5 Reasons Why It’s a Good Idea to Set up Your Company in UAE
Tax-free income. Ability to acquire assets. Open a bank account. Manifest more opportunities that come along the way.
This is just a trailer of the benefits you can take advantage of when setting up your company in the UAE.
Over the years the United Arab Emirates has emerged as one of the best places in the world to live, study, and work. People from all over the world have made the UAE their home. We are going to share the top 5 reasons why it’s the perfect time and place to set up your business in the UAE.
The Expo 2020 Dubai is an international registered exhibition with the motto ‘’connecting minds, creating the future’’. It is aimed towards increasing awareness of global scale challenges faced by humanity, networking and promoting international relationships.
We personally wanted to mention Expo 2020 as the first reason among the other well-known reasons because it is going to be the door to so many opportunities that cannot be imagined.
Participants come under 3 pavilions:
With a melting pot diversity, the UAE has further shared its love and appreciation with this unique pavilion. For the first time in the history of the World Expo, every participating country will have a dedicated pavilion, promoting its culture and traditions.
To know more about the country pavilions, check out https://www.expo2020dubai.com/en/understanding-expo/participants/partner-pavilions
Events partners of various categories will be showcasing their world-class talent and innovation at the Expo 2020. Primary themes supported by partners come under sustainability, mobility, opportunity and thematic. Emirates, the largest airline and flag carrier of the United Arab Emirates is one of the official premier partners. Other premier partners include Pepsico, Nissan, and Etisalat.
Over here you will get to explore how global led organisations and civil society are making their way to tackle challenges under various themes of impact.
A unique blend of education, entertainment, and thrill.
Check out the cool variety here
As an existing or future business owner, the diversity in the type of participation being taken at the Expo 2020 is complementing in many ways. You get to find out what best suits you or how you can further improve your business strategy to tailor it according to UAE standards.
The best and most impactful experiences are felt, and that is exactly what Expo 2020 is oriented towards. Whether it is finding a business opportunity to take or explore technology, a world of flavors, you can immerse yourself in experiences at the Expo 2020. A fun fact to mention is that there will be a different theme every week of the exhibition. Every theme is oriented towards global challenges.
So what are you waiting for? Mark your calendars from 1st October 2021 – 31 March 2022 and find the best dates to come and make your entrepreneurial dreams come true!
Taxes are a part of every business all over the world. Businesses normally experience being charged taxes in various forms, not limited to but including the following:
– Tax on purchase of imported raw material
– Tax on utility and bill charges
– Tax on miscellaneous business-related purchases
– Tax on business earnings or income
But in the UAE, it’s very different, and in a good way. You get to enjoy a tax-free income. Yes, you read that right. Your hard-earned business earnings go straight to you, the entire amount. You can also send money across the world and convert your earnings into any currency you desire.
To make matters more clear, the UAE facilitates tax-free income for personal and corporate income.
So why is tax-free income for a business owner such a big deal and a reason to set up a company in the UAE? It is normal to experience a shortage of cash flowing when a business opens its doors. That does not mean costs go on halt, costs incurred will remain. Having zero tax payable is a form of relief in such instances, especially at the beginning of opening a company.
UAE Residence Visa
When you acquire a valid business license, you are eligible to apply for the UAE Residence Visa.
The UAE Residence Visa is a golden ticket in its own way. You get to leverage the many advantages that otherwise would be impossible if you are a foreigner.
Known for acceptance and high aimed objectives
The UAE is known for dedicating each year to an important objective and implementing it in the form of various activities.
One of the most famous and appreciated is the Year of Tolerance – 2019. The wise leadership of the UAE dedicated this particular year to making the UAE a global capital for tolerance, co-existence, and cooperation.
2020 emerged as the Year ‘’Towards the next 50’’ and 2021 emerged with the vision to make UAE one of the best countries in the world and celebrate its Golden Jubilee as a federation.
The country of opportunity
With an impressive GDP of USD 421 billion, the UAE is home to an active economy. The economy of the UAE is powered by its rich oil and gas reserves, tourism presence, tech trading, banking and education.
Various top universities around the world have opened their presence in the UAE, such as New York University Abu Dhabi and Heriot-Watt University in Dubai.
The best banks in the world have opened their branches in the UAE such as Citibank, HSBC, and Standard Chartered Bank.
With an increase in demand to cater to the global tastebuds and preferences of the multiple nationalities residing in the UAE, there are business opportunities to manifest.
Also, know the difference between Free Zone and Mainland for company formation
All you need to do is be better and make the first impression a lasting one.
We want to help you move from thoughts and into action, book your consultation where we tell you the awesome ways you can make the most of your genius entrepreneurial idea.