Financing a Business in UAE
UAE related forum posts
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Total Posts: 1 Last post by serviceoffer
Right start is essential for a Perfect Business”UAE provides a reputable and international Platform for all kind of businesses. Setting up in the UAE is an excellent choice because of the regulatory regime and the geographical time belt.Dubai has created a business environment that is well regulated without being unduly restrictive and offers operating conditions that are amongst the most
Total Posts: 5 Last post by Peergrowth
Financing a Business in the UAE
With the United Arab Emirates keen to attract UK businesses to invest, the government set up the Emirates Industrial Bank, with the objective of developing the private sector for small and medium sized businesses.
The organization offers the following incentives to investors:
- Arrangement of bill discounting with the commercial banks, reducing investment costs
- The provision of lease and hire purchase options from local finance companies
- The arrangement of finance for imports and exports through commercial banks for new business.
The commercial banks often still require a financial margin, which will vary according to the relationship with customers.
In addition to government financial assistance, UAE also offers attractive trading conditions and there are numerous free zones where the laws are relaxed or removed to encourage foreign investment. The trading benefits include:
- No foreign exchange controls
- No trade barriers or quotas
- Competitive import duties (4% with many exemptions)
- Competitive energy costs
- Competitive real estate costs
- Competitive financing costs and high levels of liquidity
- No taxes (except for oil companies and some foreign banks)
Although opening a bank account requires residency and may be more complicated than in Europe, the United Arab Emirates has a large banking presence and with the correct planning and preparation loans are available to new businesses. For more information, a good starting point is www.centralbank.ae