There are a number of oil countries in the Middle East that have no income tax, and the UAE is considered one of the most attractive, with a relatively stable government and economy. The UAE has a thriving economy and a more multicultural environment than the majority of countries in the Middle East. This translates into excellent dining and entertainment options. There are also very good educational facilities available. The rule of law is followed relatively well.
The basic cost for setting up a company and maintaining it are transparent. From paid-up capital requirements to mandatory office space and trade licence fees, entrepreneurs need to set aside as much as $10,000 (Dh36,730) in annual costs, depending on the kind of company they are starting. But this is low compared to many other countries like Singapore.
The UAE is one of the “smartest” countries in the world in terms of internet penetration and infrastructure, making it ideal for connected start-ups.
With numerous free zones, excellent infrastructure, no taxes, low import duties and a strategic location, the UAE scores far ahead of neighbours such as Bahrain (65), Qatar (68) and Saudi Arabia (82). For instance, it takes only six procedures and eight days to open a company in the UAE, compared to 8.2 procedures and 18.8 days in Mena, and 4.7 and 8.3 worldwide.