One of the most beautiful cities in the United Arab Emirates, Dubai is widely regarded as a paradise for tourists. Dubai lies just off of the Persian Gulf. If you look at the pictures of Dubai in the early years of the past century, you might be surprised to see large patches of barren land. Dubai emerged as a global city within the last three or four decades, when development started at break-neck speeds. Today, Dubai is home to some of the tallest buildings in the United Arab Emirates. Fuelled by the oil revenue that started pouring in from 1969, Dubai quickly became a world leader in the imports and exports market.
Today, Dubai is the financial and commercial hub in the Middle East, and ranks as one of the best destinations for tourists from all over the globe. Almost all of the world’s biggest brands from different industries like fashion, tech and others have their outlets in Dubai. Tourists end up contributing to a significant portion of the gross domestic product of Dubai. If you are thinking of setting up your own business, it makes complete sense that you would do so in Dubai. Here are just some of the many reasons that might convince you.
Legal Relaxations
The government in Dubai actively promotes investment from foreigners. If you are thinking of setting up a business here, all you have to do is arrange a meeting with the local council and explain your vision. Many of the world’s largest chains have outlets throughout Dubai, and the local government offers plenty of relaxations to individuals who are looking to set up their business in Dubai. You will be able to take advantage of relaxed taxes and other incentives, which will help you get your business off the ground much quicker.
Easy to Set Up
Business setup in Dubai is also relatively easy in comparison to other places. You don’t need to spend hours poring over documents in order to get an idea of the legal regulations in Dubai. There are a number of local administration companies that offer business setup services. The company will take down details about the kind of business that you want to set up. Once you have provided all the relevant information, the company will fill out the applications and documents for you.
Most local companies that offer administration and formation services generally charge a pretty affordable fee for their services. You don’t have to go through the hassle of registering the company with the local registrar. The administration firm will draft the memorandum of association and the articles of association, and will get you the certificate of commencement of business within a few weeks. You can then proceed to choose a place to start your office and set up capital accounts. Within a month or so, you will be cleared for doing your business. These are just some of the many reasons why Dubai is such a fantastic place to do your business.