Dubai is one of the world’s leading financial cities and business centers. But is it worth starting a company here? Let’s talk!
Dubai is one of the fastest-growing economies in the world. It already attracted some of the biggest investors in the world, but it is not too late for new and small investors. If you are planning to open a business soon, then we can recommend Dubai for you.
There are many reasons for it, and we have covered the top 5 reasons why you should start a business in Dubai in the following. It will be worth noting that Dubai ranks in the top 10 most attractive cities for investors.
Moreover, the consumer confidence in Dubai already passed New York, Paris, Tokyo, and London. Now, let’s check some of the prominent reasons why you should open a business in Dubai.
Dubai is one of the most expat-friendly countries in the world. If you are going to start a business in Dubai, you and your family can easily be granted for residency permit and visa. A residency permit allows you to perform all the following operations without any limitation:
- It will be easier to get other visas for other countries such as Schengen,
- You can enjoy movement freedom
- You can rent real estate for a long term
- You can open an account in banks
One of the Fastest Growing Economies
Dubai managed to grow 135% only in the first quarter of 2020, compared to the previous period. Only this is a great indicator of a resilient economy. Dubai is one of the few countries that managed to overcome the challenges of the epidemic with minimum loss.
Sectors such as tourism, retails, energy, and trade are constantly growing. We should not forget the construction sector too. There are jobs and projects for all kinds of businesses. The country also offers a business support package for the companies that were affected by the epidemic.
In short, the Dubai government is doing its best to promote and support the businesses in the country.
Low Tax Rates
The best part of Dubai, the government does not request any personal income tax. This means that you can keep all your money for yourself and invest it to grow your business. Most of the sectors also have 0% corporate income tax.
This makes Dubai heaven for all business owners or entrepreneurs. Thus, more and more foreigners are planning or willing to start a business in Dubai. As you can invest this money into your business, you can also enjoy numerous leisure alternatives within the country.
Strategic Location for Trading Opportunities
Dubai is located in the middle of the world and allows you to access some of the most important ports in the world. There are established trade routes between Dubai and London, Hamburg, Hong Kong, and Moscow. You can benefit from all of them at minimum cost.
The government in Dubai is still working on establishing new trade routes for their businesses. The country also organizes more than a hundred international trade shows. This is a great opportunity for trading and networking. You can benefit from it all by simply opening a business in Dubai.
World Class Infrastructure
One of the most prominent benefits of Dubai is its social and economic infrastructure. We are not only talking about amazing residential and offices but also the well-developed financial and service sector as well as transport links.
According to the Global Infrastructure Investment Index, Dubai is one of the three countries with the perfect infrastructure for investing and running an international business. Needless to say, the government still invests in infrastructure to improve it.
These were some of the benefits of opening a business in Dubai. As an entrepreneur, you may not want to miss this chance to start your own business.