If you have never thought about setting up a business in the UAE, now is the right time, thanks to current improvements. Thus, apart from the continuous facilities, the government reduced the cost of 14 business services in the country.
In this article, we will show you what these rebates are all about and what benefits you get from starting your business in the country. Let us see:
- The government lowers fees for various business services
- Take advantage of the benefits of the UAE economy
- Connect FZ gives you the best options to establish your business
1. The government lowers fees for various business services
The UAE government announced a reduction in the rates of 14 services for companies, as part of its economic policies. In this manner, it seeks to bring people for doing business in the UAE by improving the business environment. In this case, it should be remembered that the United Arab Emirates ranks number 12 in competitiveness worldwide.
The Ministry of Industry and Advanced Technology (MoIAT) made this measure effective, which came into force on January 1. In addition, the order includes 14 services (between main and secondary), as well as the elimination of a service fee. Therefore, it is the best time for you to start your business in the country with the right assistance.
In this way, the measure is in line with the initiative “Make in the Emirates”, established to attract local and foreign investors. Also, the ministry declared that this initiative supports entrepreneurship and SMEs, by reducing the cost of services. Thus, the UAE consolidates its 12th position in the world ranking and 1st place in the MENA region according to the World Competitiveness YearBook.
This ranking is established and published by the International Institute for Management Development (IMD). Likewise, according to the Doing Business Report of the World Bank, the country is ranked number 16 worldwide. In addition, it is number 1 among the Arab countries for the facilities it offers for the establishment of businesses in mainland or in a Free Zones.
Thus, if you want to establish a business in the UAE, you will find an environment where you can conduct your business easily and efficiently.
1.1 What are the discounted services for a business in the UAE?
With the new rates lowered by up to 92%, the government allows more business opportunities in Dubai. Among the services whose rates were lowered are the following:
- The issuance of product conformity certificates from a supplier of a specific conformity assessment decreases from AED 1000 to AED 670 (32%).
- Certificates of Conformity for optional or unrestricted products decrease from AED 3,700 to AED 1,720.
- Licenses that allow the use of the UAE Quality Mark decrease from AED 26,000 to AED 2,000.
- Licenses that allow the use of the national Halal brand decrease from AED 18,000 to AED 2,000.
- By expanding the scope of both brands the cost decreases from AED 2500 to AED 250.
- The reporting fee for conformity assessment bodies decreases from AED 33,000 to AED 24,500.
- For the registration fees of the conformity assessment bodies, the cost decreases from AED 7,500 to AED 5,000.
- The MoIAT also removed the fee for selling UAE standards, which cost AED 481.
2. Take advantage of the benefits of the UAE economy
In addition to the above measures, the national government has been implementing similar measures to attract foreign investment. For example, it is now easier to obtain a license for business in Dubai through a specialized service. Besides, you have the opportunity to establish your business in any of the 7 Emirates or any of the 40 Free Zones.
Below, you can see the main advantages of establishing a business in the UAE:
- There is no restriction regarding international currencies.
- You can run your business from anywhere in the UAE.
- The authorities offer various types of trade licenses and business activities.
- A major mainland market to do business in Dubai or globally.
- There is no personal or corporate tax.
- You can repatriate 100% of your capital and profits.
- You can easily get work visas.
Therefore, thanks to all these features and many more, establishing a business in Dubai or any of the other 6 Emirates is your best option.
3. Connect FZ gives you the best options to establish your business
You already know the advantages of establishing a business in the UAE, now you just need the best help. To do this, you simply have to contact us.