4 Benefits of Taking Your Business to Dubai
Having transformed itself from a small desert trading outpost to a world-class business destination in a mere forty years, Dubai has established itself as a very attractive place to do business. Entrepreneurs continue to flock to Dubai in droves, taking advantage of the very favourable conditions which make it a great place to live, visit, and operate a business.
The very location of the UAE is an important reason why Dubai has emerged as an international centre of business. Strategically located at the crossroad of East and West trade routes, Dubai unites Asia with Europe, aiding the flow of people, goods, and trade to—and from—any part of the world. It has built a reputation as a global leader in export and re-export capabilities, and with its long coastline and aviation hub, people from around the globe find Dubai to be a place where they can easily connect.
The Top 4 Reasons Why You Should Open a Business in Dubai
Its location is not the only reason why Dubai is a great place to take your business. More and more entrepreneurs are discovering the opportunities Dubai offers to expand their business into international markets. Here are what we think are some of the great benefits of this destination:
1: THE CITIES FREE-TRADE ZONES
Dubai has 37 areas designated as free-trade zones. These are economic trading zones that have been established to attract and aid a variety of foreign investors and entrepreneurs. Businesses set up within these zones can be 100% foreign owned. Outside of these zones, foreigners are unable to own the majority of a company—their ownership rights are capped at 49%. As such, free-trade zone areas are by far the preferred location for foreign-owned businesses.
These zones are generally always outfitted with first-class business facilities, are personal income, withholding, and corporation tax exempt, are excluded from import/export duties, and require little to no capital deposit. Furthermore, there are no restrictions on the volume and nature of movement—or repatriation—of investment funds. Free-trade zones also provide opportunities for the registration of offshore companies.
2: ADVANCED INFRASTRUCTURE
Dubai boasts a world-class business infrastructure. Business owners will find easy access to land, premises, roads, telecommunications, and travel connections, all of which contribute to Dubai’s business-friendly environment. The city is seeing an increase in the establishment of business centres, micro-offices, and co-working spaces, making it quicker and easier to transition to the region.
These innovative, flexible, and affordable working spaces, equipped with state-of-the-art facilities and amenities, certainly add to the attractiveness of Dubai for many companies looking to move their businesses. Toss in a highly-rated international airline and one of the busiest ports in the world, and business owners will find everything they need to establish and conduct business in Dubai.
Additionally, founding a workforce is also pretty simple. With a highly-skilled and conscientious populace, which includes local and foreign workers, finding the right person for the job is rarely a problem.
3: ECONOMIC STABILITY
There are many factors that contribute to the stability offered to businesses in Dubai—the low crime rate, negligible taxation, and stability of the national currency are just a few. Financially speaking, Dubai is a very stable city where poverty is almost non-existent.
With a strong economy, insulation from external economic dynamics, as well as its forward-looking, innovative mindset, Dubai proves to be a very steady and secure place to do business. Also, within only a few years, Dubai has managed to establish itself as one of the top financial centres in the world. Its dynamic, diversified, and buoyant economy which continues to enjoy growth provides a durable source of stability.
Sustainable public finances, and the regular and sympathetic introduction of new laws and regulations in support of the maturing economy and fast-paced business environment also contribute to the political and economic stability the UAE experiences.
4: DUBAI'S BUSINESS-FRIENDLY GOVERNMENT
An important factor in attracting business to any region is the presence of a business-friendly government. Without the support of an administration with business-friendly policies and regulations, no region will achieve this goal. Essentially, the ability to make doing business easy and profitable rests in the hands of the government.
In the UAE, and particularly Dubai, the government was pivotal in the open-for-business direction the country has taken, and decisive in its actions to empower their country—and their economy—by encouraging foreign business and investment. With a clear goal of long-term sustainability, they went about creating and supporting the mechanisms required for establishing themselves as an efficient, effective, and inexpensive place to do business.
The government even goes so far as to offer services enabling visa applications and renewals, licensing, residency establishment, translation, business support, and sponsorships. By delivering a business-friendly atmosphere, the government of the UAE has successfully established itself as an outstanding centre for business.
OPEN FOR BUSINESS
Business owners around the world have already discovered the merits of taking their business to UAE, and have been reaping the rewards of their efforts. This article has summarised four of the biggest reasons why you should open a business in Dubai, but they’re not the only ones. If the city has caught your attention and you would like to learn more about achieving growth in this region, contact us for more information.
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