If you are someone that is thinking about opening a new office for your business in Dubai, you are not alone! In fact, you share and harbour a thought that thousands of businesses and entrepreneurs all over the world are currently thinking about.
Right from the time someone first steps foot in Dubai, they understand that this is a destination where they need to have an office and operations. With Dubai being ranked by the World Bank as the 13th most preferable destination to start a business, everyone can see the attraction.
With the region experiencing astronomical growth in almost every aspect, this is probably the best time to put your plans into action. In this article, we are going to look at some major reasons why every business is planning to open an office in Dubai.
Dubai: The New Global Powerhouse
In the last two decades, the UAE, which is composed of 7 Emirates has become a major world player. Two of its Emirates, Dubai and Abu Dhabi are slowly emerging as leading centres of global growth and progress, not only in Asia, but also in the entire world.
With the country moving away from an oil-driven economy, the government of the land is trying to build into one of the world’s major hotspots. The following are some of the biggest industries that are experiencing substantial growth in Dubai-
- Residential and Commercial Real Estate
- Hotel, Hospitality and Leisure Industries
- Green Energy Innovations (Solar Energy)
- Travel and Tourism Industry
- Manufacturing and Heavy Engineering
The UAE has attracted a large population of Expats from different parts of the world who now call it their home. They are attracted to an elevated standard of living, little to no taxes, great income opportunities, and the great plethora of public services that the government offers.
You might have heard how Dubai is the Supercar Capital of the World! Many state that buying a supercar here is as easy as walking into a departmental store and coming out with a bag of groceries!
The New Financial and Commercial Capital of the World?
In this section, we are growing to list down some major reasons why Dubai has emerged as the new financial and commercial capital of the world-
1. A Booming Economy-
The growth of Dubai’s economy can be attributed to the pro-business nature of the kingdom. The government is committed to creating a free market economy with the greatest possible benefits for entrepreneurs and businesses.
The creation of the Dubai International Finance Centre of DIFC is a testament to that. By working with a law firm in DIFC, you will be able to set up a business office in one of Dubai’s best commercial districts with tax benefits.
2. Friendly and Flexible Business Laws that suits all-
While some countries of the world continue to be rigid with their business laws, Dubai has made it a point to offer flexibility. This means that no matter what kind of a company you are, you can successfully go for incorporation, reap the benefits of faster paperwork and enjoy several tax breaks.
When you compare this to any part of the world, this is practically unheard of. This is a major incentive to businesses that are always looking for such concessions.
3. The World’s Leading and Biggest Talent Pool-
Some of the world’s most qualified professionals have shifted base to Dubai from their home country. A better life, higher salaries and tax breaks along with a warm climate is what has led them to call Dubai their new home.
If you are looking to open an office in Dubai, you can rest assured that there will be no dearth of professionals when it comes to hiring for the top positions. You are going to benefit from their experience and professional expertise.
The Final Takeaway
We intentionally left out the point on tax concessions and breaks since it has already been publicized by one and all. With the pandemic coming to an end, this is the perfect time to plan your move to Dubai. If you have any questions on how you can get in touch with a business lawyer, or want to discuss any other aspects regarding company formation in Dubai, please reach out to us in the comments below.