Dubai has steeply been climbing the ranks as a global commercial capital, attracting an increasing influx of entrepreneurs, business owners, and service providers looking to take their business global. In addition to its amazing strategic location, aggressive legal reforms to boost foreign investment, establishment of free zones and its reputation as the gateway to the world’s most progressive markets, has turned Dubai into the biggest business hub. With a horde of opportunities that would rarely be seen in other cities, here are some of the greatest perks of company formation in Dubai.
Tax-free Zones
Dubai’s tax-free business environment is a huge perk to new companies, which is more and more entrappers flock to Dubai to set up shop. All companies operating in the Dubai Mainland or in one of the free zones are exempt from corporate and income taxes which translate into major cost savings down the lane. In addition to the numerous existing free zones, Dubai Government is in the throes of establishing more tax-free zones catering to different industry verticals. In order to lure foreign investors to Dubai, the Dubai government offers new companies the infrastructure and support that they need to grow and take their business benefits for press release to unprecedented heights. Aspiring entrepreneurs can also benefit from the presence of HNWI’s in Dubai.
Strategic Location
Location is one of the biggest factors to consider when we talk about the growth and development of businesses. Dubai boasts an excellent blend of transportation links, essential services, residential areas, and logistics facilities. Dubai provides ease of transportation of goods between different geographical regions. Not to mention, Dubai greatly benefits from its excellent strategic location between Asia, Europe, and Africa, as well as easy access to the Middle East and the GCC markets. Chinese and Indian traders easily trade in Africa via Dubai, while Latin Americans use Dubai as a trading hub in South Asian markets. In addition, Dubai’s Jebel Ali port is the biggest airport in UAE, connecting 90 shipping services across 140 ports in the world. In a nutshell, company formation in Dubai offers your business a strategic advantage if you are looking for expansion to other countries.
Plans To Increase Foreign Investment
The UAE government is increasingly making it easier for new investors to set up shop in Dubai by passing new laws to accelerate investment. Most of the new laws, especially allowing up to 100% foreign ownership of businesses, are highly favorable to businesses. It comes as no surprise that Dubai has seen a 41 per cent increase in foreign direct investments, which is an indication of how the economy is welcoming foreign investors. The government of Dubai also offers supportive monetary schemes and welfare programs to foreign investors in Dubai.
Trade opportunities
Dubai’s strategic location makes it well-placed for cross-country trade. Businesses located in Dubai, or anywhere in the UAE, can easily trade with the Asian, African, and Gulf countries. Dubai also hosts plenty of international exhibitions and trade shows throughout the year, where you can network with international companies and reach up to 1.5 billion populations. In addition, the establishment of Dubai wholesale city has taken Dubai’s reputation as a business hub up a notch.
Safety
Dubai is in the top 20 safest cities in the world, free from agitation, aggressive demonstration, and communal riots. Although it’s a geopolitical hot spot, Dubai is a crime-free country due to the efficiency of its law enforcement agencies. Equipped with latest technology gadgets and a state-of-the-art fleet comprising of Ferrari, Lamborghini & Bentley, Dubai Police doesn’t let anyone disrupt the peace. As a result, Dubai is one of the safest place for company formation for investors from all over the world.
Long Term Visas
Dubai has recently announced the provision of long-term visas for foreign investors in a bid to make Dubai the most favorable country in the eyes of international investors. Thanks to Dubai government, it will be much easier for foreigners to secure a long term visa to live there. This move will increase the influx of foreign nationals looking to settle and start their own enterprise.
Free Zones
Dubai is home to a number of free zones established to encourage foreign trade and investment. These industry-specific business districts are all equipped with communication infrastructure, predesigned warehousing facilities, full-fledged workspaces equipped with the most up and coming technology, and amenities, needed to set up a business. In addition to tax-free operations, ease of setup and visa, and repatriation of profits, companies operating in the free zones do not need a UAE local sponsor to set up shop. Free zones allow 100 per cent foreign ownership, plus these businesses are exempt from benefits taxes and customs duties. Not to mention, Free zone businesses in Dubai are exempted from import or export duties to all non GCC countries. Easy access to air, rail and road transport systems helps facilitates export for all businesses.
Sign in to leave a comment.