A recent media report stated that a total of 32,256 business licenses were issued in the UAE over the first eight months of the year, bringing to 572,615 the total number of business permits in the country, a growth of 6 pc from 540,359 by the end of December.<\/span><\/p>\n
The media report directed by the Ministry of Economy’s National Economic Register also mentioned that there has been a substantial upsurge in business licenses. This has also immensely contributed in the economic growth as estimated and backed up by the Central Bank of the United Arab Emirates. The Central Bank noted that the predictable GDP in the country will grow by 2.4 pc in 2019.<\/span><\/p>\n
The statistics show that the United Arab Emirates continues to attract foreign investment each year with people choosing the country to set up new companies or set up branch offices. Strong financial reserves, a large sovereign wealth fund, consistent government spending, a progressive policy of economic diversification and increased foreign investment that contributes to the UAE\u2019s robust economy. Due to these measures, foreign investors are attracted to Dubai and various other Emirates across the UAE. They intend to capitalise on the high standard of living, profitable business opportunities and extremely low taxes.\u00a0<\/span><\/p>\n
UAE is centrally located connecting the East and the West and companies also benefit from working between the time zones to hyper elevate business operations and ease communications on a global scale. Starting a business in the UAE can be beneficial on a global forefront, but each business activity is different and needs to be positioned precisely.\u00a0<\/span><\/p>\n
The UAE has several multi-speciality jurisdictions offering complete foreign ownership with 100% profit repatriation; economic incentives and tax exemption. These jurisdictions are mainly classified under three \u2013 they are Mainland, Free zones and Offshore. So <\/span>where to setup a business in the UAE<\/b><\/a>?<\/span><\/p>\n