The United Arab Emirates has once again cemented its position as one of the most attractive locations in the world for starting a new business according to a recent report.
In the CEOWORLD magazine business conditions index for 2024, the UAE ranked 13th globally and was the highest ranked Middle Eastern nation. The index analyzed over 80 countries across a range of factors that impact the ease of establishing and operating a company.
Some of the key metrics that pushed the UAE into the top tier for business launch conditions include low corporation tax rates, a highly developed physical and digital infrastructure, low startup costs, access to funding, and a pro-business regulatory environment with streamlined processes.
The UAE was praised for reforms in recent years aimed at simplifying business registration and licensing. Setting up a new company can now be done completely online in just a few hours through the Federal Authority for Identity and Citizenship portal.
Additional incentives like 100% foreign ownership of onshore companies, no restrictions on capital flows or repatriation of profits, world-class free zones and business hubs also enhance the Emirates' competitiveness on the global stage.
With the highly successful Expo 2020 further boosting the UAE's profile and connections globally, industry analysts expect business formation to remain strong over the coming years as more entrepreneurs and investors are drawn to Dubai, Abu Dhabi and other emirates.
The ranking is testament to the UAE's continued focus on developing an innovative, business-friendly environment aligned with global standards. It positions the nation favorably as a regional hub for enterprises looking to capitalize on opportunities across high-growth emerging markets.
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