Dubai has converted itself into an international trading center and vital investment destination in many sectors of economy such as import, export, trading, logistics, event management, tourism, financial services, hospitality, and construction and so on. There are several reasons why a lot of entrepreneurs wish to do business set up in Dubai. Here are Top Ten reasons for choosing business set up in Dubai or business set up in uae on a first place for doing business.
10 reasons for doing business set up in dubai
Strategic Location: One of the top most reasons for why to do business set up in dubai is strategic location of UAE. UAE are situated strategically between Europe, Africa and Asia, Dubai is an ideal place for doing business set up in Dubai including international import, export, trading, logistics, event management, tourism, financial services, hospitality, and construction and so on. Dubai is located in the middle of the UAE. coastline stretching along 400 miles. It has access to both the sea and has one of the largest airports in the world, through which Dubai expedites transportation of goods between the West and the East. Thus, business set up in Dubai has an access to 2.5 billion consumer markets situated in the Gulf, Africa, Asia, CIS countries and Europe.
Multinationals Companies. Another reason of business set up in dubai is the presence of multinationals companies in dubai. Many globally well-known multinational companies including Microsoft, Nokia, Sony, LG Electronics, HP, Oracle, HSBC, Boeing, Royal Bank of Scotland, Shell, Emirates Airlines, Proctor & Gamble, BBC World and Adidas have their regional offices in Dubai. Furthermore, many globally recognized universities, colleges and schools have campuses positioned in Dubai, such as Michigan State University, the American University, Rochester Institute of Technology, London School of Economics, Wollongong University, London School of Business and Hult International Business School.
No Taxation: The top reason for why to do business set up in dubai is the zero- taxation in Dubai. The UAE’s economy in common is considered to be the most substantial and most diversified in the region. Dubai applies NO TAXATION policy for almost all types of business set up in Dubai with exclusion of branches of international banks, hotels and major oil and gas companies. The following taxes are NOT applied on business set up in Dubai:
- Capital gains tax
- Personal income tax
- Value-added tax
- Corporate tax
- Withholding tax
Safe Place to Live and Doing Business: The top most reason for why to do business set up in dubai is the Safety, a well-known characters of Dubai as it is one of the safest and harmless places in the world. The crime table in Dubai is one of the lowest in the world. The serious crimes such as kidnap, rape, murder and physical attack represent 0.5 to 1 for each 100,000 people, compared to the world average of 6 to 8 for each 100,000. Moreover, the UAE in common is considered to be one of the politically stable countries in the Middle East area. Security and political stability are some of the most important factors that have conveyed and attract many international investments and businesses into Dubai. Definitely business can grow only in safe environment.
Sea Ports and Airports: One reason of business set up in dubai is the Sea ports and Airports of dubai. Dubai has one of the biggest seaport (Jabal Ali Port) and the biggest airport (Dubai Airport) in the area. so business set up in Dubai you do not feel any hassle in terms of international freight – it is easy to bring goods to Dubai from any part of the world and likewise it is easy to send goods from Dubai to any part of the world through sea, air and land.
Residency Visa. Another most popular and well-known reason for why to do business set up in dubai is the residency visa option. If you setup a company in Dubai and in other Emirates of the UAE in common, you will be authorized to acquire a UAE Residency Visa for yourself, for family members and for other expat employees. Having a UAE Residency Visa will give many benefits such as: you can lease an apartment for long-term basis, you can open a current account in UAE Banks, , and you can get visas for other countries including Schengen countries more easily as a resident in the UAE, you can enter/exit UAE multiple times.
Infrastructure. If you are starting a business set up in Dubai, then you don’t need to worry about infrastructure of the business, finding an office, a retail shop, manufacturing unit or a warehouse – everything is ready to start. New and high standard residential, industrial and commercial, tourism facilities have been built quickly and on a great scale during last decades. Furthermore, new roads, more suitable public transport system, new international airport are being developed. According to Travel and Tourism Competitiveness Report of WEF, the UAE infrastructure has been rated as among the top countries in the world. The UAE came 2nd in quality of roads, 3rd in quality of air transport, 5th in sea port infrastructure and 8th in ground transport network.
Dubai Free Zones. One of the reasons for attraction of foreigner to start business set up in dubai is the free zones. Free Zones are nominated tax-free area, where foreigners can setup business with full ownership and without partnering with a local emirate partner or agent. All Free Zones vary from each another and offer licenses in numerous sectors. For example, there is a Free Zone for educational and training institutions (Dubai Knowledge Village); there is a Free Zone for healthcare providers (Dubai Healthcare City or DHCC); there is a Free Zone for media companies (Dubai Media City), there is a Free Zone for financial institutions and services providers (Dubai International Financial Center or DIFC) and many others. There are more than twenty Free Zones presently operating in Dubai itself.
Full Repatriation of Capital and Profits. One of the reasons of business set up in dubai is the option of full repatriation of capital and profits. Dubai has no restriction on repatriation of capital and profits. However a lot of companies favor to keep their money in the UAE itself due to UAE zero-taxation policy.
Living Standards. Last but not least reason of business set up in dubai is living standards in dubai, to choose business set up in Dubai is because of high quality of life and living conditions that one can enjoy in the Emirate. The UAE was classified as the No.1 country with the best quality of life in the region and 15th in the world out of 160 countries. Furthermore, UN Happiness Index has recently classified the UAE as the 14thhappiest country in the world. While enjoying high quality of life and living standards you can be extra productive and motivated by the positive environment around you.
There are several other reasons of why Dubai has become one of the preferred places for business set up in dubai, working and living. Expats make up nearly 90% of the total residents in Dubai, who are immigrants from almost two hundreds countries of the world. Expats are attracted, among other reasons, by business and investment opportunities in the Emirate.
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