Page 6 - Premier Brains Global -Doing Business in UAE (Low Res)

DOING BUSINESS in UAE

trade and commerce. Its well-developed
Introduction to UAE
ports, airports, and logistics infrastructure
facilitate international business transactions.
The UAE Federation was formed on December The UAE has implemented various policies to
2, 1971, consisting of the 7 emirates Abu Dhabi, attract foreign investment and businesses
Dubai, Sharjah, Umm Al-Quwain, Fujairah, including:
Ajman, and Ras Al Khaimah united to create
a single country. It is one of the 6 members of • 100% foreign ownership in many sectors
the Gulf Cooperation Council (GCC), which • Tax incentives,
also includes Bahrain, Kingdom of Saudi • Free trade zones that offer various
Arabia (KSA), Kuwait, Oman, and Qatar. benefits to companies
• No personal income tax
UAE is located along the eastern side of • No foreign exchange control regulations
the Arabian Peninsula. The UAE comprises • Several GCC-based international free
approximately 71,023.6 km2 of land, including trade agreements such as common
islands in the Arabian Gulf, in addition to external customs tariff and a VAT
27,624.9 km2 of territorial water. framework for efficient trade
between member states.
Although being one of the world’s largest
oil producers and exporters. In recent years, The UAE is home to a diverse population
the UAE has been working to diversify its composed of both citizens and expatriates
economy beyond oil and gas. This effort from around the world representing over 150
has led to investments in industries such as nationalities. This diversity is reflected in the
tourism, finance, real estate, and technology. country’s culture, cuisine, and languages
spoken. While the UAE is modern and
Being strategically located at the center of appealing, it still adheres to Islamic values
Europe, Asia, and Africa, making it a hub for and traditions.

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