Dubai has evolved over the last four decades from a small trade society into one of the world’s most impressive and competitive economies. It’s also recognized as a global trading center, with options for international investors in finance, real estate, manufacturing, logistics, tourism, and hospitality, to name a few.
Any of the world’s most prestigious companies are headquartered in Dubai, and new entrepreneurial projects are introduced on a daily basis. So, what attracts start-ups and SMEs from all over the world to this city? Let’s take a look at why Dubai is such a great place to start a company.
Businesses often thrive in areas where other businesses have already successfully developed their foundations. This is because the region’s technology, access to expertise, and ease of transportation make it viable for other industries in a variety of ways. This is why, before attempting to develop a market, companies normally recognize the most active business hubs in a region. And it is no hidden that Dubai has attracted a lot of attention from potential business owners in recent years.
Dubai has a well-developed social and economic infrastructure, which includes high-quality office and residential housing, excellent transportation connections, and a mature financial and service industry, among other things. Dubai’s excellent infrastructure places it in the top three countries for infrastructure investment attractiveness, according to the Global Infrastructure Investment Index.
Dubai’s geographic position allows businessmen to seamlessly engage with multinational industries on other continents. In Dubai, companies such as Google, KPMG, Petrofac, Microsoft, Apple, and Cisco Systems have formed offshore branches. This location is a gold mine for traders looking to make the most money by doing business with international firms or providing utilities without the intervention of economic bureaucracies. For startups with foreign business contracts, the Dubai company registration process becomes easy.
In Dubai, there are no personal income taxes. Regardless of the kind of company enterprise you set up, you will indeed benefit from 0% corporate income tax and repatriate your earnings with no limits, with the exception of a few business areas. No wonder it is the biggest reason that so many foreigners choose to Business Setup in Dubai.
Dubai has a stable government that allows industries to thrive. The presence of several large and small businesses adds balanced competition to Dubai’s industry environment. Companies are encouraged to evolve through competition, which allows them to reach further in terms of sustainability and returns. In addition, despite the global challenges posed by COVID-19, Dubai remains committed to accelerating economic growth this year as well.
More than 200 nationalities are present in Dubai. It is open to people of all religions and origins. Its laid-back culture, cosmopolitan lifestyle, low crime rate, high-quality accommodation, and varied recreation opportunities make it an appealing place to live. So, if you’re a foreign investor looking to start a new company in Dubai, QuickBiz will assist you. We provide all services related to the establishment of a new enterprise. For more details, please contact us on +971 56 406 6546.