Business and Trade in DUBAI
The UAE lies at the heart of a strategic, geographic crossroads where trade, commerce and diverse cultures have co-existed and interacted for hundreds of years.
Today, the UAE has one of the most open and dynamic economies in the world. A number of global business indexes have recognized the advantages that the UAE brings to international business. AT Kearney ranks the UAE as one of the top 20 best places in the world for global service business. And the UAE is ranked in the top 30 on the World Economic Forum’s “most-networked countriesâ€â€"ahead of all other Arab nations, as well as countries like Spain, Italy, Turkey, and India. The UAE also gets positive rankings from Transparency International and the World Bank’s Worldwide Governance Indicators for control of corruption, ranking in the top quarter of the least corrupt countries in the world.
Other clear advantages to doing business in the UAE include:
- No restrictions on profit transfer or repatriation of capital
- No corporate or income taxes
- A currency, the Dirham, that is stable, secure and pegged to the US dollar
- Very low, or non-existent, import duties
- Competitive labor costs
These factors, combined with a strategic geographic location, an expanding infrastructure and an extremely safe environment, make the UAE an ideal place to do business.
An important trading partner for the United States, the UAE is the largest export market for the United States in the Arab World. More than 750 US firms have a presence in the country, and 30,000 Americans live there.
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