We would like to further discuss the reasons for this enormous propulsion.
- Security is Key
The UAE was established in 1971 and has since relished an enviable degree of political stability. Dubai and Abu Dubai have been ranked the top two cities in the Middle East region for high quality of life. This has enabled the implementation of consistent sound economic policies and the reinforcing of the country’s social structure to produce one of the most tolerant, prosperous, and secure societies in the world.
- Tax Efficiency
Special free zones offer 100 per cent ownership, repatriation of profit and capital as well as exemptions from taxes. Outside of these areas, substantial incentives are being presented to investors. The corporate governance provisions ensure that transparency and accountability are being enforced. Corporate taxes are reserved only for branches of foreign banks and oil-producing companies. A negligible 5 per cent tariff is imposed on goods imported from non-Gulf Cooperation Council (GCC) countries, although tobacco and alcohol products are subject to 50 per cent customs duties.
- Regional Proximity to Opportunities
The UAE’s strategic location between Asia, Europe and Africa is a major advantage to investors. The fastest growing economies in Asia are particularly close to the country’s proximity. Collectively India and China alone comprise almost 40 per cent of the world’s total population and support a combined GDP more than US$5 trillion, providing significant economic and trading opportunities.
- Infrastructure of stellar kind
The infrastructure in the UAE is second to none and is in a continuous sequence of growth. Telecommunications is on par, if not better, than the world’s largest international business hubs. The road network is constantly upgraded, and ports and airports are of world-class standards.
- Human Resource Unparalleled
The investors benefit from an unceasing pool of human resource skills, as a result of professionals migrating to the emirate from nearly every country in the globe, as well as the increasing number of UAE nationals that are joining the private sector.
- Intellectual property protection
The UAE is a member of international bodies, treaties and conventions that safeguard intellectual property, including the World Intellectual Property Organization (WIPO), World Trade Organization (WTO), Paris Convention, Patent Cooperation Treaty (PCT), WIPO Copyright Treaty, WIPO Performances and Phonograms Treaty (WPPT) and the Rome Convention.
Intellectual property, including patents and trademarks, are legally protected in the UAE and considerable efforts are being made to implement and further improve these laws.
- Ever Growing Realty
UAE has been a host to property development of enormous proportions. The investors have various options at competitive rates that would suit their business necessities. These include Offices, Economical Business Centers, Warehouses, Retails Spaces, Industrial sheds etc. Investors can rent or outright purchase them with an opportunity of gain through market value increase.