Whether you are looking to expand your operations, completely relocate, or start something brand new, there are plenty of reasons why Dubai is the ideal business location.
To learn more, read on for the six advantages of opting to have your business set up in the Dubai mainland.
1. Welcoming to new businesses
As a founder, one of the best parts about opening your business in Dubai is that you will be joining a deep community of entrepreneurs and business owners. Dubai is known globally for being a locale open to new companies and foreign investors, which is why so many individuals dream of setting up a business here one day.
Of course, this doesn’t mean that every business is going to be successful in Dubai, but it does mean that you can expect to be welcomed into a business community that wants to see you succeed.
Plus, to get started, there is no requirement for minimum capital.
2. Located in a strategic position
One of the main reasons Dubai is so attractive to so many business owners and investors is because of the emirate’s strategic location. Due to its location, Dubai operates as a connection point between the West and the East and serves as a gateway to the continents of Asia and Africa. This location enables business owners and entrepreneurs to have easy access to two significant markets.
Moreover, Dubai uses a centralized time zone that works for operating hours in both the West and the East. The Emirate’s Gulf Standard Time (GST+4) significantly helps facilitate trading and business activities between different countries worldwide.
3. Low taxes and other incentives
Another significant benefit of choosing to set up a business in Dubai is that you can benefit from the low taxes that exist here. Apart from the oil and banking industries, businesses in Dubai do not have to pay any corporate taxes, which is (obviously) a huge incentive for a variety of business owners.
Moreover, Dubai residents don’t have to pay any personal income tax and have the ability to repatriate 100% of capital and profits. So no matter what type of business you are looking to start, or the size of your operations, this tax-free haven provides plenty of advantages in this regard.
Companies based in Dubai can also be highly competitive in the global market because the city doesn’t have foreign exchange controls, trade barriers, or quotas. In addition, the costs of energy, financing, and labor are much lower than in other locations around the world.
4. Easy availability of work visas and workers
Expats make up to 90% of the city’s labor force, and they can quickly enter and exit Dubai, which increases the flexibility that you as a business owner have. Companies can quickly and easily scale their workforce up and down depending on the present needs.
In addition, business owners and investors can enjoy the fact that Dubai has liberal labor laws and allows the easy recruitment of workers from all over the globe. This further increases your flexibility in terms of the employees that you want to bring into your company. Moreover, Dubai ensures that it is affordable for employers to recruit globally.
Plus, as Dubai is such a great city, most companies don’t find it too challenging to convince people to move there!
Of course, your workers do not have to be expats or recruited from other countries. The government has (and continues) to spend a significant amount of resources on educating and training the local Emirati population so that the people can also be employed in new and existing businesses.
5. Infrastructure is world-class
Dubai boasts some of the world’s best infrastructure, which is alluring for all types of business owners as it makes business and trading operations much more streamlined. Not to mention that it also enhances daily life! No wonder that the city has been dubbed the “City of the Future”.
From transport links to telecommunications, Dubai has been heavily investing in its infrastructure over the past few years, and it is certainly paying off. The government is committed to investing in and maintaining the city’s infrastructure, which is welcome news to anyone looking to start a company or invest in the city.
The state-of-the-art infrastructure is yet another demonstration of the government’s commitment to businesses as the infrastructure is designed to support small and growing organizations.
6. Low barriers to entry
Starting a business in Dubai doesn’t have to be a struggle, thanks to the low barriers to entry that exist. Rather than creating numerous hoops that potential business owners have to jump through, the city has made it relatively straightforward to register and set up a new company.
This is especially true if you opt to work with a company formation services provider that operates in Dubai. These experts will guide you through every stage of the process to ensure that your paperwork is correct and that you are providing all the necessary documentation.
By working with a team that specializes in company formation in Dubai, you can be assured that the process will go as quickly and smoothly as possible. In fact, you might be finished with it in just a couple of weeks! In addition, outsourcing the work is highly recommended so that you can spend your precious time working on the business, not all the paperwork.
Starting a company is an exciting prospect for any entrepreneur, and the benefits that Dubai offers make it one of the most sought-after locations for new or expanding companies.
The rapid economic growth that Dubai is experiencing demonstrates that this city will only grow in strength and importance when it comes to the global economy, making this the best time for you to enter the market.
Are you considering setting up a business in Dubai? If so, what do you think the advantages would be for your company? What are the drawbacks? If you have already set up a business there, what additional advice would you give to someone considering it?