UAE Global Ranking in Business

United Arab Emirates rises to 26th position in the World Bank’s Doing Business 2013 report. This is a praiseworthy jump considering the country’s ranking at 33rd position last year. Each Emirate of UAE formulates their own strategies, but complementing each other, in attracting investments from around the world. The complementary nature of government initiatives places the country on a fast pace of development. The Abu Dhabi Economic Vision 2030 is one of such government initiatives aimed at systematic economic growth of the Emirate of Abu Dhabi. The Abu Dhabi Economic Vision 2030 plans include diversification through effective expansion of strategic sectors like energy – oil and gas, petrochemicals, metals, aviation, biotechnology, tourism, healthcare, logistics, education, media, financial services and telecommunication services. Through its Masdar initiative, Abu Dhabi hopes to become a world centre for renewable technologies.

The setting up of business in United Arab Emirates requires planning and decision making through different phases. This involves deciding the option of registration legal structure of businesses, human work force etc. The following are the three options of forming a company in UAE.

• Registering Business with the Department of Economic Development – This option is chosen by investors who expect substantial volume of business inside UAE.
• Registering Business with Free Zones in UAE – This option is chosen by investors who plan their major business transactions outside UAE.
• Registering Business with Offshore Authority (Dubai and Ras Al Khaimah) – This option is the cheapest and opted by business entities that have no business at all inside UAE.

The costs, procedures and time taken to complete the registration vary with each option.

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