Why should you open a business in Dubai?
Dubai has grown itself a solid reputation as a business and trade hub.
In the first quarter of 2023, more than 30,000 new business registered with the Dubai Chamber of Commerce; that’s an increase from around 21,000 in 2022.
Some reasons for this popularity are glaringly obvious – a strategic location, state-of-the-art infrastructure, attractive tax policies and business-friendly regulations. The other very, very important reason why it’s a business-positive destination is the ease with which one can start a business here.
1. State-of-the-art infrastructure
Did you know? Dubai is ranked among the world’s best for infrastructure investment attractiveness by the Global Infrastructure Investment Index? It has efficient sytems - transport, social and economic – in place. Plus, plenty of office and residential accommodations and a sophisticated financial and service sector.
2. Strategic location
Thanks to its location – which easily connects the East to the West – Dubai has garnered a reputation as networking city. It’s also got a strong connect to other business hubs such as Hong Kong, New York, Macao and London. The city is also host to several trade fairs, making networking that much easier.
3. Low levels of corporate tax
In some cases, businesses are exempt even from this newly-added tax. As per the UAE's 2023 corporate tax rule, 9 percent of a business’ profit is liable to be taxed, but only if the business generates more than Dh375,000. Those firms that generate less profit are exempt from the taxes.
4. Easy visa for business owners
Setting up a business is a quick and easy process with an agent like Ikigai Ventures; and once you have, you can easily get a residency visa not just for yourself but also for family and employees. The benefits of a residency visa are:
A] Ease of travel to and from the city.
B] Ability to open a local bank account.
C] Long-term house leases.
5. Complete ownership of business
Since 2021, expats have been able to own 100 percent of their businesses as long as they fall into one of more than 1,000 commercial and industrial categories. The full list of activities open for 100 percent foreign ownership can be viewed on: https://ded.ae/DED_Files/ded_other/Full_Foreign_Ownership_Activities.pdf
