Why You Should Start Your Business in Dubai

It has taken Dubai a long time to develop into the prosperous, aspirational, and dynamic economy it is today. Investing in the United Arab Emirates is a great way to get your business off the ground. The Middle East is simpler to do business in than Dubai, which is ranked 16 internationally in the World Bank’s Easy to Do Business according to the 2020 report.

The UAE has become a major global trading hub with its diverse economic sectors, such as business, trade, export, logistics, tourism, hospitality, event management, financial services, construction, and more. There are numerous reasons why many business people favor or want to do business in the UAE.

Dubai Is a Growing Business Hub

Businesses frequently flourish in an area where other companies have already successfully laid their foundations. Since it’s near Europe, Asia, and Africa, Dubai is a great location for doing many business activities, including international trading, import, export, logistics, tourism, hospitality, and event management. Due to its proximity to the sea and one of the world’s largest airports, Dubai makes it easier to transport commodities. Because of this, most business owners who wonder if starting a business in Dubai is tough will be amazed to know it isn’t.

It is Tax-Free

In comparison to many other nations throughout the world, tax regulations in the UAE are quite lax. As Dubai develops into a fiercely competitive global business hub, it attracts both new and established companies searching for a tax-free zone to build their operations. The region’s most open and diverse economies are generally seen as being those of the United Arab Emirates.

Dubai has a no taxation policy that applies to practically all economic activity. Dubai residents benefit from tax-free income because both personal income and profits are not subject to tax. Nobody enjoys giving away even a modest portion of their hard-earned cash. Moreover, if you’re wondering how to open a bank account in Dubai, trust us, it’s pretty straightforward. That is one of the main reasons why you should consider Dubai to start your business. In fact, you can take the help of any CFO services Dubai has to take care of your taxation needs.

A Stable Government and Economy

Dubai provides a stable administration that fosters economic growth. The abundance of both large and small businesses also encourages healthy rivalry in Dubai’s commercial environment. Competition spurs innovation among companies, which pushes them to pursue greater profitability and profits.

Possibilities for Expanding Business

Dubai has already begun bolstering its infrastructure program for smart cities, which will expand the chance for newer firms to participate. In Dubai, there are many zones where businesses can be established, including the free trade zone. With more room to quickly adapt, develop, and diversify, thanks to company registration in Dubai, your firm can reach new heights.

A mainland company structure will be more advantageous if you intend to introduce new goods or services, enter new markets, or carry out new business operations. With a Dubai company registration, you have the freedom to grow your company by adding branches, hiring more people, etc., in other areas of Dubai and the UAE. Similarly, if you outsource your Accounting and bookkeeping services to some professional firms, you can enjoy peace of mind.

Infrastructure

The social, economic, and transportation infrastructure in Dubai is incredibly well-developed. But this doesn’t mean it’s limited to high-end office and residential space. The Emirate also offers reliable transportation and an advanced financial and service sector, making it ideal for establishing your business setup in Dubai.

As we already know, a company’s growth frequently hinges on the availability of sound infrastructure that can support growth. Dubai is renowned for its skyscrapers, magnificent architecture, and striking structures. There are also robust civic amenities, well-kept roads, and an effective public transportation system.

Before We Part!

Dubai has evolved into one of the most sought-after locations for conducting business, working, and residing for a variety of other reasons. Nearly 90% of the population in Dubai is made up of immigrants from more than 200 different nations. The Emirate’s economic and investment potential draw foreigners, among other things.

Why is Dubai Investor’s Paradise

It is no surprise that Dubai is a magnet for investors as it offers a rich blend of urban life and traditional elements of Middle Eastern culture. This city offers a diverse talent pool, well-developed public transportation, and many investment opportunities. A number of factors make it a popular investment and professional destination. Additionally, the UAE’s new visa offers and changes to owning businesses have served as the icing on the cake. So, foreign workers will stay longer, and more new investors will enter the waters.

Not to mention, it is one of the top vacation spots for businesspeople and investors because of these and other factors. If you’re also one of those business owners who are interested in starting a business in Dubai, then now’s the perfect time to do so.

The following are some reasons why Dubai is regarded as a paradise for investors.

Duabai a Government Backed Global City

What makes Dubai so appealing is the way it is administered. The city’s proactive leaders and the UAE government have made sure that investors continue to find it attractive. The government has given the economy a lot of energy by making significant reforms to the regulations governing visas and corporate ownership. Dubai now permits corporate licenses at 100 percent without the requirement of a local partner. Those seeking residency in the UAE have been drawn to the Golden Visa program like a moth to a flame.

With these adjustments, the new business setup in Dubai has become a breeze. And with this, Dubai has reopened its doors to the outside world while ensuring its residents’ and employees’ health and safety.

Investor Paradise

Dubai offers rental yields between 6 and 10%, which is unheard of in many developed markets. In comparison to the majority of other cosmopolitan cities like Mumbai, Shanghai, London, Singapore, and Monaco, 1 million USD can purchase a lot more real estate property in Dubai.

The Dubai real estate market is also very tightly controlled. An authority that strictly enforces real estate regulation protects investors and holds developers accountable. Right now, the market is much more transparent and compliance-focused.

No Annual Taxes

Dubai is the finest place to invest because there are no capital gains or property taxes there. Following the initial purchase of a property, owners only have to pay the one-time real estate transaction charge. Moreover, business owners can also take leverage from this by hiring reputable accounting and auditing companies in Dubai.

Financial Rewards

The fifth-best performing economy in the world is Dubai. The administration is committed to enhancing the business climate and fostering long-term growth in order to make the Emirate competitive on a global scale. Property investors in Dubai benefit from customizable payment schedules that are adapted to their financial circumstances. Investors favor Dubai because it is gradually becoming a reliable investment option with simple departure and, in many cases, a guaranteed 10-year visa.

Strong Infrastructure

Due to investors’ unwavering faith in Dubai and its promised infrastructure development, the real estate market in Dubai is poised to begin a brilliant comeback at the beginning of 2021. The excellent infrastructure of Dubai is one of its critical assets, according to the administration. One such place with excellent infrastructure and a high standard of living that keeps improving in Dubai. Dubai International Airport claims to be among the world’s busiest airports in terms of passenger flow. Jebel Ali Port is the biggest artificial port in the world when it comes to seaports. Any astute investor would be able to decide to invest in Dubai after considering these factors.

Business Hub of Middle East

A gateway to the Middle East, the Indian Subcontinent, and Central Asia, Dubai is a veritable center of global trade. Dubai, which is home to one-third of Fortune’s Top 500 Companies, draws business professionals from all over the world. Dubai also merits inclusion in the Top 20 Cities list of the 2022 Global Power Index.

Final Words!

These are a few reasons why you should invest in Dubai. Some of the most potent ones we’ve already mentioned above. However, if you’re looking for a place where your capital will be in safe hands, then look no further than Dubai.

10 Benefits of Business Setup in a Dubai Free Zone

We are all aware that setting up a business in Dubai can give you a brilliant opportunity to flourish and experience tremendous growth, thanks to its strategic geographic location. Another main reason for Dubai to become an exceptional business start-up city is Free Trade Zones/Free Zones (more than 30) which is home to approx. 150,000 companies.

From ensuring 100% ownership to top-tier administration, exempting income tax to providing excellent infrastructure, low cost of setting up a company in Dubai free zone, and easy Dubai free zone visa requirements – this is a fertile ground equipped with unmatched facilities.

Multiple companies from different niches can invest, including Free Zone or Sole Establishment, Free Zone Company (Limited Liability Company with two or more shareholders), and Branch or representative office of the present or parent company (registered in the UAE or foreign).

Why Set Up Business in Dubai Free Zones? | 10 Key Benefits

Are you searching for an ideal place with a beneficial prospect?

Look for the free zones, as these areas are particularly designed for the sake of enhancing international business at a very low start-up and operational cost. Although your business activities depend on the license you obtain from the government (commercial, general trading, industrial, and service). Being a Dubai tax-free zone, these areas highly support entrepreneurial ventures.

1. Full Ownership

To settle your business in Dubai’s mainland jurisdiction, you need a UAE National (local) sponsor who must possess a minimum of 51% company shares. It will give him the ownership and more control to take professional decisions, making you lose your power with the remaining 49%.

Foreign investors, irrespective of nationality, can get their company 100% ownership and full authority by setting up a business in free zone Dubai. No UAE national sponsor is needed, and no requirement to give maximum shares to someone else for company formation!

2. No Currency Regulations

Restrictions on foreign currencies (regulated by the UAE government) must be followed by companies settled within the mainland. On the contrary, UAE free zone doesn’t implement currency restrictions to support seamless, quick, and stress-free financial transactions. Being a foreign professional businessman, you have the free will to use any currency.

3. Exemption of Import/Export Duties

Dubai’s free zone jurisdictions are cleared from all Import and Export duties to maintain international trade. It helps companies save their wealth and grow exponentially. This benefit makes it easier for the government to promote foreign relations with various countries.

4. 100% Return on Capital & Profits

Dubai free zone business setups can enjoy the benefit of full repatriation, including profits as well as financial assets. In short, the investor holds the authority to transfer all profits earned through business and capital invested in the company to his home country.

5. Readily Available Workspaces

You can find well-structured warehouses and innovatively constructed office spaces effortlessly in free zone jurisdictions that provide you with multiple amenities. You can either purchase or lease. They can also be rented. Luckily, you get 25 years of lease options. Storerooms are available in different sizes at different prices alongside modern and fully equipped workspaces.

You will surely find something savvy matching your available budget.

6. Independent Regulatory Authorities

Dubai free trade zones are not run by the UAE government but are only overseen by their respective free zone regulatory bodies. They are responsible for setting rules and regulations. No company is answerable to the official government, which gives foreign investors flexibility and more freedom. It makes free zone company registration in Dubai extremely easy.

7. 100% Tax Exclusion

Another fantastic benefit attracting investors the most is the total income tax and corporate tax exemption. 100% tax omission lets you keep the maximum of your business profits. Exemption from corporate tax in Dubai free zone lasts for 15 years but comes with a renewal option that prolongs the period for another 15 years.

It is applicable on personal and corporate gains, customs taxes, and imported products wholesaled to the mainland, except VAT which is comparatively low.

8. Cost-Saving & Easy Recruitment

Do you want to save time, effort, and resources while hiring labor? The free zone allows you to recruit a low-priced workforce efficiently without going through time-consuming formalities. You can even employ foreign nationals in a very pocket-friendly way by following easy recruitment procedures.

9. Brilliant Communication & Impeccable Infrastructure

You will get exceptional internet/connectivity networks, the most advanced communication systems, and flawless and efficient construction that offers budget-saving and plentiful energy. The zones provide first-rate transportation by air, sea, and land.

The best part is their locations offer easy and quick access to well-known airports and seaports for accessible business. To avail of more facilities, rent your ideal workspace.

10. Fast Company Incorporation and Easy Immigration Process

The company incorporation process in free zones in Dubai is made extremely simple and straightforward, which may be accomplished within a minimum of days.

Completing the immigration process can be really challenging, but Dubai-free zones offer time-saving immigration facilities. Their simple and easy procedures are completed in a matter of time, saving your efforts.

Business Setup in Dubai Free Zone Areas

Profits Plus understands how tedious setting up a business in the UAE can get. That is why Profits Consultants are helping you find the ideal solution to protect your assets and grow your business.

Whether you need to start a company in Dubai or within one of the UAE Free zones, our experts can guide you by providing a top-level service. Establish your business in Dubai today with our professional assistance!