Why The UAE Is Preferred By People Who Are Planning To Set Up A Business

For many years, many Arab countries have been feared upon and misjudged because of their culture, however not anymore today. This is because of the openness they have shown the tourists especially to businessmen. Now, they are open for more economic growth.

One Arab country that is exemplary showing that openness is the United Arab Emirates, hence it is the most preferred country for those businesses who want to take advantage of their Free Zones. Listed below are three facts why the country is ever so often visited even chosen to be home by many tourists.

1. Did you know that UAE’s oil reserves are the seventh largest in the world?

Among the top ten on the list of largest oil reserves according to OPEC is Venezuela, followed by Saudi Arabia, Canada, Iran, Iraq, Kuwait, the UAE, Russia, Libya, and Nigeria. No wonder this country is one of the richest in the world.

2. Did you know there are more than 38 Free Zones operating in the UAE?

Some of the most popular are Dubai Multi Commodities Center, Dubai Outsource Zone, Jebel Ali Free Zone, Jumeirah Lakes Towers Free Zone, Ras Al Khaimah Free Zone, U.S.A. Regional Trade Center, and many more. This is the reason why there are some businessmen that are encouraged in setting up a business in Dubai.

3. Did you know that Free Zones are the primary reason why most businessmen prefer the UAE?

There are many advantages of Free Zones and some of these are 100% foreign ownership of the enterprise, 100% import and export tax exemptions, 100% repatriation of capital and profits, Corporate tax exemptions for up to 50 years, no personal income taxes, assistance with labor recruitment, and additional support services, such as sponsorship and housing and many more. With these advantages, who would not love to stay in this country especially for one that is planning on building a business empire?

Trivia Info Resource: marl-gulf.com