Dubai is one of the strategically located countries in the UAE. It can be easily accessed by around 1.5 billion people from three different continents Asia, Europe, and Africa. It also has one of the largest ports that connect 140 ports all over the world found in 6 continents. Dubai is a global city which is known for being cosmopolitan and being tax-free. That’s why it is known as a home for millionaires and it has the lowest crime rate. Aside from being one of the world’s safest cities, the sun shines in Dubai for 365 days every year. Apart from all these advantageous conditions in Dubai for starting a business, here are more reasons for investors to conduct a company setup in Dubai.
This gulf country is known to have a robust economy. It is even expected to get stronger due to the Expo 2020 which comes with a host of infrastructure projects and some changes to the Dubai visa rules and regulations. Dubai’s GDP is estimated to grow by 3.5 percent on 2019 from a forecast of 2.8 increase this year. Dubai is also a member of the OECD Organization for Economic Cooperation and Development. Being a member of OECD, Dubai is seen as a more attractive recipient of any foreign investment. On top of these is that it has a strategic location for trading and business being in the center of Asia, Africa, and Europe.
It is relatively flexible to invest in this country. First of all, there is low administrative burden when you do so. Investors will not have problems with accounting in this country. This is because it is not required for them to submit an audit of all their accounts every year. It is also an open country and investors can work anywhere they want.
Dubai enjoys a tax-free economy. When you become a resident, you are not required to pay for taxes on your salary or from your business profit.
Unlike other countries that require local ownership by a certain percentage in any investment, the gulf country offers 100 percent foreign ownership to any foreign investor. Only one shareholder is required in every investment as well.
World Class Banking Systems
Investors will find it convenient to invest in the country due to its world class level banking systems. It can easily handle transactions with offshore companies and offshore bank accounts of investors.
Dubai enjoys good weather the whole year and there is no fear of losing investments due to any disaster whether natural or manmade. The country is also advanced in its infrastructures which can help more in enhancing its economy.
Dubai and the UAE in general are considered best places in the country to set up a business. Whether you plan to acquire a second citizenship or simply incorporate your business and open a bank account in the country or anywhere in the UAE, HBS Dubai will be able to assist you professionally from step one towards the accomplishment of your goal.