Guide to Doing Business in UAE
Positioned at the centre of the world, the UAE is one of the globe’s most connected countries.
The UAE has thrived on its East-West links over its nearly 50-year history and lies at the heart of the Asia, Africa and India triangle. Historically, its geographic location has facilitated secure connections, business networking and access to trade, making it one of the most attractive places to do business. Find out how to create a company in the UAE with our essential guide.
An Overview of the UAE
As thousands of new business opportunities are discovered each year, the UAE is the perfect gateway between East and West. It also happens to be the preferred hub for the region’s imports and exports market, and in turn, one of the world’s most lucrative. There are no profit repatriation restrictions, offering you outstanding opportunities for your professional success and personal finances.
The UAE is a participant in many free trade agreements, ensuring that goods produced in the UAE are exportable without customs fees. Other benefits in the trade realm include mutual investment protection treaties and customs benefits for imports and re-exports. For goods coming from any country in the Gulf Cooperation Council, the importer only pays customs fees once, and when re-exporting products, customs fees do not apply when storing goods within the confines of a Free Zone.
The UAE was formed in 1971 as a federation of seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. The UAE has an estimated population of 8.6 million, of which almost 80 per cent are expatriates. In just over four decades, the country has successfully diversified its economy from hydrocarbon and focused on becoming a regional and global centre for business, trade and finance.
About the UAE Federal Constitution
The UAE federal constitution provides the framework for the federation and is the basis of all legislation enacted at the federal and emirate level. The Emirati constitution dictates that the federal government has exclusive jurisdiction in various substantive matters but each emirate has considerable power to control its commercial activities, issue trade licenses and implement the incorporation of corporate entities. Every Free Zone in the UAE has its own set of regulations regarding these parametres.