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| A comprehensive guide
to current and future events and exhibitions in the UAE |
There are ample opportunities for doing business in the UAE. At the present
time the economy is booming – GDP having risen by 25.6 per cent in
2006. Although a significant proportion of that increase was due to higher
oil prices, government encouraged industrial diversification is also contributing
to economic prosperity.
A signatory of the General Agreement on Tariffs and Trade, the UAE supports
a liberal economy and is committed to free trade. The UAE currency is
secure and freely convertible. There are no restrictions on profit transfer
or capital repatriation. Import duties are low (4 per cent) and in the
case of foodstuffs, medicine, agricultural products, and items imported
for use in the free zones are non-existent. Corporate tax and personal
tax are nil. In addition every effort is being made to reduce the paperwork
involved in establishing a business in the UAE. These factors combined
with an excellent infrastructure and an extremely pleasant and safe working
environment bode well for future investment.
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