The UAE’s Booming Hubs Your Business Should Relocate To And Why
Nestled between Europe, Asia, and Africa, the United Arab Emirates is located within eight flying hours of two-thirds of the world’s population. The nation’s exceptional geographic location, however, is just one of the many reasons it has become a bustling business hub.
Foreign investment is encouraged and supported with 45 Free Zones spread across the seven Emirates, offering attractive benefits including full foreign ownership and exemptions from import duty, VAT and personal taxes, as well as import and export taxes.
It’s no secret that life in the UAE is one of luxury, with world-class entertainment, dining and nightlife, and cutting-edge infrastructure. It’s a place where a dream can become a reality, and therefore, dreaming big is encouraged.
The changing law of the land
In September 2020, amendments to the UAE Commercial Companies Law saw the removal of the requirement for a UAE national to own at least 51% of the shares in the capital of a UAE company, and the requirement for branches of foreign companies in the UAE to appoint a UAE national agent.
In a move that contributed to the UAE ranking 16th on the World Bank’s ‘Ease of Doing Business report, the UAE implemented a full foreign ownership policy in June 2021 and is recognised for being a nation where starting a business takes just five minutes.
Expo 2020: limitless exposure to the world’s best and brightest
There’s no better time to relocate your business to the UAE than now. From October 2021 until March 2022, Expo 2020 has set the stage for unparalleled business opportunities. From seminars to summits, networking to product launches, the calendar is packed with global investment forums, investor pitching conferences, and addresses from the who’s who of the business world.
The Emirates with the best relocation opportunities
The current hotspots are Sharjah, Dubai, and Abu Dhabi, which extend in that order along the UAE’s western coastline. Commercial properties for sale and rent will accommodate corporate and retail operations with offices, shops and warehouse spaces. For larger operations looking to relocate, a real estate expert will facilitate inspections of buildings for sale and commercial space for rent.
Home to Expo 2020 and more than 30 Free Zones, Dubai hums with a population of 2.9 million. The ultra-modern architecture, luxury shopping and world-class entertainment venues make this a city teeming with opportunities and an appetite for new ideas. Dubai’s Free Zones registered more than AED135 billion in economic value in Q1 2021.
Abu Dhabi is the nation’s capital, with part of it sitting just off the mainland on an island in the Arabian Gulf, and playing host to more than 1.5 million residents. Abu Dhabi has five comprehensive Free Zones that cover multiple industries and trades, including aviation, financial services, renewable energy, manufacturing and logistics and media-related activities.
Sharjah has three free zones and with its population growing steadily each year by 3-4%, the Emirate is a hub for development.