Is Dubai a good place to do business?
The 2019 World Bank report lists the United Arab Emirates at the 11th place on Ease Of Doing Business Index (a jump from 26th place in 2016)
Considering 190 countries were ranked, this is truly an achievement.
If you have been following the recent trends on business policies, its becoming increasingly business friendly and many have the government fees have either been completely eliminated or massively discounted.
Benefits of Doing Business in Dubai
Strategically located: Imagine a city that puts you in the center of global markets. Dubai is a bridge between the Far East and Europe on the East-West axis and the CIS and Africa on the north-south axis. It serves by over 120 shipping lines and linked with more than 80 airlines to over 120 plus global destinations.
Infrastructure: This could actually be the top reason. First time visitors are often surprised and shocked at how good the infrastructure is. Dubai has definitely made substantial investment in Roads, transports, telecommunication and power that makes it such an amiable place.
Cost Structure: No personal income tax (except oil companies and branches of foreign banks), no corporate profit tax, no foreign exchange controls, low and fixed import duties of 4%, access to multi skilled labor in addition to favorable policies that are being revised year-on-year to ease the investors. in 2019, The government even reduced fees on 110 services to almost half.
Setup costs: This is getting better every month, google "business setup in the UAE", the options on the mainland and free zones make this a preferred destination to move your business here.
Lifestyle: This is no secret, the standard of living is high. Access to recreational facilities and entertainment venues are very competitive compared to the west. You'll notice that a 3 star hotel here is comparable to a 5 star branded hotel in prominent cities in the western world.
Its only getting better each year: Year-On-Year, the investment laws, regulations, and incentives are only getting better and the policies are certainly encouraging businesses to move here. Keep a track on the recent developments at Gulf News Business and Arabian Business if you intend to move here or setup a business here.
These are just a few of the many benefits of doing business in Dubai. A robust economy, availability of specialized zones, low-cost investment and absence of taxes make it an ideal ground for entrepreneurs to bring their ideas into reality. We highly recommend you to also do your own research and get started.