Audit Firms In Dubai

Dubai is located in the northeastern United Arab Emirates and is the largest single shopping center, main port and capital of the state of Dubai. Dubai's economy was built on the backs of the oil industry, which developed rapidly after oil was struck in the mid-1960s. Dubai has changed dramatically over the past three decades, becoming an important business center with a more dynamic and diversified economy. Dubai enjoys a strategic location and is the largest re-export center in the Middle East. The city now has thriving manufacturing, finance, information technology, wide selection of goods from Dubai and tourism and home to many multinational corporations such as AT & T, General Motors, Heinz, IBM, Shell, and Sony.

The emirate of Dubai is strategically located between Africa and the Middle East and between the Far East and Europe, making it a gateway to over 1.5 billion consumers located in countries surrounding the sea Red and the Gulf. It has excellent infrastructure with the consequence that it became a vital link in the transportation and distribution system.
The Dubai economy enjoys a competitive combination of cost, market and environmental advantages that create an ideal investment climate and attractive to businesses and local expatriates alike. In fact, these advantages not only rank of Dubai in the Persian Gulf-purpose business center with a multi leading luxury property in Dubai and regional hub city, but they place it at the forefront of the world dynamic and emerging market economies.
Dubai, with its ancient traditions and maritime trade, has long been recognized as a hub for the Middle East leading business and emerged as the key re-export center. In recent years, the emirate has become an important event for a number of more and more, profitable industries and activities:
aec Meetings, conferences, exhibitions
aec Tourism
aec Regional Headquarters
aec Centre Regional transport, distribution and logistics
aec Banking, Finance and Insurance
aec Business and industrial consulting
aec Real estate sector offering various goods to Dubai
aec Information and communications technology
aec Light and medium manufacturing
The manufacturing sector in Dubai is very healthy with some of the most important industries including beverages, chemicals, paper, pharmaceuticals and rubber. All major international accounting firms have offices in Dubai and the city is also home to dozens of nationally and locally incorporated international banks. In March 2000, the UAE's first stock exchange, the Dubai Financial Market was opened. The tourism industry is the fastest growing sector in the economy of Dubai. The number of tourists visiting Dubai has increased dramatically over the last 10 years, and many of them to invest in Dubai property, particularly in regard to visitors to Western Europe, and the government hopes to attract 10 million tourists per year by 2010. In this context, huge investments have been made to develop the town hall, recreation and leisure facilities.
In Dubai, there are no personal taxes other than import duties (mostly at prices up to 10%), a tax of 5% residential assessed on rental value, and 5% tax on hotel services and entertainment. turnover of Dubai oil enormous that the government does not need to raise revenue through direct taxation. As a result Dubai is a "no tax" emirate characterized by an almost complete absence of taxation. There is no withholding tax or capital. With the exception of a bank.