OPPORTUNITY

THE UAE OPPORTUNITY

  • United Arab Emirates is an expatriate-friendly country. Expatriates outnumber local Emiratis by more than 6 times.
  • UAE Oil reserves are the sixth largest in the world and it is now the world third-largest export and re-export center, after Hong Kong and Singapore.
  • The UAE is a tax-free country. No income, capital gain or corporate taxes, no VAT, and no payroll-based taxes, hence, there are no tax accounting or government interference in legal business activities.
  • The UAE is not an offshore tax haven. It has always been a tax-free country.
  • The UAE Dirham, a freely convertible currency, has been pegged to US Dollar since 1980. UAE laws guarantee the free movement of capital including repatriation.
  • Business, transport, legislation and financial infrastructure are well developed and constantly improving to become more investor-friendly.
  • More than 20 free zones successfully operate in the country; 100% foreign ownership is permitted and a tax-free regime is guaranteed for up to a 50-year period.
  • The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%.
  • The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement.
  • The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
  • Unemployment does not exceed 4% and inflation rate is the lowest in the region at 1.6%. There is virtually no corruption or crime.

Final analysis - The UAE’s cities are truly cosmopolitan and are a real melting pot of nations, races, cultures that has resulted in a colorful, energetic and tolerant society. There are not many places in the world where you can legally do business in tax-free environment, and live and raise your family in safe and modern metropolises as you can do in the UAE.