Business

The UAE is actively promoted as a link between east and west and foreign direct investment is heavily encouraged. Foreign companies usually conduct business either as a limited liability company with a UAE national shareholding or as a branch of a foreign company. There are numerous free zones that cater to particular business segments and they allow 100% foreign ownership and also guarantee a tax-free status for periods of up to 50 years.

At present, only banks and oil companies are subject to taxation. Otherwise there are no income, capital gains, inheritance, corporate or wealth taxes. Similarly, other than some municipality taxes on hotel and restaurant services and on property rental contracts, there are no sales related taxes.