Business Name Generator – part of Adventrum Group – has analysed the conditions for launching startups in 52 countries around the world. According to their findings, the UAE came in third after Hungary and the Netherlands. The Philippines, Italy and Brazil were identified as the most difficult countries for starting a business due to their comparatively high taxes and burdensome bureaucracy.
The study evaluated nine parameters: tax rates, quality and cost of living, level of happiness, cost of hot-desking (a hybrid office with desks not assigned to particular employees), Wi-Fi speed, GDP per capita, expected GDP growth and the timeframe for setting up a business.
The UAE was also ranked second on the list of countries with the lowest corporate tax at 9%. In addition, GDP per capita here amounted to USD 47,663, and was one of the highest among the countries in the top 10 of the ranking. The country's GDP is expected to grow by 4% in 2024. This indicates a strong national economy that is favourable for launching startups.
The UAE is also efficient. It takes only four days to resolve all necessary legal matters required to start a business in the UAE, which is one of the shortest time frames among the countries in the ranking.
The level of happiness in the UAE is estimated at 6.6 points on a 10-point scale, which indicates a favourable psychological and social climate for businessmen. According to the survey, the cost of living in the country is also at a comfortable level at just USD 984 per month.
A competitive tax regime combined with positive economic indicators and favourable forecasts makes the UAE one of the most attractive countries in the world for starting a business.