10 Reasons Why Starting a Business in the UAE is the Key to Success

For those interested in starting a business or opening in a new market, it is hard to imagine a better destination than the UAE. The country is proving to be one of the most attractive for HNWIs and private clients, not to mention businesses of all shapes and sizes. Thanks to the UAE Centennial Plan 2071, the government’s forward-thinking approach is set to see 20 unicorns (startups valued at over US$1 billion) launch here by 2031. So why is the UAE such a draw for company owners and entrepreneurs?

Your Checklist for Starting a Business in the UAE

When it comes to ensuring lasting success for your company, it pays to do your due diligence. This checklist of the essential components for success outlines why starting a business in the UAE could be the right strategy for you.

• A Stable Environment
  • The UAE’s reputation for endurance has been growing even more steadily since the pandemic. As this piece in Entrepreneur Middle East points out, the action taken by the government including its “multiple generous stimulus packages to help the business community” were major factors in the nation’s swift recovery and why it was one of the first countries in the world to open its borders. Today it continues to offer “unmatched socio-political stability”, asset security and safety, making it internationally recognised as one of the top destinations in which to live and work.
• An Enviable Tax Climate
  • The UAE has one of the world’s lowest rates of corporate tax, which can be vital to companies when it comes to budgeting. There is also no income tax and “individuals and investors are completely free to repatriate their profits”.
• Attractive to Investment
  • The UAE is one of the most attractive destinations when it comes to investment, consistently appearing at the top end of the global list of foreign direct investment. International HWNIs, companies and groups see the UAE as a secure and profitable location with ample opportunity for growth.
• World Class Resources
  • The UAE has maintained a committed focus on building a competitive infrastructure that enhances the landscape for business and leisure within its borders. This emphasis on dependable resources and advanced technology allows businesses of all types a unique basis from which to develop. The labour market is also a big draw, with the UAE attracting huge numbers of talents professionals from around the world. This wealth of skilled individuals ensures that companies will have plenty of options when it comes to finding the right employees to drive their business forward.
• Seamless Accessibility
  • The location of the UAE is also a key selling point, offering unrivalled access to valuable mature and emerging markets in the East and West, as well as across the Middle East. With its connections and accessibility, it makes it easier than ever for globally minded businesses in the UAE to engage with clients wherever they are in the world.
• Innovative Attitudes
  • Globally renowned for its ambitious approach and visionary planning, the UAE is a land that values innovation at the highest level. The nation is constantly incorporating innovative ideas, initiatives and concepts into its laws, infrastructure and society. It also works hard to encourage innovation amongst its residents and attract the most innovative companies, ideas and individuals from around the world.
• Direct Ownership
  • It is now possible for startups and entities to be 100% owned by non-citizens. With an extensive amount of free zones across the UAE, individuals can set up organisations without having to secure a local partnership. There is also no minimum capital requirement for limited liability companies.
• Upward Economic Growth
  • The UAE’s open, knowledge-based economy is a stable and growing base with the flexibility to foster potential in any form. It is also a regional and global leader when it comes to trade thanks to its low tariffs. This is a ripe environment for those considering setting up a company and one that actively encourages entrepreneurship across all industries and sectors.
• Varied Immigration Options
  • There are so many different routes to residency in the UAE. Individuals can choose from a wide variety of visa types, such as the Golden Visa, allowing them to find one that suits their needs in terms of flexibility, sponsorship, investment and company set up.
• A High-Quality Lifestyle
  • The quality of lifestyle on offer in the UAE is fairly unique, offering sun, sand and safety as well as good value for money. It may be grand in multiple ways, but your money goes a lot further in the UAE and what you get for it can be quite extraordinary. The country is inclusive and welcoming with almost every international culture (and cuisine – yummy!) represented, making it one of the top locations for expatriates and their families.

If you are interested in starting a business in the UAE or would like to talk to our expert team about relocation, immigration or corporate services, please get in touch on info@eerme.com or +971 (0)4 421 1819.