Why open a company in Dubai?
Dubai, the commercial hub of United Arab Emirates is the second wealthiest emirate after Abu Dhabi, which is the capital of the country. However, a surprising fact is that unlike the various other emirates, Dubai’s wealth was not generated from oil assets and natural reservoirs.
The ‘city of gold’ earned it from a diversified economy – which include industrialisation, manufacturing, trade and tourism among numerous other sectors that the commercial capital has to offer. Dubai has also embarked the status of a fastest growing economy in the world – with trading being the main factor that has aided the economy mainly from China, India and United States. With an ever-growing economy and competitive market, company formation in Dubai could be a rewarding experience.
However, if you are still trying to find reasons on whether opening a company in Dubai is the right option for your business activity. Check the below pointers –
Business Opportunities in Dubai
Dubai offers pro-business governmental policies as well as liberal regulatory environment that makes the ‘city of gold’ one of the top-notch venues in the world to conduct business. Dubai has enormous diversified business prospects, that has brought this commercial hub on the global front. The region has established itself as a great economic force, attracting more and more organizations, entrepreneurs and investors to set up their businesses here.
Dubai has known to have a diversified economy not limited to oil reserves. After an economic downfall between 2008 – 2009, Dubai gained its recognition of being a wealthy city once again in 2014 with an amazing growth rate of over 6% and became the fastest growing economy in the world providing trade relations with multiple countries in the world. In the recent times trading and tourism have emerged as an important aspect to boost the country’s economy.
Dubai has established a reputation of being a tax advantageous city, with least applicable taxes. UAE does not levy income tax on personal money or capital gains. Also, only VAT or Value Added Tax is applied at 5% way lower to most countries. There are limited restrictions on foreign exchange control as well.
Easy Company Formation in Dubai
Dubai offers a gigantic list of option under company formation options with easy procedure that can help you start a business in less than a week. Every company needs to take care of the hurdles such as guaranteed local partner, getting approval from various departments, licenses, immigration, getting visa and PRO facilities. However, in comparison with the other countries in the world, company formation in Dubai has less stringent rules as well as the legal formalities.
Dubai is scheduled to host the most awaited exhibitions and development projects in the year 2020. The year 2020 will further give an amazing boost to the city’s economy and is expected to create thousands of business avenues. With an aim to expand the scope of opportunities, Dubai government is making sure to pool in huge investment in every sector be it infrastructure, innovation, technology and more.
Apart from the advantages, opening a company in Dubai also demands a strategic plan in order to achieve the long-term goals. Get in touch with Shuraa Business Setup a leading business setup company in Dubai. At we Shuraa do not only guide you with business setup services in Dubai and around UAE but also aids with business management and related issues.
Book a free consultation with our business setup advisors to get started! Follow the link https://www.shuraa.com/book-free-appointment/.