The United Arab Emirates is the state of the future. Having formed relatively recently, it always tries to be one step ahead. Here we are happy to meet foreigners who want to invest in highly profitable industries. Recently, it has become even easier to do this, because now it is possible to open a company in the UAE in most areas of activity without a local partner.
Foreign investment is highly valued here. The UAE has used natural resources to build a successful political and economic model. Overcoming dependence on oil, they created one of the most favorable conditions for doing business in the world. After reading this article, you will learn how to capitalize on the growing Arab economy for your business.
You will also learn about how you can save money on starting a business and invest it in something more useful. For example, buy real YouTube subscribers for a channel where you will talk about your successful work in the Emirates.
Taxes, laws, reasons for economic growth
There are almost no taxes. There is 5% VAT on some domestic transactions. But it is possible to legally minimize taxes in third countries by protecting yourself from the automatic exchange of tax information. When opening a company and obtaining a residence permit by its owners in the UAE, local tax officials will not tell their American colleagues about your activities.
By opening a business in this country, you can save a lot on taxes and leave money for something useful for your company. For example, you can start making videos about your path to success and buy YouTube subscribers in the first month of work.
A loyal taxation system is a clear economic calculation. Low taxes are beneficial to the state as an argument for the inflow of investments. The simplicity of the legislation is connected with the local tradition of building relationships on agreements.
The rapid growth of the economy is provided by start-up investments in construction, the infrastructure of commercial and residential facilities, multi-billion dollar investments in profitable jurisdictions from around the world and an increase in the number of wealthy expats.
The UAE offers international business more favorable terms than most countries in the world. Dubai has become an international financial center, displacing Switzerland and Cyprus. It is no secret that there are virtually no tax-free zones left in the world. And the single tax and customs space of the Persian Gulf countries is an opportunity to enter the market of the entire region through the UAE.
Comfortable conditions for business
- Absolute stability in the financial institutions of the UAE, free deposit and withdrawal of capital, no currency control;
- The local currency Dirham is pegged to the dollar and its rate has not changed since 1971;
- Even during the pandemic, foreign direct investment growth was 44% in 2020, when in the whole world it fell;
- In 2021, the United Arab Emirates ranked 2nd in the world in terms of law enforcement and enforcement.
Before us is a successful example of synergy between government and business. On the one hand, public services are interested in the inflow of investments and defend the interests of consumers. On the other hand, they protect the prestige of the country, encouraging entrepreneurs to work within the law and blocking illegal actions.
Since June 2021, full foreign ownership of local firms has become available. Previously, this was possible only on the territory of free economic zones, which made them attractive. Now the conditions for comfortable business without local partners have been created throughout the state. This move has already led to a rise in investors from all over the world.
The state makes ambitious plans, sets clear rules and implements them. In this way, it provides credibility for itself and its institutions.