The United Arab Emirates is famously one of the most financially attractive locations in the world. With a well-developed economy, excellent infrastructure and a low tax regime, it’s no surprise that this is one of the most sought-after locations for businesses across the globe.
But setting up a company in the UAE isn’t a straightforward process, as businesses are required to follow strict bureaucratic procedures before they can begin trading in the country. Having the right support and guidance will not only ensure you stay on track with your business set-up, but it will also prevent you from incurring in late submission fees and penalties.
Out of the seven emirates of the UAE, Dubai is arguably the most popular, holding great significance as a business hub. As the government opened the gates for various types of business setups from around the globe, both the city and foreign investors started enjoying the many benefits of starting a company in Dubai. The city is now a true financial power, but what makes it so?
At Time & Motion PRO, we specialise in supporting businesses relocating to Dubai, so, to give you a few of our expert tips, we have put together a guide to the benefits of setting up a company in Dubai.
7 Benefits of starting a business in Dubai
The bureaucratic process behind setting up a new business or relocating an existing one to Dubai can be intricate and, at times, confusing. To keep things simple, here are 7 main benefits of starting a business in Dubai.
Assisted business set-up
Although setting up a new business in Dubai might be daunting if done alone, resorting to the help of a PRO (Public Relations Officer), will take a weight off your shoulders, ultimately streamlining the process. Setting up a business in Dubai with the help of a PRO is now easier than ever and only requires a few days to be completed.
By choosing to liaise with a Public Relations Officer, you will be able to focus on your business objectives, while someone else takes care of the tedious paperwork and bureaucratic process.
Access to a pool of expatriate employees
Dubai is known for being home to one of the largest communities of business ex-pats. This gives companies access to a greater pool of talent when recruiting in Dubai. The same goes for business opportunities from a financial perspective. In fact, this is home to some of the biggest investors in the world, who decide to do business in Dubai and reap numerous profits.
It’s also worth mentioning that Dubai has successfully expanded from the oil business in recent years, gaining widespread popularity in industries like tourism, logistics and hospitality, which currently account for 60% of Dubai’s GDP.
One of the most prominent and sought after benefits of starting a business in Dubai is tax exemption. This is in fact one of the main motivators of professionals and businesses relocating to the area.
Dubai offers exemption from any kind of tax, from income to corporate, however 5% VAT is applicable on certain business activities.
When you decide to set up a business in Dubai, you can decide to either locate this in a mainland region or in a free zone. Dubai in fact has 20 free zones, where entrepreneurs and business owners can have complete ownership of their company. Ultimately, business setup in a Dubai freezone means a 100% repatriation of profits earned and capital invested.
An added benefit of setting up your company in a Dubai free zone is being able to collaborate with others within the same industry.
Access to advanced technology
Though the UAE in general is incredibly advanced from a technological point of view, Dubai is one of the Emirates with the most advanced digital facilities. This is in fact on the way to becoming the world’s digital hub, anticipating a technologically powered future.
The city promotes and incentives opportunities to conduct business online, taking plenty of tech initiatives when it comes to reducing traffic, providing world-class internet services and transforming healthcare services.
Dubai sits in a hotspot geographically speaking. The Emirate is in fact at the crossroad between East, West, North, and South, creating a natural bridge between the manufacturers, producers, and suppliers of significant goods from around the world.
In addition to that, Dubai is home to some of the busiest and most active ports in the world, with both seaports and airports situated in well-connected locations for logistics and connectivity. This helps the import-export and tourism businesses flourish in Dubai and the UAE in general.
The Emirate also has a great public transport system, making it an ideal location for both business-owners and employees to enjoy a healthy work-life balance.
Something not everyone may know is that the Dubai government is amongst the most involved, helpful governments in the UAE, never failing to provide top-notch facilities, incentives, and safety to foreign investors.
The rules and bureaucracy around setting up a company in Dubai are constantly being amended to ensure advancements and increasing business opportunities in the city. The government is often organising international events and initiatives for business expansion, offering a fixed set of rules and regulations in order to conduct business.
All professionals and entrepreneurs must adhere to these rules for a smooth business setup and functioning in Dubai.
How can Time & Motion help you start your professional life in the UAE?
At Time & Motion, we offer specialist PRO services to assist you in the process of setting up a business in Dubai. Our team of experts will guide you every step of the way, helping you navigate the bureaucratic processes of setting up a company in the UAE and assisting you with any further requests you may have. We can in fact support you in relocating your family to the UAE, advising on what the most efficient ways are to establish your new business and life here in Dubai.
After completing the relocation, we provide our clients with the full support they need in terms of corporate services and services to private individuals. We can help with setting up your business in a free zone as well as assisting you in receiving all the necessary licences and agreements so that you can focus on getting your life started in Dubai while we take care of the legal paperwork.
Our Public Relation Officers can provide you with all the necessary information for company formation in Dubai, offering you a laid out plan which covers the entire process, from start to finish.
If you’re thinking of relocating your company to Dubai or would like to know how to start a business in Dubai, get in touch with us today and one of our expert PROs will be able to assist you with tailored advice, arranging all required documents for you to acquire your business license at a no-fuss, lower cost.