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Reasons Why Now is the Time to Relocate to the UAE

Reasons Why Now is the Time to Relocate to the UAE

As one of the most popular destinations for businessmen and foreign investors, the UAE’s reputation as one of the countries providing high-quality welfare, launching exceptional initiatives, and tax policies are only growing. Despite the oil price downturn, UAE has not suffered from economic turmoil since a huge portion of its revenue is based on foreign investment and licensing. There are many reasons for relocating a business to the UAE at the moment:

Golden Visa

The golden visa holders can extend their visa advantages to their spouses and children. This visa is valid for ten years. Below are all the qualified candidates and conditions necessary to apply for the Golden Visa. It is noteworthy that the applicants should have a valid employment contract issued in a specialized field of a-priority in the UAE.

100% Company Ownership

One of the huge advantages of conducting business in the UAE is foreign investors can own their businesses 100% from December 1, 2020.

This strategy has been implemented in a federal law issued by President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, amending the Law No. 2 of 2015 regarding companies and their shareholding.

One-hundred percent business ownership by foreign investors owning companies based, licensed, and registered in the UAE is now permitted as per Cabinet Resolution No. 16 of 2020. Previously, emirates citizens were involved in allowing foreign company owners to acquire the companies’ remaining stakes on a case by case basis. The recently approved amendment extends and facilitates this procedure significantly.

The amendments of the new law consisting of 51 articles and new terms and regulations, mainly focusing on the terms and provisions of established companies with limited liability shareholding. One of the great advantages of the new amendments exempts foreign investors from the UAE citizens minimum percentage ownership.

Low Costs and Easing  Businesses Processes

The government provides businessmen and investors economic packages as a head start for establishing their business. These include fee and tax waivers, various payment options to spread the business costs, and legal reviews to promote real estate investment more attractive. Abu Dhabi recently announced an AED 50 billion economic stimulus package to diversify the economy and economic growth. Dubai has introduced councils to i) ease running a business, ii) support various sectors, iii) bolster the tourism industry, iv) develop the local economy, v) create more jobs, and vi) licensing, which in turn will lead to attracting more capital through foreign investment. All these policies especially benefit small or medium-sized businesses and make it the best time for relocating their business in the UAE. 

Attracting experts and talents

The UAE government is set to attract young talents and become one of the future educational hubs. Students can benefit from visas lasting for five years, and exceptional students can apply for visas lasting for ten years. For top students, there is the opportunity to apply for a two-year residency visa to encourage them to stay in the UAE and seek career opportunities within the country.  

Looking to start a company in the UAE or invest in the region? Talk to one of iKonnect Citizens‘ Citizenship and Residency Specialists today. Call +971 50 152 4200 or email info @ ikonnect.ae.

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