Over the last three decades, Dubai has experienced unprecedented growth from an oil-driven economy to an innovation-driven business hub. With its strategic location, business-friendly government policies, open economy and the presence of sector-oriented free zones, Dubai has been able to establish itself as a prime location for companies and entrepreneurs to open a business.
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1. Ease of doing business
Dubai is undeniably the most advanced emirate in the United Arab Emirates (UAE), ranking 21st in the World Bank’s Ease of Doing Business survey this year. This is reflected in the fact that, with the paperwork and approvals in place, a company in Dubai can be set up in as little as a week. But perhaps the business advantage for which Dubai is known is its proliferation of free zones , categorised by industrial area. These offer the benefits of 100% foreign ownership, special corporate tax concessions and full repatriation of capital and profits.
2. Free economy and zero taxes
In Dubai, government control and regulation of private sector activities is negligible and there are no direct taxes on personal income or corporate profits.
It is a free trade economy that features minimal import duties and double taxation agreements with most of the world's major trading centres. A company formation in Dubai can enjoy liberal labour policies, with companies allowed to hire employees from anywhere in the world. In addition, Dubai also has a reputation for being a clean place to do business, with government controls in place to combat fraud or money laundering.
3. Development of infrastructure and logistics
Dubai is one of the most advanced cities in the world in terms of infrastructure. In fact, Dubai is ranked very high for infrastructure investment attractiveness . The UAE has internationally renowned specialized free zones, a top-notch international airport, world-class seaports, a modern road network, advanced telecommunications, and reliable power supply and equipment. Several international companies are headquartered in Dubai.
4. Emplacement favorable
Dubai is located midway between Africa and the Commonwealth of Independent States (CIS), and Europe and the Far East. It is connected by 85 airlines to over 130 international destinations and is connected by over 120 shipping lines. As such, it is easily accessible from any part of the world.
5. Prosperous standard of living
Dubai residents live a comfortable life in a booming city. It is home to a huge expatriate population. When it comes to real estate, housing, recreational facilities and educational institutions, Dubai is one of the most advanced in the world. It is also one of the safest cities, with one of the lowest crime rates.
Read about company formation in UAE freezones.
Dubai is an industrial and commercial hub. It is poised to become a preferred destination for foreign direct investment (FDI), in addition to its advances in economic diversification and sustainable development. If you decide to open a business in Dubai, contact us , even if it is just for a friendly advice. At Commitbiz , we have our team of experts to help you with company formation, registration, tax advice and business consulting.