In less than 40 years, Dubai has modified itself from a local trading community into one of the most inspirational, exciting and successful cities in the world. Today it is an immensely attractive destination for tourists and businesses alike. Businesses from all over the world have begun establishing their presence in Dubai. From leisure & entertainment to banking and construction, businesses in various areas have opened their branches in Dubai. Whether you are seeing for an international fashion outlet or a world-class restaurant offering exotic cuisine, you are sure to find it in Dubai.
Stable Political and economic conditions:
Dubai is a part of the UAE which has low-crime and politically-stable country. Also, the UAE enjoys financial and monetary stability. The government has a long, consistent loyalty to pro-business, liberal economic policies including the security of intellectual property rights. The UAE is supposed to be one of the most open and modern states in the Middle East.
Infrastructure and amenities:
According to Consult us & thrive survey, the country has an excellent infrastructure with a good public transport system. The world-famous Dubai metro attaches the length and breadth of the Emirate. In addition to this, Dubai taxi, buses, tram, and water taxi (abra) makes transportation across the Emirate easier. The government of UAE has left no stone unturned in securing the foreign investors face absolutely no troubles in running their businesses. This resolve has translated into world class infrastructure and amenities in terms of business parks, office spaces, warehousing, transportation, connectivity, and utilities.
Businesses on mainland UAE are regulated in terms of company ownership – the UAE legal framework generally favors local over foreign investors (although recent legislation suggests this may be changing). Free zones permit 100% foreign ownership and are independently administered and governed by their own regulatory authorities, essentially being one-stop-shops for documentation. The absence of income tax for both mainland listed companies and those enrolled in the free zones remains one of the biggest incentives for foreign companies establishing in Dubai.
Finding the right employees and retaining them is the biggest challenge faced by most of the businesses. We Consult us and Thrive help you in finding right employee for your company. Even if you are running an online business in Dubai, such as for Amazon. So recruiting the right employees to support you is crucial. When it comes to highly skilled workers and specialists, it’s a very competitive market in Dubai. Hence Consult us & thrive recommend seeking the help of a reputed recruiting firm to find the right talent.
Even if Dubai is nowadays a favored business hub because there are no taxes on profits, the things have changed starting from January 2018. The financial authorities executed the VAT rate of 5% for particular goods and services. All over Emirates, there are multiple Free zones such as Dubai free zone, Abu Dhabi Free zone, Ajman free zone amongst a free. Each of them has different plus points. You must know which location suits your business proposition best and then zero down one.
UAE is very strategically located within three continents, Europe, Asia, and Africa. There are around 1000 weekly flights to other countries worldwide. There is easy access to the GCC and entire Middle East business. The right location is one where the customers can find you easily. There are certain areas where certain types of business are popular. For eg: Al Karama area is well known for Asian eateries, the Jumeirah area has a lot of Arabic and continental joints. Areas such as JLT, Media City, and Internet City hosts a number of Media and Technology companies.
Strong healthcare and education policy:
The most modern international hospital within the UAE is the Rashid Hospital in Dubai. The state hospital in Abu Dhabi and some private hospitals also offer great services, while clinics in Ras al-Khaimah and Sharjah have slightly lower standards. Places at state universities in the UAE are almost completely reserved for Emirati students. Only a very limited number of foreign students are admitted, and the admission process is very tough. Just like schools, these universities are not co-educational
Hopefully you have identified why Dubai is best for Business from the above list. For the process and legal requirements, you don’t have to worry because Consult us is here to assist you. Remember that although Dubai is a lucrative business destination, there are few rules that you have to learn and obey. The absence of income tax for both mainland listed companies and those enrolled in the free zones remains one of the biggest incentives for foreign companies establishing in Dubai.