The idea of investing in a business turns out to be a crucial and risky decision. Regardless of a newbie or an experienced business professional, the investments are made with an expectation of earning a profit, or to receive a higher rate of return on the investment made. At this point, imagine if you need to involve a stranger as your business partner, holding the majority of shares, just because he or she turns out to be a local person.
Well, if you are a business owner and looking out for a platform to invest in, then you have landed at the right place. The United Arab Emirates turns out to be the perfect solution to your problem. According to the latest report, the Government of UAE has taken a drastic step of allowing 100% Foreign ownership to the business investors, without the intervention of any local sponsor. Sounds great right! This article is going to give you the information regarding the same. Keep reading ahead.
Business Scenario in the UAE
Along with the passing time, the UAE has been transforming itself as a global business destination. Dubai, the heat of UAE has become a pivotal hub that has lifted the GDP of the country to a great extent. According to a report published by Doing Business in 2019, the United Arab Emirates have been ranked 11th in the ease of doing business. Ranging from a small business to a multi-national company, the UAE serves home to every business entity. The GDP of the nation is expected to grow to $460 billion by 2019, i.e. 2.8%, and by 2020 it is expected to touch 3.8%, backed by Dubai Expo 2020 which is expected to attract 25 million global tourists. The Expo is looked like a business partnership platform, and almost all the countries are seeking forward for it. This will not only improve the investment inflows but will also build up a robust global network.
The Recent Initiative
Sheikh Mohammed bin Al Rashid, the ruler of UAE, has taken a drastic step by approving several business sectors eligible for 100 per cent foreign ownership. A total count of 122 economic activities across 13 areas has been taken into consideration. These sectors include renewable energy, space, agriculture, manufacturing, transport and storage, supply chain, logistics, hospitality and foodservice, information and communications etc.
We can say that this move will flourish the UAE’s economy to the next level. Numerous investment gates will be available for the foreign business investors to come forward and invest in, without any worry. Over the years, the Emirati government has taken multiple steps to ease the business establishment process. When it comes to business opportunities, the UAE serves to be an excellent ground for the numerous domains. To know more about the top businesses with high potential in Dubai, click here.
Next, let’s have a close look at the benefits that you will be deriving by establishing a business in the UAE.
Benefits of Setting Up a Business in the UAE
Once you proceed ahead by incorporating your business in the UAE, you will gain the following benefits:
1.Free Tax Exemption
Tax turns out to be one of the most significant burdens for any business person. To bring relief, the Government of Emirates have come up with tax exemption policy for the business owners and investors, which turns out to be an attracting feature that grabs their attention. So, if you want to free yourself from the tax burden, Dubai turns out to be the right choice.
The complete area of Dubai has been divided into different zones which have been dedicated to different business platforms. Various options like Mainland, Free Zone and Offshore are available that are dedicated to multiple businesses. You can choose the best location according to your business needs.
3.Upcoming Expo 2020
Starting a business in Dubai at this point turns out to be way beneficial, as Dubai Expo 2020 is on the way. As mentioned earlier, the gathering turns up to be one of the biggest partnership platforms, and you can equally benefit your business by getting involved in the same.
4.Easy Office Space
Once you gave a thought to initiate your business ground in Dubai, you don’t need to get worried regarding the office space. Dubai has understood the need of customized office solutions to suit every business need, and thus provides the same. You can choose the one accordingly that fits your business needs.
5.A Ground for Business Gathering
Dubai turns out to be a preferred choice by the business owners for their business conferences, exhibitions and gatherings, which attract numerous people from different global zones.
6.Easy Business Licenses
While carrying out the business operations, you might come across a point wherein you need to present a business license. This license gets issued by the Department of Economic Development (DED), which acts as a legal permit to carry out the business operations. To get a complete idea on the available business licenses, click here.
The region has got a robust network when it comes to connectivity. All possible ways like Airways, Waterways, and Roadways are available and that eases the business operations to a great extent.
The population of Dubai turns out to be a combination of worldwide nationals. By incorporating your business in Dubai, you will be able to target a large number of audiences from different citizens and grab their attention appropriately, which will turn out to be very beneficial for your business
9.Wide Options for Business Expansion
Once you set up your business in Dubai, you don’t need to worry regarding your business expansion. You will be having an easy way out to grab the international market at ease, which you can start by grabbing the neighbouring markets like Oman, Bahrain, Saudi etc.
10.A Platform for Global Hiring
It is a well-known fact that a business can’t run on its own. You need to hire the right person for the right job to make your company excel in the market. Dubai provides the complete flexibility of hiring talented professionals from every corner of the world and implies no restrictions on it.
11.Easy Visa Options
Once you have selected the right candidates, you need to provide them with the employment visa. Also, you need to make sure that you obtain the investor visa for yourself at the initial stage. The Government of UAE has taken numerous steps to speed-up the process to ease the company incorporation process for the investors.
The new move turns out to be way beneficial for business owners, investors and entrepreneurs. Establishing a business in Dubai at this point turns out to be a golden opportunity, which you can’t afford to miss. As you proceed ahead, you might face specific challenges during the incorporation process. To know the top challenges faced by business owners, click here. The smart option that business owners go ahead at the initial stage of the incorporation process is to get in touch with a business consultant. Subject matter experts can understand your business needs and have better clarity regarding the business proceedings. At Commitbiz, we are dedicated to providing the same to our esteemed clients. Our business experts hold industry experience and can curate tailored solutions for your business needs. If you hold any query or doubt, do contact us today-we’d be glad to assist.