A number of cities seem like to capture a specific moment in time. Presently, Dubai seems to exemplify three moments, in which the most important is the change in the world’s economy from established markets on the way to developing markets. The other reason is that one of the last gasps of the oil culture and the last third one is the rise of business as a way to govern the social order.
Dubai is a central city in the Eastern region. The United Arab Emirates has made enormous development by expanding its economy other than oil. You, know the non-oil sectors currently adding about 70% of the UAE’s Gross Domestic Product (GDP) and Dubai is the heart of the UAE. Dubai is also, a sort of carnival of stylish consumption. Dubai has many malls, with lot of trading shops of jewelry, clothing, shoes, accessories, glossary, crockery as well as professional services etc. If we talk about jewelry, then will find immense variety and styles in necklaces, rings, earrings, bracelets, jewelry watches and stylish sunglasses, etc. Like other industries in Dubai the market of gold jewelry and imitative jewelry both are going very well and are famous in all over the world. People especially used to go to Dubai for shopping purpose and the investors feel it great to invest in Dubai.
Let’s have a look on some of the reasons that urges the investors to invest in Dubai and what are the factors which has made Dubai more popular in the past decade for setting up business there.
- Strategic geographical location
- Relief from Plenty of Taxation
- Safe Place
- Residency Visa
- Benefits of Free Zones
- Excellent Infrastructure
- Excellent Sea ports and air ports
- High standard of living
Strategic Geographical Location
As Dubai is located middle of the UAE, it has access to both the sea and airports. The world’s largest airport is located in Dubai. You that the 2.5 billion consumer markets which are situated in the Gulf, Africa, Asia, CIS countries and Europe are directly linked to Dubai. If any business wants to transfer its goods from the East to the West and vice versa then it must have to use the transportation facilitates of Dubai either the airport or the sea port. It is strategically located between Europe, Asia and Africa thus an idyllic place for doing many business undertakings.
Relief from Plenty of Taxation
In every other region of the world any business has to face a long list of taxation. But in Dubai man has relief from many heavy taxes. Here is the list of the taxes which are not applied in Dubai
- Personal income tax
- Capital gains tax
- Withholding tax
- Corporate tax
But these are not applied not all the businesses such as the branches of international banks, hotels and major oil and gas companies.
Dubai is emerging as a global city and the best thing about it that it the safest place to live. You will happy to know that the crime index in Dubai is one of the lowest in the world. Security and the political stability are one of the most important factors of the city.
You can enjoy many benefits by having a residency visa like
- can open a current account in banks,
- can lease an apartment
- can get visas for other countries
- can move in/exit to/from UAE numerous times
If you have a business in Dubai then you can easily get a residency visa not only for you but for your family, and even for your expatriate employees too.
Benefits of Free Zones
The United Arab Emirates has many Free Zones. A free zone is a designated tax-free area. So, for investors; it is the most favorite area to start their business.
Another best thing about Dubai is that finding an office, a retail shop, manufacturing unit or a warehouse is not a big deal. You can easily find everything because the infrastructure is awesome. During the last decade, new and high standard facilities have been built rapidly. These facilities were residential, tourism, industrial and commercial and were on a massive scale.
Excellent Sea ports and air ports
We know that the world’s largest airport is in Dubai. Similarly, the sea ports of Dubai are also very lavish and outstanding. Definitely, these are also considered are qualities for starting your business.
High standard of living
Every one wants to enhance his standard of living and Dubai even the whole UAE is best place to do business for enhancing your lifestyle. One can enjoy high quality of life and living conditions in the Dubai, UAE. The UAE was ranked as the No. 15th with the best quality of life in the world out of 160 countries. You will have the free wifi in public spaces in Dubai that is also an indicator of a smart city.
The acknowledged meaning of a wonderful city is one that utilizes advanced technology to enhance the lives of its residents and make everything from transport to well-being and education more productive as well as manageable. So, we can say that Dubai is a wonderful city. These were the reasons which urge the investors to make a decision of their new Business Setup in Dubai and due to which it has become the more popular in the past decade. In my opinion the above mentioned points are the main reason that is bringing a lot of international investments and businesses into Dubai. If you have any other points then please mention in the comments sections.