Three decades back, Dubai was just a desert with a small population, and there was nothing extraordinary about it, but today, this sand city has transformed into something entirely new.
From world-class infrastructure to seven-star hotels, Dubai has so much to offer to its tourists and ex-pats. It has some of the tallest buildings globally, and its business park offers a lot of opportunities to business owners and entrepreneurs from all across the world.
Dubai has now become a global trading hub, which is why many entrepreneurs are so keen to do business there. In this article, I have mentioned a few reasons to help you understand why Dubai is an excellent place to start a business.
Let’s look at how to establish a business in Dubai:
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Great Location
One of the biggest advantages that Dubai has is its location. It is located between Asia, Europe, and Africa, making it an excellent location for international trading, logistics, import/export, event management, hospitality, and tourism-related businesses.
Dubai is located in the middle of the UAE, and not only it has direct access to the sea, but it also has one of the biggest airports in the world. This helps businesses in Dubai transport goods from both sides of the world, giving them access to a huge consumer market. You also would not have to worry about catching long flights to other destinations when you are in Dubai.
No Taxation
Another benefit of starting a business in the UAE is that it allows you to escape many taxes that you might have to pay in your country. If you are looking to start a new business and want to make more profits by avoiding taxes, the UAE is the right option.
Almost all kinds of businesses are exempted from taxes like personal income tax, value-added tax, corporate tax, withholding tax, etc. However, businesses related to hotels, international banks, or fuel companies will have to pay certain types of taxes. So, if you want to start a business in this city, then it is time you start looking into Dubai offshore banking.
Residency Visa
Once you have started your business in Dubai, you will be eligible to apply for a residency visa and freely live in the country. This doesn’t only apply to business owners, but it also extends to their families and their employees. Once you have got the UAE residency, you will be able to enjoy a lot more perks, like being able to open an account in a UAE bank or lease a new apartment.
You can also enter and exit the UAE multiple times without any trouble. Another great benefit of having a UAE residency visa is that it will make it easier for you to get a visa for other countries. You won’t have to worry much about visa rejection from Schengen areas if you have UAE residency.
Seaports and Airports
If you are planning to start a new import and export business, then there can be no better option than Dubai. The city has one of the biggest airports and seaports in the world, and it gives businessmen and entrepreneurs access to more markets.
Having such facilities within the city makes it easier for you to move shipments, and you are far less likely to face any sort of time delays. It does not matter from what part of the world you are importing or exporting goods; you will be able to do it conveniently via Jabal Ali Sea Port. Dubai is an excellent place for this business that requires plenty of traveling.
A Safe City
One of the major things that makes Dubai an excellent place for doing business is that it’s a pretty safe city. If you want to run a business in Dubai and plan to move there for some time, you would never have to worry about security and safety. In fact, Dubai is one of the safest cities in the world, as it ranks quite high on the Global Safety Index.
The crime rate is extremely low, and serious crimes like murder, physical assault, rape, and kidnapping are rare to none. Also, Dubai is considered one of the most politically stable countries in the Gulf, making it an excellent business place. You won’t have to worry much about market shifting due to political shifts.
Dubai Free Zones
If you want to set up an overseas business without partnering with a local agent or company and with full ownership, then Dubai is the place for you. In Dubai, there are designated areas that we refer to as free zones. The benefit of doing business in the Dubai freezone is that you can do tax-free business without involving a third party in it.
However, there are different free zone for different industries, and you will have to set the shop accordingly. For example, if you are going to do a business in the education sector, you can start your business in Dubai Knowledge Village to avoid taxes and extra expenses.
Infrastructure
The infrastructure Dubai offers is remarkable, and if you are planning to do business there, you would never have to worry about finding a nice place for your business center office space in Dubai. New commercial facilities, buildings, and roads are being developed consistently, and everything is ready to move in.
Apart from its seaports and airports, Dubai also has a great public transport infrastructure, and getting from one point to another is quite convenient. UAE is ranked second in the quality of roads, third in air transportation, and fifth in seaport quality. According to WEF, the UAE has one of the best infrastructures in the entire world.
Living Standards
Dubai is a place where you can do business and can enjoy a high-quality life of life. The living standards you can enjoy in the UAE are second to none in the MEA region and are ranked 15th globally. According to the UN, the United Arab Emirates is the 14th happiest nation globally, which makes it an ideal place to live in.
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