UAE has made its way to remain as the most attractive market in the global economy and a hub for foreign investors. The nation had prior unveiled its 50 new economic initiatives for the purpose of attracting direct foreign investment in the coming decades and making the region attractive to international investors.
The nation’s strategic location and friendly business environment, makes it desirable and an attractive centre for the global investors and facilitates in creation of strong trade ties with numerous neighbouring countries.
Major reasons for setting up a company in UAE are:
Business friendly environment
UAE’s business friendly environment within the region. The nation’s significant efforts to expand economic dependency in non-oil sectors established immense opportunities for other business at different verticals.
World Class Infrastructure
Heavy investment in infrastructure development has induced liberalisation and diversification of business, making it easier for foreign investors and entrepreneurs to come to UAE and start their business.
Choice of jurisdiction
The nation is an ideal place for foreign investors, entrepreneurs and entities to establish their presence in UAE, due to the diverse economy and business friendly policies set out by the government. Business owners can choose to set up their companies either in free zones or onshore. 100% foreign ownership is allowed in a free zone jurisdiction, and the free zones within UAE were established to encourage foreign direct investment.
Tax benefits
UAE offers tax benefits incentives for business owners and investors that encourage them to invest in the region, making UAE as the most convenient place to conduct business.
Other changes
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UAE introduced the federal corporate tax rate of 9% which is set to become effective from June 2023, and the tax rate has been aimed to attract foreign investors.
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Effective from 1 January 2022, both public and private sectors aligned themselves to the new weekend schedule of four and half day working week.
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Latest labour law been implemented ending the unlimited contract structure and replacing with fixed term work contracts for a period of three (3) year, sets new minimum wage, new work model.
How Freemont Oneworld group can assist you?
Our legal and compliance team is equipped with professional specialists with knowledge of the UAE legal and regulation systems.
We can advise you on the right structure for your business and assist you with the relevant laws, compliance and policies so you can set up your company and manage your business efficiently.