The UAE has long maintained a policy of encouraging foreign investment. From a financial perspective, the stable UAE dirham pegged to the US dollar, the absence of income and corporate taxes, exchange restrictions and the ability to repatriate capital and profits make it a very attractive proposition when considering setting up a business in the UAE. There are minimal trade barriers and tariffs within the region, allowing an investor the freedom to trade goods at competitive prices.

1. COMPANIES MOVE HEADQUARTERS TO DUBAI
July 2015
Investing in the UAE
The UAE has long maintained a policy of encouraging foreign
investment.
From a financial perspective, the stable UAE dirham pegged
to the US dollar, the absence of income and corporate taxes,
exchange restrictions and the ability to repatriate capital and
profits make it a very attractive proposition when considering
setting up a business in the UAE.There are minimal trade barriers
and tariffs within the region, allowing an investor the freedom to
trade goods at competitive prices.
The development of free zones (FZs) in Dubai provides many
locations within which a foreign investor can set up a 100
percent owned business with each FZ focusing on certain types
of investment. An easily available skilled workforce, modern
communication, sea and air transport network, excellent
infrastructure and the geographical location of the UAE all
serve to provide the foreign investor with a stable and reliable
investment climate.
The UAE developed a reputation as a strong regional business
hub and more and more business is attracted, creating healthy
market competition and a wide choice for consumers in the UAE
and the region whose spending habits are increasing year on
year. The UAE is also experiencing a growing number of visitors
and this contributes to the excellent quality of life enjoyed by
local and expatriate residents alike.
UAE headquarters
Over the past years, many multinational businesses have chosen
to locate their regional headquarters in the UAE, which has led to
Dubai gaining a reputation as a regional centre.
The UAE is a white listed onshore jurisdiction that offers offshore
jurisdiction services as well as opportunities that exist only in
mature industrial and financial hubs. International businesses
moving to the UAE find themselves in a thriving market with
HALLIBURTON TO MOVE HEADQUARTERS TO
DUBAI
“… Halliburton Co. surprised the energy world, members of
US Congress and the city of Houston today by announcing
it will open a new corporate headquarters in the UAE and
relocate its CEO there.
The world’s second-largest oilfield services company and
biggest US contractors operating in Iraq, said the new office
in Dubai will help strengthen its presence in the Middle East,
Africa and the Far East, where its business is growing.
Today, the company posted a press release on its website
saying its chairman and CEO, Dave Lesar, had announced
that he would be relocating to Dubai to open a “corporate
headquarters office”. Lesar made the announcement at a
regional energy conference being held in Bahrain.
Halliburton said the move to Dubai is part of a previously-
announced strategic plans that calls for expanded relations
with state-owned oil companies and direct more resources
and investments in growing the company’s business in the
Eastern Hemisphere.
More than 38 percent of Halliburton’s $13 billion oilfield
services revenue last year came from sources in the eastern
hemisphere, where the firm has 16,000 of its 45,000
employees…”
(Houston Chronicle, March 2007)
PFIZER TO SET UP NEW REGIONAL HQ IN DUBAI
“…The world’s leading research-based pharmaceutical
company, announced the establishment of its new medical
and marketing headquarters in Dubai, licensed by Dubai
Biotechnology and Research Park (DuBiotech) in TECOM
Free Zone.
Pfizer’s move comes as part of its strategy to establish
Dubai as its regional hub for Middle East and Africa. The
pharmaceutical major boasts over 1,300 employees in the
Middle East with regional offices in Dubai and Cairo.
Detailing DuBiotech’s advantages, Jeffrey B. Kindler,
Chairman and CEO of Pfizer Inc, said: “DuBiotech has
a holistic vision on how the biotechnology industry is
required to operate for registering consistent growth. The
biotechnology park has realized the need for top-tier talent to
sustain this line of business. Dubai has a wonderful investor-
friendly climate. The extraordinary vision of its leaders has
ensured the emirate is our location of choice for setting up
Pfizer’s Gulf regional headquarters…”
(Malta Media, April 2008)

2. COMPANIES MOVE HEADQUARTERS TO DUBAI
excellent infrastructure between the west and the developing
east, able to generate new business. A pro-business government
encouraging foreign investment, has developed the country
into a cosmopolitan centre welcoming a diverse specialist and
competitive workforce.
Dubai is well established as the prime destination for
multinational corporations to set up their regional base and
serve the high growth markets in the Middle East, Africa and
South Asia most efficiently. Its global reputation as a wealth
generator and investment stronghold continues to drive the
city’s growth. Dubai is also an ideal launch pad and complete
growth ecosystem for large, medium and small enterprises
across diverse sectors. Local authorities work alongside new
ventures and existing companies to ensure their smooth journey
towards solid and sustainable success. They assist and guide on
all aspects of business decisions, from identifying opportunities
across key sectors and determining the best legal structure
to connecting investors to a vast network of government and
private sector facilitators and clients.
Inanutshell,theUAEhasexcellentconditionsforforeigninvestors,
both regional and international have sought opportunities to
place capital in the country as it earned a reputation as a safe
haven. According to the office of HH Sheikh Mohammed bin
Rashid Al Maktoum, Vice President and Prime Minister of the
UAE, a total of US$11bn of international investment flowed into
the economy in 2013, US$9.2bn in 2012 and US$7.8bn in 2011.
Tax efficient double tax treaties
The UAE has concluded nearly 80 double tax treaties, many of
them with OECD countries.
UAE’s extensive double tax treaty network enables investors
to reap the tax benefits of using a UAE based entity to hold
investments worldwide, while also increasing the attractiveness
for foreign investors to set up business in the UAE.
UAE is a zero tax country. Although countries in the past were
often reluctant to allow significant benefits in treaties with low
or zero tax countries, many recent treaty partners have realized
the advantages of making it attractive for inward investments.
Some of the UAE’s recent treaties have been very favourable for
the UAE investor despite UAE being a tax free country.
In many treaties which use the exemption method of
taxation there are ample opportunities for UAE subsidiaries or
headquarters of European American and Asian holding entities
to set-up, meet substance criteria, become tax efficient and
reduce substantially overall group taxation.
CONTINENTAL MOVES REGIONAL HQ FROM
GERMANY TO DUBAI
Continental has relocated its regional head office to Dubai,
UAE.
Prior to 2015, the tyre manufacturer’s sales, marketing, and
customer services departments for the region were based
in Hanover, Germany.
The firm claims that the relocation will help drive
expansion in its passenger and light truck tyre (PLT), and
commercial vehicle tyre (CVT) segments across the Gulf
and wider Levant.
“Our motto is “in the market for the market”, and by basing
our team in the region, we are now better placed than ever
to understand local requirements for the benefit of the
region’s customers and drivers”, CEO Andreas Beitram
added.
(Construction Week, February 2015)
STARWOOD MOVES GLOBAL HEAD OFFICE FROM
US TO DUBAI
“.… Starwood Hotels and Resorts Worldwide has relocated
its global headquarters from Stamford, CT to Dubai for a
month-long period.
The move follows Starwood’s first temporary relocation of
its headquarters to China in June 2011.
“With 80 percent of Starwood’s pipeline coming from
rapidly growing markets, it is simply not possible to lead a
truly global business from a boardroom in Connecticut”,
said CEO Fritts van Paasschen.
Dubai epitomizes this changing face of travel, and we
expect this relocation will deepen our relationships with
partners, associates and customers. Just as with our one-
month relocation to China in 2011, our time in-market will
spark new ideas that will fortify our position as the most
global highend hotel company…”
(Hotelier, March 2013)

3. Commontaxexemptionsinmanytreatycountriesareexemptions
for profits derived from a so called permanent establishment
(“foreign branch exemption”) and exemptions for profits derived
from a qualifying subsidiary (“participation exemption”). For an
investment in a tax free country like the UAE, the application of
an exemption in the country of residence is clearly beneficial, as
the company will effectively benefit from the fact that there is no
domestic taxation of its business.
Brazil knocking
“Although almost 12.000 kilometres away, the South American
nation is now expanding its presence in Dubai”, according
to Sidney Alves Costa, Middle East director of ApexBrasil, the
Brazilian Trade and Investment Promotion Agency.
“In recent years, the Brazilian presence here has increased a lot.
We have 34 companies present here in different sectors such as
food, we have regional operations of Embrear, the world’s third
largest manufacturer of airplanes, we have two Brazilian banks
present here, we have companies in sectors of cosmetics, spare
parts and medical devices”he said.
Last year, Brasil Foods (BRF), the world’s largest poultry exporter,
also announced plans to set up a US$120 million factory in Abu
Dhabi’s Khalifa Industrial Zone (Kizad).
“This shows that the UAE is one of the most important markets
for our production for chicken – it makes sense to process it here
and export to regional markets”said Costa.
The main concern for investors from Brazil is that they do not
know much about the region, he says, but that is changing.
“We have around 9 or 10 companies that are debating whether
to come here and we hope to enter 2014 with at least 40
companies”.
AccordingtoCosta,althoughBrazilhasestablisheditsreputation
in the UAE’s food sector, the country has much more to offer.
“We have extremely qualified construction companies that have
solutions for some needs that even US and European firms do
not have and people are not aware of this”.
(Gulf Business, July 2013)
Dubai sees potential with South Korea
“South Korea is one of the leading Asian partners for Dubai and
the UAE, visible across critical sectors ranging from energy and
infrastructure to automobiles and consumers electronics”, Fahad
Al Gergawi, CEO of Dubai FDI says.
GLOBAL HOTEL ALLIANCE RELOCATES HEAD
OFFICE TO DUBAI
“… Global Hotel Alliance (GHA), the world’s largest
alliance of independent hotel brands, has relocated its head
office from Geneva to Dubai.
While the move is partly believed to be motivated by tax
benefits, it is another sign of the growing magnetism of
Dubai and its geographical suitability as a base to target
emerging markets. Last month Starwood relocated its
head office to Dubai.
The relocation of Global Hotel Alliance from Geneva to
Dubai is one more affirmation that Dubai is now seen as
a centre of global tourism and a strategic location from
which to access key growth markets…”
(Gulf Business, April 2014)
SWISS BELHOTEL TO MOVE HQ TO DUBAI AMID
EXPANSION PLANS
“… Noel Massoud, who joined the hotel operator Swiss
Belhotel in August 2014, said the group recorded strong
performance in the region in 2014 and expected growth to
continue through 2015 as a result of expansions.
He said Swiss Belhotel has decided to move its
headquarters from Hong Kong to Dubai to follow up its
regional expansion plans that include the opening of at
least 20 hotels in the Gulf and other parts of the Middle
East…”
(Arabian Business, January 2015)

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South Korean investments in the UAE has been steadily growing
over the past few decades and hit UAE dirhams 826 million
in 2011 when Korea’s state power company was entrusted
with building the UAE’s first nuclear reactor. Major investment
outcomes are also expected in the near future.
With Dubai getting ready to host the World Expo 2020, South
Korean construction and engineering expertise has an unrivalled
opportunity. On another note, South Korea is known to promote
its small and medium enterprises to compete on a global stage,
much like Dubai.
“Preparations for theWorld Expo 2020 along with the expanding
free zone network and the integrated multimodal logistics hub
at Dubai World Central are elevating domestic demand and
supply chains in Dubai’s growth to a new level. We will invite
South Korean investors to explore this new and exciting business
landscape and offer them Dubai FDI’s expertise in facilitating
foreign investment”, Mr Al Gergawi added.
(Gulf Times, June 2015)
COMPANIES MOVE HEADQUARTERS TO DUBAI