In this scenario, the United Arab Emirates, and in particular Dubai, have emerged for many years as an important commercial hub thanks to its strategic position between the West and the East.
In this scenario, the United Arab Emirates, and in particular Dubai, have emerged for many years as an important commercial hub thanks to its strategic position between the West and the East.
The United Arab Emirates holds the seventh largest crude oil world reserve and is one of the most developed countries in the Arab Gulf with a high per capita GDP value. The country’s economy is based on raw materials, with oil and natural gas representing 40% of the total exports and 38% of the GDP.
The United Arab Emirates has the most liberal trade regime in the Gulf and over the past 40 years it has become the base of many start-ups and multi-million dollar conglomerates.
Thanks to the stable financial situation offered by the country, companies from all over the world have made the United Arab Emirates their base, and a growing number of offshore and onshore companies are established each year, bringing a huge influx of foreign capital that makes the economy even stronger.
What’s more, establishing your business in Dubai is even more prestigious since the city was chosen as the official headquarters of Expo 2020.
All local companies are exempt from corporation tax, with the exception of banks and companies active in the field of oil& gas. The lack of taxes on income, capital gains or inheritance makes the United Arab Emirates a very interesting jurisdiction for investors.