The United Arab Emirates (UAE) is taking steps to boost its economic relationship with the European Union (EU), which could open up new doors for European businesses thinking about moving to Dubai.

Dubai and Abu Dhabi are experiencing a significant surge in industrial and logistics asset demand, with a 185% year-on-year increase in the first half of 2024, according to a recent Knight Frank report.

The Dubai International Financial Centre (DIFC) has introduced new regulations, effective 15.07.2024, that expand eligibility and simplify the process for international businesses to establish private companies in this global financial hub.

German businesses are increasingly looking to expand into Saudi Arabia, attracted by the country’s economic growth, strategic location, and government support for foreign investment, as exemplified by Saudia airline’s recent USD 19 billion aircraft order from Airbus.

The UAE Golden Visa program offers European businesses and investors long-term residency through property investments of at least AED 2 million, providing benefits such as visa stability and access to Dubai’s strategic location as a global hub.

Dubai’s plan to build the world’s largest logistics hub for food trade is set to create new business opportunities in areas such as import/export, warehousing, and food processing, with options to set up in free zones or on the mainland.

The Emirates ID is a mandatory identification card for UAE residents and essential for German businesses in Dubai to access various services and conduct operations legally.

Is your bookkeeping helping you stay compliant with UAE tax laws, or could it be putting your business at risk of penalties?