Innovation is the key that the United Arab Emirates has been following for decades to drive the nation’s growth. The Government of Mohammed bin Rashid Al Maktoum foresees the country to stand as the world’s most powerful economies driving every business industry to its peak level. Over the past few years, the region has leveraged the business establishment opportunities for the business owners and investors, entrepreneurs, and freelancers. It is to be kept in mind that irrespective of the business nature and size, the UAE turns out to be a profitable investment destination.
To leverage the potential to the next level, the Emirati government is on the way to proceed ahead with the next move of inaugurating the Dubai Future District, dedicated to the future economic developments. This guide is drafted to give you a complete scenario regarding the progress initiated and the impact in the corporate world. If you are planning to start a business in the UAE, then this is a must-know for you.
Dubai Future District
Targeting the year 2020 as the year of transformational shift, a significant move has been initiated by the Government of the UAE. On 14th January 2020, another visionary move has been announced by the HH. Sheikh Mohammed regarding the latest move designed by the Dubai Council. According to the set projections, the Dubai Future District will be a bridge that connects the Dubai International Financial Centre (DIFC), Dubai World Trade Centre (DWTC). A massive investment of around AED 1 billion funds have been injected to launch the ground, which will turn Dubai into a nexus for business. The core aim is to establish Dubai as the world’s capital of the new economy by focusing on 50 goals plan, that is to be completed in the next five years.
Impact in the Emirate of Dubai
With the launch of the program, multiple changes are expected across the business industries. The significant move will bring a difference in the logistical and legislative moves. Apart from this, the probability of international partnerships will reach the next level. Some of the other steps include the following:
- High revenue fetch-in opportunities in the non-oil segment of the UAE
- Expansion of the foreign market opportunities
- Building a robust logistic system to enhance the import-export proceedings
- Leveraging the capabilities of the international shipping lines
- Boost the travel and tourism industry in the UAE
- Core focus to target the establishment of around 50 offices at a global level to promote Dubai
These moves will have a significant impact on the business industries. So, we can say that this move would leverage the benefits for the investors and business owners to proceed ahead with setting up a business in Dubai.
Benefits of Starting a Business in Dubai
Speaking on a global front, business owners prefer to invest in Dubai because of the below reasons.
1.High-end Business Ground
Over the years, the UAE has established itself as one of the most attractive platforms when it comes to the business establishment. The region provides flexibility to the business owners to proceed ahead with business setup options irrespective of the nature and size of the business. Be it a newbie or an experienced professional, Dubai is a good-to-go option with company established options. There are multiple business options in Dubai that one can proceed ahead and thrive in the international market.
As compared to the other locations, the UAE pays out better returns on the investments made. This is one of the driving factors that provoke investors to choose Dubai as their first choice when it comes to the international establishment of business entities.
3.Larger Target Audience
The UAE is a nation of collaboration, that holds a massive population from over 200 countries, and thus, there exists a vast market holding different demands. This turns out to be a booming opportunity for business owners to come forward and target the relevant audience.
When it comes to business expansion, Dubai is the perfect option to proceed ahead with. Surrounded by the neighboring countries like Bahrain, Qatar, Oman, Saudi Arabia, it turns out to be an excellent opportunity for business owners to expand their business, and give international wings to the same.
5.Upcoming World Expo 2020
Another reason that the global business owners have constantly been investing in the region of UAE is the forthcoming Dubai Expo 2020. The event, which will be held over six months, is expected to be a game-changer that would drive multiple business opportunities.
Thus, you can see that there are multiple benefits of incorporating a business in the UAE. However, one must be clear regarding the whereabouts and legal proceedings before investing a considerable sum. It is recommended to proceed ahead with the guidance of a certified business expert who holds complete knowledge and understanding of the business process. To get clarity on hiring an expert, do have a look at the next section.
Why to Avail Professional Services?
Business owners and investors prefer to proceed ahead with the expert’s advice because of the multiple benefits the region provides.
1.Possess In-depth Knowledge
Being a business professional, business experts end up dealing with multiple clients in different business industries. Such professional dealings contribute more in leveraging the knowledge that the business expert has regarding various industries.
2.Streamlines the Necessary Activities
The knowledge that the experts hold allows them to carry out the activities at ease. While dealing with the business incorporation proceedings, they are in a better position to streamline the necessary business activities, which helps to complete the relevant proceedings on-time.
3.Sort the Legal Procedures
Documentation plays an essential role when it comes to business incorporation. Professional experts are well-versed with the legal procedures that get involved during the business establishment and ultimately completes the task in a hassle-free way. The same might turn out to be complicated if carried out without proper knowledge.
4.Lowers the Burden
The documentation process turns out to be a tedious task. Having half-knowledge or no knowledge regarding the processes might turn out to be more complicated. Once you hire business experts, your burden decreases to a great extent, which increases productivity. Also, you can make effective utilization of your available time.
5.Better Utilization of the Available Resources
The option of hiring a professional expert paves out the opportunity for the business investors to utilize the current resources more profitably. While the business professionals take care of the legal proceedings, you can use your resources to build more effective and strategic planning for your business.
Thus, you have got better clarity now regarding the benefits that a business owner can gain by opting for professional services. Apart from the points mentioned above, there are multiple benefits that a business owner on practical grounds.
How Can We Help?
Intending to provide the best business incorporation services, Commitbiz Consultants stands as one of the top ten business consultants in the UAE. With the help of in-depth knowledge and high-end industry experience, our business advisors are keen to provide tailored solutions suiting the business needs. In case you hold any query, do have a word with our experts. Contact us today-we’d be glad to assist.
What is AREA 2071?
AREA 2071 provides an environment or co-working space for entrepreneurs and bright minds across the globe to network, brainstorm, & ideate innovative business solutions. Thus encouraging people to pursue their entrepreneurial journey.
AREA 2071 is one of the initiatives launched by the UAE government under the Dubai Future District.
What is Dubai Future Foundation?
It’s one of the initiatives coming under the Dubai Future district plan. Its aim is to create an ecosystem rooted in innovation.
Dubai Future Foundation does this by bringing together incubators, knowledge resources, labs, etc. So that people can get the best possible ecosystem and resources for innovation and create business opportunities.
How is the government incentivizing businesses in Dubai Future District?
The UAE government has invested $272.3 Million into Dubai Future District Fund for providing financial aid to all kinds and types of businesses.
The fund is allocating 50% of the capital to venture capital funds and the other half will be invested in startups directly or indirectly.
Where can I get licenses for doing business in Dubai Future District?
Dubai Future Foundation is providing licensing services to all businessmen and entrepreneurs who want to set up their businesses in UAE.
Companies will get a 3-year commercial license along with the benefits of the AREA 2071 ecosystem.
AREA 2071 is offering discounted licensing fees to entrepreneurs.