Business

Dubai has always remained to be a promising business destination for budding entrepreneurs. With a long-term vision, the UAE government creates a win-win situation by offering the right political and economic conditions for businesses to thrive. Therefore, if you are planning for a business setup in Dubai or company formation in Dubai, look no further it is the right place to turn your dreams into reality. Listed below are the top 6 advantages of the place: Geographically Strategic Location The strategic location of Dubai is a major plus point for investors. Ideally located between the east and the west, the city connects the best of both worlds covering major continents Asia, Europe, and Africa. An interesting fact is one-third of the world’s population lives within a 4-hour flight of the UAE and two thirds within eight hours. Therefore for any business activity related to logistics, international trading, hospitality, or tourism, Dubai is the best place. The venue for ‘2020 World Expo Trade Convention’ Dubai has been chosen as the venue for the much-awaited ‘2020 World Expo Trade Convention’. It is the first middle eastern city to host this expo generating tremendous investment and employment opportunities in the country. World-Class Infrastructure When it comes to infrastructure, Dubai never stops progressing. The city takes pride in it’s highly developed roads and public transport system. Dubai is also known for its state-of-the-art commercial, residential, and recreational facilities. In a Travel and Competitiveness Report, the World Economic Forum has listed Dubai among the world’s top well-maintained cities. No Taxation Policy Dubai is a tax-free economy, therefore if you are planning to set up a business in Dubai, you do not have to pay any tax to the government. The country exempts investors from numerous taxes such as personal income tax, corporate tax, withholding tax, and capital gains. Excellent Banking System The banking system in Dubai is known for its economic stability, strong security and prompt customer service. With a secure government and extensive financial resources, an investor can easily open a bank account in UAE when compared to other countries. Existence of mainland, free zone, and offshore jurisdictions  There are three main jurisdictions in Dubai with its unique set of advantages for investors- mainland, free zone, and offshore. For setting up a mainland company, a foreign investor should mandatorily have an Emirati partner. These companies can enjoy an array of advantages such as the freedom to do business anywhere in the UAE, zero tax (corporate and personal), hassle-free recruitment process with no limit on an employment visa, and low import duty.  For a free zone business setup in Dubai, UAE entrepreneurs do not require a partnership with an Emirati sponsor yet enjoy 100% ownership irrespective of their nationality and domicile. These zones have numerous benefits such as exemption from a capital deposit, import and export duties, no office requirement etc. Offshore companies do not require a physical presence in the UAE and have a significantly lower cost structure. If you wish to gain more information on these jurisdictions or are planning for a business setup in UAE, Corpin Consultants can help you out. Our experts can provide you with valuable guidance and support in every aspect of company formation in Dubai. Contact us at +971 55 843 2911 or drop an email at info@corpinconsultants.com, we are happy to help you!