Growth of UAE Business and Economy

Growth of UAE Business and Economy due to Non-Oil Private Sector Business Activity

March, 2017

Increased UAE Company Formations from Surge in Non-Oil Business

An increase in UAE company formations is strongly predicted due to the surge in the UAE’s non-oil private sector business activity that has reached an 18-month high.

According to statistics from a survey sponsored by Emirates NBD Bank, last month the UAE’s non-oil private sector recorded the greatest and fastest growth since the 3rd quarter of 2015.

More specifically, the UAE’s non-oil private sector business activity has recorded a:

• High increase in demand for new business
• Boost in output
• Increase in output prices since October 2015
• Increase in number of new jobs

This is welcome news as the strengthening of the UAE economy will no doubt lead to a considerable increase of foreign investors who will choose the UAE to set up their companies.

Read Why UAE Company Formation is a Recipe for Success

The Main Benefits of a UAE Company

The United Arab Emirates is recognized around the world for its top class business credentials.

As many of you are aware, there are numerous, specialized free trade zones throughout the UAE.  These free zones were created in order to attract foreign investors to the Emirates.  The free zones or administrative units are under the direct control of the state authority that carries out the licensing of business activities in each territory.

It is well known that the main attractiveness of the UAE free zones lies in the ease of setting up and running successful businesses.  The UAE is the perfect place for new company formations. 

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The main benefits that investors can enjoy with a UAE Free Zone Company formation are:

100% company ownership by foreigners – investors can have full ownership of their business without needing a local partner.  For non-UAE free zone companies, this is not possible as non-UAE residents have to  set up a business with a mandatory local UAE resident who will own a minimum of 51% in the business if the company has a commercial or industrial business license

• 0% income tax rate
• 0% tax on sales, wealth and capital
• 100% exemption from import and export custom duties
• Option for 100% repatriation of capital and profits with zero restrictions
• 0% surprises / restrictions
• Many UAE free zones targeted at a specific sector, meaning that investors have easy access to the specific sector’s services and expertise
• Simpler and faster company formation within the UAE free zones than formation of a non-UAE free zone company
• Low cost of workforce and easy recruitment
• Long term lease options of many world-class facilities and the availability of ideal infrastructure to do business like land, roads, connections etc.

Click Here to Read More Details on the Advantages of Setting up a Company in the UAE

and

Click her to Read about the Lifestyle Advantages that the UAE Offers

Click Here to Make the Right Move – Start the Set Up of Your UAE Company

If you’ve now decided to set up a UAE company ….. What Next?

Set Up Your Company in One of the Most Attractive Global Business Destinations – the UAE – Contact Us

Setting up your company in one of the UAE’s free zones probably seems like a daunting move.  We advise you to seek professional assistance.

Our Team at FBS Kotsomitis can assist you set up and run your new UAE company in RAK, Dubai and all the Arab Emirates.

We are fully licensed UAE company formation corporate service providers and part of an international professional network.

We assist you to choose the ideal type of company and license and we handle the set up procedure fully.  When your company is incorporated we can support you with the running of the company as we provide accounting, bookkeeping, Tax, VAT, banking, Visa and a host of other services.

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Contact us to Discuss Your UAE Company Registration Needs and for Guidance and Consulting

There are only 5 simple steps involved in setting up your own UAE Free Zone Company – Click Here for more details of the 5 Steps for Your UAE Company Formation

Contact Us to Capitalize on the UAE Tax and Other Unique Benefits

More on the Rebound of UAE’s Non-Oil Economic Growth…

The report on the UAE’s non-oil private sector states that the next 12 months or so look positive and it is expected that this encouraging economic scenario will continue for the UAE’s non-oil private sector.  Companies will enjoy higher profits and cash flows and will start to employ more staff.

Moreover, UAE’s non-oil economy will continue to strengthen from a spur in investment and trade for Dubai Expo 2020.

According to the IMF mission to the UAE, the non-oil Gross Domestic Product is forecast to increase by 3.3% this year and the budget deficit is forecast to shrink to 4.5% of GDP.  IMF reported that the UAE will eliminate its deficit by 2022 as VAT being introduced from the beginning of next year will increase state revenues.

It is pleasing to note that one in five companies has forecasted an increase in output for the next year and has embarked on robust marketing campaigns with new, exciting projects in the pipeline.

These are indeed encouraging signs.  It really looks like the UAE’s non-oil economy has bounced back from the last couple of belt-tightening years.

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