The last few years have seen the world’s dominant financial markets shift. In this regard, the Middle-East country of UAE has started rising as a global business and economic superpower. In UAE, the glistening city of Dubai continues to be one of the most sought-after destinations for international businesses and investors looking to grow their expansion plans.
In the World Bank’s ‘Ease Of Doing Business’ Report of 2019, UAE occupied a handsome 11th place. The report covered the city of Dubai and identified several factors that are attracting investors to the region. Thousands of businesses and investors swarm to Dubai’s promising shores every year in the hopes of fuelling their business expansion plans.
Whether it is in the field of real estate, education, manufacturing, consulting, ecommerce, or anything else, Dubai has witnessed exponential growth in the last decade. In this article, we are growing to list down seven major reasons why you should expand your business to the city of Dubai in 2022.
List of 7 Reasons Businesses should expand their Business Operations to Dubai in 2022
- The Presence of Free Economic Zones in Dubai-
In total, there are over 45 Free Economic Zones in the city of Dubai. The main attraction of these free zones is that investors and businesses can set up companies without having to give up any part of their ownership. However, it is best that during the incorporation in these Free Economic Zones, you take help from a law firm in Dubai with regard to the paperwork.
- Stability and Continuity of the Political Regime-
Businesses always look to secure operations in countries that have a stable political regime. This is because frequent political changes result in drastic deviations in economic and financial policies. In Dubai, you can rest assured that policies won’t change overnight. The political continuity has played a major role in building Dubai as one of the world’s financial capitals.
- Low Rates of Crime and Emphasis on Safety-
Most international organizations that Dubai has the safest and lowest crime rates in the region. This safety makes Dubai a safe place to study, live, work or do business. The government’s emphasis on safety has often been cited as one of its good governance goals. Businesses that fear crime, can move to Dubai as it is one of the safest havens in the world.
- Globally Renowned Infrastructure-
You must have seen Dubai and its glistening buildings, public roads, and other amenities. With planned housing, medical policies, as well as identified business locations, few other cities in the world can triumph Dubai. Factory space, warehouses, malls, as well as public retail outlets abound in the city offering businesses of all shapes and size an opportunity to grow.
- Melting Pot of Cultures and Nationalities-
The region of Dubai is considered to be one of the most tolerant places on Earth. According to data, there are more than 200 different nationalities that call the city their home. A growing number of expats from the US and UK are moving to Dubai thanks to the higher standard of living, better tax structures, and great public amenities that the country provides to its residents.
- Strategic Location in terms of Geography-
Dubai is considered the Gateway to the East. In many ways, this part of the world connects Europe to the Asian continent. Businesses that have operations in Dubai are able to conduct smaller units in countries like India, China, Singapore, and other parts of South-East Asia. It is well connected with air travel companies operating flights to different parts of the world.
- A Relaxed Tax Structure that is Pro-Business-
If you are not from the banking, hotel, or oil and gas sector, you do not have to pay taxes in Dubai! That is one of the biggest incentives for businesses that are burdened by their national governments. In simple words, you do not have personal income taxes, corporate taxes, or even VAT that operates in Dubai. This is a great incentive for foreign businesses. You should know that businesses in UAE benefit from a series of tax breaks and relaxations. This helps them strengthen their bottom line and generate as much profit as possible.
The Final Takeaway
While the pro-business environment is helpful, businesses should look to work with local legal and financial experts to help them set up. There are some paperwork and licensing requirements that need to be fulfilled when starting a business in Dubai. If you require any assistance in this regard, please let us know in the comments below. We would be more than happy to help you create your businesses’ presence in Dubai and the Middle East.
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