Why is Dubai and the UAE Free zones a great choice for starting a business?
Start business in Dubai, being one of the most rapidly growing countries in the world, is a great choice for startups and businesses. It is free of complications and its economic stability is highly credible. Foreign business is highly encouraged by the Dubai government and the incentive plans are remarkable. If you set up in any of the UAE Free Zones, the taxation will be non-existent. Starting a business or opening an offshore branch in Dubai and UAE involves simple procedures.
After you have figured out how to start business in Dubai and UAE Free Zones, you must learn why Dubai is the ideal place for setting up your new business and how profitable it can be.
- Dubai’s economy is diverse
Business and company owners from all over the world are bent on setting up their bases in Dubai because of its growing economy. Owners, who want to set up in an offshore location, consider Dubai to be the number one destination. The stability of UAE and Dubai offers several business opportunities, which are why small and offshore businesses are more drawn towards this nation.
- Legal framework and infrastructure
Dubai’s rules and regulations, taxations and federal laws for foreign investors and business owners are completely different. The procedure is simple. After the business registration, a proof of financial viability has to be shown. After that, you can start implementing your business ideas. Besides that, the physical infrastructure of Dubai and UAE Free Zones, office space, connectivity, power supply, warehousing and other requirements are brilliant.
- The support of the government
Setting up a business in Dubai or a Free Zone of UAE is beneficial from all aspects. Besides its rich diversity in the economy, stable financial growth, and excellent infrastructure, the government of Dubai also supports investors with pre and post services. Assistance with official documents, certificates, licenses, postcodes, and other requirements are provided. Besides that, the Free Zones in UAE have special import rules, regulations, and tax customs. Some of the benefits of the free zones are:
- There is a possibility of the complete foreign ownership of the company or the business.
- A complete exemption is made from export and import tax.
- Corporate tax need not be paid for 50 years.
- There are plenty of support services available like housing, hiring, and sponsorship.