Is your business suffering due to the complexities of where you are located?
Even if your business is doing well, have you thought of increasing efficiencies by moving your business to another destination?
In a world where the ease of doing business is becoming more difficult each year, it is trending globally that businesses are constantly on the lookout to find greener pastures to house their investments. Let us help you narrow down on the best business destination choice in the GCC. Unrefutably, the No. 1 destination is the UAE according to the World Bank.
UAE’s Economic Forecast 2019-2020
The UAE is expected to be among the fastest-growing Gulf economies this year with a projected 2.6 per cent expansion on the back of continued infrastructure spending and economic stimulus, the World Bank said earlier in the year. The multilateral institution had also forecast a similar level of GDP growth at 3 per cent by 2020.
Source: The National
World Bank Report
According to the World Bank’s report, the 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 2019. This is mainly because of the ease of setting up a company establishment in the UAE.
Whether you are an entrepreneur, start-up, SME or multi-national company setup, there are many parameters to consider whilst choosing a destination to establish your business. The report evaluated parameters to arrive at the ranking for the UAE as follows:
UAE Ranked Against Its Competitors
Leveraging UAE’s World Class Infrastructure
The UAE is one of the fastest growing economies globally. This is attributed to offering investors an environment that is conducive to business.
- Multi-dimension business domains and industry clustering
- Company setup options in mainland, freezones and offshore locations
- Fit for purpose rules, laws and regulations
- Recently implemented 5-year investor visa based on criteria and/or categories of businesses
- Global and emerging markets connectivity through its award-winning sea and air ports
- Affordable real estate
- Abundance of high quality blue and white collar multicultural workforce
- No personal income and corporate taxes; whilst 5% VAT is reasonable when compared globally
- 100% capital repatriation
- Political stability
- Concrete government vision for long term growth and sustainability
UAE’s USP for Global and International Businesses
Does your business frequently require you to wake up at odd hours of the night to connect with another part of the world?
Does it disrupt your rhythm and work-life balance? You have a way out.
Apart from leveraging the UAE’s world class infrastructure, you can benefit by the time zone UAE is located in. For example, at 8am Australia is awake and open for business. By 5pm you can reach out to the East coast of the USA. During the working day at various timings all major business hubs globally are accessible. We often focus on evaluating other factors when choosing a destination for your business, however we undermine the importance of the optimal time zone location for global connectivity.
What Next For Your Business?
As UAE is ranked 11th from 190 countries and 1st in the GCC in the World Bank’s ease of business report do take some time out from your busy schedules to explore and assess the business friendly environment the UAE has to offer foreign investors.
Whether it is about company formation, business plan modelling, patents and copyrights, legal and business regulations, our experts will be more than willing to help you meet your goals for every stage of your business set-up requirements. Call us now to understand more about how we can assist your business to succeed. We are not just providing a service but are forging a winning partnership with you.