Establishing a business or being an entrepreneur is what is trending today globally. The cycle goes like: individuals work for a few years as employees to gain a handful of experience, understand the company culture, uplift their skill set and then slowly incline towards the path of being an entrepreneur. The thought of establishing a business takes a number of parameters in the count. The scenario turns to be a complex if it’s on a global scale. One such parameter turns out to be a preferred location which is to be researched and chosen wisely to initiate the process of building your business. According to the World Bank’s report, The United Arab Emirates (UAE) has lifted itself to 11th rank (up 10 places from 21st last year) at a global level in the ease of doing business for the next year 2019. It is well known that the Emirates has widened its scope to multi-dimensional business domains. On the other hand, it has got an easy establishment processes that have been the reason that it has established itself as a preferable choice by foreign investors to set up a business in UAE. Let’s understand about UAE and the look at the different aspects and benefits that this business hub would provide to its inhabitants.
UAE, also known as the Emirates, is one of the fastest growing economies of the world. The economy has opened its doors for foreign investors for multi-business options. Ranging from a one-man company to a multi-national company, the Emirates has got it covered. The economy holds Dubai, the heart of UAE is one of the liveliest city of the world that embraces the highest number of expats from all around the globe. Another interesting thing that attracts foreign investors is free zones in Dubai. These zones allow investors to establish business units that involve huge networking, and wide open growth options. According to a business report, UAE’s economy is to grow by 4.2% in 2019. Now, let’s have a look at the World Bank Report that states the Emirates as the future business hub.
World Bank Report
Every year the World Bank publishes the report and ranks economies on the basis of doing business in between the range 1-190. The higher the rank an economy receives, the regulatory environment is more seductive to operate business activities. The report also states that UAE has ranked at the top in consideration to the MENA (the Middle East and North Africa) Region. In short, it states UAE as a platform of investment for 2019. The article contains the rankings achieved, but before moving on to the rankings, let’s understand what Doing Business is all about.
Doing Business is a project that was established in the year 2002 that extensively works in providing the essential measures of business regulations and their enforcement across 190 countries. It covers all the important aspects and offers subnational reports. Now, this year various factors have been considered while ranking the economies.
Factors Considered While Ranking
Ranking an economy is a crucial task that involves a number of parameters. A business investment involves very large capital. Any entrepreneur or investor needs to have an idea regarding these parameters before making a huge investment. As mentioned earlier, the Emirates have been working hard to establish itself as a business hub, let’s have a look at the different factors and ranks achieved by the economy.
Thus, you can see that the rankings achieved by UAE are inclined towards the higher side. Now, let’s also have a look at the rank achieved in comparison to its competitors.
We can see that the economy has been successfully managed to top among its competitors. Moving ahead, let’s understand the benefits that an investor derives by investing in UAE.
Benefits to Entrepreneurs
The Emirates is known to offer multiple benefits to entrepreneurs who establish their business. This attracts the foreign investors and provokes them to establish their business units. Some of them are as follows:
- 100% Tax Exemption
- 100% Repatriation of Capital and Profits
- No Capital Deposit
- Exclusion of Import and Export Taxes
- Flexible Government Policies
- World-Class Infrastructure Facilities
In short, you can see that the Emirates have been tirelessly working to establish and get recognized as the world’s biggest business hub. Doing business in Dubai, be it a startup or an established business entity, not only helps in making a profit but also to link with the other international borders. So, if you are planning to set up your business in Dubai or any other region in UAE, you have nailed it. Now, at this point, the best you need to do is have a word with one of the business consultants who can help you in dealing with the legal proceedings and establish the business roots. Wondering whom to contact? Don’t worry. Your helping hand is just below.
Commitbiz has been one of the top business consultants in UAE. We have been dealing with multiple business clients across the world to set up their business units. Our business experts are well versed with the company formation policies and will cater to your needs accordingly. Contact us today for further assistance. We’d be glad to assist.