Why Now is the Best Time to Start a Business in UAE
Contributed by Aurion
17 August, 2020
UAE's business ecosystem and business laws are supporting the growth of start-ups. There is never a better time to set up a business in the UAE.
Free Zones create a perfect launchpad for entrepreneurs with world-class infrastructure. The country's SME and eGovernance speed up company formation.
New Company Registrations are on a Spike
Cheaper company set-up costs, robust banking networks, access to a big pool of talent, etc., are driving more business registrations in the region.
Aspiring businessmen can easily form a start-up and test the market here. There are immense business opportunities in the region due to the strategic location, growing population, and huge volumes of trade activities.
Why Should You Setup your Business in the UAE?
Here are a few reasons why you should Setup your Business in the UAE right away.
1. Easing Complexity
Company Formation can become quite a lengthy process with a long list of documentation, legal requirements, processing of resident visas, business license registrations, and so on.
However, expert business consultants will ease the burden of the complexity in setting up the company in UAE.
Also, the UAE Government has introduced several initiatives to speed up the Company Formation process and for improving the ease of doing business in the region.
UAE aims to facilitate entrepreneurs and foreign investors with cost-effective business packages based on their exact requirements.
2. Wide Range of Business Setup Package
There are umpteen opportunities available for start-ups or entrepreneurs in the UAE. The Free Zones offer attractive packages custom made for all business activities.
Depending on the investor's business background, expertise, office requirements, nature of the business, budget, the Free Zones of UAE has tailor-made Company Setup options.
Low-Cost Company Formation Packages from Free Zones
Ranging from Zero visas to multiple visa quotas, unfurnished to fully furnished offices, warehouse facility, various business license types, you name it the free zones of UAE has it all.
It is advisable to have Expert business advice to ensure you make the right choice.
Business Setup is a long term commitment, the setting up process must be done right by complying with UAE business laws and meeting all approvals and clearances.
3. Attractive Low-Cost Packages & Incentives to Promote Trade
It will ensure smooth business operations and achieve sustainability easily.
With the onset of a pandemic, and to support the businesses and entrepreneurs, the Free Zones are launching cost-effective company setup packages at an all-time low fee.
Also, the Free Zones of UAE have launched stimulus packages, rent waivers, multi-year license packages, E-channel fee waivers, free lifetime residence visas, etc., to promote entrepreneurs, sustain trade and revive the economy faster.
4. Huge Pool of Talent Available
With the pandemic, a lot of experienced employees in the UAE have lost their jobs, there is a huge pool of talented and experienced workforce readily available in the country.
Businesses can take advantage of this workforce and scale up easily by expanding to new fields such as customer service, IT support, design, etc.
5. World-Class Infrastructure and Robust Business Ecosystem
UAE has solid infrastructure support for the start-ups to flourish. The new regulatory frameworks, increased government support, funding support, banking, partnerships, etc., are driving the business setup in the region.
UAE has got the world-best business infrastructure to support start-up growth. Starting from co-working spaces, shared offices to startup accelerators, funding platforms, and software testing centers, etc.; every support system for business is available here.
6. Zero Taxation Policy
UAE has a Zero Taxation Policy as there is no Corporate or Income Tax. A 5% VAT is the only payable tax in the region.
For business and foreign investors from high tax paying countries, this is of great advantage to hedge their investments and profit returns from UAE business operations.
Tax Residency Certificate and Tax Savings
UAE residents can leverage the benefits of the Double Taxation Avoidance Agreement by applying for a Tax Residency Certificate and save tax in their home country.
Also, the Free Zones of UAE has more business incentives, i.e. there are few VAT Free Zones, and doing business within these Zones is subjected to Zero VAT payments.
Similarly, any import to Free Zones is cleared off by Customs without paying the Customs Duty.
Adding up all these, foreign investors prefer UAE Free Zones for setting up their business. Considering the present scenario, the company formation cost at all UAE Free Zones stands at an all-time low fee.
There is no better time than this to realize your dreams of setting up a company in the UAE seamlessly at the lowest cost.
7. 100% Foreign Ownership
UAE Free Zones have a major advantage in terms of enabling 100% foreign ownership. It makes the Free Zones one of the most sought after jurisdiction among foreign investors.
Along with the 100% foreign ownership, there are umpteen other business benefits for the investor owning a Free Zone company, they are as follows:
- 100% profit repatriation and share capital transfer
- No customs duty for imports to the Free Zones
- Quick and Easy business setup
- Easy access to the Airports and Seaports of UAE
- Top-class infrastructure and amenities
- Customized office space and warehouse facilities
- Audit report requirement is optional to most of the Free Zones
- many more...
8. Exceptional Networking Opportunities
UAE has enormous networking opportunities for investors to find new connections. Business owners can gain a lot of insights by interacting with likeminded people.
There are a lot of networking events, resource centers, knowledge hubs, etc., in UAE to support your entrepreneurial journey.
Thus, in a nutshell, UAE is constantly evolving and immense business opportunities are arising out here across various industry sectors.
Going by the robust business ecosystem and future growth prospects on setting up your business in UAE, there is no other best time to start.
Get in touch with an expert Business Consultant like Aurion and turn your dream of forming a company into a reality quickly.
To find out more about the Company Setup Opportunities in UAE, reach out to our expert Business Consultants right away!
Contact: Aurion Business Consultants
« Go Back to Articles