A destination of the 21st century; Dubai is one of the seven emirates of the UAE that has rapidly become world’s leading business hub. Often referred to as the ‘gateway between the east and the west’, Dubai combines the comfort and convenience of the modern western world with the unique charm and culture of Arab. Let’s look at the factors why Dubai is the perfect place to start your business.
1. Strategic Location
- Located in the heart of Middle East and is cross roads to continents such as Asia, Africa, and Europe. Key placement of Dubai on world map provides companies setup in Dubai with business easy trading modules and easy expansion to other countries as well.
- DXB Airport: Dubai international Airport (DXB) is given the title ‘busiest airport in the world’ by Airports Council International (ACI) in 2018. Traffic figures in DXB reached over 90 million passengers in 2018.
- Jebel Ali Port- Largest Container Port outside of Asia: Over 140 ports worldwide connection and over 13 million annual cargo tonnage.
2. Stable Economy
- UAE government Business is ranked as second worldwide in trust according to 2018 Edelman Trust Ranking
- UAE is in Top 10 Oil Largest Producer Countries
- UAE Currency Exchange Rate Stability $1= 3.6725Dhs. Since 1997
- There is 0% tax in UAE: 0% individual, 0% corporate, 0% income, 0% capital gain
UAE is home to famous buildings in the world with the state of the art infrastructure such as,
- Burj Khalifa – tallest building in the world (829.8m)
- Dubai mall – largest mall in the world (1124,000 meter square)
- Hospitality- world leading hotel groups are in UAE with over 75,000 rooms availability
4. Multinational Human Resources
- Multinational country – over 200 nationalities reside in UAE
- Visa free entrance -72 nationalities
- Business language – English
- Flexible, safest, most convenient, secure, high technology and ultimate metropolis
5. Dubai offers unique and distinct trade options
You can plan your business setup in Dubai that depends on two factors:
- Free zone: offers 100% business ownership
- Mainland Company: involves transfer of 51% share of ownership to sponsor
You should choose the location of your business depending upon the type of business.
6. Ease of doing business
Government of Dubai continuously encourages entrepreneurs to go for business setup in Dubai. The business laws are investor friendly and process of company formation in UAE is quite smooth, hassle free and quick.
7. Flexible business laws and regulations
Government of Dubai continuously comes up with regulations that are helpful for the entrepreneurs whether during business setup or while running the business. The most popular one recently is the announcement to allow 100% ownership to mainland companies and the latest visa rules that allow entrepreneurs to obtain 5 year and 10 year visa.
8. Recreational and Leisure facilities
If you are deciding to live in Dubai whether for business setup or job, you can be rest assured that there are multitudes of exceptional recreational and leisure facilities for all age groups. Dubai has world famous themed parks, underwater hotel rooms, sky high tennis courts, desert safari, indoor skiing, excellent cafes, restaurants and Dubai mall – a haven for shopping enthusiasts.
As a result, hospitality industry as well as food & beverage sector is flourishing in Dubai and they have millions of clients all year round. Therefore, this sector presents a fine investment avenue.
9. Continuous Construction
Construction sector is one of the pillars for Dubai’s future growth. Millions of tourists visit Dubai each year. Moreover, the population of Dubai is rising steadily. As a result the city is bustling with construction activity as malls, retail outlets, leisure spots, residential areas as well as pipeline of technology enabled projects are continuously added with time that present numerous business opportunities for local and international contractors.
10. Expo 2020
Dubai won the bid to host the Expo 2020 and only one year is left until the big event. An expo is essentially a large exhibition for countries to showcase their achievements. The expo happens every five years and is meant to last up to a maximum of six months. Dubai is the first place in the Middle East, North Africa and South Asia to host an Expo which is actually quite an honor.
The government of UAE has invested a substantial amount of money to ensure that Expo 2020 takes place without a glitch. Expo 2020 will provide UAE with an opportunity to attract foreign investment and build the economy faster. Industries which benefit from this event greatly are tourism, hospitality and infrastructure development. The main purpose is to promote the business in Dubai, increase global clientele and see more financial benefits after the big event.
If you are planning to start new business in Dubai or across UAE and need professional assistance, contact our Dubai business setup consultants at Trade Marketing Registration Dubai.