Why professionals are drawn to work in UAE branch offices
One of the most attractive and dynamic markets in the MENA region, the UAE has a stable and diverse economy, a conducive business environment, and high-quality infrastructure. Local free zones offer full foreign ownership, tax exemptions, and simplified procedures for foreign investors, among other things.
If you are a foreign company that wants to access the UAE market and increase your business presence, setting up a branch office in the UAE is one of the options. A continuation of its parent company that is based abroad, a branch office can perform the same activities as the parent company but is not regarded as a separate legal entity. Depending on your business preferences and needs, you may register a branch office either on the mainland or in a UAE free zone,
With a branch office in the UAE, your benefits are many. You may want to keep your existing corporate structure and identity, as the branch office has the same name and activities as the parent company. Since the UAE does not impose any currency restrictions or withholding taxes, you will be able to repatriate all profits and capital. Moreover, depending on your location and sector, you will enjoy low or zero corporate tax rates in the UAE. You will also be able to reach a large and diverse customer base in the UAE, the wider MENA region, and the global market through online platforms like Amazon. Another advantage is an opportunity to leverage the highly skilled and multicultural workforce, as well as the state-of-the-art infrastructure and technology in the country.
Remember though that setting up a branch office in the UAE also requires you to attract and retain qualified and talented professionals who will work for your branch office and contribute to its success and growth. This can be challenging, especially if you are competing with other foreign or local companies for the same talent pool.
The UAE as a destination for international talent
The UAE has emerged as a destination of choice for international talent looking for career opportunities and personal development in a dynamic and diverse environment. According to a survey by Boston Consulting Group (BCG) and The Network, the UAE ranked 12th among 197 countries as the most preferred destination for global workers in 2018.
Wonder why professionals are drawn to work in UAE branch offices? These are the main reasons:
- Competitive salaries and benefits: The UAE offers competitive salaries for professionals across various sectors and levels. According to Mercer’s 2020 Cost of Living Survey, Dubai ranked 23rd among 209 cities in terms of cost of living for expats. This means that professionals working in UAE branch offices enjoy high living standards with relatively low expenses compared to other global cities. Here, they can benefit from tax-free income, as well as various allowances and perks including housing, transportation, education, health care, and insurance.
- Career growth and development: Considering that the UAE has a vibrant and diverse economy that is driven by innovation, entrepreneurship, and diversification, you can achieve your career and professional development potential in full in the jurisdiction, regardless of what industry you belong to. The UAE has also invested heavily in tourism, trade, logistics, finance, technology, renewable energy, health care, and education. This means that professionals working in UAE branch offices will gain exposure to different industries and markets, as well as learn new skills and competencies. They will also benefit from various training and development programs offered by employers or external institutions.
- Cultural diversity and inclusion: In the UAE, you will find cultural diversity and inclusion for professionals across various backgrounds. The jurisdiction is home to more than 200 nationalities who live and work together harmoniously. It has implemented various initiatives to foster tolerance, inclusion, innovation, youth empowerment, gender equality, environmental sustainability, cultural diversity, and social responsibility among its residents. This means that professionals working in UAE branch offices experience a rich and diverse culture that respects and celebrates differences.
How to benefit your branch office’s workforce
As a foreign company that wants to set up a branch office in the UAE, you need to leverage these advantages to attract and retain talented professionals who will work for your branch office.
Don’t hesitate to offer competitive salaries and benefits that match or exceed the market standards and expectations of your employees. You need to conduct market research and benchmarking to determine the appropriate salary ranges and benefits packages for your branch office’s workforce. Review and update your salaries and benefits regularly to ensure they remain attractive and relevant. When hiring, communicate the salaries and benefits you offer clearly and transparently to your potential employees.
Growth and development opportunities that challenge and motivate your branch office’s workforce are a must. Hence, create a clear and realistic career path for your employees that aligns with their goals and aspirations. Remember that regular feedback and recognition are vital to your employees’ performance and achievements. Consider implementing various training and development programs that enhance your employees’ skills and competencies, as well as support their personal and professional development.
On the way to professional success, fostering cultural diversity and inclusion among your branch office’s workforce shouldn’t be disregarded. Be sure to build a culture that values and respects diversity and inclusion, while promoting collaboration and teamwork. It is a wise decision to implement policies and practices that ensure equal opportunities and fair treatment for all your employees, regardless of their background or nationality. You may also consider organizing various events and activities that encourage cultural exchange and awareness among your employees, as well as celebrate their diversity.
Professional assistance always pays
Setting up a branch office in the UAE can be a complex and challenging process that requires professional assistance. That’s why contacting International Wealth to help you with this is among the best things you can do. We have a deep knowledge of the local culture and institutions and a network of trusted local sponsors and service agents, let alone our rich industry experience. We are here to help you set up and grow your branch office in the UAE effortlessly. Time waits for no one, so contact us today and start your journey!
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