The benefits and challenges of doing business in the UAE

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As a known central hub of business in the Middle East and North Africa region, the UAE needs no introduction. Over the years, the Gulf nation has built up its reputation as a facilitating and enabling ground fertile for businesses looking to grow and make a mark.

Today the country stands at a position where being able to operate in and from the UAE is perhaps one of the most sought after propositions for the businesses across trade sectors aiming to tap global potential with seamless efficiency and unmatched productivity.

Quick and timely execution of projects, assured Government backing for new entrants, and availability of constant guidance and direction to businesses, are some of the many universally acclaimed benefits nurturing the national industrial ecosystem.

Layered and wrapped within these high-end objectives of national significance are the various other plus points, which contribute to the success and prosperity of prospective investors and employers, who seek a supportive environment to base their business foundations upon.

Assisting the national mission of attracting entrepreneurial talent to the chosen land of the UAE is the leadership of the country. Also, entities like the Seed Group, play an important role in making the overall business landscape conducive by heralding and propelling the perpetual wave of innovation-led talent and resources into the country.

It is the vision of the leaders of the country, coupled with supportive policies, and catalysts like Seed Group, that the growth trajectory for the Emirates has always been northwards. The wide-ranging platform of enviable benefits, which the country has to offer, is a sure shot way of making any business idea prosper by leveraging ‘The UAE Advantage’.

Amidst a bouquet of time tested plusses the UAE business ecosystem offers, choosing the most exciting part of doing business in this country still remains arguably the most stirring.

The benefits are numerous but here are some of the most striking ones:

1. Gateway to unlimited growth spurt

Consequent to its gifted geographical location, the UAE endows businesses housed here with robustly diversified investment and economic partnership opportunities with the larger world of Europe and Asia. It acts as a connecting point that allows the West and the East of the world to stay in touch. This is a hugely beneficial factor for businesses that aim to expand and operate for global customers. In fact, one of the best points that set the UAE apart from the rest of the business world is its unique geographic location.

2. Information tech advantage

The UAE has been at the forefront in harnessing the real-time advances in the IT field to forge greater resilience in its business environment. This innovation-major approach has led to enhanced trust and belief in the country’s financial fundamentals and hence in turn helped it gain a favourable business position in the global community. 

3. Negligible tax obligation

Spurred by the positive environment blueprint for a prosperous future, the UAE offers almost negligible lowest tax bases for investors. Belief in allowing businesses to grow both personally and at a community, the authorities have a single-minded focus on enhancing the profitability and efficacy of their business operations. 

4. Single-window approvals

Timely and effective interventions right through the initiation process ensure guaranteed approvals through a dedicated single-window facility operated by the Seed Group professionals. 

5. Strategies pivot for Asia and Europe business tapping

The UAE also offers the closest approach to new and settled businesses for lapping on to greater opportunities to do trade with Asian and European countries due to its strategic geographical locale. 

There are challenges too, but not the ones that cannot be dealt with: 

1. Greater business etiquette diligence

True to its core values of mutual respect and understanding, the UAE lays nuanced thrust on adherence to social business norms, a practice supported and fostered amongst professionals across the country. 

2. Prospering global community environment

Millions of people from across the globe choose the UAE as their home every year. The diverse amalgamation of nationalities into one cohesive unit nurtures a bright cauldron of collective and unified national ambition to take the UAE to greater heights. This positivity acts as an abiding principle of peaceful progress for businesses. Navigating this miracle to achieve trade success is an art that every business in the UAE must learn. 

3. Post-pandemic take-off

Pandemic onslaught has affected all countries across the globe and the UAE is also not isolated from its impact. The endeavour right through the Covid-19 phase has been to focus on defeating the virus and entering the post-pandemic business normalcy phase. If as a business you are making the decision to choose the UAE as your new home, you will be expected to catch up with the post-pandemic recovery pace. 

4. Acclimatising to the new normal

Besides obliterating the deadly virus phase, the UAE’s strident thrust has been to take along business in adopting the post-Covid-19 trade requirements to fasten the pace of recovery and normalcy in the business paradigm at the earliest. Again catching up with the swiftness may be a challenge for the businesses that are laid back and don’t want to move with the pace of time.

5. Securing the future

The UAE’s unstated affirmation is to continuously raise the standard of living of its people; with businesses as partners in this national mission. The UAE aspires to bridge all challenges in this path to set the bar higher!  

So if you think you have that spark to decide your future and write it too, relish, as your search for doing business in the UAE ends right here. 

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