Over the past thirty years, Dubai has transformed itself from a relatively small desert city into a veritable mega-city boasting of seven-star hotels, business parks, its very own palm-shaped man-made island, some of the tallest buildings on the planet, world class infrastructure and a big thirst for even bigger things!
With these advantages come opportunities that would rarely be seen in other cities in the world converging all in one place.
Top 10 Benefits of Business Setup in Dubai
Let’s take a look at why you must choose Dubai to start your next big venture:
A vast majority of taxes (personal, corporate, capital gains, VAT) are not existent in Dubai and that makes this city extremely business-friendly.
The visa regime in Dubai is expat-friendly, so having a business in Dubai means you can easily get a UAE residency visa. It makes leasing property, movement into and out of the country of UAE, and getting a Schengen visa easy as a breeze. This visa arrangement will make the UAE one of the easiest commercial hubs in the world for foreign nationals to settle and start their own enterprise.
These are basically tax-free places where ex-pats can completely own businesses without partnering with an Emirati agent or partner. These are of different types; healthcare, education, media etc. There are a variety of business activities being supported by the free zone policy making it easy for an entrepreneur to start their business at one of them. There are currently 12 free zones in Dubai at the airport, the Gold and Diamond Park, Dubai Internet City, the Knowledge Village, Silicon Oasis, Healthcare City, International Financial Centre, Sports City, the Dubai Palm Island Development, among others.
Though thanks to the practically non-existent taxation in UAE, most ex-pats choose to keep their money in Dubai itself, a stable exchange rate with the USD ensures that you can send money out of the country at your will.
Global Aviation Hub
The Dubai International Airport connects the huge continents of Asia and Africa with the western world, bringing together people from across the planet in one place to make opportunities materialize that would otherwise not be there.
It has a strong law and order system in place, which makes it safe for you, your family and your employees to work in and this draws the best global talent here.
It has a high-quality road transport network, as well as the world-famous Dubai Metro, you can get anywhere anytime without any hassle!
Dubai has something for everyone in the way of experiences; desert safaris, skydiving, relaxing dhow cruises, and waterparks that will blow you away.
It is expected that 11 million people from the UAE and 14 million from overseas will visit Dubai during the expo leading to a massive tourism boost, which will be a great time to be in business in the city. It is also anticipated that the expo will be a hotbed of innovation around energy, technology, finance and other sectors which will have great flow-on effects for businesses in Dubai.
Support from Bank and Financial Institutions
Banks are also helping SMEs address debts by offering loan repayment holidays and reducing fees. Financial institutions and other authorities, such as the Dubai International Financial Centre, Abu Dhabi Global Market, Kizad, and Dubai Silicon Oasis Authority, are funding stressed start-ups. Investment firms and accelerators, including AstroLabs, Hub71, Beco Capital, and Payfort, are offering potential funds.
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With all the points mentioned above, we’ve barely skimmed the surface of why you must choose Dubai; but here are some statistics to inspire you: 90% of Dubai’s population is made up of ex-pats, UAE is ranked the 14th happiest country in the world and it has one of the lowest crime rates in the world.