5 Reasons to Start a Business in Dubai
Amongst the 7 emirates of the UAE, Dubai is one of the most popular cities and holds global significance as a business hub. Everything from profitability to ease of doing business can be affected by the location of your business. The countless benefits of Opening a Company in Dubai have made it very desirous for foreign trade and investments. The Dubai government opened the gates for various types of business setups from around the globe. Following recent survey results, consumer confidence in Dubai is ranked much higher than even Tokyo, Paris, London, or New York.
Top 5 Reasons to Start Business in Dubai
1. Strategic Location
Dubai – the jewel in the Crown of the Emirates – has welcomed a million foreign investors since the UAE government offers a world-class infrastructure that you can leverage for your own business in Dubai. Dubai’s location, infrastructure, and business reputation make it not only an ideal place to start a business in Dubai but also an incredibly easy place to attract business too. As one of the top trading hubs, Dubai has achieved exceptional trade growth, and hosts over 100 international trade show annually. Participating in these fairs enables you to network with multinational companies and explore more opportunities without sacrificing your regular operations.
2. Tax Benefits
One of the prominent benefits of opening a company in Dubai is that you do not have to pay any taxes. Dubai offers total exemption from any kind of tax, be it income, corporate or personal tax. Though, a few companies might have to pay a 5% VAT applicable on certain business activities. It comes as no surprise that this is the reason so many foreigners decide to set up a business in Dubai.
3. World-Class Infrastructure
Dubai has the one of the best infrastructural facilities in the world, be it the road networks, telecommunications, ports and airports. New and high-standard residential, tourism, industrial and commercial facilities have been built rapidly and on a massive scale during the last decades. Moreover, new roads, a more convenient public transport system, and new airports are being developed.
4. Business-Friendly Law
The government of the UAE offers plenty of opportunities for foreign investors for doing business in Dubai. Different legislation is put in place in the market to enable a comfortable environment for business across all industries and budgets.0Since foreign investments heavily drive Dubai’s economy, the government keeps amending the laws, making them more favorable for foreign investors. In addition, the documentation and legal procedures are fast-tracked to ensure seamless licensing, registration, and other processes.
5. Business Venture Opportunities
To encourage the most international investment in the UAE, they permitted 100% foreign ownership of businesses in the country. A new ten-year residency visa for overseas investors and experts in medical, research, scientific, and technological sectors was recently announced by the UAE federal government. People who apply for these visas also include their family members, making it an attractive option for individuals in industries like entrepreneurship and research.
- Diverse Economy
- Safety & Security
- Business-friendly Environment
- Quality of Life
- Business Incentives
- Multicultural and Cosmopolitan Environment
In conclusion, Dubai is the perfect place to start your own Business. Dubai has a strong economy, a stable political environment, and a supportive business community. With such a favorable business environment, UAE is one of the best places for local entrepreneurs and expat investors to start a business. The low-cost start-up options, a wide range of business activities, tax benefits, modern infrastructure, and access to international trade routes are some of the most favorable features.
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MARKEF is a leading Accounting Firm offering wide range of services including Accounting and Bookkeeping, Audit and Assurance, VAT and Corporate Tax, Business Consulting, Management Consulting, and Business Setup Services in Dubai and across United Arab Emirates.
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