Norman Logistics Spo.zo.o.: United Arab Emirates – Low Taxes, Facilitated Business Start-up Process and Supporting National Policy for the Diversification of Business Activities
RIGA, Latvia, January 3, 2019/PRNewswire/ –UAE has been awarded the 25th position in the list of 190 countries with the best environment for commencing business activities, according to the latest report of the World Bank.
Rolands Petersons (Pētersons), the Member of the Board of Norman Logistics, finds that, “The UAE have decided to change economic policy – the increase of GDP will not rely merely on gas and oil sector which experienced decline in 2014. The diversification of economic activities provides new business opportunities for the manufacturing sector – metal working, manufacturing of construction supplies, glass fibre, furniture, fertilizers.”
The UAE has positive indicators in the aspects related to the regulation of business related taxes and registration of property. Namely, there is no profit tax, the labor force tax is 14.1%, but other types of taxes constitute 1.8% out of profit. The registration of property/the administration of land is a convenient and fast procedure, which could be carried out within two days in comparison to almost 30-day period in other countries of the Middle East and Northern Africa region.
The time and funds spent regarding any goods logistics process (from the warehouse to the port/border): the import of goods, on average, takes 66 hours and USD 961, the export of goods – 33 hours and USD 640.
The construction of a warehouse for goods that includes not only obtaining of Construction permit, but also submitting all required notifications and receiving all necessary inspections, is a process that includes 14 different types of procedure within 50.5 days in comparison to Europe and Central Asia, where the same process with a similar number of procedures takes 137 – 153 days.
If any trade or cooperation contract or disputes among the parties involved should be settled at a court, then this process in the UAE is sufficiently fast. According to the calculation of the World Bank – the hearing of one case at the court takes 445 days, which is at least 100 days faster than in any other country of the respective region or in the OECD country.
Norman Logistics is among the fastest growing forwarding agents in Global Market with substantial presence in maritime logistics and combined transport services. They provide complete “one-stop shop” international transport services for import and export requirements by Sea or Combined Freight Worldwide.
Source: Norman Logistics Sp.zo.o.