About Abu Dhabi and Market Entry
As a dynamic hub for global commerce, investors view the United Arab Emirates (UAE) as a key component in their worldwide operations. The UAE is well established as the prime destination for multinationals to set up their regional base and serve the high growth markets in the Middle East, Africa and South Asia. It is also the perfect location for new business setups across diverse sectors.
The main driving force behind this economic and commercial expansion has been the UAE’s shift towards increasingly liberal economic policies, particularly the creation of economic and financial free zones, and diversification. Its success achieved international recognition with the decision to locate the World Expo in Dubai in 2020.
Historically Dubai has been the primary commercial hub of the UAE but over the last few years, Abu Dhabi, the federal capital and the largest of the seven emirates, has also been working hard to increase its global presence as a centre for all commercial activities, not just the oil and gas sector.
The Abu Dhabi Economic Vision 2030 outlines the government’s general policy framework for economic development and its plans for economic diversification over the next two decades, through greater investment in knowledge-based industries. Abu Dhabi’s non-oil industries – notably aviation, clean technology, financial services, legal services, travel, tourism and education – currently contribute over 60% of the Emirate’s GDP, with high levels of investment in infrastructure having a multiplier effect on the wider economy.
The Vision calls for greater collaboration between the public and private sectors in implementing the government’s policies and plans. It also identifies the following points as the priorities to achieve an ambitious economic transformation by 2030.
If you want to establish a business in one of the safest, most affluent and fastest growing markets in the world, Abu Dhabi is the right place. Whether you are planning to set up a new business in the Emirate or open a branch of a company based outside the country, the procedures are transparent and flexible.
As with all the Emirates, there are no income or capital taxes in Abu Dhabi, except for oil and domestic banking, and no withholding taxes. Companies in Abu Dhabi can obtain further significant benefits from the absence of foreign exchange controls, trade barriers or quotas, making it an ideal location for business set-up and company formation.
It is important to have a full understanding of your options before deciding how to establish your company’s presence in the UAE. Overall growth for your company in the UAE can be hampered by making the wrong choice, so please consider the following points when deciding the best structure for your needs.
Licensed by Abu Dhabi Global Market UAE Department of Economic Development