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Chapter 7
Setting Up a Business in the UAE Seizing The Opportunities
and transparent statistics. National Bureau of Statistics Centre was established in 2009 as the national statistics centre that provides comprehensive social and economic data.
Understanding the UAE Market A vital tool in succeeding any business in the world is understanding its market: its conditions, demand and supply. Providing the historical and today’s in-depth data allows investors to draw the conclusions of tomorrow’s success and therefore value the presented opportunities. Since the success of businesses partially indicates the growth of the country’s economy, the UAE government is keen to provide transparent up-to-date information through its statistics centers and by encouraging the establishments of business intelligence units. Obtaining updated economic information has become relatively easy with the establishment of official statistics centers, the coming of internationally-recognized consulting firms and the rise of young business intelligence houses. The advancement in technology has also boosted the methodology of presenting the figures. This enabled investors and businessmen to obtain secondary-research data from various sources at a convenient time.
National Statistics Centers The UAE is among the first nations that realized the importance of providing updated
National Bureau of Statistics www.uaestatistics.gov.ae Statistical Centre – Abu Dhabi www.scad.ae Dubai Statistics Centre www.dsc.gov.ae Ministry of Economy www.economy.ae Ministry of Foreign Trade www.moft.gov.ae Why UAE ?
Attracted by the economic expansion and the productive business environment, international business and industry intelligence units headquartered in the UAE to not only serve the country’s market but also to provide data that cover the MENA region. Examples of the most noteworthy these units are Pan Arab Research Centre (PARC), Nielsen, CB Richards, Jones Lang LaSalle and Zaway. In addition, growing local business intelligence units such as Medialogy, an intelligence house that provides tailored and customized business intelligence solutions for firms that are interested to operate in various emerging sectors within the UAE, are taking their appropriate positions today’s emerging market. The UAE is the home for some of the top global tier consulting firms that are prepared to assist investors and entrepreneurs for setup and best advice with strategies to utilize the opportunities in this growing region of the world. Not only do consultants provide business planning services but many consultants also can help investors projectmanage their business setup process and facilitate in the process of employing new local or expatriate staff, finding good premises, the best jurisdiction and office rent. Names like Price Water House Cooper (PWC), KPMG, Mckinsey & Company and Deloitte based their entire Middle East and North Africa offices in the UAE. Many small growing consulting firms also exist to serve investors and businessmen.
Outside Free Zones Select the Bussiness Location Inside Free Zones (Refer to Page -380)
Establishing a Business in the UAE In order to operate a business in the UAE, the business entity must be registered and licensed by the authorizing body. There are two main locations where to establishing a business in the UAE: establishing a business outside free zones and establishing a business in a free zone. They differ in the government authorizing entity, forms of business entities, types of business licenses, procedures and fees. Free zones are districts arranged by the government to encourage investors and businessmen to do businesses in selected sectors such Dubai Media City, Ras Al Khaimah Creative City, with exclusive incentives and privileges for foreign investors. A Business entity established in a free zone must comply with the regulations and follow the procedures of the free zone. For example, a company that intends to be established in Dubai Media City (DMC) must follow the regulations and procedures of DMC (refer to chapter 5 for more information on free zones). In contrast, a business entity established outside free zones is treated as a fully Emirati entity and can operate within the jurisdiction of the emirate. They must comply with the regulations of the Federal and local licensing authorities. The Unlimited Opportunities 2012
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