In the last few years, the UAE has started to attract a great number of foreign investors in the region thanks to the facilities they offer those who want to open companies here. Among all the Emirates, Dubai and Abu Dhabi are the most appealing at the moment, as they provide for various tax advantages and a pro-foreign investments environment.
With the Dubai Expo 2020 approaching, Dubai is currently a hot zone of the Middle East and if you are considering starting a business here, our company formation agents can help you.
Apart from assistance, we can also provide you with 7 reasons for setting up a business in Dubai. You can read about them below:
1. The Dubai government plans on increasing foreign direct investments
What better reason for setting up a business in Dubai if not the attention offered to foreign entrepreneurs? Seeing the effect of foreign-owned companies established here, the local government plans on promoting new investment opportunities in Dubai.
You can rely on our Dubai company formation consultants for information on the legislation related to foreign investments.
2. 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. Overseas businesspersons commend Dubai for:
- 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.
If you are interested in starting a company in Dubai, you can rely on our local advisors.
3. 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. Commerce, trading, construction, IT and medicine are just a few of the sectors in which foreign businessmen interested in setting up a business in Dubai can thrive in.
4. Dubai relies on a great infrastructure
Road, air and water and the main transportation ways a country could have. Dubai is not a country, however, it has them all. As a matter of fact, those interested in setting up a business in Dubai will have a hard time deciding which means to use in order to send and receive their goods, as they are all equally developed. At the moment, Dubai relies on one of the most developed infrastructures in the world.
5. 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 located 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.
If you want to open a company in Dubai and need help, our consultants are at your disposal.
6. 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 located in mainland Dubai or one of the free zones, foreign investors can benefit from exemptions related to their businesses.
We can assist with VAT registration in Dubai.
7. Dubai’s reputation among the UAE’s Emirates
Dubai is the most reputed emirate in the UAE. The local government has invested so much 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 our local agents who can also help in registering it.