Staying competitive in an increasingly dynamic business environment means closely monitoring the market and economic factors that can make or break your business. It means going global, tapping in to new markets while being smart about keeping operating costs as low as possible.
In today’s world many companies choose to move or expand overseas in search of better legal, labour and tax climates where their companies will flourish. The UAE has rapidly become a haven for savvy entrepreneurs and global strategists looking to thrive in a booming economy.
Why the UAE?
The UAE is famously tax-free, and as a developed nation offers a stable economic and political environment for business growth and expansion. With 2016 GDP reaching around $108B in Dubai alone, the UAE is a rapidly growing global hub. It offers strategic access to the Persian Gulf region and all the benefits of cutting-edge, well-developed infrastructure for competitive trade.
International companies are rapidly relocating within the UAE because investments are amongst the best-protected worldwide under transparent legislation. The region offers dependable banking systems, a talented labour pool and attractive FDI policies.
Learning from common issues
It’s not easy to completely move your company internationally, so we’ve rounded up some of the common problems faced by businesses moving to the Emirates.
The time and administration costs of registering your business in the UAE can be vast, and take away from the strategic demands of running your company. Business registration requires in-depth understanding of UAE legislation and regional market dynamics. Deciding where and why to set up can be stressful, and your decisions will determine what licenses and permits come next. By outsourcing these decisions to local experts you can benefit from existing knowledge of these factors.
Becoming a UAE resident gives you flexibility to travel visa-free between neighbouring and Persian Gulf countries, making it easier to conduct business and trade in a high economic growth region.
Corporate tax in the EU averaged 18.35% in 2017, while US companies faced a whopping 38.91%. The UAE offers tax-free corporate and personal income, and free trade zones designed to provide ideal legal and economic infrastructure for foreign business growth.
Becoming a resident however, can involve myriad paperwork and is best left to qualified attorneys who can do the hard work while you focus on your business goals.
The UAE has incredibly low corruption rates and transparent financial systems underpinning it’s thriving GDP growth. Becoming familiar with the regulatory system in a new region can be time-consuming and confusing. This can be especially difficult if you’re not fluent in Arabic, making legal compliance another area best left to experts.
SORP offers professional solutions to common issues experienced by strategic managers and entrepreneurs through our customized:
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