DUBAI

Dubai has changed dramatically over the last three decades. Dubai’s economy is no longer reliant on oil, but is more diversified, relying heavily on trade, services and finance sectors. Dubai enjoys a strategic location and serves as the biggest re-exporting centre in the Middle East. Dubai’s total international trade has grown on average by over 11% per year since 1988 and regional economic growth and liberalization should boost demand further. 

 

Its low logistical and operational costs and excellent infrastructure, international outlook and liberal government policies are attracting investors in a big way. Activities such as trade, transport, tourism, industry and finance have shown steady growth and helped the economy to achieve a high degree of expansion and diversification. Dubai is part of the UAE which is a low-crime and politically-stable country. Also, the UAE enjoys financial and monetary stability. Its well-developed, sophisticated banking system features extensive credit facilities and ample liquidity. Since November 1997, the dirham has been pegged to the 1 U.S. dollar = 3.6725 dirhams

IMPORTANT FEATURES:

  • No foreign exchange controls,

  • No trade barriers or quotas,

  • Competitive import duties (4% with many exemptions),

  • Competitive labor costs – labor force is multi-lingual and skilled.

  • Liberal visa policies.

  • Competitive energy costs,

  • Competitive real estate costs,

  • Competitive financing costs and high levels of liquidity,

  • No corporate profit or personal income taxes (except for oil companies and branches of foreign banks). 

  • 100% repatriation of capital and profits is permitted

  • Stable exchange rate exists between the US Dollar and the UAE Dirham 

  • 100% foreign ownership in the free zone

REQUIREMENTS:

Corporate Structure requirements in Hong Kong, please click here.

COST:

Please click here for the fees structure related to Hong Kong Incorporated Companies.