thinking of starting a business in dubai - Full Guide for 2024
- Author- Dubai Visa Online
- Publish Date-
Every organisation wants to do business in that country, which is famous for global trends. There is also the availability of the ultimate investment destination in many sectors.
So what are you waiting for? Dubai is the best option. In the 20th century, Dubai has transformed itself into an amazing global trending hub with a lot of investment sectors like imports, exports, logistics, the tourism sector, the hospitality sector, event management, financial services facilities, and construction.
Due to the availability of ultimate and unique facilities in different sectors, many entrepreneurs prefer to do business in Dubai.
Top reasons and facilities why one should choose Dubai for business opportunity in 2024
1. Due to its geographical Location: According to the Geolocation, Dubai is situated in the exact middle of the U.A.E. at a distance of 400 miles. From here, the seaport and the world's largest international airport are easily accessible. As a conclusion, Dubai has rich access to approximately 2 billion consumer markets situated in Europe, Asia, Africa, CIS countries, and the Gulf as well.
Transport: For Import and Export Dubai has the largest seaport, whose name is Jabal Ali Port and it also has the world’s largest airport, which is Dubai International Airport. So by the availability of a rich transportation facility, no one feels any hassle to import and export or to bring goods from Dubai to any other country in the world.
2. Infrastructure: If we talk about the infrastructure of Dubai, then it is very easy to set up any new business in this place. Because of the availability of an office, manufacturing plant, retail shop, and warehouse, everything is always ready to move in. In the last decades, highly facilitated residential, tourism, industrial and commercial facilities have been built.
And the most amazing thing is that the country of Dubai ranks 2nd in the quality of roads, 3rd in the quality of the best air transport, 5th in the seaport facilities and infrastructure, and 8th in the ground availability of the transport network.
3. Management and staff Legislation and taxes: The economy of the U.A.E. is considered to be the most liberal economy. In other countries, there are so many tax rules available, but if we talk about Dubai, there are no taxes in fields like personal income tax, capital gains tax, value-added tax, withholding tax, and corporate tax. Dubai applies no taxation facilities to business startups and to entrepreneurs as well.
4. Security in Dubai: Security and safety are the unique characteristics of Dubai. According to the report, the crime index is very low in Dubai in comparison to the rest of the world. Some crimes, like serious crimes such as robbery, murder, kidnapping, rape and physical assault, have an availability of 0.5 to 1 in the 10-lakh population. This is due to the presence of the best security system in Dubai. And we all know that business will grow and reach its highest zone in a safe and secure place.
5. Bank and Finance: For the new startups and new business setups in Dubai, it is too easy. Because the government of Dubai is most welcome for entrepreneurs to invest in Dubai. By the amazing business plan, the government provides financial support to the entrepreneurs so that it will be easy to set up a new business in Dubai. And government support is very beneficial for the new business aspect.
6. Opportunities in Dubai: As the location of Dubai, which is in the middle of the U.A.E., so many target customers can easily be accessible from here. Apart from this, any business has access to target customers in countries like Africa, Asia, CIS, the Gulf, etc. Dubai has a lot of business opportunities.
7. Trade and Trade Licence: For the business point of view, Dubai provides mainly 3 types of trade licences: commercial licences, professional License and industrial licences. Via the trade licence, it is quite easy to trade in Dubai, as in the fields of manufacturing, professional services and covering all kinds of trading activity.
Advantages of Business in Dubai:
There are a lot of Business advantages In Dubai, some of the major concerns are indicated below:
1. 100% foreign ownership
2. Highly Developed Infrastructure
3. Free of taxes
4. The facility of no currency restriction
5. No Personal Income Taxes
6. Full Government support for new business setup & startup as well
7. Highly developed and efficient communication system facility
8. No corporate withholding
9. Highly facilitates of transportation availability
Disadvantages of business in Dubai:
1. Managing the money: As Dubai is a high-living-standard country, it is a risky situation to manage and monitor the money management aspects here.
2. People Management: With the diversity of workers' professionals available in Dubai, people management is also a tough task here.
3. Business Controlling: In Dubai, it is known to all that a new business reaches 0 to 100 but it will not be as rapidly. Growing our business in a place like Dubai is a tough task because of the presence of a lot of competitors. So again, business control is no doubt a little bit risky here.
Dubai is one of the best countries in the world to start your business. It has the best infrastructure and entrepreneurs are welcomed there to start their businesses with fewer restrictions.