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Investment in Dubai for Saudis

٠٤ مارس Investment in Dubai for Saudis

The UAE granted, at the UAE forum held with Saudi Arabia, many different exemptions and facilities in order to enhance investment and industry in the country. Among the most important facilities that were granted is working to cancel the conditions related to the offer contract and exemption from fees related to subscriptions for Saudi investors.

This is despite the fact that it provided them with more than a thousand square meters in order to implement Saudi investment works and granted them a grace period of three years for these lands that may be affiliated with the Supreme Authority for the regions in which Saudi investors are located, and this is what spread during the previous period in order to advance the process of industrial and commercial investment in the Arab world.

Various information about investing in Dubai

The Chairman of the Department of Economic Development announced that he had taken a set of measures and procedures aimed at enabling Saudi investors to work on establishing various projects, and worked to provide the ports in Abu Dhabi with various investment incentives for investors and imposed special discounts of up to 100% of the value related to the rent of the lands in which investment is made, as well as the rent of warehouses, offices and other work stations. This is what made the city of Abu Dhabi a window for the Saudi investor in order to facilitate business and facilitate the process of conducting various businesses related to investment.

Investing in Jebel Ali

Al Mansouri stressed that there are many regional and international changes that lead to the fluctuation and decline of the global price of oil and the economic and political challenges that require the two countries to work on coordinating between them more clearly, and this prompted Saudi investors to work on uncovering the various development opportunities that fill the Emirati businesses in order to achieve the greatest possible benefit from them.

The Saudi Minister of Commerce and Investment stressed that there is great importance in this forum, which may be represented in working to strengthen the existing relations between Saudi Arabia and the Emirates, especially in cooperation for the sake of building in all vital sectors in the two countries, especially in the investment, commercial, economic and other aspects that form the basis for building countries.

Investment costs in Dubai

1. The infrastructure in Dubai has been classified as the best infrastructure in the world, as it helps investors and other business owners to work on achieving all the goals related to their excellence in their own businesses. Dubai Airport has been classified as one of the best international airports in the world, and it is distinguished by its distinctive design and may provide more than 130 airlines to provide cargo and transportation services for passengers from Dubai to any other country and from any foreign country to Dubai. It may enjoy a distinctive group of facilities represented by electricity, water and sewage designed in a professional manner that suits the level of visitors to Dubai.

2. The private sector in trade has also been characterized by significant growth and has achieved great fame in the past few years. The Emirates has the best international brands in all fields, which has made Dubai the distinguished center for trade and investment and has become a distinctive economic front whose source is oil, which has made the entire world respect the Emirates and consider it one of the European countries that occupies a high position in the middle of the world. The Emirates is also distinguished by many different industries of gold, diamonds, precious stones, expensive metals, pearls, fashion and jewelry, all of which have distinctive and elegant tastes.

3. The tax system in Dubai was based on a set of factors that are completely different from the individual’s salary in Dubai. Taxes on capital gains were prohibited and there are no withholding taxes, but companies operating in oil are required to pay taxes on profits. There may be a set of financial and attractive incentives for them, such as a 15-year tax exemption, which can be increased. It also provided investors with the right to 100% foreign ownership, which reduces the possibility of resorting to a local partner.

Establishing a company in the free zone

  • The investor obtains a set of distinctive privileges, which include his ability to establish any type of company, whether it is a commercial, industrial, service or consulting company, according to his desire and experience in establishing the company.
  • He also obtains a residence visa in the country and has the full right to add a maximum of 5 companies with him.
  • He can also obtain any visa for his employees and those coming from abroad.
  • Companies investing in Dubai are exempt from all taxes on the business they carry out in the country.

Conditions for establishing a company in the Gulf

  • The investor has the freedom to purchase properties in Dubai or own various properties.
  • He can also transfer his money outside the country at any time, as the law allows him to do so.
  • The investor obtains a residence permit for himself and his family under the dependency system, and this is in addition to providing many facilities in their travel procedures to foreign states and Europe, and all these facilities are for the purpose of promoting trade and industry.

Company formation in Sharjah

This forum, which was held in the previous period, resulted in the distinctive and strong relations between the two countries, as it strengthened the vision of the Coordination Council between the UAE and the Kingdom of Saudi Arabia. This agreement was signed in order to establish the council to confirm everything that was agreed upon in Saudi Arabia in the presence of King bin Abdulaziz and the Crown Prince of Abu Dhabi.

In this forum, all the facilities that are granted to Saudi investors in the Emirates were announced. These facilities are completely unprecedented in the economic circles of the two countries. A well-defined plan was developed and agreed upon by the two parties. They agreed to hold it every two years. This committee is formed by the Minister of Economy and Trade in the Emirates so that they can put their vision in the forum and put their own plan and ideas every period with regard to the programs related to the investment process.

Establishing a company in Dubai for Saudis

The UAE Minister of Economy discovered that the sessions related to air transport, limited to a known scope, which is the framework of the Azm retreat, which was held in Dubai, resulted in the development of a set of general frameworks that work to achieve cooperation in order to establish a joint aviation market between the two countries, and this is despite the fact that it pointed out that Saudi Arabia is the fourth trading partner, but it is the largest partner in the Arab world.

 He stressed that the oil trade witnessed a 30 percent jump and rose in recent years to reach 55 billion dirhams in 2011. The UAE has invested a large amount in Saudi Arabia, reaching 30 billion dirhams, equivalent to 9 billion dollars. It owns more than 32 investment companies in the UAE that are implementing the largest projects in Saudi Arabia. In return, the balance of Saudi Arabia’s investment in the UAE reached 16.5 billion in 2015.