The United Arab Emirates A Global Hub For Business And...

The United Arab Emirates is a global hub for business and investment. Although the UAE is the world’s seventh largest producer of oil and natural gas, it has managed to shift its economic focus away from its deep wells. Today, the country derives 71 percent of its GDP from construction, healthcare, aviation, tourism and other non-oil sectors. With the Heritage Foundation giving the country an impressive 79.6 percent business freedom score, you have every reason to set up a company in the UAE and start trading. Here are 13 questions to ask before making the move: 1. What are the benefits of starting a company in the UAE? Although some Middle Eastern countries such as Iraq and Yemen are known for their unending wars, the UAE enjoys a peaceful and politically tranquil environment that enables businesses to thrive. Besides, the country is home to top banking institutions such as HSBC, Standard Chartered and First Gulf Bank, so you won’t have to look elsewhere for banking solutions and financial assistance. Roads, ports, railways, telecommunication lines and other pieces of infrastructure are extremely advanced, making it ideal for diverse businesses. 2. What is the UAE tax policy? The UAE has favorable taxation policies for both foreign and domestic businesses. But how favorable is it? The federal government doesn’t levy any tax on the income of individuals and companies. However, businesses in the oil and gas industry are subject to a 50-55 percent tax rate, while banks withShow MoreRelatedThe Role Of Aviation Industry : A Developing Country Based On Agriculture And Oil Reserves3368 Words   |  14 PagesColombia and United Arab Emirates. Colombia is a developing country based on agriculture and oil reserves. In the past, they had many internal problems with guerillas, and cocaine smuggling. 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