Dubai is a technologically advanced and comprises state of the art infrastructures and simplified and competitive environment. The strategic position of Dubai allows companies to access almost 1.5 billion people in three separate regions of the world. T has a cosmopolitan culture and has one of the lowest crime rates in the world. This global city has the benefit of having a competitive and tax-free business environment, which is very suitable for setting up any business.
To incorporate a business, any company requires certain conditions such as unfettered access to financial, energy and human resources, state of the art infrastructure, easy and quick transportation services, access to markets and finally a secure and safe place to start a business. Dubai possesses all of the above requirements making it the perfect place to set up a business.
Why Choose Dubai to Conduct Business?
The reasons for initiation and conducting business in Dubai are given below:
As the country is strategically located between the continents of Africa, Asia, and Europe, making Dubai the best place to set up the business. Dubai can be accessed via the sea and also has one of the largest airports in the world. With access to both sea and air, companies in Dubai can easily send their merchandise to the markets nearby.
Dubai has no taxation policy for all types of businesses. The only exceptions to this rule are the branches of international banks, hotels and very significant oil and gas companies. The taxes which are not applicable in Dubai are:
- Withholding taxes (WHT)
- Value Added Tax (VAT)
- Personal Income Tax (PIT)
- Capital Gains Tax (CGT)
- Corporate Taxes (CT)
UAE is a politically stable country and has some of the lowest crime indexes in the world. This political stability and the secure environment is a major reason because of which many of the multinational companies have invested in the country and have their offices and in some cases their headquarters in Dubai.
4.Availability of Free Zones
A free zone is a selected area in which any tax is not imposed on the companies conducting business. Any foreigner setting up and conducting business in the free zone can have complete ownership of the company and does not require partnering with a local sponsor. There are many free zones available to a company in Dubai, and an owner can choose the free zone according to the advantages and benefits the free zone offers to the company.
Many countries have certain restrictions on the capital employed and the profits earned by a company, but such restriction is not present in Dubai. Nevertheless, most of the companies like to keep all their profits and money earned in the country as there is no taxation in the UAE.
6.State of the Art Infrastructure
If you are a foreigner and want to move and set up a business in UAE, then you do not need to find a ready office or residential building. State of the art, plug and play offices and high standard residential buildings are already present and ready to move in.
In addition to the infrastructure as mentioned above, new transportation systems, new airports, residential structures etc. are being constructed in anticipation of an increase in the footfalls due to the World Expo 2020.
The proximity and easy accessibility to one of the biggest seaports and airports (Jebel Ali Port and Dubai International Airport respectively) allows easy transportation of goods to and from Dubai. No matter the distance, all assets and raw materials are always accessible to the companies in Dubai, as well as these companies, can access markets all over the world.
8.High Quality of Life
Dubai is ranked as number one in the Middle East and Africa (MEA) region and has achieved 15th place amongst the world. Moreover, according to the UN Happiness Index, UAE is ranked as the 14th happiest nation in the world. High quality and standard of life will also help in increasing the productivity of the people and will also inspire positivity among the people.
9. Benefits Offered by the Country
Many general benefits are offered by the UAE in general. These benefits are enumerated below:
- 100% ownership and repatriation of capital
- Very low or no export and import duties
- Strong and politically stable government
- Almost 115 Double Taxation Agreements with different countries
Dubai has the highest population of expatriates and immigrants from all over the world, and this is because of the above mentioned various benefits and advantages of setting up a business in Dubai.
So, if the reasons mentioned above have convinced you to set up a business in Dubai, then do consult "Commitbiz". Our business advisors will help you to establish your company and will also take care of the various other processes such as VAT and Tax Calculation, finding an office building in the locality and many other services. To know more about the multiple services do contact us – we'd be happy to help you.