The United Arab Emirates is located on the very edge of the Arabian peninsula. It consists of 7 emirates. Since the 1930s, the UAE has become the epicentre of modernity and innovation. Not only that, it has emerged as one of the wealthiest states of the entire region.
In the past few years, the diverse economy and tourism have given a boost to the business set-up in UAE. It has become a regional hub for foreign investors.
Key benefits of LLC company formation in UAE:
- Diversified economy: Over the last few decades, the UAE’s economy has undergone many changes. It has become diverse, with petroleum, tourism, and science and technology sustaining major growth. To top this, the government has invested $13 billion towards the expansion of non-oil related avenues. This has given a significant growth to the economy, and in return benefitted the businesses set-up in UAE.
- The epicentre of trade and commerce: Going by the geographical location, the UAE has an advantage. It is located at the centre of some of the world’s major trade and commerce routes. This gives a competitive edge to the company’s operating here. It is easy for the business to be connected to all the major markets of the neighbouring countries. To facilitate that, UAE boasts of state-of-the-art infrastructures, like airports and maritime ports. Company formation in UAE free zones has seen a sudden spurt due to this very reason.
- Low tax liability: To promote trade, the UAE government offers a series of tax concessions and incentives. For doing business in the Emirates, the businessmen are exempt from foreign exchange controls, personal or corporate taxes, and even trade barriers. This gives an edge to the businesses in the UAE and helps them in improving the profits. Therefore, to avoid tax, or minimize it UAE is an ideal location for setting up your business.
- Availability of modern technology: Apart from having a monopoly in the oil business, the UAE has also emerged as a top player in the field of science and technology. It has gained a top position in the telecommunication sector. Not only that, but the UAE has also become the home for modern infrastructure and technology. It is evident from the grand structures that have become the symbol of its expertise in modern technology and infrastructure. This is the primary reason for LLC company formation in UAE during the past few years.
The United Arab Emirates has transformed itself in the last 40 years. It has gone from a local trading community to a successful leading city of the world. Today it is an attractive destination, both for tourists and investors alike. It is an ideal location to reap financial gains and improve the profits of your business. The promising economy and business infrastructure are the key pillars of the UAE, and now is the time to make the most of it. So think about the business set-up in the UAE today and achieve new heights.