Business owners are always looking for the best possible ways to grow their business. One such method is to relocate the business to an area that is more business-friendly. Over the past several years, one of the destinations of choice has been the United Arab Emirates, or the UAE. Thanks to some policies enacted by the leaders there, more businesses from around the globe have shifted their companies to this area. Why are they moving there? What benefits or advantages does it offer? And do we expect this trend to continue?
Since taking over for Ras Al Khaimah, a member of the UAE, Sheikh Saud Bin Saqr Al Qasimi has been one of the most proactive leaders pushing for more business-friendly laws. He has created an entire foundation, called RAK Offshore, aimed at finding ways for entrepreneurs to succeed in the UAE. Businesses in the area now have some of the lowest tax rates around the world, making it more financially feasible for businesses to move their. Since less money is going into the government, there is more money to spend on the business to help it grow. On top of that, the infrastructure in the UAE has been vastly improved over the past several years. There are now vibrant cities for the employees to work and live in, along with the technological equipment necessary to run a business in this day and age. Companies that move there can now expect to see many of the same comforts that they would at home, allowing their business to be productive, and their employees happy.
Another advantage that the UAE offers is its location. The UAE is situated right in the middle of the world, and in today’s global economy, this is an advantage. Countries can use their offices in the UAE to work with any country around the world and not have to worry as much about the time difference. It also makes travel easier, as everything is just a short plane ride away. Instead of doing all communications via the internet, more things can be completed in person because of the central location. There are also many natural resources nearby, making it ideal for companies that work with this materials to have their central headquarters nearby.
The last major advantage that the UAE offers is its social policies. If you are coming from a Western nation, not much will feel different when you are living in one of the major UAE cities. These places have become very Westernized, and can help new employees adapt more quickly to the change. Moving to a foreign country can have a bit of a culture shock, but when that area is similar to your own, this change can be less drastic. On top of that, there are many tourist attractions within the UAE, so if friends and family want to come visit the employees living there, there are many things for them to do.
As you can see, there are many strategic advantages to relocating a business to the UAE. On top of the financial benefits, there are many things in place that will help to keep your employees happy. It is for these reasons that the UAE has become such a hot spot for new businesses. Over the next several years, we expect to see even more businesses and large events being shifted to the UAE in order to take advantage of these benefits.