Expats in Abu Dhabi will find the capital amongst the best cities in the world to live, work and do business in, reports Khaleej Times. Many have also benefitted most from the move abroad to improve their income and boost their career. Many of them have a higher salary now than what they would have earned in a similar position at home, reveals The InterNations Survey (Expat Insider).
The UAE is also ranked within the top 20 countries in the category Quality of Life Index as a stable place to live, work and do business. On the flip side, in the 2016 survey ranking, this Arab Gulf state lost ground in all the indices, most noticeably in the in the Work-Life Balance subcategory (the UAE fell from 46th to 54th place) and took the biggest hit in the Job Security subcategory of the Working Abroad Index (21st to 36th place). Let’s not forget the Cost of Living Index (37th to 51st place) with what they were dubbed as “extortionately high rents in Abu Dhabi!”
However due to the steady economy set to grow by 1.5 per cent this year and new work growth, business optimism still remains high and is attracting foreign workers to fulfil gaps in the labor market. And because the UAE is largely tax-free, one can see why expats are flocking here. Though the UAE Recruitment Activity has slowed down in some sectors, to reduce headcount, hiring of expats continues as seen in a number of vacancies opening up in different department structures and roles for local staff.
Career-related expats are settling in and finding work in the private sector, mainly manufacturing, wholesale and retail trade; others examine opportunities and challenges for entrepreneurship. As a result, expats are now boosting the entrepreneurial ecosystem of the emirate especially through small, medium enterprises (SMEs).
UAE’s capital is a place for expats to start businesses. An Expat Entrepreneur in Abu Dhabi, however, should be very thorough in understanding the implications of residency/non residency, business partnerships, licenses and needed permits. Free zones are also an option to evaluate. A knowledgeable agent can help to start the procedure and answer any questions about local partner or sponsorship in the emirate.
In particular, contact Business Setup Experts for a consultation that will help answer every last question about setting up a representative office in a UAE’s free zones which are particularly popular with foreign entrepreneurs and with good reason.
Free Zones in Abu Dhabi are special economic zones offering tax free, 100% foreign ownership and free customs duty benefits to expatriate investors. And, depending on the kind of company they are starting, setting up a business there is easier than anywhere else in the region.
A good advisor is also needed to choose and open your much-needed corporate bank account and to look through a variety of products and loans offered.