Dubai - A Beneficial Business Hub

Dubai also has been observed having a decline in economy due to COVID-19 crisis in these two years, similar to the world. The UAE government took all the mandatory measures to combat the economy and to maintain sustainability. Due to constant efforts by the government by organizing national disinfection programs, nation-wide COVID-19 testing and vaccination programs, now the economy is on the way to normalcy. Also,  Dubai has also been observed having the strongest growth in the last two years. In fact, UAE became the world's most vaccinated nation, as 17.1 million doses administered and 73% of residents are vaccinated. 

These reports are rays of hope for not just local business leaders but also for foreign investors and travellers. Additionally the government brought new laws and regulations which are proven as benefits for entrepreneurs who are planning business setup in Dubai. Let's know some important points why business setup is now most beneficial in Dubai. 

1. Tax-friendly:- Since the COVID-19 crisis, countries are noticed having so much decline in their economies. Still, UAE was not having corporate tax levied on businesses, this is the reason, Dubai attracted a large number of entrepreneurs and affected investors. 

2. 100% ownership:- As per the recent amendments by UAE Commercial Companies Law, international investors can have entire ownership on their UAE company’s finances and operations. Also company formation in Dubai permits entrepreneurs to become residents of Dubai and sponsor their family and employees.

3. Expo 2020:- Dubai is now all ready to inaugurate "world’s greatest show", featuring 191 pavilions. Very soon, Emirate is about to host around 25 million global community members presenting and introducing ‘life-changing’ innovations for a better future. As the theme for Dubai Expo 2020 is opportunity, mobility, and sustainability, the UAE government is opening doors for entrepreneurs and foreign investors to enjoy more benefits and opportunities having business startups in Dubai. 

4. Easy business setup:- Dubai is a world of professionals and business leaders. They have set everything easy for business conducting to save time and funds in a way that can result also in profits. From setting up to maintenance, Dubai leverages flexible and comfortable regulations for businesses. Business license in Dubai is an essential step to have business but even that carries an easy process. Renewal of license is equally important for easy business conduct. There are various agencies in Dubai which help in documentation, paperwork, and approvals which simplifies the entire process and maintenance of business setup.

5. Technological reforms:- With the vision of becoming a smart city, Dubai started implementing technological reforms by applying the latest technological tools, such as blockchain, virtual reality, and artificial intelligence. With digital transformation, the country is also investing in making the country sustainable for residents, families and visitors. Also, Dubai 2040, the Urban Master Plan is also in process. Having these plans underway is showcasing more beneficial opportunities for visionary entrepreneurs.

The rapid advancements in Dubai are opening more opportunities for foreign investors and entrepreneurs. The UAE is perfect for the growth and success of businesses. Get your company established in Dubai.