Entrepreneurs and investors choose Dubai as their best option for building their businesses or expanding their companies. This is mostly due to the diverse and dynamic nature of Dubai, which provides an advanced infrastructure and the utmost comfort. Consultancies that do business setup services in Dubai can assist business owners in reaping every possible benefit of Dubai that can contribute to their business. Everything, including a supportive business ecosystem, a strategic location, tax exemptions, a demanding marketplace, and more, could be found across Dubai.
This cosmopolitan city in the United Arab Emirates is the most populous destination and attracts millions of tourists every year. Besides, this land of opportunities in the Arabian Peninsula also attracts thousands of expatriates and investors. All these could be a short answer to the question of why is Dubai an ideal location for launching a business. An elaborated version of the answer to this question can be found in the following section of this blog.
High demand for products and services
Over 3.4 million people, spread among more than 200 cultures and nationalities, are currently living in Dubai. This, along with the attributes of the city that attract millions of tourists and business travelers, increases the demand for products and services. What makes the visitors and the residents of Dubai so special is that most of them come from the high-income class.
They are ready to pay money to any extent for the quality and innovation of the services and products. You can acquire more exposure for your business by participating in various mega-events like the Dubai Shopping Festival, the Dubai International Film Festival, and more.
A supportive ecosystem for entrepreneurs
Businesses in Dubai have access to the biggest crowd of funding, mentorship, networking, and training. This supportive ecosystem, along with facilities like co-working spaces, business startup centers, etc., helps startups grow. Anyone who is considering a business setup in Dubai also gets access to several government initiatives and programs that support business activities.
The list of initiatives and support programs includes the Dubai Startup Hub, the Mohammed Bin Rashid Innovation Fund, the Dubai Future Accelerators, and more. All these schemes deliver supervision, resources, inducements, and scopes for teamwork with public and private entities.
Strategic location and connectivity
Dubai is the gateway to global opportunities by opening its doors to several continents from a strategic location in the Middle East. You can access the emerging and established markets of Asia, Africa, and Europe effortlessly from Dubai. Dubai International Airport is the busiest airport in the world, with more than 90 airlines flying back and forth across 240 destinations. A large market of more than 2 billion people could be reached in a four-hour flight radius from Dubai.
It also has an excellent sea transport system that connects to over 140 ports globally and a land transport system that connects other developed countries, including Saudi Arabia, Oman, and Bahrain. Any business can find Dubai as its prime location for trade, commerce, and logistics, given the location that connects the East and the West.
Favorable tax system and business-friendly policies
Foreign investors and entrepreneurs are more attracted to Dubai due to the favorable tax regime and business-friendly policies offered by the government. Dubai is considered the most tax-efficient location in the world with its liberal approach to personal income tax and corporate tax. Oil companies and foreign banks are the only ones that need to comply with taxes.
Several free zone locations in Dubai offer full ownership of the business to foreign entrepreneurs and investors. This allows business owners to enjoy complete control and the profits of their business, unlike any other business location in the world. A world-class infrastructure, along with an efficient practice to set up and operate business activities, also comes under the benefits of the free zone in Dubai.
A stable and business-friendly environment that helps entrepreneurship reach greater heights is one major plus point of Dubai. The leadership of Dubai is a team of great visionaries who are committed to fostering a sustainable metropolis. Foreign investment and competition are encouraged through the free market economy approach of Dubai. Above all, the law of Dubai protects businesses and owners like none other, with rules to protect intellectual property rights, contracts, and conflict resolution.
A diverse and talented workforce
Businesses in Dubai have great access to a large pool of talented workers across all working sectors. A population of 200 nationalities with people speaking over 140 languages opens the biggest catalog of a young, educated workforce for businesses. 50% of the overall population of Dubai consists of young minds under the age of 30, with a literacy rate of over 90%.
The high-quality lifestyle and the competitive pay packages attracted more youth to Dubai. All these allow businesses that invest in the workforce to provide quality services and grow together in the global market. The government of Dubai also has initiatives for human capital development that contribute greatly to nurturing the best-quality workforce in the world.
A vibrant and dynamic culture
Creativity and collaboration have great potential in the Dubai market since it is a land that has a vibrant and dynamic culture. Diversity and tolerance are greatly celebrated in Dubai, and it is the place where several cultural events and festivals take place throughout the year. The rich heritage of Dubai is thriving with architectural beauties across the city that include museums, souks, and monuments. Dubai also presents splendid entertainment possibilities, such as restaurants, cafes, cinemas, theaters, and more.
Build your business in Dubai
Anyone who plans to start and expand their business in Dubai has all the above-mentioned benefits and amenities to effortlessly run their business. Those who are confused about the process of company formation in Dubai can connect with our experts in Damaar for complete assistance. Our crew will deliver you current data on the market and the business potential in Dubai. You will be able to acquire great scopes and business prosperity in a city that embraces innovation, diversity, and excellence.