It is advisable to start a business in Dubai? I got these questions all the time and i try my best to satisfy their mind with the best possible answer. There is no denying that dubai is a business hub of the middle east and it is one of the fastest-growing smart cities in the world. It is also an investor-friendly city due to factors like location, excellent infrastructure, flourishing tourism industry, flexible business policies and buying potential of the residents. So anyone who is thinking for business setup in dubai should also consider these above-mentioned factors. If you go through the history of this emirate, you would come to know about the expat’s contribution in building this city.
Perfect Business Landscape for Business
In order to encourage investors, Dubai government offers endless benefits to business owners. They are trying their best to attract investor’s interest by introducing business-friendly policies. Awarding permanent residency to expats is also the part of this conviction. I also think that the process of company formation in dubai is quite easy as compare to other developed cities in the world. Here are some encouraging factors that you should consider, if you planning to set up a business here.
Dubai location is very ideal and all the bigger markets like asian, middle east and african are easily accessible.
Excellent Infrastructure –
As a smart city, you will find world class infrastructure here. Broadband connection efficiency is one of the best in the world and more than 90% of the population has access to internet.
Tax Exemption –
This is one of the best things that can happen to business owners that you don’t have to pay income tax on your profits. If you register a company in designated free zones then you can enjoy the tax exemption facility.
Thriving Tourism Industry –
There are about 1 million travelers visits Dubai in order to spend quality time every year. The presence of these visitors directly boosts the sales of the sectors like real estate, retail and hospitality.
Strong Buying Power –
Due to the progressing economy, the buying potential of the residents of the dubai is very high. This is a great indicator for investors to start a business.
Picking a tax-exempt nation and area has an enduring and sensational effect on business. Picking a spot that considers your client’s inclinations and your organization’s needs can enable your business to be a triumph. In UAE, UAE law, remote substances keen on building up a formal nearness in the UAE have five alternatives
- Create a perpetual foundation
- Establish a branch office
- Create an element in a UAE free zone
- Create a common organization (just in Sharjah and Dubai)
- Enter into a business office understanding.
When you have chosen your area and kind of business you have to need get your business permit, register your exchange name, and get a business financial balance. Top 10 stages on how u can get your reports are recorded beneath:
- Legal structure of the organization
- Confirm the business offices required
- Verify the expenses and different charges
- Submit the application structure and different reports
- Secure the application structure and different reports
- Open ledger
- Payment of the expenses
- Sign the understandings and other authoritative reports
- Receive your business permit and different authentications or archives, licenses and allows required for your business.
- Process your visa (whenever required)
In the end, i think dubai is a land of opportunities and one can fulfill their dreams by living here. If you are planning to set up a business then you may need the advice of business setup services in dubai to be on track in your plans. These people are professional and they know the business landscape of this city better than anyone. So get a consultancy is not a bad option for sure.