With an impressive 46 years of national development and resilience, the UAE is the 17th Most Competitive Economy Globally, and works to enhance this status by diversifying its national income.

Features of UAE’s Solid Economy

The UAE encourages private sector growth and competition, enforces regulations that prohibit monopoly and has strong ties with key regional and international trade associations.

The UAE is:

• A member of the World Trade Organization ( WTO) since 1996.
• A member of the Greater Arab Free-Trade Area ( GAFTA) in which all GCC countries participate.
• Concluded Free Trade Agreements with Singapore and the EFTA.
• Cooperating with the GCC countries to conclude the Free Trade Agreements with the EU, Japan, China, India, Pakistan, Turkey, Australia, South Korea and Southern Common Market (MERCOSUR).

The UAE has a long-term political stability, with open diplomatic policy worldwide. The UAE has >100 dynamic diplomatic missions abroad, and <200 foreign diplomatic missions in the country.

The UAE is:

• A member of Gulf Cooperation Council (GCC), Arab League and the UN and its agencies.
• The 3^rd most peaceful country in the region according to the Global Peace Index 2017, compiled by the Institute for Economics and Peace, a New York think tank.

The UAE is a safe place to live and invest in. Tolerance and respect to diverse culture are evident in the UAE.

The UAE is:

• Ranked 20^thglobally in the general index of the World Happiness Report 2018.
• Ranked 21^st globally in the quality of Life Index by Numbeo.com 2018.

The UAE presents an extremely favorable business environment. Excellent infrastructural facilities coupled with professional expertise and personalized services give the UAE the edge. Investors needs are met in the shortest time frame

The UAE was ranked 21^th globally, as per the World Bank’s Ease of Doing Business Report in 2018.

The UAE is:

• Ranked 1^st globally in ‘paying taxes’ and ‘getting electricity’.
• Ranked 2^nd globally in ‘dealing with construction permits’
• Ranked 10^th globally in ‘registering property’ and ‘protecting minority investors’.

The UAE extends the flexibility to do business anywhere in the country. Choices and locations include Free Zones, industrial centers, commercial buildings, etc.

• More than 40 Free Zones, allowing 100% foreign ownership of business.
• State-of-the-art industrial and commercial areas.
• Hosts high-profile conferences, international exhibitions, trade and investment events.

The UAE’s talent and labour force is one of the most skillful in the world. Its multi-cultural population enriches workforce productivity and creativity.

• The country’s main language is Arabic, with English and other major languages also being widely used
• The UAE launched a new visa system, attracting qualified workforce in health, scientific, research, technological and cultural sectors.
• • The UAE is seeking to be the first incubator of highly skilled professionals and talented human capital in dynamic, economic sectors

Competitive Investment Features

• Up to 100% foreign ownership in Free Zones.
• 100% profit repatriation.
• Competitive financing costs, high levels of liquidity and strong banking system.
• No foreign exchange controls.
• Strong appreciation and fully convertible currency
• Low inflation
• Low customs tariffs between 0 and 5% for almost all goods.

The UAE signed major business and international treaties and has its own laws on preventing money laundering and movement of illicit goods, and regulating import and export.

Protection of Intellectual Property Rights

The UAE is a member of the World Intellectual Property Organization (WIPO). The UAE protects intellectual property rights, trademarks and has anti-piracy laws in place. In addition, the UAE has relevant laws of protection, such as:

• Federal Law No. 7 of 2002 concerning copyrights and neighboring rights as amended by Law No. 32 of 2006.
• Federal Law No. 37 of 1992 on trademarks as amended by Law No. 8 of 2002.
• Federal Law No. 17 of 2002 on the industrial regulation and protection of patents, industrial drawings and designs, as amended by Law No. 31 of 2006.

Double Taxation Agreements

The UAE continually works to grow its network of agreements on exchanging tax information and avoiding double taxation. By by February 2018, the UAE signed 114 agreements in place with nations across five continents, including most UAE trading partners.

The agreements on the Avoidance of Double Taxation are aimed to:

• Promote the country’s development goals, and diversify its sources of national income.
• Eliminate double taxation as well as additional, indirect taxes, and tax evasion.
• Eliminate any obstacles related to cross-border trade and investment flows.
• Provide protection for taxpayers from double taxation, whether direct or indirect.
• Promote the exchange of goods and services and the free movement of capital

Source : UAE Ministry of Finance

Investor Protection

The UAE has signed 76 agreements, by the end of 2017, for the protection and promotion of investments with most of its trading partners.

Investment Protection Agreements aim to:

• Protect UAE investments from non-commercial risks and those related to the transfer of profits and revenues in convertible currency.
• Organize conflict resolution, if required.
• Establish investments within the state’s signatories to the agreement, and grant licenses to Emirati investors
• Stipulate the rules and regulations to grant UAE investors with fair and immediate compensations in the case of expropriation of investments, as per the law, without discrimination. All compensations should be based on the market value of the investment.

Source : UAE Ministry of Finance

New Investment Law

A new Investment Law is under process and aims to enhance and develop the investment environment in the UAE, specifically by facilitating the growth of foreign direct investments (FDIs) in a number of strategic economic sectors in the UAE, thereby building an economy that is based on knowledge, innovation and creativity. When it comes into effect, the main offering of this new law for foreign investors features the increase of the percentage of foreign ownership of businesses to up to 100%, in the sectors or activities prescribed by the law.