In the recently released ranking by InterNation (the largest global expat network), UAE has emerged as a stalwart performer and ranked as the 6th most favorable destination for expats. This ranking was premised on numerous indicators, such as business-friendly regulations, quality of life, tax structure, rate of crimes, and other relevant factors. Undoubtedly, this 6th position signifies the dedicated efforts of the UAE government to offer all the possible benefits and make the UAE a heavenly destination for expats.
Why expats prefer UAE?
To answer this question, our best lawyers of Dubai have pointed out some key factors which attract expats.
- Immense opportunities: The earning opportunities are immense in UAE and Dubai is becoming a global hub for business. The increasing emphasis on technology and innovation will open a sea of opportunities for the world.
- Tax-friendly destination: UAE is a tax-heaven destination and salaries and earnings are tax-free. The free zones are the key attractions for global investors. Even working for a few years in this gulf country will enable you to accumulate substantial wealth with a comfortable retirement.
- Low rate of crime: In the UAE, the safety and security of an individual are paramount. The rate of criminal offenses in the country is exceptionally low with the majority of the cases related to civil matters.
- Effective dispute resolution mechanism: In UAE, the laws and regulations provide for an expeditious and effective resolution of all disputes. With the emergence of arbitration, judicial intervention has become minimal and disputes are resolved expeditiously with a low cost.
- High Quality of life: As per a survey, more than 80% of the expats have admitted that the quality of life in the UAE is much better in comparison to their home country. Here, people have access to all the basic civic amenities in a multi-cultural environment, which offers a real glimpse of globalization. The standard of education is also very high.
- Business-friendly laws: The legal provisions are promotive, not restrictive in nature. The foreign exchange laws are relaxed and on daily basis, new strategic initiatives are introduced to support the growing businesses. For instance – the Abu Dhabi government yesterday announced that 1200 economic activities shall be exempted from the mandatory requirement of having a lease contract.
- International stature: In the global community, UAE is considered on a very high pedestal and looked upon with great respect and honor. Strong international relations further strengthen cross-border trade.
Conclusion
In the last few years, UAE has gained significant progress in a number of global rankings in the arena of growing tourism, business development, foreign investment, etc. This 6th position is a symbol of opportunities for the expats to come and explore this beautiful destination. If you are interested in setting up a business in UAE, you can contact one of our best company formation lawyers in UAE.
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