Reasons to Own a Business in the UAE
United Arab Emirates consists of seven emirates which offer distinct business advantages to investors. The UAE is a country where there are latest innovation and modernity. The oil discovery in the region lead to an increase in the ranking of the country regarding the national wealth. The attraction of investors to this country is as a result of the diversity in economy and tourism. In this article, the benefits of being a businessman in the UAE are mentioned.
The country is characterized by a diverse economy which is constantly growing. The UAE is open to new ideas in the development of its economy as seen in the recent years. The tourism, science, and technology industries have greatly developed. The economic success of this country has been greatly influenced by the existence of the petroleum industry. The government has invested in developing the industries which are non-oil related. The ever-changing inventions in the technology has led to this country greatly investing in its technology industry to keep up. The oil business has led to cheaper housing, water, electricity, and gas.
The world’s trade and commerce is centralized in the UAE. The location of UAE is at the center of some trade and commerce routes which are the most important in the world. The country has been known to have a lot of business operations for decades. Establishing your business here will enable you to access markets from all over the world. The country has invested in advanced air and maritime ports to ensure they cater for all international traders. All these amenities make this country an appealing place to do business.
The taxes in this country are low. As a way to increase the number of businesses in the country, the government imposes low taxes on the business people. It lacks foreign exchange controls, trade barriers and personal taxes thus encouraging international businesses. Exemption of foreign companies in paying income tax is one of the main advantages of having your business in this country. It is made possible to employ people from all over the world due to the liberal labor policies present in this country.
The country owns the latest technological inventions. The telecommunication and IT of UAE has been praised over time. The modern facilities and infrastructure makes the country conducive to many business operations. The country offers cross-cultural training programs for companies doing business with them. Learning the language ensures that you can communicate well with the people in the country. As a result of learning the language of this country, your employees will find it easily interact with your customers who will mainly be the Emirati.