The pandemic might have knocked out thousands of businesses in Dubai, but the emirate’s economy is still flourishing. As Dubai re-opens its economy, the government also launched incentive packages to help businesses thrive amid pandemic. That’s why it’s beneficial to take advantage of this opportunity to have a company setup in Dubai. Here are the stunning benefits you’ll get from doing business in Dubai.
Stunning Benefits of Having Company Setup in Dubai
Dubai Has a Vibrant and Growing Economy
One of the main reasons why you should consider having a company setup in Dubai is the economy. Dubai has one of the most vibrant economies in the world. Despite the on-going pandemic, it’s set to bounce back progressively once a vaccine has been made.
Aside from that, Dubai has been successful in diversifying its economy away from oil. The emirate's strategic location paved the way for sectors like trade and logistics, transportation, and tourism to flourish. Today, these sectors comprise more than 60% of Dubai’s GDP.
Dubai leaders have amazing foresight and vision for the emirate's prosperity. This makes them one of the most successful and progressive cities in the world. Dubai aims to become the center of business and trade in the world. So having a company setup in Dubai is appealing to most foreign investors. Furthermore, Dubai’s location gives you convenient access to African, Asian, and European markets.
Favorable Investment Place with Full Government Support
Dubai's Department of Economic Development (DED) is responsible for overseeing the emirate's economic agenda. This agency is active in providing all the support needed by foreign and local investors. This is to ensure all of their efforts will drive in boosting Dubai's economy. The government's immense support makes it suitable to have a company setup in Dubai.
One way of having a company setup in Dubai is through a free zone company. Dubai has more than 20 free zone areas that can accommodate business and industrial clusters. This gives foreign investors complete ownership of their business and investments. They can also take advantage of capital and profit repatriation.
Like in any other emirate, Dubai is a tax haven for foreign investors. Whether you’re planning to have free zone or mainland company setup in Dubai, they all enjoy the income and corporate tax exemptions. Dubai’s tax regimen makes it a great place for foreign investors to make investments.
Dubai’s Legal System
The Dubai government has ongoing revisions of existing investment rules, regulations, and incentives for foreign investors. This is to ensure foreign investors will have ease of doing business in Dubai. The revisions also intend to attract more foreign investments in the emirate. Dubai is among the first emirates to allow foreigners ownership of stocks and properties.
Dubai is also a member of several international organizations to protect your intellectual property. This includes the Paris Convention, Patent Cooperation Treaty (PCT), World Intellectual Property Organization (WIPO), World Trade Organization (WTO), WIPO Copyright Treaty, Rome Convention, and WIPO Performances and Phonograms Treaty (WPPT).
Dubai also boasts about its innovative infrastructures that makes living in the emirate a breeze. This includes multiple road networks, ports, airports, and telecommunication. Furthermore, Dubai has announced to construct an underground railway system in preparation for Dubai Expo 2020 next year.
Human Resource Support
You also won’t have to worry about finding human resources when moving into Dubai. Another reason why it’s suitable to have company setup in Dubai is the easy access to an international pool of professionals. Thousands of foreigners move to Dubai for work. This gives you an access to talented and competitive employees you can hire for your company.
Contact our professional agents now to have a company setup in Dubai!