Top firm creation solutions Dubai: What makes Dubai so good for business ? Dubai is a geographical success story like no other. In twenty years, its population has tripled and its GDP more than quadrupled. It has quickly become the face of international business, not to mention the face of luxury. Dubai is also home to a vast and steadily growing number of international businesses and global groups, including private jet providers Vista Global. So why exactly is Dubai so attractive for business?
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The Dubai International Financial Centre is recognised as the leading financial centre in the Middle East, Africa and South Asia region. The DIFC free zone is distinct from other free zones in the UAE as it has its own court with independent regulations abiding by an English Common Law framework. The main features of the DIFC, in addition to the ones stated above are: Access to laws and courts (including arbitration system) based on English Common Law; Access to DIFC Will and Probate Registry; ; Access to a recognised and international stock exchange with primary and secondary listings of debt and equity instruments; ; Choice of a large number of regulated, non-regulated and financial activities licences; A platform to access regional wealth and investment opportunities.
A promising and bright future: Dubai plans to further cement its position as an economic, technology, innovation and business hub. It seeks to be number one across fields, working in parallel with plans such as the UAE Centennial 2071 and various short-term goals that define targets for each industry and sector. Dubai is poised to grow, and there can be no better choice for your business. Magnet for foreign investment: Dubai attracted Dh12 billion in FDI through 190 projects in the first half of 2020 despite the coronavirus pandemic. The city ranked sixth in the global attraction of foreign investment over the six-month period and first in the MENA region.
Benefits of free zones: With more than 50 different free zones across the UAE and with many more under development, free zones have helped make the UAE an attractive option for foreign businesses looking to relocate or expand their global footprint. The common benefits of doing business in a UAE free zone include: 100% foreign ownership of the enterprise; Access to world class logistic facilities; Availability of a large pool of multicultural, skilled professionals; Benefits from economies of concentration (given the zones dedicated to industries); Ease of recruiting international employees, with all free zones providing one-stop-shop services for work visas; Tax holidays – usually guaranteed for 15 or 50 years; 100% import and export tax exemption; 100% repatriation of capital and profits; Corporate tax exemptions for up to 50 years; Eligibility to apply for the UAE Tax Residency Certificate.
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