Dubai needs no introduction when one looks for the top destination for business setup for the expats. The city has worked hard to be the top choice for businesses all over the world. It has come a long way in the past decades. The diversely talented population is a major cause of the highly grossing GDP of the region.
Dubai, in today’s time, has taken on the role of representing both luxury and global commerce. In addition, the city has drawn the attention of global trade and investment due to the fact that it offers many benefits to those who are starting a business there. The Dubai government has been very welcoming for a wide variety of international corporate operations with its business friendly strategies. If you are thinking of Business setup in Dubai, it can be achieved in a more fruitful way when you have a good and experienced business setup consultant in Dubai.
What are the highlights of the emirate of Dubai?
Skyscrapers, ports, beaches, world-class infrastructure are all part of the world’s top business destination. It has a significant expatriate population and the temperatures are generally pleasant.
Dubai has also been one of the places that attract a large number of people for tourism and is also the hub of investment and business worldwide.
Here’s the major factors that make Dubai one of the most preferred places for working and living-
- Top-notch infrastructure
It is well known that Dubai has the best quality infrastructure in the world. With tall skyscrapers touching the sky, lavish malls, shopping destinations, parks, resorts, hotels etc. the place has everything for a good office set up. The infrastructure of the place is one of the main reasons why it is preferred for business set up by locals and expats all over the world.
- Safety and security
Dubai is a very safe and sound city with the least crime rate. The government is always vigilant on the activities all around the city and there is nothing to be worried about. The lower crime rate makes the quality of living better and makes this place ideal for business set up and staying.
- Pleasant weather
The weather in Dubai is pleasant except for the summers when the temperatures might go high and can be overwhelming. During the winters, and the rainy season you can enjoy beautiful weather all around the Emirates.
- Diverse population
The best part about Dubai is the diverse population that it has. The population consists mainly of residents and expats from all over the world. This is a unique and amazing fact about the place that makes it one of the best places to set up a business at. The diverse population is the reason why many businesses flourish here. They offer a wide range of options to the entrepreneurs to choose their business activities from.
- Exceptional standard of life
One cannot miss the extraordinary standard of life in Dubai. The expats can lead an amazing lifestyle, balancing both personal and professional life. Apart from this, the health care and education facilities are simply great. Global rankings that make Dubai the top choice for business startups includes being ranked 5th in the list of Best Cities- 2021,it is the 1st in the Arab world and 3rd globally in FDI attraction, It is the 3rd best city for expats according to the InterNations Expat city Ranking 2021, 4th in the best destinations for international travellers,14th in the Global power city index 2021 and ranked number 1 in Arab world Dubai innovation Index.
Contrary to popular beliefs, the major portion of Dubai’s economy does not come from the oil & gas industry but many sectors combined. Oil & gas contributes merely 2% of the economy.
Why is Dubai the business hub in the world for expats?
Dubai is the hub for investment and business. This grants access to a market with exceptional potential for expats and foreign businesses. You can witness a major increase in foreign companies wanting to set up shop in Dubai. Many expats are growing their businesses and choose the UAE as their preferred location for business setup.
Take a look at the factors mentioned below to know why dubai is one of the most preferred location for business setup-
- Ease of doing business
The advancement of technology and top notch infrastructure has made doing business in Dubai extremely easy compared to other places worldwide.
- Lower tax regime
The taxes in the Emirate are lower compared to those worldwide. These tax rates are set according to the income. There are also various exemptions to the taxes.
- Excellent government support
The government of Dubai works tirelessly to provide people with the best opportunities to get their business started in Dubai. The government friendly policies and set ups help the entrepreneurs to get started here.
- Strategic location
Dubai is strategically situated for both international trade and business, making it the ideal residence for both international entrepreneurs and businesses expanding internationally. Dubai is a hub for easy trade with three continents as a result, maximising reach for enterprises.
- New initiatives for visa
The Dubai administration has always been proactive for the expats and this has led to new visa initiatives. Launch of retirement Visa, 10-year golden visa, 5-years residency visa for entrepreneurs, 100% foreign ownership is allowed for free zones, mainland companies and the launch of virtual working programs have been some of the best initiatives by the government. These initiatives add to the other reasons for preferring the location for business set up here. The visa validity of the nation is also good for people.
- Capital Repatriation
The entire profit earned from business in Dubai or any other emirate of the United Arab Emirates can be repatriated fully to your native country. This can be done without any restrictions.
- 100% ownership as an expat
You can now have 100% ownership in Dubai mainland or free zone as an expat. It was earlier necessary to get a sponsor for your mainland company in Dubai. However, this condition was waived off recently, allowing expats to own 100% of their mainland company.
- Trade activity options
There are different options to choose your trade activity from. This is due to the diverse population that leads to an appreciation of all types of businesses.
How has FDI attractions been a major part of the economy?
Today, more than 70% of gigantic 500 firms and new economy entrepreneurs equally prefer to invest their foreign direct investment in Dubai. As the emirate’s economy continues to recover from the coronavirus pandemic, Dubai secured the top spot worldwide for luring foreign direct investment (FDI) projects in 2021 and was ranked second for luring corporate headquarters. According to the government, Dubai attracted a record number of 418 greenfield FDI projects in 2021, placing it first in the world for FDI attraction.
What is the cost of doing business in Dubai?
Business setup in Dubai freezone or mainland is one of the most preferred options for your business setup in Dubai. Knowing the cost of your business set up we can help you get the right funds and other services. Enter your details in the RadiantBiz cost calculator and get the estimate of your business setup in Dubai.
How can RadiantBiz help?
We at RadiantBiz are determined to help you realise your dreams and fulfil them all. Our experts help come up with strategies to set up your business in the best way possible. Contact our business set up experts today to get started.