PARAG PAREKH AND CO , CAs
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Om Shri Padmavati Parshvanathay Namah 
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UNITED ARAB EMIRATES 





The United Arab Emirates is formed by 7 Emirates and each Emirate is governed by its visionary Ruling Family.  The country runs under the federal system as  well as under local laws and decisions.
 
Out of  all the 7, Emirate of  Dubai spearheaded its own economic development and was the  1st of its kind in the Arab World called the MENA region TO stimulate healthy economic competition amongst the Emirates and other countries.

Their Highness, the  Past and Present Rulers of the UAE
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LATE H.H. SHEIKH ZAYED BIN SULTAN AL NAHYAN, RULER OF ABU DHABI
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LATE H.H. SHEIKH MAKTOUM BIN RASHID AL MAKTOUM, RULER OF DUBAI

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H.H. SHEIKH KHALIFA BIN ZAYED AL NAHYAN, RULER OF ABU DHABI
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H.H. SHEIKH MOHAMED BIN RASHID AL MAKTOUM, RULER OF DUBAI
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H.H. SHEIKH DR SULTAN BIN MOHAMMAD AL QASIMI, RULER OF SHARJAH

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H.H. SHEIKH HUMAID BIN RASHID AL NUAIMI, RULER OF AJMAN
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H.H. SHEIKH SAUD BIN RASHID AL MU'ALLA, RULER OF UMM AL QUWAIN
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H.H. SHEIKH SAUD BIN SAQR AL QASIMI, RULER OF RAS AL KHAIMAH
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H.H. SHEIKH HAMAD BIN MOHAMMED AL SHARQI, RULER OF FUJAIRAH

           
PEOPLE    IN     UAE 

 
UAE nationals are down to earth citizens upholding their culture and values and have  a excellent sense of economic development. Population of UAE is approx 8 million with almost 80% expats of numerous nationalities.


UAE nationals are employed in banking and government sector. 






DoInG 
   


BusInEss    IN   DUBaI   


& 


UaE

PictureSHEIKH ZAYED GRAND MOSQUE - ABU DHABI

UAE offers: 

  • 100% ownership of business in free zones 
  • No foreign exchange restrictions
  • NO corporate and personal income taxes (except for banking, insurance  and oil  companies)
  • Fixed rate of 1 USDollar = 3.675 UAE Dirhams   (hence no exchange losses)



UAE offers: 


  • 5% import duty (nil in free zones) 

  • Competitive power supply for manufacturing units

  • 100% ownership  of residential and commercial real estate outside the free zones in designated areas

  • Long lease of land in free zones, own construction allowed



UAE  offers:



  • State of the art modern infrastructure, vibrant seaports, airports, metro rail

  • Computerized and highly efficient government departments

  • Multi cultural environment, excellent tourism, services and robust retail sector

  • Elegant and risk free ultra modern life style, highly skilled expat manpower



UAE offers:

  • Competitive cost of manufacturing, probably manpower cost could be more compared to home country but would offset considerably against ZERO corporate taxes and higher volume of business

  • Low cost finance available from local and foreign banks from the 3rd year  
 



SHARE CAPITAL 


requirements 


vary from 


AED 50,000/- 


to 


AED 1,000,000/- 
Hence:

Setup production facilities in UAE, supply the finished goods to customers in the Middle East and North Africa region including India and South Asia (more than 25 countries). 

Wholly Owned Subsidiaries can very efficiently operate in UAE free zones and its income would be taxed in the parent’s country  only when WOS remits dividends to its parent. 

The WOS can also incorporate subsidiaries in other parts of the world thereby building up a multinational corporate. 


NATURE OF BUSINESS


Dubai and the UAE significantly thrives on Tourism, Trade and Real Estate business.

An expat or a foreign corporate can  setup business virtually in any sector viz., manufacturing,  high end retail,  construction, hotels, education, trading, logistics, shipping, banking, insurance, restaurants, professions, etc

A permitted business can be setup in any of the Emirates.   Free zones mainly allow trading, services, manufacturing.  


EQUITY 


Free zones offer 100% ownership of business whereas non-free zone areas stipulate  51% shares to held by a UAE national in a business.


LAND


Land can be owned in designated areas in Dubai, UAE.



Commercial, Residential and  Industrial buildings can be developed on leased land or freehold land in  designated areas by expats. 
                    
                     

RESIDENCE VISAS


Expat employers,  employees and their families are given a 2  year residence visa ( 3 years in free zones)


BANKING 


UAE Banking sector is well developed and quite automated with more than 50 banks - both local and foreign competing each other.
 

Interest rates on term loans vary from 5% to 8% pa.


Interest on Working capital facilities are at  9% to 11%.


Interest on Mortgage loans for residential property are at 5% to 6% pa. 

Credit facilities are given to new expat businesses from their 3rd year onwards.  




FREE ZONES 


in 


DUBAI  and  UAE  




Free Zones in Dubai, UAE


  • Dubai International Financial Center 
  • Jebel Ali Free Zone 
  • Jebel Ali Offshore ( for real estate etc)
  • Dubai World Central Free Zone
  • Dubai Airport Free Zone
  • Dubai Silicon Oasis
  • Jumeriah Lake Towers Free Zone
  • Dubai Multi Commodities Free Zone
  • Dubai Media City 
  • Dubai Internet City
  • Dubai Academic City
  • Knowledge Village
  • Dubai Studio City
  • Dragon Mart ( for Chinese)

Other Free Zones in UAE: 

Masdar City Free Zone, Abu Dhabi , UAE
KIZAD Free Zone, Abu Dhabi, UAE

Sharjah Airport International Free Zone, Sharjah, UAE
Hamriya Free Zone, Sharjah, UAE

RAK Free Trade Zone, Ras Al Khaimah, UAE
RAKIA Free Zone , Ras Al Khaimah, UAE

Ajman Free Zone, Ajman, UAE
Fujairah Free Zone, Fujairah, UAE
Umm Al Quwain Free Zone, Umm Al Quwain , UAE






SPEED

 

Business with staff and family can be setup 
quickly in a span of  1 to 2 months.


DUBAI and UAE ........



luxurious
, traditional yet modern,  dream city........

different....plush cars...... 

high end residences....... superior quality of life........

elegant faces ....... tourism.......INNOVATIVE... 

camels, desert.......horse races, golfing........ beaches....

yachts.........high end malls...... nightlife.........

high standard international cuisines.....
 freedom

amazing parks......  seaports ....... FASCINATING......



...................................the Glitterati of the Arab World........
 
AND still a long way to go............................





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