Dubai is popular for its diverse economy. That is why he achieved a significant position in the global commercial market. Dubai ranked eleventh in the World Bank’s Annual Ranking due to the ease of doing business. It is excellent news for the entrepreneurs who want to expand their business in the heart of the UAE. You need to know the ease that Dubai offers to its businessmen before you start planning a business in Dubai.
Ease in Getting Residential Visa
Getting a residential visa in Dubai is very easy. The company owner can get the visa at the company’s establishment. Later on, he can apply for his family and expatriate employees’ visas. He gets these visas in days as well because the government of Dubai does not apply any restriction or obligation to it. Besides the easy process, it has many other benefits. Businessmen became officially eligible to avail of all the benefits such as can lease an apartment for the long-term, can open a current account in the premises of Dubai, can go out from Dubai and coming in at any time, and can get visas from other countries because it would be accessible as a resident of Dubai.
Dubai Economy Has No Taxation Culture
The economy of Dubai is known as the most diversified and most liberal in the whole region. Dubai’s government provides an ease to its businessmen to establish their business without paying any tax except in a few areas. Areas, where they charge are branches of international banks, major oil and gas companies and hotels. Moreover, the following is the list of taxes that do not apply in Dubai
- Value-added tax
- Withholding tax
- Corporate tax
- Personal tax
- Capital gain tax
It shows the Dubai region is friendly regarding tax. It attracts many international investors that they come here and establish their business.
Innovative Business License Policies
The one thing that attracts the most the international investors is that Dubai offers the most lenient compliance on the mainland. It also introduced new kinds of licenses. Moreover, the cost of the immediate license, commercial permission and lower license has been introduced in past years. It is a possible explanation for doing business within the boundaries of Dubai. It attracts a large number of audiences.
Located at Central Location
Dubai is located between Europe, Asia and Africa. Dubai is where any business can grow and get success. Trading, importing, exporting, tourism, logistics, hospitality and event management are a few examples of successful businesses in Dubai. Dubai is blessed with the largest airport in the world and sea. It means Dubai is accessible for sending and receiving goods from any part of the world through land, sea and air. Dubai facilities transportation of goods between East to West. The entrepreneurs of Dubai have access to 2.5 billion consumer markets. It targets the consumer of Africa, Asia, the Gulf, CIS counties and Europe.
Luxurious Living Lifestyle and Best for Doing Business
Dubai is the safest place around the globe. This feature of Dubai distinguishes it from the rest of the world. If we analyze, the crime index graph would be minimal compared to other countries. If we take one lac population to analyze crimes such as murder, kidnapping, physical assault, and rape, the crime rate would be about 0.5 to 1 percent of that population. In the other regions, it would be 6 to 8 percent. It is considered one of the most politically stable countries in the Middle East region. The political stability and security features of Dubai entice investors and businessmen. There is no doubt that security comes first, and businesses can only grow in a safe environment.
Dubai Has State of Art Good Infrastructure
Dubai has several offices, manufacturing units and retail shops. An entrepreneur needs to move here and start a business. Entrepreneurs do not need to worry. Everything is ready to start a business without any tension. Dubai is upgrading itself in its residential, industrial, tourism and commercial sectors. They made massive progress in these fields during the last few decades, and progress is still ongoing.
Furthermore, to attract investors, it builds convenient public transport, smooth roads and develops new airports to ease its investors. The Dubai infrastructure is rate is one of the world’s best infrastructures. It is declared by the Travel and Tourism Competitiveness Report of WEF.
Free Zones in Dubai
The free zone is where investors can establish and start a business with full ownership. They do not have local partners to run a business. The licenses and zones vary from each other. For example, the free zone for healthcare is Dubai healthcare city or DHCC, and the free zone for media companies in Dubai media city. The total number of zones operating in Dubai is 20, expanding the number.