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This publication is available at https: The UAE has made huge progress diversifying its economy away from oil. In In The UAE can be a demanding and sometimes frustrating market in which to do business. Competition for business is fierce from the high growth Asian economies as well as the more traditional competitors in Europe and north America.
Each emirate retains control of regulatory powers. This covers commercial activities such as issuing of trade licences and the incorporation of corporate entities, where the activity is not already regulated under federal legislation. The interaction of federal laws, individual emirate laws and free zone laws can be complex and confusing. The UAE economy continues to grow and the overall economic outlook is positive.
Hydrocarbons provide how to trade us options in singapore dubai largest single source of income for Abu Dhabi. This will result in about USD 8 billion worth of opportunities across many sectors particularly in hospitality and construction. The Gulf region has enjoyed continued growth. This has been driven by rising public sector spending, how to trade us options in singapore dubai on physical and social infrastructure, as well as buoyant private sector activity.
A GCC free trade agreement with Lebanon has been ratified, but not implemented. Department for International Trade DIT provides free international export sales leads from its worldwide network. Search for export opportunities. British curriculum schools are in demand.
UK universities in Dubai have the highest proportion of postgraduate students. Progress has how to trade us options in singapore dubai made with mutual recognition of FE and professional qualifications. Contact Trade and Investment Adviser sunita. Production is currently around 3 million barrels per day bpdwith targets of 3.
The UAE has both onshore and offshore oil reserves, which are operated under concessions. It offers UK companies the chance to develop new business opportunities as the UAE government and international oil companies will be present. The first of 4 nuclear reactors is due to commence operations in Three others are scheduled to come online by This is the first nuclear power in the UAE. Experience of working with APR models or similar reactors would be an advantage.
The UAE is looking to develop its own manufacturing sector so companies who are willing to invest and enter into joint ventures will be welcomed. The renewables market in the UAE is growing rapidly with:. Dubai South is a new residential and commercial development around the Al Maktoum airport expansion which will:.
Waste to power technology is under consideration to deal with high waste per person rates. Sharjah is building a waste to energy plant. It will be the largest gasification waste to energy plant in the world. The project received UKEF funding. Contact Trade and Investment adviser ifeayin. Dubai has the largest how to trade us options in singapore dubai most sophisticated financial services industry in the region. The Sukuk and Takaful markets are growing sectors.
There are effectively 2 financial services markets in the UAE — onshore and offshore. UK companies are active in both markets.
It focuses on banking, capital markets, asset management and fund registration; insurance and reinsurance; Islamic finance and professional service providers. The market outside the DFSA is regulated by federal authorities. It concentrates on private banking, wealth management and asset management. Contact Financial Services co-ordinator, dominic. Contact Trade and Investment adviser karen. Government-related entities, and the large merchant families that dominate the private sector are maintaining spending on infrastructure especially in tourism and social infrastructure.
Contact Trade and Investment adviser ivan. The UAE has a large defence and security budget. Contract negotiations can be lengthy and complicated, with an offset threshold of How to trade us options in singapore dubai 10 million.
Opportunities for small and medium enterprises SMEs can be found within these bigger supply chains. These all offer opportunities for UK defence companies. DIT UAE provides ongoing support to SMEs working how to trade us options in singapore dubai the security sector in the form of liaison with local law enforcement agencies and access to large contract opportunities. Cyber Security is an area of concern to both local industry and government departments, and so offers opportunities for UK businesses.
You must check your goods you are meeting legal requirements for export. Contact First Secretary of Defence and Security pippa. The Middle East is a thriving market for aviation and airport developments. The UAE offers opportunities for UK companies with innovative and cutting edge products and services. Contact Trade and Investment adviser rashid. There are stringent targets for improving air quality, treatment of all waste generated and conservation of water.
Almost all emirates are expanding their drainage network by increasing capacity at existing plants and by installing new plants to meet requirements of expanding neighbourhoods. Dubai is moving forward with its first phase of a waste to energy WtE plant that will be capable of incinerating 2, tonnes of waste per day leading to power generation of about 50MW per day. Contact Trade and Investment adviser adil. The UAE is investing heavily in leisure and entertainment to cement its position as a leading tourism destination.
A series of projects, ranging from cultural and artistic, to theme parks and retail are being delivered which continue to transform the UAE. This ambition is underpinned by Dubai Tourism vision and Abu Dhabi vision and backed by support infrastructure such as integrated transport links and hotels.
The strategy aims to lengthen the stay of visitors and entice them to shop, dine and experience UAE. While government linked developers are the largest players, there are also a significant number of private developers engaged in delivering similar projects.
Dubai and Abu Dhabi development as a tourism and business destination is also creating a buoyant market advertising and media. Contact Trade and Investment Adviser, ranjana. Under federal legislation, the main options available for conducting business in the UAE are:.
The scope of activities permitted varies from emirate to emirate, although generally a broad range of commercial activities can be undertaken. In certain businesses, how to trade us options in singapore dubai need to get the permission of a particular authority; the Central Bank regulates finance; the Municipality in Dubai regulates engineering and construction.
If you just intend to export goods or services to the UAEyou may want to appoint an agent, distributor or franchisee, which must be either a UAE national or a company entirely owned by UAE nationals. The free zones offer a wide variety of benefits to businesses and a degree of flexibility including:. If you intend to trade or invest in the UAEyou need the correct authorisations and licences.
Each emirate may also have additional requirements. Contact the DIT team in the UAE for a list of English speaking lawyers who can help you with commercial disputes and tax and legal advisers.
The UAE prohibits and restricts the import of some products. Dubai Trade provides examples of UAE prohibited items. Exporters who want to how to trade us options in singapore dubai within the other GCC markets should take note of the individual member states lists as they are not harmonised, but independently administered.
A Certificate of Origin is needed for all exports to clear customs. Certificates of Origin must be provided by the original exporter and recognised by an authorised representative in UK. While a framework of legislation for the main intellectual property IP rights in the UAE does exist, there are how to trade us options in singapore dubai specialist IP courts and a lack of specialist local advocates. This can make civil litigation a challenge, so enforcement of IP rights is often achieved in other ways.
This includes in the case of trade mark infringement by filing complaints about counterfeiters with the police or customs authorities. There is no direct personal taxation in the UAE. Most emirates levy various municipal taxes. Indirect taxation through official fees is commonplace. Higher rates of duty apply to alcohol and tobacco. Some categories of goods are exempt, such as certain agricultural products, printed material and pharmaceuticals.
Exemptions may also be granted for goods imported for industrial or manufacturing purposes. Where goods are imported into a UAE free zone, customs duties are not payable.
Goods can only be imported into the UAE by a company that is registered in the UAE and the goods must be relevant to the licensed business activity of the business. Goods manufactured in Israel cannot be imported into the How to trade us options in singapore dubai. You can find more about import tariffs in the Market Access Database.