According to the latest reports, Dubai is ranked in the top five global cities for entrepreneurs. The customer trust index in Dubai is higher than in cities like New York, London, Bangkok, Paris, Tokyo and Milan. The Consumer Trust Index is regarded as a credible predictor of consumer opinion regarding the economic condition. A place that provides convenient access to 1.5 billion people in three separate parts of the world. Company position with one of the biggest ports, serving 140 ports on 6 continents. A multicultural community with a cosmopolitan culture and a tax-free market climate. A town host to 42,000 millionaires with the lowest crime rate. One of the best communities in the country. What else someone needs in a business place. Dubai is giving you what you’re hoping. The area is fitted with world-class roads, vigorous transit, a skilled population and splendid urban facilities.
Reasons Why Dubai Should be Your Business Hub?
The fastest-growing business centre on the globe, Dubai, has turned itself from a desert city to a leading city with world-class business and lifestyle over a period of forty years. With fantastic future opportunities today, several firms and leading labels are opening their offices in Dubai. The top 9 explanations for your MENA (the Middle East and North Africa) company establishment in Dubai are:
Location
Designed with an outstanding approach, Dubai is a prime spot. Together, the broad coastline and the global aviation centre make it simpler to transport and link people from across the globe to come together in one location. Trouble-free travel lowers the expenses of emerging enterprises and provides far greater jobs. The UAE is one of the most well-known countries in the MENA region. Yet its position is one of its main advantages. Not only is the UAE within easy reach of all major business hubs in MENA, but also one-third of the world’s population is on a four-hour trip. Two thirds will be achieved within 8 hours. It’s hard to defeat.
Tax Benefits
It’s not about year-round sunshine that takes entrepreneurs to Dubai – the economic environment is just as favourable. A free market that is still available to international business and trade, it is only fair to name Dubai a business paradise. The presence of government laws and legislation is limited to start up a company in the free zone or mainland.
A variety of assistance is provided by the government to businesses seeking to set up a company in Dubai. In addition, companies working in the free zone have the legal privilege to have 100% international shareholders with minimal import duties. The UAE has a nil tax on all personal and business taxes. Outside of a few primary sectors, the only tax to be recognized in the Emirates is VAT – levied in January 2018 – which stands at a flat rate of 5%.
Profit-Oriented Destination
Dubai stands out in the Middle East exceeding its peers as it ranks 8th in the world amongst the top global commercial centres in The Global Financial Centers Index (GFCI) with the rating of 740, which is only 50 points less than the first rank based on parameters or 5 key areas:
- Business environment
- Financial sector development
- Infrastructure factors
- Human capital
- Reputation and general factors
New businesses searching for a growth base have one destination, Dubai, which has a reputation for fast and steady growth. In addition, Dubai retains its status as a globally renowned leader because of the following:
- A Superb transportation-system
- Low taxation for new companies and startups
- Commercial real estate various solutions
- Thriving on the oil-driven economy and non-oil investments offering a stable economy
- Solid Political landscape
Business Consultancy Support
Setting up a company in Dubai is as easy as getting copies of passports and selecting the correct name for your business in Dubai. In Dubai, investors could and would get maximum assistance for registration, licensing, legal processes and any set-up criteria from the Riz and Mona Consultancy team of professionals. In addition, an investor could have access to additional assets such as a Residential Visa, Bank Account Business aid, and a full suite of corporate incorporation and management.
Easy Company Setup
Setting up a business in Dubai is simple by design. You would be hard-pressed to find somewhere that is easier. There are just five simple steps of setting up a company here:
- Determine the type of legal entity
- Choose a trading name
- Apply for a business license
- Choose an office space
- Get pre-approvals, register your business and get your license
As well as 25+ free zones, you should set up on the island as well. Everyone has its own advantages, which ensures that there is a solution for any entrepreneur. There are a variety of industry-specific hubs where similar businesses are grouped. These include media, marketing, healthcare, finance, maritime, and education organisations – among many others.
As a result, the types of business incentives offered are tailored to each sector. These typically include:
- 100% foreign ownership,
- Long-term corporate tax exemptions,
- Full capital repatriation,
- Personal income tax and import-export tax exemptions,
- Quick incorporation with a single point of contact for administration
- human resources services
Room for Expansion
No matter how big your company is right now, you’re obviously aiming to expand. This implies that you need to keep choices open, and what might be the right choice now, particularly in terms of location and suppliers, may shift in the future. You need a position that allows you versatility. One that has strong connections to other countries and one that helps you to extend the product. For eg, you may be drawn by the simple set-up method and zero taxes provided by several free zones in Dubai – but you may want to do business directly with the mainland one day. Finding the best hub to enable this form of versatility would be a critical part of the decision-making process.
With the rising demand and industry, Dubai is rated as the most established and integrated business destination. Company establishment in Dubai also offers exposure to cosmopolitan lifestyles and the global labour force. Setting up a company in Dubai has a fantastic infrastructure and, since Dubai is geographically developed between the East and West economies, it has the potential to coexist which allows Dubai to link and grow business internationally.
Global Reputation
Dubai has demonstrated its ability to the world by being a global pioneer in market hubs. This world-class prestige that Dubai has gained over the past few years draws high-capacity workers and companies to Dubai. With increasing pace, Dubai has acquired a world-class reputation as a leading leisure destination competing with cities like New York and Paris. It is also a good choice to set up a company in Dubai.
Security
Dubai is a safe town. It’s a secure city without violence. This town is exempt from communal riots, violent protests, agitation. Luckily, there is no fear of terror in Dubai. While this is a strategic hot spot, but because of the alertness and smartness of the armed forces and the Dubai police, no one has ever dared to look at Dubai with poor intentions. The UAE is one of the best places to do business. The country was rated 5th in Asia-Pacific Security Criteria, according to the Pinkerton Danger Index survey (Pinkerton is the leading provider of risk management services). The study also reported even other optimistic facets of human protection in the UAE, such as the lowest per capita mortality in a natural catastrophe in the UAE. According to a study commissioned by Aon Hewitt, the multinational human resource firm, Dubai is one of the top 20 safest cities in the country. Dubai placed 19th in the world and ranked highest in the Middle East according to the criterion of the lowest risk cities.
Easy Availability of Manpower
Thanks to its lucrative wages and worldwide recognition, Dubai draws a significant number of professional employees from all over the world. The Government of Dubai is also making an attempt to turn current human resources into more productive and skilled workers by investing in large-scale training facilities. It often saves employers a huge sum of money on employee recruitment.
Riz and Mona Consultancy
If you’re trying to create an international business footprint for yourself or your customers, regardless of where you reside or your industry, whether you’re looking to be part of the MENA field, the UAE is a strong contender. In brief, the framework is in a position for everyone to effectively create a fully operating business organization within a short timeline and rapidly enjoy the benefits of a genuinely international setting. In a safe, prosperous, forward-thinking country.
Due to the distinct, but sometimes identical, sounding proposals presented by each region, it makes sense to work closely with a trustworthy incorporation agent who can support your company or your clients negotiate a variety of incentives.
