Top 10 Reasons that Make Dubai Most Loved Destination for Startups
Dubai has been ranked among the top five global cities for entrepreneurs and boasts a location which gives easy access to three different regions of the world, largest port connection, tax-free business environment, safe and secure city equipped with the best infrastructure, transportation and workforce. Entrepreneurship is one of the primary pillars of Dubai and its development plans. The city provides everything under an umbrella for entrepreneurs and start-ups to make their ideas come true. With dedicated shared work space to offices start-ups have option to choose from. Dubai has many comprehensive packages for startups, future business opportunities, range of networking options in trade fairs or workshops. There is list of reasons but in below lines, we will discussed the top 10 reasons that attract startup and make Dubai as most loved destination to setup their business.
Top 10 reasons why Dubai is the most loved destination to start a business.
Security
First and foremost is the level of safety. Dubai is known as one of the most safe and secure city with almost zero crime rate. The alertness and smartness of security forces and Dubai police ensures that the residents feel safe. Dubai is known to be one of the safest cities to do business. Strong law and order system in Dubai makes sure to provide every employees and their families a safe environment to live, grow and prosper.
Tax haven
Dubai has no corporate and income tax on businesses. Starting 2018, with the introduction of 5% VAT which is applicable on goods and services. This makes UAE a hotspot to start corporate entities. VAT in Dubai comes with a boon as it boosts the country’s welfare system which at the end provides more scope to budding entrepreneurs with their business start-ups.
Easy visa procedures
Getting a residence visa has become very easy with setting up a startup in Dubai. One can now obtain an investor visa which is valid for 3 years and sponsor their families. There is no of other ways to get residence visa in Dubai which also enables leasing property with a longer lease period, travelling abroad frequently without any worry about visa getting lapsed and earning a Schengen visa very easily. All these new positive changes in visa regulations are set to attract a new generation of business leaders to the Emirates.
Robust business legal structure
There are different Free zones and even professional license (depending on activities) in mainland where expats can own businesses without partnering with UAE National. Earlier this year, the UAE government announced its decision to allow a new visa system for international investors, which includes a long term 10 year visa for certain categories of professionals, business owners and property owners.
Modern business infrastructure
High rise buildings and ultra modern corporate locations provides the best infrastructure to start business in Dubai. Be it any commercial location, warehouses or industrial areas, you can find the best ranging from a minimal cost to a high end setup. Dubai offers businesses the best amenities and commercial facilities like plug-in offices, furnished retail stores and manufacturing units. In a Freezone startup the governing bodies provide their own warehousing facility, office spaces, power supply, internet connectivity, and so on, all include in license cost which helps investors to save on office rent etc.
Logistics hub
Dubai is a major hub for air transport. Similarly, the water and road transport are equally good. It is well connected with Asia-Pacific, Europe and Middle East regions. This makes Dubai one of the best choice to do all kind of business operations. To make the best out of its existing coastline, Dubai has built the world’s largest man-made harbour – Port Jebel Ali. Other man-made islands like The World and Palm islands allow businesses to offer their customers a whole new experience with exclusivity and luxury.
Entrepreneurs revolution with Expo 2020
There are numerous trade fairs and seminars held in key locations which enable many entrepreneurs and like minded people to meet and discuss. It also helps them to expand their business by expanding their network. The Expo 2020, planned to take place in Oct 2020, is expected to bring a significant demand for local entrepreneurs, mainly beneficial to startups specializing in events planning, hospitality and other vendors offering services and supplies for events.
Trading Hub
It’s a trading hub where goods from all over the world are brought here and then exported to different parts of the world. Dubai is located midway between the east and the west. It has both seaport and airport that makes logistics easier. Business related to international trading, import & export, tourism, and logistics are the most booming industry.
Home of around 200 nationalities
The city is open to expats from all over the world. This enables businesses to hire employees from different nationalities which eventually benefit them in developing deeper client relationship as they have people eloquent in different languages and culture. The Government has a long-term vision regarding the growth of the emirate, hence provides the best infrastructure, residences, education, health and recreation because of which businesses are increasing day by day in this region. Thanks to the attractive salaries and a high quality of life, many expats come to Dubai to earn a better living.
Government initiatives
Last but not the least, the dynamic administration and leadership which have put in their all to create a prospering city for their residents, for both expats and their own nationals. Opportunities like long term visa, golden visa and new laws to support SME have opened doors for the expats to invest in the city and get a bountiful in return. His Highness Sheikh Mohammed bin Rashid Al Maktoum, has launched the youth station initiative to support the startup ecosystem in the country. Under this initiative, free work spaces equipped with essential services and tools will be provided to support the launch of new startups to help young people start their own businesses. The initiative aims to support young entrepreneurs and their startups in highly competitive markets.
All these and many more reasons have made Dubai emerge as one of the most popular business hub of the world, which not only gives opportunity to ambitious entrepreneurs but also fulfill dreams of everyone who comes with a hope on this land. So what are you waiting for? Visit www.flyingcolour.net or call us at +971 4 4542366 today and explore the business opportunities in Dubai with us.Blog is written by Ms. Nirmala Business Advisor, feel free to call +971 4 4542366 today for a quality consultation relating your Business queries or please send inquiry to info[at]flyingcolour[dot]com.
