Do you dream of starting a business in Dubai and making a big chunk of money? An SME, start-up, restaurant, bakery, ready-to-wear boutique, or any other business of your choice. Thanks to its overall attractiveness, international influence, and dynamism, Dubai is home to countless lucrative opportunities for foreign investors and entrepreneurs from across the globe. Discover the top 15 reasons to start a business in Dubai, UAE.
Top 15 Reasons to Start a Business in Dubai, UAE
1. Expat-Friendly and Easy Dubai Residence Visa
The first reason to start a business in Dubai is the expat-friendly and easy visa regulations in Dubai.
By setting up a business in a free zone of Dubai, you will be able to obtain a residency visa quickly, not just for you but also for your family members and employees. You can enjoy additional benefits with your visa, including:
- Effective visa application for other regions and countries, such as Schengen countries
- Ability to open an account in any local bank
- Freedom of movement
- Long-term house leases
2. Booming Economy
The business will expand more quickly in a strong economy. In Dubai, thousands of business owners invest per year, and the country’s economy is expanding dramatically as well. The 2020 Expo has increased the impact by about 2 percent. The expansion of the economy will boost earnings and open up new profitable prospects for both free zone and mainland firms.
3. Free Trade Policy
Dubai encourages free trade, therefore government-level limitations, restrictions, and control on private corporate entities are negligible. Private companies are not subject to income tax laws. Because the laws and rules governing employment are beneficial for local and international investors and hence, employers are free to hire workers from anywhere in the world.
4. Legal Framework
The UAE government wants to boost the economy by bringing in international capital. To help them achieve this goal, the government has updated its legal structure for international investors who want to launch a company. For foreign nationals, the laws are entirely different, with the exception of criminal law.
The red tape is small, and all legal processes are done in no time. Paperwork requirements are little to nonexistent, and registration procedures and licensing are straightforward.
5. World Class Infrastructure
The fantastic transport system, economic and social infrastructure, such as complex service and financial sector, top-of-the-line residential and office accommodation, and well-developed transport links, etc. are the major things that represent Dubai. Such excellent and state-of-the-art infrastructure is the reason why foreign investors gravitated toward it. Dubai offers excellent infrastructure to facilitate business formation and growth.
6. Global Job Opportunities
Many business owners from throughout the world are drawn to Dubai for company formation. To bring people and company owners together on one platform, Dubai hosts numerous job fairs and international exhibits. The mainland Dubai and free zone setup for businesses offer the best option for connecting with multinational corporations to expand a business and make money.
With the greatest business setup advisors in Dubai, you can register a free zone license for a low cost. If you are aware of the initial process from costs to procedures for running the firm, setting up a business in the United Arab Emirates becomes simple. Working with the top business setup consultants in Dubai may make this process even simpler. Professional business setup advice from company formation experts in Dubai such as Riz and Mona can help you obtain trade license registration in no time.
7. Upgraded Living Standards
Compared to other emirates in the UAE, Dubai offers a much higher standard of living. Expats make up a large portion of the population in Dubai. Dubai’s citizens benefit from contemporary home amenities and services. Furthermore, the real estate market and top-notch advanced medical facilities in Dubai are well-known. Crime rates are low in Dubai as a result of strict rules which makes it a suitable city to start a new business.
8. Strategic Location
Dubai is located at a strategic location where there are countless trading opportunities. Because of its central location, Dubai has significant trade connections with important cities like Hamburg, London, Moscow, Hong Kong, and others. Dubai is one of the leading trading centers that has had tremendous trade growth. Every year, this Emirates organizes more than 100 international trade shows. By taking part in these fairs, Dubai-based businesses can network with international corporations and explore more business options without having to compromise on day-to-day activities.
9. Availability of Manpower
It is no more a hidden thing that the UAE attracts skilled and unskilled workers from all over the world, especially from India and other south-eastern countries, in search of work. As a result, business owners do not have to worry about a shortage of workers in the UAE. Both employers and employees benefit from low taxes and high wages in this region. This shows the business-friendly environment of Dubai.
10. Foreign Direct Investment
When investment comes into a country, its economy becomes resilient, gets strong, and grows rapidly. The attention that Dubai offers to foreign-invested companies is a great reason to set up a business there.
Dubai has a history of significant FDI growth; in the first half of 2019, it attracted AED 46.6 billion, a 135 percent increase over the same period in 2018. Despite the economic difficulties brought on by the coronavirus pandemic, Dubai is committed to accelerating economic growth every year. Dubai most recently disclosed $409 million for the tourist, trade, and retail industries.
Even government-related organizations have started to offer assistance packages to their suppliers and business partners.
We, at Riz and Mona, offer special pricing packages for business setup for solopreneurs, start-ups, and major corporations. You can get in touch with Riz and Mona to get further details.
11. Resources
Entrepreneurs and fresh graduates can easily find professional employment opportunities in a variety of industries, including health and safety, engineering, information technology (IT), fashion, and academic sectors. There are numerous energy resources available at extremely affordable prices, including natural gas, oil, and petroleum. Dubai’s government offers tons of benefits to developers and investors who set up businesses there.
12. Hassle-free Business
According to World Bank surveys of 2020, the UAE is ranked 16th overall in the category of business ease. It is estimated that Dubai would enter the top 10 rankings for ease of doing business in the near future. In Dubai, you can open a business in more than a week, submitting all the necessary paperwork, and other requirements are met. Other advantages enjoyed by investors include ownership of assets, tax breaks, perks from free zones, etc.
13. Tax Exemptions
Learning about local tax regulations and structuring your company to pay the least amount of taxes is one of the biggest challenges of starting a business in a foreign country. But that is not the case with this Emirates. Dubai provides a variety of tax categories and corporate ownership structures. The free zones offer the advantage of complete tax exemptions which makes them outshine other countries. Corporate and income taxes are exempt from payment and there is a tax credit of 30% on expenditures for television and foreign film production. This means you won’t have to pay any income or business taxes to the government and can retain all of your business profits. Just be careful to register your businesses with the authorities of the Dubai free zones.
14. Profitable Capital
Due to the low tax environment, well-connected transportation system, affordable real estate, and most recent advancement in Dubai, it is known as the Middle East’s corporate hub and economic center. According to the most recent surveys, Dubai is currently ranked 15th globally due to the reasons mentioned earlier. So, doing business in Dubai is surely profitable.
15. Business Ownership
Foreign business investment is often only allowed to own up to 49 percent of the business share, while the local partner is given 51 percent. Foreign entrepreneurs can benefit from complete ownership of the company through a variety of business structures in the UAE. 100% ownership means you can get all the profit and shares of your company with you.
FAQs – Frequently Asked Questions
Why should you start a business in Dubai?
Ease of doing business, complete ownership of a company, hassle-free business establishment, and good profit are some of the reasons to start a business in Dubai.
What makes Dubai a good place for an entrepreneur?
Dubai offers tax exemptions, world-class infrastructure, awesome living standards, countless resources, and much more which makes it a good place for an entrepreneur to start a business here.
What are the benefits of doing business in the UAE?
The benefits of doing business in the UAE are as follows:
- Availability of manpower
- Foreign investment
- Strategic location, making it easy to connect with other international markets
- The ever-growing economy and the list goes on.
Why UAE is the best for business?
The business environment in the UAE is favorable which makes it the best for business. The UAE has an advantage over other parts of the world due to its top-notch infrastructure, modern services for everyone, and ease of doing business. According to the World Bank’s Ease of Doing Business Report 2020, the UAE was rated 16th overall in the world.
Start Your Business in Dubai With Riz and Mona
We believe we have provided you with enough solid and logical reasons to start a business in Dubai, UAE. To set up your business in Dubai, you require to reach out to business setup experts in the UAE. Riz and Mona have experienced company formation consultants in Dubai offering exclusive packages to entrepreneurs and businesspeople. Get in touch with Riz and Mona right away to set up your business in Dubai.
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