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Why is Dubai the Best Place to Live and Start a Business
Dubai is one of the world’s main business hubs growing very fast both in terms of economy and business operation regulations and infrastructure. But what are the best factors that make Dubai one of the best places to live and start a business for foreign entrepreneurs?
The UAE government and the Department of Economic Development (DED) are striving to attract more foreign investors. They are setting rules and regulations that best benefit foreign entrepreneurs and have dedicated development infrastructure for expats willing to expand their business in Dubai. The vibrant business environment also provides entrepreneurs with plenty of business opportunities. Also, as an open trade hub, businessmen have the opportunity to cooperate with international corporations and expand their business opportunities. Due to such an open and dynamic business environment, Dubai is always up with the latest trends and development.
2.The stable and thriving economy
The dynamic economic structure and secured stability of the UAE’s economy ensure foreign entrepreneurs invest in a clean and thriving business environment.
3.Business laws and regulations
The hassle-free business set up and operation and 100% business ownership in Dubai free zone is the most attractive business laws for foreign investors.
4.Skilled and diverse human resources
Dubai attracts a good variety of skilled workforce from all around the globe every year. With the zero income tax policy, Dubai is ideal for foreigners to secure a job and a high living standard.
5.Supportive and affordable business set up programs.
The government and DED offer cost-effective and affordable business set up programs for foreign investors to secure their success and business growth in Dubai. The VAT is fixed at the minimum amount of 5%, and the corporation, capital gain, and personal income taxes are zero for almost all business activities. There are also no exchange controls in place. Imports and exports in free zones are also subject to zero tax.
6.Various business set up options.
Dubai consists of two areas for conducting business, i) Dubai Mainland and ii) Dubai free zone. Based on the business’s nature, there are advantages and disadvantages to setting up a business in one of these regions. For example, 100% business ownership is possible in the free zone, while in Dubai Mainland, working with a local partner owning 51% of the corporation’s shares is mandatory.
Dubai enjoys an advanced infrastructure such as modern railways and roads. Its advantageous natural environment includes various seaports and strategic location connecting Asian and African countries to European countries for businessmen who have to travel often. The international airports of Dubai are world-famous for handling more than 3,000 passengers every day and offering flights to almost all corners of the world.
8.Easy business set up.
One of the main advantages of setting up a business in Dubai is the straightforward and fast process of registering a company or various types of businesses. The whole procedure is almost online, and there is no physical presence requirement.