The administrative capital of one of the fastest developing countries in the world, Abu Dhabi is about three fourth of the whole area of United Arab Emirates. After Dubai, it is the second most populated city and the richest emirate as it controls about 10% of the world’s and about 95% of UAE’s oil reserve. But Abu Dhabi’s economy currently is not solely dependent on oil-based GDP. Investments in various sectors like tourism, retail, real estate and various business sectors for industrial development since 2009 had seen growth in non-oil based GDP. This huge shift towards Abu Dhabi embracing new business investors and striving towards all-round development of its economy had opened the doors for formation of companies in Abu Dhabi.
The following are few reasons that make Abu Dhabi a great location for forming your new business:
- As Abu Dhabi is prosperous and safe, it is a good location to consider as the spot for your new business. This idea is solidified when one considers the economy of Abu Dhabi which is flexible and transparent and is also one of the fastest developing economies in the world.
- Abu Dhabi offers a plethora of options when it comes to business set-ups. Multiple, diverse economic sectors are made available to be considered.
- Located in the south-eastern side of the Arabian Peninsula, Abu Dhabi is at a prime location that gives it easy access to Asia, Europe and Africa. This viable location that ensures ease of business operations makes it a sought-after location for new business set-ups.
- In a new amendment to the previous requirement to have a local partner to own any business in UAE, Abu Dhabi now allows 100% foreign ownership. This aspect makes owning a company in Abu Dhabi even more profitable.
- What makes Abu Dhabi even more attractive as a location for new company formation is the fact that it also offers exemption from corporate tax to all businesses and exemption from personal income tax to all business-owners and employees.
- Another huge positive benefit of doing business in Abu Dhabi is the fact that there is no foreign exchange controls or quotas or trade barriers.
- The corporate norms and procedures of conducting one’s business is fairly simple in Abu Dhabi.
- The procedure of setting up your new company in Abu Dhabi is very easy and thus the time taken to do so is less.
- When one plans to form their new company in Abu Dhabi one can choose to set it up in the Mainland or a Free Zone or have an off-shore company.
- The standard of living in Abu Dhabi is high and healthcare, education, entertainment, transportation are all world-class making this prosperous city a great place to live and run your business in.
The license to form your new company in Abu Dhabi can be acquired after the approval from the Abu Dhabi Department of Economic Development.
The process of forming a new company may be simplified with the help of an expert partner. Flyingcolour Business setup services has been helping clients set-up businesses since the past 17 years. We can help you set up your new business in a hassle-free manner. Please feel free to mail your queries at firstname.lastname@example.org or contact us at +971 4 4542366.