The UAE has no problem in attracting foreign investors. It is also renowned for its efficient admin, infrastructure and sleek licensing. The government actively encourages a free and harmonious economic policy.
No taxes
This is often regarded as the primary and foremost reason. The government offers attractive tax incentives to businesses operating in the country. There are currently no foreign exchange controls, trade barriers and no personal or corporate taxes. Only oil, gas, and petrochemical companies and branch office of foreign banks are required to pay taxes.
Diversified economy
As mentioned earlier, aside from the petroleum industry, the UAE has seen sustained growth in tourism, science and technology. Almost 60 percent of Dubai’s GDP in 2011 is from trade, logistics, transportation and tourism. This grew by 3.4 percent, and by 4.6 percent by the end of 2012.
Free Trade Agreements
With the exemption of companies in the free zone, UAE-based businesses can enjoy duty free trade with all countries in GCC. This includes Saudi Arabia, Qatar, Kuwait, Oman and Bahrain as its members.
Strategic Location
The UAE lies at the heart of a strategic, geographic crossroads where trade, commerce and diverse cultures have co-existed and interacted for hundreds of years. Chinese businesses see it as a hub for Africa. Latin American see it as a launch pad into South Asia. Western multi-nationals use UAE as a hub for the Middle East.
Low import duty
Import duty and taxes are due when importing goods into UAE whether by a private individual or a commercial entity. Duty rates in UAE vary from 0% to 100%, with an average duty rate of 4.61%. Some goods can be imported free of duty such as laptops and other electronic products.
World-class Infrastructure
Infrastructure in the UAE is extremely well-developed. For instance, the size and sophistication of its two ports, Port Rashid and Jebel Ali Port. It is also home to the Arab world’s largest airline, Emirates Airlines.
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