1. Zero Taxes
Dubai is praised extravagantly as a tax haven both for individuals and corporates. This feature has always been a magnet for foreigners who seek to start and expand their business without tax reductions. All companies in the UAE both in mainland and free zone, enjoy a tax-free haven. This is a great incentive for people looking to invest in the UAE market and set up their business in Dubai.
Dubai has becoming an ultimate destination for those who want to start a booming business. Thanks to its strategic location, stable economy, steady growth, tax-free regime, investor-friendly processes and etc. many consider it as their next location for business set up. Now let’s go through some of the key factors that contribute to making Dubai an attractive business destination.
2. Growing Economy The UAE is among fastest growing GCC economies in 2019. Dubai already enjoys a massive diversified economy with its GDP contribution coming in from 20 sectors. Also, Dubai has trade relations with multiple countries in the world which aids its economy. So, this growth and steadiness of the economy is a good motivation for investors to consider starting and growing their business in Dubai.
3. Legal System and Framework
Thanks to flexible legal system business set up in Dubai is now much easier than before. Dubai was the first emirate within the UAE to permit foreign ownership of property and stocks, followed by Abu Dhabi. There are also continuous revisions of existing investment rules, principles and incentive packages in favor of foreign investment.
4. High Return of Investment
The primary reason people invest is to generate steady income. Return of investment, better known as ROI, indicates how much profit you make after an investment. The rise in Dubai population will ensure returns on investment on the properties. Aside from being a tax-free investment, Dubai business sections come with huge diversity in areas. Also, comparing to other global cities and business centers like New York, Hong Kong, and London, Dubai is much more affordable, which means “spend less and gain more” is not a myth here.
5. High Living Standards along with Safety
According to a new ranking from global consultancy Mercer, Dubai offers residents the best quality of life in the Middle East, closely followed by Abu Dhabi. This is due to the UAE’s government progressive efforts to improve its infrastructure, attractive economic environment for foreign businesses, and a focus on increasing entertainment and leisure options. Beside its high-quality standards of living, Dubai is one of the safest cities not only in the Middle East but also the whole world. Thanks to the strict laws, punishments, and fines different sorts of crimes including pickpocketing, scams, and sexual harassment aren’t much of a concern to residents.
6. Hosting Expo 2020
October 20, 2020 is a special date everyone in the UAE looking forward to. The biggest event ever in the history of the Arab world would host 190 countries and millions of visitors. “I had the benefit of growing up in Vancouver that hosted the 1986 Expo, and once people saw the city, they kept coming back. “Said Robert Booth, managing director of Ellington Properties In an interview with Property Weekly. Hosting such a huge event would be an aggressive step in the UAE’s development and vision, and it is guaranteed that the businesses will be experiencing high returns on investment which is going to be one of the major benefits of starting a business in Dubai.
7. Tourism and Entrepreneurship are Flourishing
Dubai is one of the world’s top tourist destinations with exemplary entertainment attractions and fabulous landmarks. Some sources announced that tourists spend more time in Dubai rather than any other city in the world. Dubai welcomed 15.92 million visitors in 2018, and it is worth mentioning that Dubai International Airport is the world’s busiest airport by international passenger traffic. This growth in industry will simultaneously see growing job opportunities. In addition to that thanks to its strategic location, Dubai is a trading hub for the Middle East and North Africa. Enjoying various free zones offering world-class infrastructure, starting a business in Dubai as a foreigner is straightforward. Altogether, Dubai provides a full package of needed initiatives for setting up a profitable business and starting a new life and taking advantages of running a business.
