The UAE is located midway between the east and the west thus linking the good of both the worlds. It has both seaport and airport that makes logistics easier. Thus, business related to international trading, import, export, tourism, and logistics can flourish successfully in this region.
Today, the UAE has one of the most open and dynamic economies in the world. A number of global business indexes have recognized the advantages that the UAE brings to international business. AT Kearney ranks the UAE as one of the top 20 best places in the world for global service business, and ranked as the 16th best nation in the world for doing business by the Doing Business 2020 Report published by the World Bank Group. The UAE also gets positive rankings from Transparency International and the World Bank’s Worldwide Governance Indicators for control of corruption, ranking in the top quarter of the least corrupt countries in the world.
Other clear advantages to doing business in the UAE include:
- No restrictions on profit transfer or repatriation of capital
- No corporate or income taxes
- A currency, the Dirham, that is stable, secure and pegged to the US dollar
- Very low, or non-existent, import duties
- Competitive labor costs
These factors, combined with a strategic geographic location, an expanding infrastructure and an extremely safe environment, make the UAE an ideal place to do business.