Bogoljub Karic on the “Ease of Doing Business” in the UAE

Entrepreneur Bogoljub Karic says now is the perfect time to expand in the United Arab Emirates, at least according to the World Bank’s Doing Business 2020 report. 

The UAE leads the Middle East as an easy place to do business in, as it ranked 16 among the 190 countries surveyed by the World Bank. It ranked the highest among the Middle East and the Arab region. While it took a dip in the rankings as it was ranked as the 11th country before, it maintained its lead among the area. 

Marked Improvements

The reforms the UAE undertook last year helped maintain its good rankings. Bogoljub Karic points out that starting a business in the UAE is made even easier since fees are reduced for business incorporation. Construction permits are also easier to get, as the UAE uses a risk-based approach. There are also other incentives—fewer inspections, easier taxes, and more comfortable trading across borders. 

The Judiciary’s Help

Another factor that contributed to the favorable ease of doing business ranking in the UAE is the training and efficiency found in the country’s judicial system. In 2019, a report indicated that the UAE’s strategy to modernize its legal system led to the “successful creation of specialized commercial courts.” Electronic case management and new insolvency regimes ease the way for businesses.

Other Important Areas

For Bogoljub Karic, other areas play a significant role, as well. Dubai ranks high in the Mercer Quality of Living Index, and that contributed to the environment. Dubai has steadily developed society, experiences, and economies in the area. These add to the desirability of the location as a great place to do business or expand on a business.

Things are steadily getting better in the UAE. UK and US businesses should have smooth transitions in making an entry in the region if they start there.