Doing Business in Abu Dhabi
- haniasethi2
- Oct 12, 2022
- 3 min read
Abu Dhabi is the largest of the seven Emirates comprising the United Arab Emirates ("UAE"). The UAE came into being as an independent foreign state on 2 December 1971. The economy of the UAE is primarily based on Oil and Natural Gas though they are now going for diversification into other areas. Abu Dhabi leads in the production of Oil & Gas amongst the seven emirates with large known reserves. Abu Dhabi is the federal capital of the UAE and houses a number of federal ministries, the UAE Central Bank, and other government institutions. Accounting services in Dubai are important for every business to keep their financial records maintain.
Our findings provide interesting insight into the merits of why Abu Dhabi should not be ignored by any businessmen willing and why having a business setup in Dubai itself is not sufficient. The key findings of the survey are as follows:
More than half of the respondents strongly felt that doing business in Abu Dhabi has helped them to improve their turnover.
Two-thirds of the respondents felt that cost of set-up services in Abu Dhabi was lower compared to Singapore or Hong Kong.
Only one-fourth of respondents felt that doing business in Dubai was easier than in Abu Dhabi.
More than two-thirds found that the operating cost of the company set up in Abu Dhabi was much lower compared to Singapore and compared well with Dubai.
Answering the question on Abu Dhabi government entities welcoming new business setups, three-fourths of the respondents expressed satisfaction with the assistance provided to them.
More than four-fifths of the respondents were happy with the financial incentives provided by the government and that was a major reason for them to set up in Abu Dhabi.
On the talent front, more than half the businessmen liked the diversity of the workforce that was available for them to choose from while hiring talent.
On lifestyle options available for them, three fourth of the businessmen felt that government initiatives have begun showing results though still Dubai offered more recreational options compared to Abu Dhabi.
On supply chain, logistics, and infrastructure more than four-fifth of the respondents felt that what Abu Dhabi offered was the best in the region and compared well with setup UAE.
On rentals for doing business in Abu Dhabi, half the respondents felt that rising rentals and increasing traffic and parking woes were a cause of concern though they felt that the initiatives that are being taken by the government for incorporation help in Abu Dhabi solve the mitigate problem soon.
On the whole, the findings of the survey validate the perception that after the economic downturn that affected the global economy in the latter half of 2008 and early 2009, Abu Dhabi has been one of the least affected by the economic turmoil and rather has been growing strong in attracting new company set-ups Abu Dhabi.
Virtual Accountants LLC is a leading Chartered Accountant Company in the Middle East with offices across UAE. The company provides an entire gamut of Business services in Dubai ranging from assistance in set-up services in Abu Dhabi, incorporation help in Abu Dhabi, setup in Abu Dhabi, doing business in Abu Dhabi, company set-ups in Abu Dhabi, and company set-up in Abu Dhabi. The company has assisted more than 1000 companies to setup businesses in UAE and especially in Abu Dhabi.
For more information visit: https://www.virtualaccountants.ae/
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