How Your Business Will Benefit From Dubai’s Business Ecosystem
The name ‘Dubai’ has various meanings to different people. To some, Dubai is only a location in the United Arab Emirates. To others, it is the best place to shop for quality clothes and fashion items. Another category of people that view Dubai as a tourist destination also exists. Dubai is all of these things and more – an elite business hub. The Dubai economy has seen steady growth over the years and this has helped small businesses to grow. In this article, we’ll take a look at the various benefits for businesses that are set up in the most popular city in the Middle East.
Dubai – A Global Trade Hub
Dubai has grown over the past few decades from a desertland to a global destination for trade. Since the discovery of crude oil in the UAE, the country has become one of the largest exporters of crude oil in the world. Dubai began to diversify into other sources of revenue generation. Now, it generates a chunk of its revenue from other sectors like banking, tourism, retail, and foreign investments.
Read: Perks of owning a UAE Business Bank Account
Dubai is located in the middle of the Eastern and Western parts of the world. This makes it an ideal location for international trade. To support its geographical location, the city also has great infrastructures and the Emirati government has implemented policies that favor businesses. These factors, with the low cost of operation in the city, have attracted investors from all over the world. Currently, over 85 percent of the Dubai population are foreigners.
Business Benefits From Dubai’s Ecosystem
Dubai has the technology, infrastructure, trade policies, government stability, amongst other factors that favor business prosperity. If you are looking for a place to establish or expand your business, while reaching a global audience, Dubai is just the perfect location. Here are some of the benefits that businesses enjoy from being in the Dubai ecosystem.
- Increased Profit Margins: The Dubai business ecosystem is specifically positioned and structured such that any business within the area will make profits. This arises first from the fact that it lies centrally to the eastern and western regions of the world. This strategic position promotes international trade and investors from different parts of the world use Dubai as a point of convergence. Dubai is a major commercial center of the modern world. The city’s economy is constantly evolving, carrying new businesses along in its steady growth. With technology, a solid infrastructure, and a good transport system in place, business operations are easier and profits margins are bigger. Human capital is also readily available for foreign employers and this contributes to achieving more profit for businesses.
- No Taxes: As an investor in a foreign economy, you normally would be exposed to local taxation. This is one of the ways that governments get revenue from foreigners. However, the Emirati government has been kind to foreign investors. This government has consciously made efforts to assist the growth of foreign businesses in their ecosystem. Foreign investors in Dubai can save their personal income tax because the Dubai government doesn’t demand it. The Emirati government does not tax corporate profits too.
- Adequate Business Support: First, a budding economy, then the government, but what good will any of these be if the process of setting up a business is challenging? Starting up a business in Dubai has been made easy and stress-free. You can even register your business and do all the necessary processing without moving down to the country. To register your business, all you need to get started is to provide your business name and indicate your prospective business’ activity. You will also need to provide other key documents like your passport and other documentation as required by the government licensing agency. As a foreign investor, business support and consultancy firms are at your beck and call in Dubai. Of these companies, Free Company provides business registration, incorporation, and licensure within a week. With a simple subscription from anywhere in the world, Free Company creates your company and provides supporting features such as banking services, virtual offices, local telephone numbers, mail and receptionist services, legal templates, accounting services, and marketplace accounts for your business. Free Company assures its clients of lifetime ownership of incorporated companies regardless of subscription validity.
- World-Class Technology: The growth of Information Technology has helped to make the world a better place for businesses and individuals. Businesses can do more in less time while saving money and reducing the effort from manpower. These technologies are readily harnessed in Dubai and have helped to contribute a lot to business success in the city. Setting up your business venture in Dubai gives your business room to benefit from the possibilities that abound with evolving technology and the corresponding business tools. Regardless of the company’s stage of development, industry, or activity, Dubai is fortified with the technology to help businesses scale.
Final Notes
There are a lot of benefits for any business interested in setting up in Dubai. The opportunities are endless. Are you worried about setting up your business in Dubai? Free Company has all of that covered. Free Company will help you to get your company registered and in operation in less than a week. With Free Company, you can get all the support your business needs by subscribing to any plan of your choice. No long-term contracts, no commitment, no hidden charges. Click here to start your company with Free Company today!
