Posted on 03-December-2019
Dubai is an advanced city that involves state-of - the-art facilities and a streamlined and competitive environment. The region is cosmopolitan in nature and is known to have one of the lowest crime rates in the world. This global city has the advantage of having a stable and tax-free business environment that is highly appropriate to set up any company.
To start a company, any business requires certain requirements such as unrestrained access to financial, electricity, and human resources, state-of - the-art infrastructure, simple and efficient transportation services, market access, and eventually a safe and secure place to start a business. Dubai has all the above requirements that make it the perfect place to start a business.
Below we discuss various reasons why one should initiate and conduct a business in Dubai.
UAE is strategically located between the continents of Africa and Europe, making Dubai an ideal location to set up a business. Dubai can easily be accessed via sea and also has one of the largest airports in the world. With connections to sea and air, companies in Dubai can easily send their products to markets nearby.
UAE is a politically stable region with some of the world's lowest crime indices. This political stability and secure environment are a major reason why many of the multinationals have invested in the country. In addition to this, they also have their offices and, in some cases, headquarters in Dubai.
Dubai stands at first position in the Middle East and Africa region and is ranked 15th amongst the world. Apart from this, Dubai is ranked as the 14th happiest nation in the world, as per the UN Happiness Index. The high standard of living and quality life aids in increasing productivity among individuals as well as inspires positivity.
Dubai does not have a tax policy for all types of companies. The only exceptions to this rule are the branches of international banks, hotels and oil and gas companies of great importance. The taxes that do not apply in Dubai are Value Added Tax, Capital Gains, Withholding Tax, Personal Income Tax and Corporate Tax.
The free zone is a particular area where no taxes are imposed on the companies. Any foreigner who wishes to set up a business here has full ownership of the company. As such, they don’t require a local sponsor as their partner. There are several free zones open and available to companies. The owners have the freedom of choosing depending on the benefits it has to offer.
The proximity and easy access to one of the largest seaports and airports enables goods to and from Dubai to be transported easily. Regardless of the distance, the businesses in Dubai are always able to access all resources and raw materials, as well as these firms who have access to markets all over the world.