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Expo 2020, A game-changing opportunity for business investors and entrepreneurs

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Expo 2020, A game-changing opportunity for business investors and entrepreneurs Ever since its inception, world expos have always remained to be an ideal platform to exhibit or explore ideas and innovations. With Expo 2020 just around the corner, Dubai is all geared up for hosting the country’s most spectacular event. Some massive infrastructure developments have already started appearing and investment opportunities are emerging across the city. This much-anticipated event will start on 20 October 2020 and continue till 10 April 2021. It is the first of its kind to be held in the MENASA (Middle East, North Africa, and South Asia) and GCC region. What makes Expo 2020 so special and how it can benefit your business? Contributes to the economy’s growth This prestigious event will have a positive impact on the country’s economy by attracting millions of visitors and generating business opportunities in various sectors. According to a report by Ernst and Young, Expo 2020 is expected to contribute around Dh122 billion to the UAE’s economy. It is also anticipated to contribute 1.5 per cent growth of the country’s GDP. Attracts foreign direct investment Expo 2020 Dubai will help boost the position of Dubai and the UAE as a global investment destination. Business delegates, decision makers, and tourists from around 192 countries will visit Dubai during the six months. This will expose them to the commercial opportunities in Dubai and the rest of the UAE, which in turn attract foreign direct investment opportunities. Acts as a catalyst for business growth In terms of the number of visitors and exposure, Expo 2020 is an excellent opportunity for entrepreneurs and investors. Another significant aspect is that this event’s timing will coincide with the UAE economy’s growth cycle, therefore, it can act as a catalyst for business growth. From the past 18 months, the economy was quite sluggish, but Expo 2020 will become a path to recovery. Cutting-edge infrastructure and technological developments During the event, the city will witness cutting-edge infrastructure developments whether it is road or rail network extensions, and airport capacity expansion for accommodating maximum visitors. The Expo site, covering 4.38 square km, will be called as ‘District 2020’ after the event. It will feature office and residential space, cultural attractions, parks and leisure amenities. Also, Dubai will become the early adopters of 5G technology in the Middle East, Africa and South Asia (MEASA) region to offer a seamless digital experience for visitors. Any improvements to the infrastructure of a city is certainly a boost for all businesses. For instance infrastructure projects comprising office space can bring down the cost of the rental. Therefore, if you are planning to start a new business, or move your existing operations in Dubai, the next few months are the best time. Expo 2020 will boost your brand on the global stage as well as help you make lasting business connections. Corpin Consultants offer expert consulting and advisory services for setting up your business in the UAE’s offshore, mainland, or free zones. To know more about our services, call +971 55 843 2911 or drop an email to info@corpinconsultants.com.

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UAE Removed from European Union’s Tax Haven Blacklist

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UAE Removed from European Union’s Tax Haven Blacklist The European Union has recently removed the United Arab Emirates from its tax haven blacklist, a list that covers jurisdictions that have failed to cooperate on tax matters. The finance ministers of the European Union made this declaration when the country further enhanced its transparency in tax procedures. Along with the UAE, seven other countries such as Barbados, Grenada, South Korea, Macao, Mongolia, Tunisia and Panama were also removed from this ban. Jurisdictions that remain blacklisted are Belize, Fiji, Oman, Samoa, Trinidad and Tobago, Vanuatu and the three US territories of American Samoa, Guam and the US Virgin Islands. The European Union officials mentioned that the underlying reason behind this ban removal was the country’s recent adoption of rules for offshore structures to ensure better transparency on tax practices. Currently, the UAE government charges no corporate taxes, and this attracts several foreign investors to set up their firms in the UAE so that they do not have to pay taxes in their native countries. Normally the EU does not automatically add countries that charge no tax to the blacklist, however, it requested the UAE government to introduce rules which would permit only companies with economic activity in the region, to be incorporated for minimizing the tax evasion risks. The European Union’s decision of removing the UAE from the tax haven blacklist is a great example of the recognition given to the country’s effective tax system and promising governing model. Sectors such as real estate, healthcare, education, logistics and retail will significantly benefit from this initiative. If you wish to know more about company setup in the UAE, please do not hesitate to contact us on  +971 55 843 2911 or drop an email to info@corpinconsultants.com for a free consultation.

SAIF Zone Business setup, Free zone business setup, Corpin Consultant
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Corpin Consultants Now An Official Business Setup Partner For SAIF Zone

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Corpin Consultants now an official business setup partner for Sharjah Airport International Free Zone (SAIF) We are immensely delighted to announce that Corpin Consultants has signed a Memorandum of Understanding with Sharjah Airport Free Zone (SAIFZone), one of the most reputed free zone in UAE. This promising collaboration will ensure fast and efficient business setup services for entrepreneurs. Key Features and Benefits of Starting A Business In SAIF Zone: Strategic Location: SAIF Zone’s strategic location near the Sharjah International Airport and its proximity to Dubai and other major cities in the UAE make it an attractive destination for businesses looking to access global markets easily. Tax Advantages: One of the main draws of SAIF Zone is the tax benefits it offers to businesses. Companies operating within the zone are exempt from personal income tax, corporate tax, and import/export duties. 100% Foreign Ownership: Another significant advantage is that foreign investors can fully own their businesses within SAIF Zone, without the need for a local sponsor or partner. Simplified Business Setup: SAIF Zone provides a streamlined and efficient process for business setup and registration, making it relatively easy for companies to establish a presence in the zone. World-Class Infrastructure: The zone boasts modern infrastructure and state-of-the-art facilities, including warehouses, office spaces, and showrooms. This environment is conducive to fostering business growth and expansion. Diverse Business Sectors: SAIF Zone accommodates a wide range of industries, including manufacturing, trading, logistics, information technology, media, and many others. This diversity contributes to a vibrant business community. Business Support Services: The zone offers various support services to assist businesses, such as administrative support, licensing assistance, and access to banking facilities. Access to Skilled Workforce: The presence of a skilled and diverse labor force in Sharjah and nearby areas makes it easier for businesses in SAIF Zone to recruit talent for their operations. Networking and Collaboration Opportunities: Being a part of the SAIF Zone community allows companies to network and collaborate with other businesses, potentially leading to synergistic partnerships and business growth.

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