Abu Dhabi is one of the most sought-after cities when it comes to business development prospects.
The city forms among the seven emirates of the UAE. The Abu Dhabi Government reduced business restrictions and opened doors to a wide range of business. They came up with new reforms that completely transformed the business ecosystem in the country.
Opportunities are waiting at the doorsteps…
Would you not like to be a part of the Joyride?
When you are starting a business in the “business hub Abu Dhabi,” you are surely going to get certain benefits.
In this article, we are discussing the advantages of starting a business in Abu Dhabi.
Advantages Of Starting A Business In Abu Dhabi
There are many advantages that you are going to reap while you start a business in Abu Dhabi. Let’s discuss them right here.
1. No Corporate Tax
This is one of the most attractive business benefits that you are going to get if you start a business in Abu Dhabi.
Abu Dhabi is a tax-free city, which is why many companies open branches in the city and carry out their business activities.
No tax is levied at the Federal or Emirate level. Therefore you are getting huge benefits when establishing a business in the city. Moreover, there is no personal income tax.
2. Trouble-Free Recruitment Process
If you intend to work in Abu Dhabi, you can do it with a tourist visa. For this, you need to procure a tourist visa.
When you have got your job, you will need to get a working visa there. This makes the entire recruitment process trouble-free. Now that you have got your job, you need to exit to release the employment visa.
3. Low Import Duty
If you are importing from some countries outside the GCC, it is subject to 5% of the cost of the goods. This defines that you have to pay less import duty. This definitely acts to your benefit.
Now, if you are importing alcohol and cigarettes, the import duty for these products is 50% and 100%, respectively. However, the free trade zones have tax excluded.
4. No Minimum Capital For Forming Mainland Business
When it comes to the formation of business in Abu Dhabi, there is no such prescription on the minimum capital investment or share capital. You need not deposit share capital in a registered bank in Abu Dhabi.
5. 100 Percent Repatriation Of Capital And Profits
When it comes to doing business in Abu Dhabi, you are getting repatriation of 100 percent of profits made by the business without any restriction.
6. Affordable Office Space Along With Flexible Rentals
If you want to start your business in Abu Dhabi, the authorities work so that you are going to get affordable office space.
It is always not possible to buy infrastructure due to less capital. That time you need office space because you have lesser funds.
Do not worry. You need, there you are going to get good space at reasonable rates. Other than this, you are getting flexible rentals.
7. Easy Registration
When you are doing business in Abu Dhabi, you have easy registration. So you need not be in trouble. But at the same time, you need to take on certain things in some areas of registration.
When it comes to reservation and registration of trade names, you need to apply through the Department of Economic Development in Abu Dhabi. This is common to all other Emirates.
There are some terms and conditions associated with trade name selection.
- Abbreviate trading names.
- Trade names must not violate public sentiments.
- You can not use Allah or the name of any government authorities in your trade names.
- To be approved by the Department of Economic Development.
Other than all these, the registration process is quite easy if you are starting your new business.
8. No Annual Audits
Every financial organization audits its business at the end of the financial year, irrespective of the country to that you belong.
But if you are a mainland business in Abu Dhabi, you do not need to maintain it.
Therefore, you see the benefits that the authorities in Abu Dhabi are providing you so that it helps develop your business to many folds.
The transparency that you are getting in here will enrich you and your business enterprise.
Suman(Kul Prasad) Pandit is a graduate from Tribhuvan University with four-year experience in corporate and start-up sectors in UK and USA. Being a responsible & sustainable business enthusiast he is dedicated to business education to solve problems in entrepreneurship and business growth.