Dubai enjoys a successful, highly developed economic environment because of stable prices, stable employment, and stable income. Dubai’s economy grew to almost 5% last year. However, it should be considered that all this happened while most of the world suffered supply chain difficulties inciting inflationary difficulties. Dubai being the central hub for supply chain and logistics in the Middle East and Africa, was able to absorb and continue growth.
Dubai continues to be a magnet for major investments and new businesses.
So what are the key benefits to set up in Dubai:
Dubai has the most innovative infrastructure for new business setups and entrepreneurs. Skillful human capital, strong Governmental support, and a vision of 2050 have made Dubai more popular than ever and the preferred destination for new business setups to incorporate and grow with ease.
Innovative Technological Hub
Seeing is believing, if not the first. Dubai must be ranked in the top 5 most innovative cities in the world.
Strategic Location
Dubai is fast becoming the main artery for the MENA as well as the Asian region. From Dubai in. a matter of a few hours, you can be in Africa or China or India, and also Europe.
Huge Government of Dubai R&D
Without a doubt Government here is taking a leading role in research and development in Ai, technology, sustainable energy, in various other sectors of prime importance to the business.
The bustling Fintech Industry
Dubai is the future home of fintech and finance. Dubai’s vision for the most innovative digital economy is a big DRAW for all global and new fintech companies. Dubai already hosts over 80 fintech startups, thus becoming the region’s top technology hub. Dubai is also hosting a key FinTech summit in the month of May 2023.
Fantabulous Real Estate
Fantastic real estate is truly an understatement when it comes to Realty activities in Dubai. 100 million Dollars for a single beach villa a the Palm. Or a penthouse valued over 10 million dollars is nothing extraordinary in Dubai.
Entrepreneurial networking
Well since Dubai is busy making all favorable rules to promote ease of doing business. New entrepreneurs continue to roll in. Collaboration, networking, and finding a new connection are as easy as a walk in the park here.
Tax Incentives
Dubai enjoys a zero-tax regime. There is simply no levy of capital or personal tas. Flight of capital and profits are also relatively easier in Dubai.
The upcoming corporate tax
The upcoming 9% corporate Tax is probably going to be a flat rate with no differential taxes for different goods and services. The good news is that corporate tax paid is the final tax with no imposure of additional taxes.
Complete ownership of companies
After the amendment of CCL (Commercial Companies Law), foreign investors and entrepreneurs can fully own their onshore Dubai mainland companies. The changes from this new law are applicable to both new and existing companies, as long as they are carrying out activities that fall under the relevant lists. Contact an IBZ Business Agent for more information.
So, now that we have given you so many reasons to get ahead of your peers and get into a new business setup in Dubai. Please feel free to get in touch with an Idea Bizone Expert to start our new business in Dubai.
We will help you with company formation in Dubai and also add value following the completion of trade and business license formalities through business advisory, accounting, bookkeeping, legal, and taxation services.
