Dr B.R. Shetty is the Founder and Non-Executive Chairman of the Abu Dhabi based NMC Healthcare and Chairman of UAE Exchange, which most recently hit the headlines for its acquisition of forex major Travelex. The Karnataka-born and UAE-based entrepreneur opens up to ‘India Global Business’ on his journey, his inspirations and future plans. What makes the UAE a good base for your enterprises?
In the last four decades, I have learnt so much about different cultures, made many Emirati friends and have realised that there is no place like the UAE to conduct business in.
I have got so many perspectives on life, learnt so much about world cultures that it has rounded me as a human being and a successful businessman. In the early Seventies, I came searching for a job and today, under the patronage of the royal family, I have 50,000 employees and a multi-billion-dollar empire spanning the globe.
With an open economy that has one of the world’s highest per capita income, with a sizeable annual trade surplus, the UAE has undergone an unprecedented transformation into a modern state with a high standard of living.
Some of the remarkable reasons for doing business in the UAE are: corporate tax and personal taxes are almost nil, import duties in the UAE are very low, there are Double Taxation Agreements, Free Trade Agreements and then there is a strong and competitive economy with a world-class infrastructure.
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