The UAE is the world’s second most stable economy. Multiple entrepreneurial opportunities, easy access to capital, a highly skilled labour force, and a thriving trade environment have helped the country gain this distinction. The stable political system and a dynamic market are working at the national and emirate levels to transform the UAE into a knowledge economy, which opens immense possibilities for business growth and diversification. A strategic location, healthy international relations, consistent government spending on infrastructure and digitisation, and multi-speciality free zones make it an attractive business destination.
Top Reasons to Expand to the UAE
For Businesses
The UAE is a hub of economic activity in the MENA region and a gateway to the Asian, European, and African markets. It offers a pro-business environment with numerous free zones to boost trade, provisions for 100% foreign ownership, full repatriation of profits, and extended tax exemption. It takes an average of two procedures and less than four days to set up a company with emerging growth opportunities in this country. Moreover, there is no minimum capital requirement to establish a general partnership company, limited liability company, or sole proprietorship in the UAE.
For Recruitment Agencies
The UAE attracts thousands of people for its high standard of living and absence of personal taxes, which enriches the skilled labour market with a multicultural talent pool. The country has a relatively young population with a vast choice of employable individuals. While hiring in the UAE, you need to remember that being an Islamic nation, it has a workweek of Sunday to Thursday, while Friday and Saturday are considered weekends.
For Contractors
Professionals skilled in the latest technologies, sciences, healthcare, e-commerce, renewable energy, project management, and logistics are in high demand in the UAE. The highly regulated labour market has multiple forms of legal work arrangements. These include full-time, part-time, contractual, and temporary, flexible, and job-sharing. There are 30 paid vacation days yearly, which workers can carry forward to the following year or have reimbursed. All Abu Dhabi and Dubai workers get health insurance, fully paid for by the employer. Other Emirates have their regulations regarding paid leave and insurance.
The UAE has a fast-paced work culture and promotes trust, empathy, inclusivity, equality, and respect. Cultural sensitivity is critical to working in the country as it is home to people from 200 nationalities. The country has a standard 40- to 45-hour work week, which shrinks to 36 to 42 hours during Ramadan.
How Can Access Financial Help?
Navigating the dynamic corporate landscape and evolving labour laws can pose compliance challenges for UAE businesses, recruiters, and contractors. With Emiratisation initiatives, private businesses that operate in the region are required to start with at least 2% of UAE employees, which must grow by 2% each year till it reaches 10%. A foreign agency or business can only recruit employees by getting a recruitment licence from the Ministry of Human Resources & Emiratisation (MoHRE).
At Access Financial, we have professionals who monitor labour and corporate laws and specialists who take care of immigration, visa, and business tax requirements. We provide comprehensive solutions to corporate clients, recruitment agencies, and professional contractors.
Our service offerings for businesses and recruitment agencies include:
- Consultation on forming the most suitable form of company.
- Assistance in procuring the necessary licences.
- Facilitating the establishment of a limited company.
- Mitigating tax liability by fully subscribing to labour laws.
- Employer of Record (EOR) and PEO services.
- Customised software for payroll management.
- Minimising the administration burden.
- Boosting take-home income.
Plus, we ensure superior security and confidentiality of your payroll information.
Our services for contractors include:
- Contract administration.
- Work permit and immigration assistance.
- Fast onboarding.
- Ensuring compliance with employment laws.
- Health insurance coverage (if applicable).
For any assistance or queries, call us at +971 503075121 or email us at [email protected].
For a more in-depth understanding of the region, download our UAE Country Guide.