As recent surveys show, UAE has one of the biggest economies in the entire world and is also much diversified. This country has also recently become a member of the World Trade Organisation, playing an integral role in the global trade business.
Due to this fact, a number of new entrepreneurs have taken a keen interest in its economy and are choosing to invest in Dubai business setup. While there are many prospects in Dubai, there are also some essential things that might influence your decision. If you are planning to open a new business in Dubai, these are some things you must know.
- Dubai Boasts Several Tax Incentives:
The UAE government offers several tax exemptions on withholding tax, corporate tax, and personal income. What this essentially means is that you will get total profits from your business here. This is not true for several other commercial giants in the world. Entrepreneurs see this as an incentive in growing their business here.
In addition to that, minimum taxes and its simplified approach make it easier to open and develop a business here. On top of that, with the right competitive strategy and company structure, you can enjoy even more tax benefits. So, since you save a lot on taxes, you can reinvest that money and grow your business ten-folds in Dubai.
- Flexible Local Rules:
Another thing working for entrepreneurs in this city is its laws and regulations. Foreign investors and businesses alike enjoy a different set of much simpler rules, unlike ones that govern labour. For example, it takes only about a month from registering your business with the government to making it fully functional.
This is quite an incentive for a business developer here as it makes the process quick and profitable. Along with that, the other rules and regulations are not very complicated, making it easier for you to understand.
- Enjoy A Supportive Government:
Although the primary income of the government of Dubai is from its oil and gold, they pride themselves on their entrepreneurial and tourism industries. Thanks to its strong policies, this city has been able to create a benchmark in the world of businesses. As a result, all kinds of foreign investments are not only accepted but encouraged by the government.
Mohammad Bin Rashid Al Maktoum has made it possible by streamlining the government to provide several incentives and opportunities to foreign investors around the world. This has created an influx in the interest of such people and their efforts of Dubai business setup. That said, setting up your business in Dubai is one of the best decisions to make.
With such privileges and incentives, Dubai has quickly grown as an entrepreneurial hub in today’s world. However, for any first-timer settling and running a business in a foreign state can be quite difficult. This is when hiring services of capable and reputable providers like Emirabiz can come in handy. Rest assured, with convenient services from them; it will take no time for you to develop your start-up into a profitable business here.
