Entrepreneurs and investors looking to do business in the Middle East may be missing out big time if they don’t at least consider the United Arab Emirates (UAE) as a potential money-making destination. For the country continues to grow economically, despite the worldwide downturn, a success story underlined this week by the passenger and cargo figures released by Abu Dhabi International Airport which yet again show record increases. The country’s vibrant economy is a success story which many major Western countries can only watch develop further, but yet never hope to emulate.
UAE is an international money-making destination :-
The UAE is an international trading hub like no other, with dozens of free zones set up to attract both the SME and the largest multinational conglomerates in the world. A relaxed regulatory environment has developed in parallel, attuned to the needs and aspirations of a diverse business community. Big international banking is there, too, household names providing cutting-edge business banking services. From the business credit cards available from HSBC, for example, to the trade services offered by Barclays, all of these aim to make trading overseas more efficient and also much safer.
Setting a business up in a free zone is almost as easy as obtaining a UAE bank account these days – well maybe that’s a slight exaggeration. But, believe it or not, it’s not too far off the mark. You can certainly set up a free-zone business in days as opposed to weeks and months. Indeed, there are many companies who’ll take you by the hand and lead you gently through the whole set-up process. Of course, you’ll pay them for the privilege of doing so. However, for anyone short of time but not strapped for cash, it could be a good move.
The benefits of operating a UAE free-zone company are many, all of which are designed to entice foreign investment into the country. However, if a business is primarily dependent on location then the UAE is perfectly placed, a bridge between emerging markets both to the east and west. But it doesn’t stop there. Add in state-of-the-art infrastructure, first-class ports, airports and roads, and competitive energy costs and you have enough in place to meet the desires of the most discerning business palette. Thousands of companies from around the world are already doing business within these free zones. Many more are lining up to join them.
Business bottom-line benefits are also legendary, beginning with zero personal and corporate tax. Other benefits include: 100% foreign ownership; 100% repatriation of capital and profits; no foreign exchange controls; purpose-built infrastructure options and much, much more. There’s little or no restriction either with regard to the people you want to employ in your business.
Now back to the Abu Dhabi International Airport (ADAC) figures for September 2012 which show a 14.5% growth in passenger traffic compared with the same month last year. The figure represents some 1.2 million passengers passing through its facilities during the month. Aircraft movements also continued to steadily grow by 8.4% during the same period as did cargo volume, which recorded an increase of 24.9%. Incredible figures reflecting the fact the United Arab Emirates is now one of the best places to do business in the world. Click here for more information about Abu Dhabi International Airport.
Author Bio :
The guest post was contributed by Sam Payn, financial guest blogger. He is a member of some financial communities.