UAE Business Climate
Doing business in the UAE is very attractive due to the following reasons
- No personal income and capital taxes
- No corporate taxation
- 100% repatriation of capital and profits
- No currency restrictions
- Competitive import duties (5% with many exemptions).
- Modern efficient communication facilities
- Abundant and inexpensive energy supply
- Simple staff recruitment procedures
- Competitive freight charges
- Competitive real estate costs.
- Easy access to both sea and airports.
UAE CORPORATE TAXATION
There is no corporate tax or personal tax in the UAE.
The only exceptions to this are oil producing companies and branches of foreign banks.
Direct taxation is against the traditions of the UAE and it is highly unlikely that it will be introduced in the future.
UAE CURRENCY AND EXCHANGE RATE
There are no exchange controls in the UAE and its currency, the UAE Dirham, is freely convertible.
The Dirham is linked to the US dollar, the currency by which oil prices are measured.
The exchange rate has remained at Dh 3.675 = US$ 1 since 1977.