The UAE has a vibrant free economy, a significant proportion of its revenues arising from exports of oil and gas. The establishment of free zones has been an important feature of a diversification policy and reform of property laws gave a major boost to real estate and tourism sectors. Dubai and Abu Dubai have been ranked the top two cities in the Middle East region for quality of life, according to the latest edition of a global survey. Long-time investors include a wide range of multinational companies headquartered across the globe.
Special economic zones and free zones offer 100 per cent ownership, repatriation of profit and capital as well as exemptions from taxes. Corporate taxes are reserved only for branches of foreign banks and oil-producing companies. Infrastructure in the UAE is second to none. Telecommunications, including mobile and fixed telephony as well as internet access is on par, if not better, than the world's largest international business hubs. Investors benefit from an abundant supply of human resource skills, courtesy of professionals migrating to the emirate from nearly every country in the globe.
E-government websites, free zone authorities as well as chambers of commerce and industry provides new entrants with helpful information and guidance.
However there are a number of issues which you must consider when you are looking to set up your business in UAE. This document takes you through some of the common questions we come across and gives you practical information about the issues you need to consider.