Why Setup a Business in Dubai
There are numerous reasons as to why Dubai is dubbed the leading business location in UAE where investors from different parts of the world can start businesses from scratch or setup branch companies. For instance, Dubai has managed to stabilize economically despite experiencing an economic down turn that affected the banking and real estate sectors. The stable economy can be attributed to the region’s economic diversity that is strongly backed by the government through designation of industry specific business zones. This makes it easier for foreign investors to identify the ideal business setup in Dubai locations based on their economic areas of interest. Hence, the region’s recognition as Middle East’s international business hub.
Industries that attract foreign investments include; tourism, retail, general trade, Shipping, media, exhibitions, banking, trade in diamonds and gold. In addition, Dubai is a major international travel hub. As such, it not only offers a strong business base but also offers business exposure to potential customers from all parts of the world who tour the country from time to time. Moreover, economic analysts predict double digits growth for Dubai’s economy despite the fact that other strong economies like Europe and USA are expected to experience a drawn out and long period of slow economic growth, government budget cuts and high unemployment rates. Therefore, aspiring entrepreneurs who wish to build strong business dynasties should invest now and wait to grow and expand as the region’s economy thrives.
Additionally, Dubai’s geographical location guarantees access to huge economies in the East. It is well positioned for investors to easily access the cash rich gulf economies through roads and air transportation. Above all, the region is dubbed the most diverse and livable place in the Middle East due to its low rent rates, great weather, free lifestyle choices and zero income tax. In light of all this, Dubai business setups appeal to a wide range of foreigners who not wish to make profits but also experience life in a culture rich, secure, and modern environment.
Foreign investors can choose to operate their Dubai business setup as branch offices, registered companies, or representative offices. Alternatively, they are allowed to appoint local commercial agents who distribute products in the UAE market on their behalf. New Dubai business setups can choose to conduct activities in the mainland, free zones, or offshore regions that are equally accommodating to both local and foreign investors. However, the different business setup regions are governed by different business formation and operations rules and regulations that must be strictly followed to ensure compliance with the Federal laws.
As such, foreign investors are advised to work with business consultants in Dubai for guidance on the legal procedures to follow for Dubai business setup of their choice. Business consultants in Dubai also help with filing the business setup registration with the right government authorities and guarantee that your business setup would be approved and granted the perfect licensure within the shortest time possible.