Multinational companies and conglomerates have started conducting business in Dubai over the years. From recreation and entertainment to finance and construction, businesses in various domains have established ventures in Dubai.

Whether an international fashion outlet or a restaurant that offers exotic cuisine, Dubai has it all.

Reasons Why Dubai Is Ideal For Business

There are several reasons why Dubai is best for business, and why companies are considering Dubai as their first preference for potential expansion –

1. Convenient Geographical Location

Dubai is situated midway between the east and the west, which provides a convenient linking of the two worlds. Dubai has both a seaport and an airport, which favors the logistics business.

Therefore, companies that deal with international trading, tourism, import and export, as-well-as logistics have found Dubai an ideal place to conduct business.

1. Skyscrapers & State-Of-The-Art Infrastructure

Dubai has some of the grandest infrastructures with an accessible public transport system. The renowned Dubai metro connects the length and breadth of the Emirate.

Dubai taxi, tram, buses, and water taxi (abra) facilitate seamless transportation across the Emirate. Besides this, the Emirate also houses a world-class airport that offers convenient traveling to other countries.

3. Convenient Political & Economic Conditions

The Dubai government has provided the right political and economic conditions to ensure that a business thrives. The government that rules the country is reliable and a visionary regarding the advancement of the Emirate.

The government provides top-notch infrastructure, education, residences, health, and recreation, all of which attract more organisations to conduct business in this region.

Dubai is investor-friendly and offers several means to start a business. Moreover, compared to the rest of the world, Dubai is considered safe both for residents as-well-as investors, making it an ideal country for investment.

4. Free Trade Zones

Free trade zones are regions where ex-pats can invest in a company without partnering with an Emirati Sponsor. These zones provide investors with complete freedom to manage the business and experience several facilities granted by a free trade zone.

1. Venues With International Standards

If you wish to organise international conferences or company meetings, you can easily find a venue with international standards in Dubai. Most hotels offer top-notch conference facilities alongside providing world-class accommodation and fine dining.

1. No Income Taxes

Being a nation free from income tax, this becomes a primary reason why Dubai is best for business. This perk implies that individuals who invest in the country are not liable to pay any taxes to the government in any manner.

However, there is a recently introduced VAT (Value Added Tax). The VAT in the UAE is narrowed only to specific goods and services. Value Added Tax is set at 5%.

1. Expat-Friendly Visa

After establishing a business in Dubai, you can conveniently secure a UAE residency visa. This visa lets you lease property, purchase a vehicle and conveniently travel in and out of the country. If you are a UAE visa holder, then obtaining a Schengen visa becomes convenient.

1. Healthy & Jolly Lifestyle

Whether you reside in the Emirates as a bachelor or with family, you will always find something amusing happening around you.

Dubai features a plethora of relaxation avenues, parks, eateries, and shopping centres, making it ideal for all age groups and all kinds of individuals.

Besides this, UAE also has an enormous ex-pat population. You can easily find people from different nationalities, and this is why UAE is good for business.

Tips To Establish A Business In Dubai

If you feel convinced about conducting business in Dubai, here are some tips that might help you facilitate the process and achieve success –

1. Pick A Niche

Your first step should be to decide on what business to establish in Dubai because the license that you receive will depend on the preferred business type. The type can be a professional, commercial, or even an industrial business.

1. Ownership

There are two classes of ownership of a business in Dubai. If you obtain a license in any of the free trade zones, you enjoy complete ownership over the company. However, if you establish a business outside the Free Trade Zone, you have to find a local partner.

This local partner can be a person or a firm, and they are not mandated to support financially for the start-up. The Department of Economic Development (DED) handles all licenses and can even impose restrictions on ownership.

1. Choose The Location

Your next step is to pick the right location to establish your company. The right region is where you can easily find customers who wish to interact with your business.

 Al Karama area is famous for Asian eateries, and the Jumeirah area features several Arabic and continental joints.

Areas including the Media City, JLT, and Internet City host several media and technology companies. Once you finalise the business operation region, ensure that all the essential facilities such as storage, communication, and adequate space are available.

4. Visa Obligations

You require a residence visa to conduct business in Dubai. Once your business is set up, the government will offer you a certain number of visas. These visas will depend upon the square foot of your office space.

If you run an on-shore business, then you will require the assistance of your Emirati sponsor to secure the visa. The sponsor will first apply for your visa as a shareholder in the business and subsequently, you can appeal for the visa of your staff.

1. Registration

Your final step is to prepare a memorandum of association (MOA) with the sponsor, which you must submit to the Department of Economic Development (DED) to seek their approval.

Several legal corporations in Dubai can help you chart the agreement. You must ensure that the settlement enlists the exclusive arrangement with the sponsor that mentions the ownership percentage.

Submit the MOA, along with the license application to DED along with the legal documents such as the certificate of incorporation, director and general manager, passport copies of each shareholder as-well-as the tenancy contracts. 

Final Words

If you are looking to expand your business abroad, consider Dubai as a potential option. If you have established a comprehensive business plan, know your way around the local business rules and regulations, conducting business in Dubai would be fruitful.

Be sure to go through all the tips mentioned above to help streamline establishing a successful venture in Dubai and ensure that you submit all necessary credentials.