Being recognized as the ultimate destination for shopping, luxury, entertainment and business establishment, Dubai has attained the position as one of the world’s highest targeted destination. Every year millions of foreign expats visit the nation for numerous reasons which have fetched multiple investment opportunities for business investors to come forward and invest. This blog will highlight eight reasons which will make you understand as to why investment in Dubai turns out to be a perfect option now.
1.A Growing Economy
The journey from the land of oil to the area of a global business hub, Dubai has seen a transformational growth. The primary focus at the initial stage was the oil and gas industry, but in due course of time, the region has shifted its focus towards the non-oil business sectors, and have seen a boost in all possible domains. At present, the GDP growth stands at 2.9%, which is expected to boost drastically in the next few years. From the year 201-2018, the region has attracted multiple foreign investors who have to add on $21.6 billion through FDI. This has paved out various ways for investors to start a business in the UAE.
2.Multiple Business Options
The city of Dubai holds enormous opportunities for business establishments. Ranging from an entrepreneur, freelancer or even established business owners, everyone has got ground to implement their business ideas. Over the past few years, the nation has built itself as an ultimate business ground for numerous industries ranging from tourism, hospitality, retail etc. Freelancers who are expert in their domain like digital marketers, IT professionals, fashion designers can step forward to implement their ideas and start a business in Dubai.
3.Multiple Location Options
Now, you must be wondering where to set up the business. Well, don’t worry. The Emirate of Dubai holds different regions like Mainland, Free Zones and Offshore. Each of this zone has got their specifications, which benefits an investor to start a business according to their business requirements. It serves out to be profitable if you have an idea regarding all the three locations before setting up a business in Dubai.
Every year the Government of Emirates takes numerous initiatives to uplift the UAE’s economy, and grab the attention of international investors. Smart actions have been made in all possible business industries for both government and private sectors. Since the inception of the Smart Dubai project, more than 130 initiatives have been formed, which includes the Dubai Data Initiative, Dubai Blockchain Initiative, Dubai Paperless Strategy etc.
5.100 % Repatriation of Capital Invested and Profits Earned
Another important dimension that every business person is concerned about is related to the liquidation and the steps after that. Now, to ease the process for the investors, the Dubai Government provides complete freedom to the business owners to come ahead and repatriate the total capital invested and profits earned, which turns out to be beneficial for the business professionals.
6.No Personal Tax
One of the most frightening thought that appears in the mind of business professionals is regarding tax. To provoke the investors to come ahead and invest in Dubai, the personal tax has been completely exempted. Recently, the VAT rule has been implemented in the UAE, which mandates the corporate entities to pay a VAT of 5 per cent. So, if you start a business in the UAE, you don’t have to pay personal tax.
One of the benefits that you can provide your company is to get international exposure. By starting a company in Dubai, you can quickly get exposure to the global market and can expand your business to the other Emirates, or even to the neighbouring countries like Oman, Bahrain, Qatar, and grab more customers. Also, opening a branch office in Dubai turns out to be a perfect idea for your local business, as it will enhance the goodwill of the company to the next extent.
8.Upcoming Dubai Expo 2020
The world is looking forward to attending the forthcoming Dubai Expo 2020, which is going to get conducted for a duration of six months. The event is expected to be a game-changer which is going to attract more than 25 million visitors globally. Multiple partnerships are looked forward, and the exhibition focuses mostly on uplifting the SMEs, Mid-level companies and start-ups.
In a nutshell, you have seen the core reasons as to why Dubai stands as an ultimate investment ground. Being a business person, if you are seeking an investment platform for your business, then Dubai is the best option that can leverage your business growth. Now, it is recommended that at the initial stage, you should take the help of business consultants who are well-equipped with the business incorporation process. Commitbiz Consultants in Dubai stands as one of the premier business consultants in Dubai who have helped numerous clients to incorporate their business across UAE, Qatar, Bahrain and Oman. Our business advisors are well-versed with the legal formalities and can guide you accordingly at every step. In case you hold any query, do speak to our advisors to figure out the answers. Contact us today-we’d be glad to assist.