More and more businesses nowadays move to the East, as this region boasts rich natural resources, flexible legislation, and hardworking people. Company formation in UAE has a lot of advantages; however, there are some crucial issues foreigners should be aware of.
Advantages of Establishing a Business in the UAE
The UAE attracts thousands of investors each year. Creating business there certainly has some undeniable advantages like:
- Flexible and liberal legislation with little bureaucracy;
- Convenient geo-location, which makes this country a global communications center and transportation hub for all nations;
- Rapid economic development, opening more opportunities for investments;
- Developed infrastructure, both on local and country levels;
- Beneficial taxation regime;
- Convertible and stable national currency.
Nuances You Need to Know Before Establishing a Company
Before you buy a ticket to the UAE, you should know that doing business there can also be very tricky. For example, the country has seven emirates, and each has its own business policy. In addition, the federation also has multiple free economic zones, and they all have different regulatory policies. Therefore, you need to make sure that you choose the right location for your future company.
There are several types of companies you can establish:
- local company;
- offshore company;
- free zone company.
These types need to be carefully studied to choose the most suitable option for you. In addition, you may need different types of licenses to run a business.
Your Local Advisor
UAE local companies, like S.H. Business Adviser at https://uae-consult.com/en, help foreign investors build a successful business in this country every year. This process usually goes through five steps:
- Contact the company to share your perspective;
- Choose a suitable company type;
- Obtain a license for performing certain types of activities;
- Open a bank account in the UAE;
- Obtain a residency visa, permitting you to stay in the country.
