Benefits of Starting a Business in Dubai
Dubai is a scintillating city with mesmerizing sky scrapers, big malls providing a single shopping destination and truly commendable infrastructure facilities. It is a dynamic city always evolving with technology and innovation. It can be called a global city with vibrant traditions and cultures. Despite its extravagant style of living, it is still rooted to its traditions and cultures.
Dubai was always considered to be a dusty old town, which thrives on plethora of oil wells, and local trade. But the wealth has always attracted many minds to settle in this town.
In the recent decade or two this oil and trade affluent economy has transformed into a business hub, leaving behind many top cites of the world and marking its place among the top cities to be chosen by business men around the world to flourish their business or for fresh minds to capture the highly potential market. Business houses and individuals alike are earnestly trying to get the best out of this bubbling market.
Here are some of the reasons to set up your business in Dubai:
Placement in the World map
Geographically and culturally, Dubai is located comfortably between the East and the West, which allures businessmen considering the logistics and also the diversified market. It is considered to be the gateway to world’s progressive markets. Its at the crossroads of east and west assisting international trade.
Ease in business policy
To make the country a business hub, the economic policies have been eased greatly attracting billions of people around the world. Relaxed immigration formalities, business licensing policies have added to the ease of doing business here. Dubai is called the ‘Hub of import and export’, which makes the availability of resources relatively easy and also provides market for the products. Dubai is first among the Emirates to permit foreign ownership of property and stock.
Excellent infrastructure, communication, technology and innovation friendly environment
Transport, logistics are the main inputs which Dubai can boast about. Its one of the best tourist spots in the world attracting large number of tourist every year. With two international high class airports, cargo hubs, its largest sea port, and technology driven road and rail network, it can literally be called paradise for the traders. The communication sector is working on providing 5G services to its customers.
The Socio-political environment has witnessed major transformation with all glitz and glam, thanks to the remarkable vision of the ruling elite making it a future global destination. There is no dearth of opportunities in Dubai. There is a vibrant mix of expatriate and Emirati population which lives amicably. The political environment is pleasing and business supporting, contributing significantly to the astounding growth of the city.
To attract foreign investment, Dubai has several Free zones like Jebel Ali, wherein the investors have 100 percent ownership and repatriation of profit and capital. Exemption of import and export duties, no minimum share of capital, tax exemption are other features. This has attracted big business houses to invest in Dubai.
Tax free environment
The investors in the free zone enjoy a tax free environment. The personal, corporate, capital tax are exempted in free zone, with relaxations in the mainland.
Large number of expatriate population helps the investors to choose from plethora of skilled and unskilled workforce. The expatriates and the Emiratis together provide abundant workforce at relatively cheap rate.
Dubai has emerged into a highly potential market and with these and many other reasons it has become a investor friendly market.