Over the last three decades, Dubai has become a business and leisure hotspot for people all over the world. There are tremendous business opportunities for aspiring entrepreneurs and every other day we see a new business being setup. Many multinational companies already have their headquarters in Dubai. There is indoor skiing, crystalline water, lavish underwater hotel rooms, exotic supercars that line the streets of Dubai as well as home to largest building on earth; Dubai is a booming metropolis that presents numerous business opportunities and unlimited potential for growth and development.
This is just the beginning of what Dubai has to offer. For those people who wonder what makes this amazing city all so unique and special, well, in this article we have gathered top reasons why Dubai is just what the doctor ordered for everything business-related.
1. Geo-Strategic Location
Dubai is a bridge between the East and the West due to its strategic location on the southeast coast of the Persian Gulf. The city sits on a significant and ancient trade route that is still very important in modern day trading between countries of different continents, making Dubai a natural pit stop for businesses moving from East to West and vice versa.
Dubai is a gateway to a market that can be characterized as:
- Large – access to over 1.5 billion people in the neighboring region covering the Gulf, Middle East/Eastern Mediterranean, CIS, Central Asia, Africa and the Asian sub-continent.
- Growing – Since 1988, Dubai’s total international trade has grown on average by more than 11% per year and due to government progressive policies and liberal outlook, demand will further grow in future.
- Prosperous – Dubai has buoyant local economy which is growing steadily. According to Dubai Statistics Center, Dubai GDP rose by 2.6% or AED 10 billion to reach AED 389 billion in 2017 with wholesale and retail trade sector contribution of 26.6%.
- Diversified – Shifting away from oil trade, Dubai has diversified its economy and resultantly foreign trade has boosted a lot.
- Accessible – served by over 120 shipping lines and linked via 85 airlines to over 130 global destinations
- Open – no exchange controls, quotas or trade barriers.
2. Benefit from The Tax Regime of Dubai’s Free Zones
If you are a foreign investor looking for business setup in Dubai, it is recommended that you look into free trade zones in Dubai that offer wide array of business facilities. There are favorable tax regimes in Dubai free zones meaning that there is no personal or corporate tax. Foreign entrepreneurs can also own their business completely.
Even though recently, UAE Government has lifted the condition of 49% ownership rule of foreign investors on Dubai mainland. Nevertheless free zones in Dubai continue to develop and offer variety of business opportunities and benefits to small, medium and large enterprises worldwide.
Read More: UAE to Allow 100% Ownership to Foreign Investors
Jebel Ali Free Zone, Dubai South free Zone, Dubai Airport free Zone, Dubai Media City are only a few of the 20 free trade zones of Dubai that present an ideal business location where you can start your business in excellent conditions where the taxation system plays a vital role.
3. Business and Living in Dubai
To start a business in Dubai, you do not have to worry about locating an office, retail shop or a manufacturing unit. Dubai’s state of the art infrastructure is ranked one of the best in the world. UAE is ranked 2nd globally in roads quality, 3rd in quality of air transport infrastructure, 5th in port infrastructure and 8th in ground transport network.
Political environment is very stable in UAE due to which Dubai enjoys low crime rates and social hegemony. Often Dubai is termed as “safe haven” for foreign investors. Surely, business can only flourish in a safe and stable environment.
Lastly, foreigners can choose Dubai for high standards of living. Apart from great investment opportunities and a constantly developed and reputable economy; there are luxurious residential places, developed means of transportation and a host of possibilities for self-development that play vital role when deciding for both starting a business and living in Dubai.
Start your business in Dubai or across UAE with KWSME Business Setup Consultants. You can call us on 00971-(04) 871 4313 OR email your query on email@example.com OR visit our website KWS Middle East to know more.