UAE is the number one country in terms of economic growth in the Middle East region. In the UAE, Dubai is a city which is continuously gaining popularity as an international business centre. Let’s list out some important factors which make Dubai an attractive location to start a business for entrepreneurs all around the world.
Being near to Asia, Africa, as well as Europe, Dubai has become a favourite location to start a business. Dubai’s proximity to Asian giants like China and India makes it a strategic business location.
- Stable political and social atmosphere
Since the country’s inception in 1971, the UAE has shown political stability, which has accelerated the country’s development. Apart from that, Dubai has been widely viewed as one of the most secure, prosperous, vibrant, as well as inclusive cities in the world. Various studies have shown that Dubai is a city with a high quality of life index, revealing Dubai’s peaceful social atmosphere.
- Availability of free zones and lenient tax regulations
Though having some restrictions in business operations, Dubai gives the provision of 100% business ownership to foreign investors through regions called ‘Free Zones’. In Dubai, every company is tax- free, irrespective of being located in mainland or free zone.
- Growing economy and investment-friendly policies
Dubai is a leading city in economic growth in the entire Middle East. Today, Dubai has been diversified away from the Oil industry to areas like Tourism, Transportation, Logistics and Trade, making it a stable economy. To be added, Dubai’s Department of Economic Development (DED) churn out policies and provides every support to maintain a favourable atmosphere for local as well as foreign investments.
- Most modern Infrastructure
Be it road, port, or airport, Dubai’s transportation as well as telecommunication networks are considered to be among the best in the world. Dubai government puts more focus and invest heavily in infrastructure development, especially after finalising Dubai as the host city for World Expo 2020.
- Availability of quality human resources
Majority of Dubai’s population are expats from foreign countries. Being a growing economy with liberal labour rules, Dubai attracts numerous professionally qualified and expert human resources from other countries. Now, the UAE government has started to extensively train the local Emirati population to be skilled for employment.
- Strong legal system
Dubai was one among the first place in Emirates which allowed foreign ownership of properties and stocks. The UAE’s legal system is continuously updated with newer policies, regulations, and incentives to attract foreign investments. Being a member of various international establishments to protect intellectual property, UAE’s intellectual property laws are strong and compliant to international standards.
But, irrespective of all these advantages, UAE’s strict regulations make the process of setting up a business in Dubai a tedious procedure. So, it is always advisable to take help from an expert business set up partner who is equipped with thorough knowledge about the UAE’s legal and procedural regulations as well as the country’s culture, if you want to start your business in Dubai.