Considering business setup in Dubai has many benefits. The city is a world-class trading hub and is a multicultural hub. There are many incentives available to foreign investors, including favorable tax treatment. There are also many easy ways to get started in the city. Let’s explore some of the key benefits of setting up a business in Dubai. In addition to its many benefits, you’ll be pleasantly surprised by how easy it is to get started in Dubai.
Dubai is a multicultural city:
Among the many benefits of setting up a business in Dubai, the government offers top-notch facilities and incentives to foreign investors. In addition, the government is continually amending its business rules and organizing international events so that you can take advantage of their many initiatives to increase your business. There are also fixed rules for business that are easy to follow, making Dubai a highly attractive location for business entrepreneurs.
It is a world-class trading hub:
With the UAE’s investment in building an innovative trading ecosystem and innovation sandbox, the city provides a favorable environment for financial firms to invest in. Authorities are taking proactive steps to promote Dubai as a world-class trading hub. A new Dubai Trader’s Market was announced earlier this year, spanning 20 million square feet and located opposite Expo Dubai. The market will allow for 100 percent foreign ownership and repatriation of capital without restrictions on worker numbers. The new Trader’s Market will house showrooms, warehouses, offices, and hotels.
It offers tax concessions to foreign investors:
The UAE is a financially attractive location, boasting an economic climate that supports a diversified portfolio and an FDI growth of 8% in 2017. The country also offers a zero-tax regime for most businesses, although the corporate tax rate will be 9% when the new law is implemented in June 2023. The UAE’s business-friendly environment is ideal for structuring companies and entering new markets.
It has a diversified economy:
With a diversified economy, UAE businesses are well-positioned to benefit from the UAE’s low inflation and low debt. The country enjoys good trading relations with other countries, providing a large supply of raw materials. Its government has invested heavily in infrastructure and set high standards for transportation and utilities such as roads and railway systems. Business centers are well-established, and internet speeds are high.