Reasons for Setting Up a Business in Dubai
The UAE has started to influence a great number of foreign investors in the region glad to the facilities they offer those who want to open companies here. Among all the Emirates, Dubai and Abu Dhabi are the most appealing now, as they provide for various tax advantages and a pro-foreign investments environment.
Apart from assistance, we can also provide you with few reasons for setting up a business in Dubai.
- The Dubai government plans on increasing foreign direct investments
The special consideration to foreign entrepreneurs to starts a business by UAE Government is the main attraction of investors in Middle east. Seeing the effect of foreign-owned companies established here, the local government plans on promoting new investment opportunities in Dubai.
- Dubai now provides for an easier company registration procedure
According to recent surveys, but also foreign entrepreneurs already operating on the local market, it is easier to set up a business in Dubai now.
- The administrative procedures related to business registration have been simplified a lot in the last two years
- The company incorporation procedure is also faster, a business being able to operate in a matter of days
- Certain restrictions have been lifted when it comes to foreign investors interested in setting up businesses in Dubai
- Opening a company in Dubai is more affordable than in other developed cities in the world
- Both the start-up and annual maintenance costs of Dubai companies are cheaper than in other cities in the region.
- Dubai has a diversified economy
If until recently, most of the investment opportunities revolved around oil industry, now, Dubai boasts one of the most diversified economies in the region. – Real Estate, Retail, Financial Services, Tourism, Research and Development, Innovation, Construction, IT and Healthcare are just a few of the sectors in which foreign businessmen interested in setting up a business in Dubai can thrive in.
- Dubai relies on a great infrastructure
Road, air and water and the main transportation ways a country could have. Dubai is a small region. However, it has them all. As a matter of fact, those interested in setting up a business in Dubai will have sources to deciding which means to use in order to send and receive their goods, as they are all equally developed. Now, Dubai implemented, most developed infrastructures in the world.
- Dubai’s free zones, an excellent investment incentive
Dubai is surrounded by special economic zones, each of them providing for one or more specific activities which can be completed. Among these, we mention just a few:
- Dubai International Financial Centre (DIFC) which is tailored to the needs of foreign investors interested in the financial sector
- Dubai Maritime City (DMC) which caters to the needs of those who want to operate in the maritime and trading industries
- Dubai Multi Commodities Centre (DMCC) which also caters to the needs of those interested in the trading industry
- Jumeirah Lake Towers Free Zone which is in the heart of the city and it provides for those seeking to register commodities marketplaces
- Dubai Technology and Media Zone which provides for the needs of those who want to create companies in the IT sector
- Dubai Gold and Diamond Park which is one of the most important jewelry centers in the Emirate
- Dubai’s tax exemptions
We couldn’t fail to mention that one of the most important reasons for setting up a business in Dubai is its taxation system which is mainly characterized by tax exemptions. No matter if the company is in the mainland Dubai or one of the free zones, foreign investors can benefit from exemptions related to their businesses. And, there is a special exemption for VAT in free trade zone companies.
- Dubai’s reputation among the UAE’s Emirates
Dubai is the most reputed and fast-growing emirate in the UAE. The local government has implemented lots of plans in the city by coming with smart and innovative solutions to attract foreign investors, that its efforts are now repaid by the reputation the city has made for itself.
If you need more reasons for setting up a business in Dubai, do not hesitate to contact A&A Associate LLC who can also help in registering it.