Investment
Incentives
The Middle
East and especially the United Arab Emirates (UAE) are a very attractive market
for trade and industrial production. The number of foreign companies regularly
participating in international trade and industrial fairs in the UAE as well as
the increasing number of foreign companies establishing their regional headquarters
in the UAE are proof of the significant economic development of this region.
The UAE
has experienced impressive political stability and remarkable economic growth
and has transformed itself into an international business centre of global significance.
While oil was traditionally the mainstay of the economy, great efforts are being
devoted to diversification and now, oil production only contributes to 20% of
the country's GDP.
Within the
UAE, the Emirate of Dubai has developed into an international trading hub by
expanding its trading activity far beyond its traditional base in the countries
of the Gulf Co-operation Council. Today, Dubai offers international companies
an ideal gateway for developing their business throughout the Far and Middle
East as well as the North-African countries.
Foreign
companies setting up in the UAE can secure cost advantages that are not generally
available internationally. Among these advantages are:
•
No corporate taxes
•
No income taxes
COMPETITIVE ADVANTAGES •
No foreign exchange controls
•
No trade barriers
•
Double taxation treaties
•
Modern infrastructure
•
Competitive import duties
• Competitive labour costs
These
investment incentives contribute in making the UAE a prime business location.
Jörg
Seifert, Al Sharif Advocates & Legal Consultants, Marriott Hotel Complex
/ Hamarain Centre, P. O. Box 8867, Dubai - UAE
tel: +971-4-2628 222 fax: +971-4-2628 111 mobile: +971-50-6367 443
Jörg Seifert is a German advocate (Rechtsanwalt) and member of the Bar
Association (Rechtsanwaltskammer) Oldenburg/Lower Saxony.
He is practising his profession in accordance with the provisions of the Rules
and Regulations for the German Bar.