Over the past 50 years, UAE has gone through one of the most transformative phases in its history. The country has evolved from a simple desert region to being the economic hub of the Middle East, and Dubai has always been at the forefront of this transformation drive.
Since the formation of the federation, Dubai has taken leading efforts to step away from a primarily oil-based economy to embrace diversification and encourage both local and foreign entrepreneurship. Today, it is one of the most attractive investment destinations in the world and some of the biggest companies in the world have their centres of operations for the whole region, in Dubai.
This is directly due to the combination of its advantageous geographical position and the exceptional foresight on the part of the government in the form of visionary business-friendly economic and administrative policies, infrastructural support, limited bureaucracy and much more.
Below we explore a few of these factors that make Dubai one of the best places in the world to set up a business:
This is one of the major reasons to choose Dubai for a company setup. The city is known for its world class infrastructure with special economic zones and business complexes that offer modern customizable offices for budding businesses. This infrastructure is further supported by a highly stable social and economic framework that provides a conducive environment for dubai company formation.
Dubai is a highly planned city that is home to an extensive framework of well-built roads and the fully automated cutting-edge Dubai Metro. Being a global aviation and trade hub, it hosts one of the largest airports and airlines in the world, in addition to two massive ports – the Mina Rashid and the Jebel Ali – offering near-perfect trade and business connectivity to anywhere in the world.
Dubai is also armed with many specialized free-zones that offer tons of advantages specifically targeted at foreign investors and SMEs. These entrepreneurial benefits include 100% ownership, 100% repatriation of profits, easy company formation processes, exemption from import and export taxes and much more.
Talent and Work Force
Owing to its reputation as a roaring cosmopolitan city and the extremely high quality of life that it offers, Dubai attracts high quality labour from across the world. Businesses operating in the city can take advantage of this to build their human resources. Dubai also supports the input of new manpower with easy and favourable visa processing facilities.
To further ease the business formation process, Dubai has reduced the bureaucracy involved in the process down to the very minimum. In fact, the government has tons of economic and bureaucratic policies to actively support certain sectors and industries. Foreign businesses are often offered incentives that they might not enjoy anywhere else in the world.
Shopping and Travel Hub
Dubai is not just a business destination, but also a thriving tourist and travel destination that plays host to multiple electronics expos and shopping festivals that attract millions of customers from across the world every year. This regular access to high-spending customers can prove highly lucrative for businesses, especially those dealing in retail goods.
In addition to these, there several other reasons, big and small, why Dubai would be the perfect place to run a business. To learn more about the many other advantages that Dubai offers new businesses or for any help with your business setup process in the emirate, it would be smart to get in touch with a registered company formation agent.