UAE Emirates comparisons in 2023

DubaiRAKAbu DhabiSharjahAjman
Our recommendation in order of preference12345
Summary at a glance
Total year 1 engagement set up costs? US$US$28,187US$21,800US$22,633US$30,995US$29,375
Total year 2 costs (incl. audit and tax)? US$9,85011,20012,18013,9608,960
Our Client must travel during the engagement?NoNoNoNoNo
Total engagement period? (months)32233
Corporation tax rate on net profits? (click link)0%0%0%0%0%
Average monthly skilled labor salary?US$3,500US$2,450US$3,500US$2,200US$2,500
Average monthly office rental per sq m?US$61US$57US$45US$57US$33
Average monthly warehouse rental per sq m?US$30US$15US$20US$17US$20
Must be a 51% shareholder for trading businessYesYesYesYesYes
Must be a 51% shareholder for services businessNoNoNoNoNo
English language proficiency % of population?78%75%50%75%75%
Incorporation requirements
How long to secure company registration number?2 months2 months2 months1 month2 months
Minimum number of shareholders?12222
Individual and corporate shareholders allowed?YesYesYesYesYes
Minimum number of directors?11111
Resident director required?NoNoNoNoYes
Minimum paid up share capital?US$1US$1US$1US$1US$1
Fast turnkey solution available? (click link)YesNoNoNoNo
Fastest time Healy Consultants set up company?5 weeks2 weeks6 weeks3 weeks8 weeks
Special permit or license required?YesYesYesYesYes
Corporate director(s) allowed?YesYesYesYesYes
Public register of shareholders & directors?YesYesYesYesYes
Tax and accounting considerations
Corporate tax payable?0%0%0%0%0%
Withholding tax on dividends paid overseasNoNoNoNoNo
Annual financial statements required?YesYesYesYesYes
Statutory independent annual audit required?YesYesYesYesYes
Export taxes on goods and local GST or VAT?NoNoNoNoNo
Tax incentives for manufacturing start-ups?YesYesYesYesYes
Access to how many double tax treaties?6666666666
Number of tax exempt free zones available?313421
GCC member? (click link)YesYesYesYesYes
Corporate bank account considerations
Healy Consultants’ preferred bank?HSBCEmirates NDBCitibankHSBCAjman Bank
How long to open corporate bank account?5 weeks4 weeks4 weeks4 weeks4 weeks
Do I travel to open the bank account?NoNoNoNoNo
Can open a US$ or £ or € bank account?YesYesYesYesYes
Good internet banking available?YesYesYesYesYes
Funds transfer currency controlsNoNoNoNoNo
Bank rating by World Economic Forum?
Ease of getting credit by WEF?8989898989
Employment considerations
Average skilled labour monthly salary?US$3,500US$2,450US$3,500US$2,200US$2,500
Average unskilled labour monthly salary?US$800US$750US$800US$700US$750
Average pension/insurance benefits % of salary?0%0%0%0%0%
Minimum national salary?US$245US$245US$275US$275US$465
Mandatory labor unions?NoNoNoNoNo
Minimum notice to dismiss employees?1 month1 month1 month1 month1 month
Minimum redundancy indemnity?1 month1 month1 month1 month1 month
Quota ratio of foreign workers to local staff?NoNoNoNoNo
How long to get work permit approved?4 weeks4 week4 weeks4 weeks4 weeks
Manufacturing considerations
Cost per 100 units of electricity? US$
Rank for getting electricity (click link)44444
Warehousing space rental (per sq. m.)?US$30US$15US$20US$17US$20
Ranking for transport infrastructure (click link) (1-7 best)
Ranking for customs procedures out of 10? (click link)66666
Average import duty % on raw materials?0%0%0%0%0%
Government incentives for startups?YesYesYesYesYes
Computer literacy % of population?90%85%86%80%82%
Internet connectivity rating?StrongStrongStrongStrongStrong
Global business efficiency index? (click link)2323232323
Preferred manufacturing city?DubaiRAKAbu DhabiSharjahAjman
Proximity of sea port in kilometers?44.9814.7132.3
Proximity of airport in kilometers?44.51820.81826
Proximity of rail in kilometers?00000
Literacy % of population90%90%90%90%90%
Local purchasing power (GDP per capita)US$24,866US$14,882US$61,009US$15,578US$14,744
Average annual inflation rate in 2014?3%3%3%3%3%
Average unemployment rate in 2014?2.60%2.60%2.60%2.60%2.60%
Ease of doing business index (click link)2222222222
Country rating (click link)AAAAAAAAAA

Contact us

For additional information on our company registration in the UAE Emirates services, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi