Starting Business In Arab Countries And Its Related Facts
There are several countries in the world that business people prefer to start their business. But, some of the persons those who are new to the business or entrepreneurs do not know where to start or setup the company. Those who are looking for setting up of a new company or a branch of an existing business can choose the United Arab Emirates.
UAE is the best place for setting up of a safe and fastest company. A number of services are available for setting up your business. For example, the Dubai freezone company setup will help business persons and organizations to set up their new business and in opening their branches. There are a number of reasons are there for starting or setting up company in UAE,
0 percent personal and corporate taxes
The first thing everyone looks while setting up a new business in other country is the taxes. The companies in UAE no need to pay any corporate and personal taxes and can enjoy 100% repatriation of capital and profit. This is an advantage and is the main reason for company setup in Dubai like Emirates countries.
No double taxation
The United Arab Emirates has signed the Double Taxation Agreement with many countries in the world to avoid the double taxation of other countries. So, there is no double taxation in UAE.
Competitive and strong economy
The economy of UAE is ranked as the 3rd across the nations in the world. This is because of the transparent and favorable business practices of the country and is stable political climate. Hence businesses can enjoy a highly dynamic and progressive environment. Company formation in Oman which is nearer to UAE also gives sufficient benefits to the business.
All the countries of related to the United Arab Emirates have the high-level infrastructure. For instance, to say, the infrastructure of Qatar attracts many businesses to company formation in Qatar. The business organizations can get excellent residential, tourism and commercial facilities across the country.
In general, starting a business in Arab countries like UAE, Oman, and Qatar etc involves some key steps such as
- Prior to starting the business it is important to decide the economic activity type
- Determining the legal form of business – There are a number of legal forms are there depending on the business nature
- After determining the legal form of business and its economic activity type the trade name registration has to be done.
- Finally, approval has to be obtained and license should be issued.