Why Start a Business in Dubai?
Dubai has emerged as a prominent business and commercial capital of the United Arab Emirates. The location, infrastructure, opportunities and flexibility make it one of the most business-friendly economies in the world.
The Emirates harbour infinite opportunities to establish your startup. Ranked the fourth-best business-friendly city, Dubai forges a strong proposition to enable growth for investors and entrepreneurs with 30+ free zones and multi-sectoral digital initiatives.
Reasons why Dubai is a strategic location for business setup:
1. Human resource capital
Dubai attracts and retains a diverse and competent workforce, constituting the expat population. There are highly skilled and proactive people willing to work and stay in the Emirates for an extended period.
So startups could find a quality talent pool to meet the requirements, ranging from advanced technology and research experts to finances and investments.
2. Business-friendly policies
Dubai continues to reform its policies to make international businesses more conducive to commercial activities.
The ease of doing business in Dubai is unparalleled to the rest of the world. It is futuristic, convenient, conducive and inviting as well. The city is a hyper-connected business destination, and rightfully so.
This dynamic business ecosystem boards various ventures, from information technology, manufacturing, and e-commerce to textile and hospitality.
3. Advantageous location
With several communication channels, viz. airports, seaports and well-organized and maintained roadways, Dubai is a strategic location for running a multi-national business, positioned to be the central hub for trading across various countries.
It has also become a key gateway for investors and entrepreneurs, connecting the Asia and MENA region to international markets with infinite networking opportunities.
4. Seamless Connectivity
Dubai is a forerunner in providing the best connectivity opportunities to businesses. With numerous ports, seamless roadways and an International Airport, the city connects with around two hundred and forty international destinations.
Setting up a business is elastic and convenient in Dubai, and it gives the freedom to be portable.
5. Advanced Technological Support
Dubai successfully leverages digital opportunities. Known as “the city of the future”, Dubai is also widely recognized as one of the most technologically developed startup destinations. The emirates foster innovative business models testing the concepts such as Hyperloop technology, 3D printing, metaverse, flying transportation, blockchain and the Internet of Things (IoT).
The city is gradually integrating information technology into its business paradigm to increase its potential, blending the benefits of artificial intelligence in different fields to accelerate business operations.
6. Free Trade Zones
Free trade zones are designated business clusters to promote business setup in Dubai with specific tax and customs incentives.
These zones are designed to attract foreign investment and promote economic growth.
Dubai free zone benefits include 100% foreign ownership, 100% repatriation of capital and profits, and exemptions from income taxes. Each free zone broadly offers various business licenses under trading, industrial and services to set up business in Dubai.
Some of the most popular free zones in Dubai include the Dubai International Financial Centre (DIFC), the Jebel Ali Free Zone (JAFZA), and the Dubai Silicon Oasis Authority (DSOA).
Conclusion
The government has been implementing new policies to facilitate a fair approach to company formation and creating an ecosystem that encourages entrepreneurial initiatives.
It not only aims to provide a launching pad to businesses but focuses on their longevity, sustenance and resourcefulness so that consumers get the best.
Dubai is undoubtedly one of the Smart Cities in the world!
How can Ascent Partners help?
Ascent Partners is a boutique consultancy providing bespoke, end-to-end corporate services ranging from company formation to accounting, bookkeeping, and compliance services for entrepreneurs looking to set up their next venture in the UAE. We work alongside to strategise, startup, and scale businesses in the UAE and the broader region.
With a combined experience of 50+ years, our expert consultants provide reliable and unparalleled guidance throughout all strategic phases of a business' evolution.