Firm creation providers Dubai 2023: What makes Dubai so good for business ? Dubai has made world news time and time again with its significant investment in infrastructure. The Burj Khalifa remains the tallest man-made structure on the planet, while man-made islands and peninsulas represent the pinnacle of geographic engineering; the Palm Islands are instantly recognisable, providing temporary and permanent accommodation solutions in an eminently stylish fashion. These examples extreme, but represent well the city’s commitment to its infrastructure. Nothing is done by halves, and businesses can comfortably operate in the knowledge that their every need will be catered for. Dubai is a playground for new businesses.
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What is a free zone? Free zones are geographically demarcated areas within the UAE (even if most of them are not fenced or gated) permitting 100% foreign ownership and are in most cases, dedicated to a specific industry. They were designed to support strategic transformation in key industries (e.g. finance) and many are built with public finance and boast state-of-the-art facilities. For instance, the Dubai Media City – a free zone in the emirate of Dubai – has infrastructure and licences adapted to the needs of the media industry. Similarly, the Dubai International Financial Centre (DIFC – see below) attracts companies in the financial services sector, drawing in insurance, financial services and investment firms and banks wanting to grow their international client-base.
Accessible geographic location: Dubai is situated in the heart of the UAE, a country located in the Arabian Gulf, bordered by Oman and Saudi Arabia. Placed right in the middle of the Gulf countries, the Indian subcontinent, the Commonwealth of Independent States (CIS) and the African region, Dubai enjoys a tactical position that enables it to offer unrestricted prospects across a wide range of sectors. Multi-cultural/multi-lingual society: Dubai is home to people from over 200 nationalities, all of whom live and work in harmony and in unison. This means that no matter where you bring your business from, no matter what part of the world you belong to, Dubai will always feel like home. This makes it easier and much more socially fulfilling to do business, as you are likely to find people of your nationality who are already living and working here.
Benefits of free zones: With more than 50 different free zones across the UAE and with many more under development, free zones have helped make the UAE an attractive option for foreign businesses looking to relocate or expand their global footprint. The common benefits of doing business in a UAE free zone include: 100% foreign ownership of the enterprise; Access to world class logistic facilities; Availability of a large pool of multicultural, skilled professionals; Benefits from economies of concentration (given the zones dedicated to industries); Ease of recruiting international employees, with all free zones providing one-stop-shop services for work visas; Tax holidays – usually guaranteed for 15 or 50 years; 100% import and export tax exemption; 100% repatriation of capital and profits; Corporate tax exemptions for up to 50 years; Eligibility to apply for the UAE Tax Residency Certificate.
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