The UAE has one of the world’s largest and most diversified economies, mainly because it’s also a World Trade Organization member that plays a vital role in world trade and commerce. Many entrepreneurs and investors are excited about the potential of doing new business in Dubai. So, if you want to launch a business in the UAE’s financial capital, you should know these exciting facts:
1. The United Arab Emirates Has a Promising Future to Start a New Business in Dubai
It has one of the world’s fastest-growing populations, with over 80 percent being ex-pats. With its calm lifestyle, world-class facilities, and world-class tourism attractions, Dubai is a sensible relocation choice. There are millions of investments, and job opportunities like Expo 2020 Dubai are organized and held here.
Expats living in Dubai can also enjoy unsurpassed living standards and a 10 to 15 percent annual return on property investment. The UAE has set worldwide education standards from kindergarten to university. Dubai is home to notable educational institutions such as the University of Wollongong, the American University of Dubai, and Manipal. Overall, Dubai has a promising future.
2. Dubai’s Free Zones Have a Lot of Advantages
All UAE Free Zones offer 100 percent foreign ownership with no corporate tax for the next 50 years. Leading worldwide commodities firms like ENI, American Express, General Mills, Total, Viacom, and Petronas have operations in Malaysia’s Free Zones.
Free Zones include purpose-built infrastructure, networking opportunities, flexible office options, and simplified immigration procedures. Our business setup experts can provide customized business strategy counseling on the benefits of such foreign ownership in Free Zones.
3. Dubai’s Labor Market Is Massive
Dubai’s immigration and labor market rules have honed the city’s workforce availability today. Professionals from over 200 countries provide organizations with highly educated, experienced, and motivated workforce options.
The UAE is a wealthy country, making good talent quite expensive. Although the labor market is indeed massive, make sure to think about completing some market research before you hire personnel and start operations.
4. Dubai’s Favourable Currency Exchange Rate
The UAE currency is stable against various currencies, including the USD, with little movement since 1997. Exchange rates are advantageous with most Arab, African, Asian, and European countries. The currency has been stable for nearly two decades.
The AED’s purchasing power is stable and robust versus other currencies, allowing UAE businesses to gain leverage in worldwide trade. Moreover, the world-class banking industry gives you a competitive advantage.
5. Dubai Provides Incorporation Tax Incentives
The UAE government exempts personal income, withholding tax, and corporation tax. In other words, you keep all profits to reinvest in your firm. This allows investors to enjoy living and working in Dubai.
Minimal taxes and a simplified tax structure help start and run a business. A competitive business strategy and a good company structure can help you qualify for additional tax breaks. Savings on taxes can be invested in better business procedures and workflow efficiency.
6. Dubai’s Local Rules and Regulations Are Well-Versed in Business
The UAE has a solid legal structure, making it one of the most incredible places to do business in the world. It’s for both companies and foreign investors. Except in criminal law, foreign investor rules are entirely distinct from labour standards.
For example, did you know that you may complete business registration in Dubai in less than a month? With our help, you may secure company registration and license in other Emirates within 24 hours. Yes, starting a firm is simple, and the requirements are precise.
7. Choosing the Correct Structure Is Essential
The correct structure will determine your company’s success. A Limited Liability Company is one of Dubai’s most popular business setups. Forming a Free Zone company allows you to keep 100 percent foreign ownership in Free Zones like DMCC, Dubai South, Dubai Design District, Dubai Internet City, etc.
Choosing a Beneficial Strategy for Business
We have discussed exciting options, facts, and details in establishing a business in Dubai. With all the benefits that the country can offer, let us help you start a new life and business in Dubai so you can grow.
Vigor Business Center‘s consulting services can assist you better grasping the local market and how to build your business. We help you register a company in Dubai, open commercial and personal bank accounts, and help you, your family, and staff gets visas. Set up an appointment with our team of experts and consultants today!