By answering question “What are main advantages for business owners in Emirates?” The following specifics shall be noted.
United Arab Emirates are situated between Europe and Asia. It means that distance to global business centers and big mega-metropolises is approximately similar. Transport access is undisputable advantage all other things equal. Thus, performing your commercial activity in Emirates, you may easily and efficiently deliver goods to any country on the map. Options are practically unlimited: there are airports and marine carriers which actively cooperate with most leading global traffic centers, that evidences developed system of transport communications.
During the last few decades Arab Emirates became the most important business centers in the world. In addition to rapidly growing import of consumer goods, export of Emirates goods, as well as re-export of goods in other neighboring Eastern countries plays important role in taking final decision on opening and maintenance of business in UAE. UAE involves seven emirates; each of them represents wide range of options for performance of commercial activity. There are differences between emirates that are about the fact that some of them are generally accepted touristic and / or business centers, whereas other specialize in production and industrial activity. Leaping ahead, we should note option of registration of offshore company. In particular, Dubai and Ras al-Khaimah provide such opportunity.
Production domain demonstrates development of economy and modern approach to business in UAE. It is possible due to activity of political leaders of the country and tendency to withdraw from expressly dominating share of oil and gas sector of economy. Besides, as aforesaid legislation enhances stability of local business due to which reliable basis of UAE stability is formed.
Clearly, for historical reasons, Emirates had enhanced its economic stability mainly due to oil production and development of oil industry in general. Correct approach to distribution of earnings allows reaching stable economic situation in the country via attraction of foreign investments.
There are over 25 free economic zones (FEZ) in United Arab Emirates. New zones open permanently. FEZ means separate zones within the country controlled by public companies, thus, providing good business opportunities. The best advantage is option of 100% company ownership by foreign investor, simplified forms of customs and tax legislation, no restrictions concerning capital import, etc.
Successful business in UAE may be started through registration of offshore company. Recently, opening of offshore company is possible in two emirates: Dubai and Ras al-Khaimah. Offshore companies are not entitled to operate within UAE; however, they may own real estate in Arab Emirates and may found local companies.
One more economic advantage of Arab Emirates is currency. National currency dirham is stable due to pegging to dollar and remains unchanged since 1982, comprises 3.67 dirham for 1 US dollar. There is no bureaucracy in UAE and organizational issues are settled quite rapidly. Public officers speak fluently in English; there are sufficient globally recognized banks in the country. Recently UAE undoubtedly is excellent stepping stone for opening and maintenance of business. High level of confidence in country, respectability and level of economy appeals investors, entrepreneurs, and businessmen from all countries in the world.
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