Marked as one of the most profitable business grounds in the world, Dubai today firmly stands as an investment podium. The region is an on the go option for business professionals, be it a newbie or an experienced one. Now, before an investor invests, it is recommended to analyse the market properly and then proceed ahead with a green go. With a GDP rate of 2.9% in 2019, the ground of UAE has been successfully performing as one of the evolved business grounds. Along with the time, the company set up process in Dubai has been made flexible enough to ease the company incorporation process.
Now, when it comes to investment, there are multiple business options that the ground of the UAE provides to the global business owners. This guide will take you through the top five business industries that foreigners prefer to proceed ahead, and finds it possible to invest in.
Known as one of the famous tourist spots at a global level, Dubai, is one of the breeding grounds for the tourism industry. In the year 2018, the region holds a count of nearly 16 million tourists, which paves out numerous business opportunities for investors dealing in the travel and tourism industry. In terms of revenue, the sector contributed AED 164.7 billion to the country’s GDP, which is approx. 11%. The spending made in the UAE travel can be clearly understood from the below illustration.
If you are involved in the travel and tourism business, then this is the perfect time to expand your business in the region of the UAE.
Another industry that goes hand-in-hand with the tourism industry is the hospitality industry, that is one of the catalysts that drive the UAE economy. From 2007 to 2017, there has been an increase of 138%, which is a massive mark. By the year 2022, the UAE’s hospitality market is expected to reach a count of $7.6 Billion with a CAGR of 8.5%. By the year 2022, the UAE room capacity is projected to be 183,718. Considering the future opportunity, the sector holds, most of the global investors prefer to proceed ahead and invest in the UAE’s hospitality segment.
If you are planning to incorporate or expand your hospitality business in Dubai, then this is the right time for
you to proceed ahead.
Healthcare is another segment that the UAE has been constantly spiking up and has constantly been transforming itself as one of the regional medical tourism hubs. According to the projections made by the World Bank, the UAE population is expected to hold a count of 11.055 million by 2030, with a life expectancy of 79.4 years. The Government of UAE has been closely monitoring the healthcare industry. It has built Dubai Healthcare City (DHC) for the business investors who are interested in opening a business in the healthcare segment. Specific licenses need to be obtained accordingly from the respective authorities.
When it comes to buildings and construction, Dubai leads the way. The region has excelled in its creations when it comes to personal and commercial developments. According to Dubai’s 3D Printing Strategy, by the year 2030, almost 25% of the buildings will be completed after infusing 3D Printing. Another projection states that the Emirate of Dubai is expected to deliver more than 163,000 homes by the end of 2021. Now, in the real estate segment, different categories involve:
- Hospitality Market
- Residential Market
- Office Market
- Retail Market
- Industrial and Logistics Market
Each of the section mentioned above needs space to carry out their own business activities. We can say that Dubai is one of the investment-magnets for the business investors dealing in the real estate segment, and if you are one among them, then this is the right time for you to step in and invest.
Technology has been a boon to numerous business industries as it bridges the global gap. Additionally, technology has made human life simple, be it in a personal or professional way. It is a well-known fact that tech-industry is one of the booming industries and paves out enormous opportunities for business investors to come forward and invest in. When it comes to the region of the UAE, the domestic tech industry holds a value of USD 8 Billion. To leverage and boost the sector to a great level, the Government has built Dubai Techno Park and Dubai Internet City, that acts as one of the booming free zones in Dubai.
Benefits of Incorporating a Company in Dubai
The region of Dubai is regarded as a hot-bed for company incorporation because of the following reasons:
1.Flexible Legal System
When it comes to the legal proceedings, the United Arab Emirates have got a favourable legal structure that allows the business owners and investors to carry out the business operations at ease. According to the stated rules of the UAE, a business owner or investor is completely exempted of paying personal tax. On 1st Jan 2018, the nation has implemented the VAT proceedings, seeking it as a new route to generate additional revenue to boost the economy further, and is fixed at just 5 per cent, which is to be borne by business entities.
2.Flexibility to Repatriate Complete Capital Invested and Profits Earned
Company liquidation is a sign that the company may not have performed well. During the liquidation process, paying additional tax stands out to be a massive burden. The region of UAE exempts the business owners to pay any amount and provides them with the flexibility to repatriate the total capital invested and profits earned during the business cycle.
3.Booming Business Destination
Year-after-year, the region of Dubai has been improving itself to stand as a thriving business destination. Dubai stands as a soft ground for numerous business industries and owners to start a business irrespective of size and nature. This increases the flexibility for the business investors to come forward and invest in Dubai. By analysing the business growth in the region, the government has eased the business setup process.
4.Easy Availability of License
Just like a driving license permits an individual to drive a vehicle; similarly, a specific business license is to be obtained by the business owners to carry out the business operations in a proper way. Dubai provides a wide range of business licenses. Once the respective permit is obtained as per the business requirement, the activities can be carried out quickly. Most of the investors prefer to proceed ahead with business professionals to grab a license since they are well-versed with the legal proceedings and can as they ease out the process to obtain a business license.
5.An International Gateway
Dubai, the heart of the UAE, is the mid-way when it comes to business expansion. Most of the business owners and investors prefer to set up a business in the UAE with the ultimate goal of expanding the same in the international market. The neighbouring countries like Oman, Qatar, Bahrain are highly accessible and helps the business owners to earn more revenue covering the GCC region.
Sheikh Mohammed Bin Rashid Al Maktoum is the pioneer of the United Arab Emirates who has converted an oil-based economy to a commercial business ground. With a long-term vision, the Government of Dubai has been planning exceptionally well to build the region as one of the world’s best business podium.
One of the eye-grabbing features that attract millions of tourists to the ground of the UAE is the infrastructure the region holds. Ranging from the local to international network, the UAE maintains a fabulous infrastructure network, which helps the business entities to complete their business operations on time and in a smooth manner.
8.Upcoming Expo 2020
Successfully won the toss back in 2013, the United Arab Emirates is on the edge of inaugurating the World Expo 2020 that is seen as a game-changer. The event will be conducted for six months, until April 2021. During this period, the event is expected to grab the global attention of around 25 million visitors, that would boost multiple business industries like Tourism and Hospitality. According to the projections, the event would fetch in more than Dh 122.6 million AED that would spike the GDP of the nation to the next level. The event is also said to be a well-suited ground for the SMEs, who want to flourish and give international wings to their business ideas.
Why Avail Professional Business Consultant Services?
Once you join hands with a professional business consultant, you will be gaining the following benefits.
- Burden-free of the legal proceedings
- The company tasks are maintained professionally
- Help you in building relevant business strategies
- Streamlines the business process
- Core pillars like accounting, taxation, auditing processes are established
- Market insights can be easily known and implemented accordingly
How Can Commitbiz Help?
With the effort of providing the best business incorporation services, Commitbiz has been performing as one of the top ten business consultants in Dubai. Our business experts take the initiative of understanding the business needs and cater to them accordingly. Since inception, we have been helping multiple business owners and investors to establish their business entities in the region of UAE, Oman, Qatar and Bahrain. The industry experience held by our business experts helps them to provide tailored solutions according to the business needs. In case you are looking forward to set up your business, do have a word with our business experts. Contact us today-we’d be glad to assist.