Dubai is one of the most popular tourist destinations across the globe. It is known for its rich and luxurious city life. There is no doubt in the fact that anyone would gladly want to live in this popular city but what if we told you that it is one of the best places around the globe to start a business?
You shouldn’t be surprised to hear that Dubai is the best place for business setup in the UAE. Dubai has transitioned over the years and has become a mega city that accommodates business parks, seven-star hotels, the world’s tallest buildings, a palm-shaped man-made island and the best infrastructure across the globe.
Why is Dubai the best place to start a business?
Dubai offers great advantages to businessmen because of this it has become a popular and a desired place for starting a business. Obviously, if a place has become a favorite among businessmen then it would be offering some great benefits to business owners.
The reasons why Dubai is preferred by business owners are not covered by any other city in the world. These are:
- Taxation
The number one benefit that any business startup gets in Dubai is non-existent taxes. Dubai is an extremely business friendly city due to the wide variety of non-existent taxes such as VAT, Capital gains, and personal as well as corporate taxes. This gives entrepreneurs a great advantage that they might not be able to achieve in any other city.
- Visa
Another great advantage of doing business in Dubai is the expat friendly visa regime. This means that business owners in Dubai can easily get a UAE residency visa. A residency visa in the UAE would let you enjoy other perks such as leasing a property, getting a Schengen visa easily and moving out or into the country very easily.
- Free Zones
Dubai has Free Zoes which make perfect places to have a business setup in Dubai as they are tax free areas where any expat can own a company without the need of partnering with an agent who is Emirati.
There are different kinds of free zones like education, media, industrial, healthcare etc.
- Repatriation
Dubai offers a stable USD exchange rate which lets most expats send the money out of the country easily. Although the non-existent taxation policy in Dubai lets expats keep their money in the city.
- Global Aviation hub
The biggest advantage for business startups in Dubai is the Dubai Airport Free Zone which links one of the biggest continents which are Asia and Africa with the west. Dubai is the Global Aviation hub which brings together people from different countries and continents of the world to bring various opportunities for each other.
- Safety
Safety is one of the biggest reasons why entrepreneurs prefer to start a business in dubai. The city has a strong law and order system which makes it safe for your business as well as your employees and family to have a living.
The safety perspective is what drives so many talented workers to settle in this city while leaving their cities and countries behind.
- Venues
Dubai is a great place to have a business setup as there are so many venues where you can host your conferences and meetings. A suitable venue for a business meeting matters a lot when you are finalizing big deals which are just right when you are in Dubai.
The city has great venues for business meetings which makes it a favorite among entrepreneurs.
- Transport
A big problem in most of the countries and cities around the world is transportation. Unlike other countries, Dubai has a high-quality road transport network which is an additional benefit for businessmen.
It is one of the reasons entrepreneurs choose Dubai for starting their businesses. It has the famous Dubai Metro which lets you reach anywhere at any time of the day without going through any hassle.
- Experiences
Apart from the other benefits that the city offers business owners, Dubai offers great experiences which would not let anyone have a dull life. These include desert safaris, skydiving, waterparks, dhow cruises etc.
How to start a business in Dubai?
Dubai has a lot of incentives to offer business owners such as hubs, incubators and programs which assist in business growth. The government of Dubai has given many incentives to anyone who wants to start a business in Dubai. The process is very easy but has to be followed properly by an investor.
You must select a business activity which is allowed by the Department of Economic Development of Dubai. Once it is approved, he needs to decide whether they want to start the business in the mainland or the Free Zone. Both have their own perks and disadvantages.
Once the location is decided, the entrepreneur must decide on a company name vehicle making sure it is decided based on the Islamic conventions. They can then apply for a Business license and apply for an investor visa.
The process for obtaining a business license is not very complicated. The department goes through some background checks and checks whether the entrepreneur is eligible for the license. Once you get your business license, you can apply easily for an investor visa.
Conclusion
A city that has a thriving job market, an abundance of amenities and opportunities and a high standard of living makes a great place to start a business. That city is Dubai. Entrepreneurs all around the world are seeking opportunities to start a business in Dubai because of the numerous advantages and perks they get here which they do not get in any city of the world.
With safety and security measures, access to education, numerous job opportunities, a thriving business environment, cultural diversity and multiple advantages for company owners, Dubai has it all. If you are seeking a location to have a business setup, then you must choose Dubai as your destination.
