Page 4 - Premier Brains Global -Doing Business in UAE (Low Res)

DOING BUSINESS in UAE

ownership in freezones. It also offer 100%
EXECUTIVE SUMMARY
ownership in mainland for certain specific
sectors
The purpose of this document is to provide
a general overview of the United Arab • Tax structure mainly includes VAT at 5%,
Emirates (‘UAE’) for investors (corporates Excise tax on harmful to health products,
and individuals) who are looking to establish custom duty when importing goods into UAE
business in the UAE. and recently introduced corporate tax at 9%
UAE is a Federation of seven emirates namely, (lowest in middle east). There is no personal
Dubai, Abu Dhabi, Sharjah, Fujairah, Ras income tax.
Al-Khaimah, Umm Al-Quwain and Ajman
which have their own rules and regulations. • Other compliances include Economic
This document provides a generate outline Substance regulations, Ultimate Beneficial
of key considerations for foreign investors Reporting, Anti Money Laundering Law,
while evaluating the prospects of investing. Country by Country Reporting.
We are trying to provide a holistic view of
regulatory framework, tax aspects, audit • UAE is part of Inclusive Framework of OECD
and accountancy, human resource and
employment issues, trade and banking • There are a high number of expatriate
There are certain key considerations which workers at all levels of the economy such
investors usually consider when investing in that expatriates accounts for over 80% of
a new country and below are some aspects the work force;
which makes UAE an attractive hub for
investors, • There are no forex related exchange
restrictions and it is possible to have
• UAE is seen as a gateway of middle east. repatriate income and capital without
Most of large multinational’s operations in restrictions.
middle east usually opens their first office in
UAE and in most cases it’s the head office. • UAE’s culture is driven by Islamic traditions,
Even certain companies operating in Africa however, with over 150 nationalities,
region also choose UAE as a central place to expatriates are able to practice their own
operate from. cultures.

• It is one of the most liberal trade regimes • UAE is one of the safest places in world
in the Gulf region and attracts strong capital and provides a very secure environment for
flows from across the region; families. It has one of the lowest crime rates
in the world.
• Economy is UAE is very well diversified and
provide attractive conditions for businesses • Official language of the country if Arabic but
operating in trade, logistics, banking, tourism, English is a popular mode of communication
real estate, manufacturing etc;
• UAE has a strong network of hospitals and
• UAE offers world class infrastructure, schools
strong banking system and a stable political
system; • It offers options to own freehold property

• UAE has over 45 freezones and offers 100% We hope that this document provides
information on key matters that maybe
considered while investing in UAE.
4