Dubai has come a long way in establishing itself as the thriving, ambitious and fast-moving economy today. A 2021 survey conducted by the Dubai Chamber of Commerce and Industry showed that Dubai’s consumer confidence hit an all-time high in the last 10 years.
So, what exactly makes Dubai so attractive for start-ups and SMEs across the world? Let's look at the top reasons why Dubai is so well-suited for setting up a new business.
5 Reasons Why Starting a Business in Dubai Is So Popular
1. Dubai Infrastructure: Among the Best in the World
Dubai has an exceedingly well-developed transport, social and economic infrastructure, including but not limited to their high-quality office and residential accommodation, strong transport links and sophisticated financial and service sector. Ranked among the world’s best for infrastructure investment attractiveness by the Global Infrastructure Investment Index, Dubai’s excellent infrastructure makes setting up your business here more accessible than ever.
2. Doing Business in Dubai: A Strategic Location Where Trading Opportunities Are Limitless
Another great advantage Dubai has is that it’s right in the middle of the world, enabling strong trade links to major cities such as Moscow, Hong Kong, London, Hamburg, etc. As one of the top trading hubs, Dubai has achieved exceptional trade growth, and hosts over 100 international trade shows annually. As a business in Dubai, participating in these fairs enables you to network with multinational companies and explore more opportunities without sacrificing your regular operations.
3. Taxes in Dubai: No Income Tax & Full Repatriation of Profits
It comes as no surprise that this is the reason so many foreigners decide to set up a business in Dubai because of its business friendly tax policies. Not only is there low tax on earnings but there are lots of leisure options for enjoying the money, making living in Dubai an excellent destination for you.
4. Foreign Direct Investment in Dubai: Resilient Economy & Strong Growth
What better reason for setting up a business in Dubai if not for the attention offered to foreign-invested companies. Dubai has a record of strong growth in FDI, attracting Dh46.6 billion FDI in H1 2019, a 135% increase when compared to the same period last year. Despite economic challenges that have arisen due to COVID-19, Dubai is determined to continue accelerating economic growth this year. Most recently, Dubai announced $409m for the energy, trade, retail and tourism sectors.
Government-related entities have even begun issuing support packages for their business partners and suppliers. Here at DMCC, we provide exclusive business set-up pricing packages ranging from start-ups and individual entrepreneurs to large companies.
5. Dubai Residence Visa: Convenient & Expat Friendly
Visa regulation in Dubai is exceptionally expat-friendly. Setting up a business in one of Dubai’s free zones means you can quickly get a residency visa not just for yourself but for your family members and employees as well. With your visa, you can enjoy additional benefits, such as:
- Ability to open a local bank account;
- Long-term house leases;
- Freedom of movement;
- Efficient visa application for other countries and regions, including Schengen countries.
These are just some of the top reasons why Dubai has become one of the most sought-after places for doing business. If you are thinking about where to set up business in Dubai, consider setting up in the worlds #1 Free Zone, DMCC. Located in the heart of Dubai, DMCC offers your business unrivalled benefits and services to help your business succeed – that’s why over 20,000 companies have already set up their business in DMCC. Speak to an advisor today to find out more.