Setting up a business is synonymous with a lot of hard work and unending hours of committed effort. Passionate entrepreneurs around the world have proved time and again that this mantra can do wonders. But it all starts with the formalities required to set up a business in the first place. Various countries, states, cities and jurisdictions have different legal and regulatory requirements for starting a business. One of the fastest growing among these is the United Arab Emirates, with Dubai leading the pack. The single-most important factor responsible for this explosive growth is the exceedingly investor friendly and favourable laws and policies that govern the set-up of new businesses here.
Thus, advantages of setting up a business in Dubai are manifold. At the same time, it is advisable to get fully acquainted with the facts and procedures to avoid any issues or delays. Some of the most important aspects to pay attention to and their advantages include the following:
- Dubai offers the advantage of 100% business ownership, though this option is available in the Free Zones which are aplenty in Dubai. There are various free zones to cater to the different industries.
- In case of a non-free zone location, one must have a UAE national as a local partner that gives the freedom for having a location anywhere in Dubai
- Another factor that makes Dubai advantageous is the fact that locations are available for every budget. Moreover, there are locations specific to particular types of industries and related products and services are thriving that help optimises cost and convenience.
- The visa application process is also investor friendly with Dubai having a very positive view towards foreign investment
- Dubai is a tax-free haven that allows all businesses to operate and is thus especially suitable for most emerging businesses
- One must also make sure that one leverages on the information provided through the business consultants who are experts in the process of setting up a business in Dubai, and what’s more, there are innumerable business advisory firms to help you get started.
- Dubai offers a myriad range of industries that are booming and can fetch handsome profits for businesses, including the oil and gas sector, construction sector, tourism (a very big ticket draw thanks to Dubai gaining more and more popularity as a global tourist destination), manufacturing, financial services, healthcare, food and beverages, energy, environment etc.
- Dubai is a haven for manufacturing and export segments and especially where the land is acquired in order to build a manufacturing facility. This is highly advantageous as it means attractive exemptions from duties (both import and export), taxes, land tax, license fees of property and buildings etc.
- One of the most important aspects is the geographical location of Dubai itself- A staggering consumer base of 2.2 billion that is spread across the east and west of Dubai, with Dubai being the most ideally located to combine the two
Hence, Dubai is by far one of the most sought after business destinations and every serious entrepreneur must give it a look during the decision-making process of selecting a base for establishing their business.