If we compare all the Arab countries in states in terms of their economic stability, growth or standard of living, it’d be safe to say that U.A.E. will cut the mark to be the best among them. The attention that U.A.E enjoys from the business world & international fraternity is not very old. The discovery of oil has led to significant changes in the way business is being done there. Many companies and investors are interested in having business set up in UAE. It is easy to observe that due to the several opportunities that the business set up offers, many companies soon would like to have a presence in U.A.E. The population of U.A.E is on a fast track of growth as well. From more than 250,000 in 1971 to around 9.4 million in 2014, they sure have come a long way. Dubai is said to be the fastest growing city in the world with also being the 4th most visited city in the world after London, Paris & Bangkok.
The presence of free zones in U.A.E has also generated a lot of interest. These free zones offer business one thing that is most crucial. They offer zero taxes which makes it a lot easier for the business to develop and progress. Apart from the free zones, in the main land, businesses are required to find a local sponsor. And it is by law that the local sponsor will have majority shares and the decision making power in the business. Also free zones offer 100 % complete ownership and no currency restriction. So it is like the best package that a company can get.
Business in U.A.E has also been made easier due to the presence of consultancy firms like Global Integrated services. They have helped several clients with company formation in UAE. They offer a diverse range of services that help clients in business establishment in U.A.E. They help them apply for work permits of their employees and help them with legalities and formal procedures. The firm also helps entrepreneurs with structuring of their business plans.
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