Dubai serves as a central location and a very strategic location on the world map. It is close to most of the major cities in the East and the West, offering a convenient waypoint for those who are crossing the globe and serving as a hub for local businesses who want to expand in either direction.
The Dubai government has made it very easy for investors to setup their business in the city. They offer a lot of key benefits in comparison to other cities.
- Tax-efficient city
Dubai is a tax-free city, with no income or capital gain tax. This makes it extremely attractive for people from all around the world to come and set up their business in Dubai, as well as invest in property, since no value added tax is levied on residential property for investors.
- Open and free system
Dubai has open economic policies, minimal government control and private sector regulation facilitate Foreign Direct Investment (FDI). This makes it extremely favorable for investors to setup new ventures within the city.
- Free zones
Foreign investors are attracted to Dubai due to the various Free Zones. Free zones also give companies 100% foreign ownership; exemption from all import duties, 100% repatriation of capital and profits; and freedom from corporate taxation. It also offers easy connectivity and makes for a strategic location.
- Stable currency
The UAE Dirham has been pegged to the US Dollar since 1973 and set at a constant rate since 1997. Investors consider the UAE dirham to be among the world’s most stable currencies in terms of exchange rate stability.
- Strategic location
Dubai offers easy connectivity and makes for a strategic location. Being at the crossroads of Europe, Asia and Africa, Dubai enables easy access to many of the world’s emerging markets.
- Political stability
One may say that it’s one of the safest countries in the MENA region to invest in. The UAE also carries significant financial and monetary stability. Its well-developed, sophisticated banking system features extensive credit facilities and ample liquidity. Due to its visionary leadership that works towards development in economic, social, cultural, environmental, and political domains, Dubai and the UAE remain politically stable.
- World class infrastructure
Heavy investment in transport, telecommunications and industrial infrastructure makes Dubai attractive for investment. This year, the Dubai economy aims to outpace last year’s growth with the Expo. Last year, investments in infrastructure and growth in trade contributed 18% to GDP.
- Smart economy
Dubai thrives on innovation and aims to reach the status of a sustainable city in the next few years. It focuses on making processes both seamless and online, and is one of the fewer smart economies in the world. Even registrations of new businesses can be done at just a click & successful submission of documents.
More and more new people and business enterprises from around the world are going to Dubai after noticing effective policies that curbed the coronavirus pandemic and that the government is going to offer an updated package of accessibilities and opportunities.
The government has assured to provide investors with every facility and security they need to continue their business. Once again Dubai is on its way to becoming a leader in the global economy.