United Arab Emirates consists of seven emirates which offer distinct business advantages to investors. The newest innovations and modernity are present in this country. The country is known to be among the richest in the world. The country became a hub for investors due to its diverse economy and tourism. Here are some of the key benefits of owning a business in the United Arab Emirates.
The country is characterized by a diverse economy which is constantly growing. The economy of the UAE has undergone a lot of diversification in the recent past. The growth has been witnessed in the tourism, science and technology industries. 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. To avoid being left behind in the growing technological inventions, this country has greatly invested in growing their technology industry. The greatest advantage of the oil industry is the reduction in pricing of housing, water, electricity, and gas.
UAE is the center of the world’s trade and commerce. The world’s most vital trade and commerce routes lie in this country. For a while now, this country is recognized for harboring many businesses. Establishing your business here will enable you to access markets from all over the world. Presence of spectacular air and maritime ports enables this country to host international trade. All these amenities make this country an appealing place to do business.
The taxing system of this country is quite 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. Any person from across the world can receive employment in this country as there exist liberal labor policies that support this.
The country owns the latest technological inventions. Over the years, this country has been known to have excellent telecommunication and IT. 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. You will find it easy to interact with the people of the UAE once you learn their language and cultures. Your employees are equipped with this information to enable them to interact efficiently with their Emirati counterparts.