Dubai is a city abundant with economic potential and home to the world’s most amazing wonders. With its strong and competitive economy, doing business in Dubai has its own advantages. From the world-class infrastructure to having a strategic location, the UAE has a favorable environment that makes every entrepreneur want to start a business in Dubai.
Here’s why you should start doing business in Dubai
• Growing and diverse economy
Dubai has been the most successful economy, the city has abundant economic potential. From skyscrapers to jaw-dropping hotels, Dubai simply doesn’t cease to surprise. It is a globally strategic location and provides tax benefits that attract the entrepreneurs for starting a company in Dubai.
• Legal framework
The investment laws, regulations are perpetually improving to encourage foreign investment. This includes the introduction of foreign ownership of land and stocks. Dubai is the first Emirate to open its property market to foreign ownership.
• Availability of manpower
Due to its liberal labor policies, its easy and cost-effective to hire employees from across the world. The UAE government is investing heavily in training the national workforce that plays a greater role as competitive members of the UAE economy.
• Investment support and promotion by the government
Dubai’s economic agenda, the transformation of emirates into diversified, innovative, and knowledge-based economies to increase productivity is done by the Department of Economic Development (DED). The DED and its agencies develop economic plans and policies and provide essential administrative services to domestic and international business investors.
• Culture of excellence
Dubai has been one of the most preferred locations due to the quality of lifestyle. Although its recognized has the fastest growing city, it is one of the safest. The most luxurious hotels, and its unique culture and community, makes Dubai one of the vibrant global destination. Dubai attracts fascinating heritage and world-class shopping and entertainment facilities
The cost of starting a company in Dubai
Setting up a company in Dubai can be a progressive decision as well as challenging. The cost of company incorporation in Dubai is a vital criterion. Unawareness and absence of knowledge will lead to dangerous business decisions. The cost of business setup in Dubai depends on various factors such as business activity, jurisdiction opted approvals from necessary authorities, business license, and so on.
The cost of setting up a in Dubai varies as per the jurisdictions
1. Dubai Mainland
An LLC (Limited Liability Company) is a desirable type of business set up to be incorporated in Dubai. An LLC can be formed with a minimum of two and a maximum of 50 people whose liability is limited and the local partner is needed.
The costs involved in Dubai Mainland are:
- Obtaining a license from the Department of Economic Development (DED)
- The cost of obtaining approvals for choosing the name of the company
- Office rent
- Memorandum of Association done between the partners of the company
- Charges for the ministry of economic fees to register your business
2. Dubai Free Zone
Setting up a business in Dubai free zone has its own advantages as it provides you 100% ownership of the business. The prices of doing business in Freezones varies depending on the location
The costs involved in the Dubai Free Zone are:
- The cost of obtaining free zone license from the necessary authorities
- Office rent
- Registration cost for your business
- Hiring a local UAE agent for your business
Set up your business in Dubai with the help of MSZ Consultancy!
These are just a few of the major benefits of why it is beneficial for doing business in Dubai. A robust economy, with lowcost investment and minimal taxation, makes it one of the most preferred locations for setting up a business in Dubai.
In order to understand how to establish a business in Dubai, one has to contact business consultancy services in Dubai. MSZ consultancy is the leading consultancy in Dubai. Our team of professionals will assist you in every step along with enlightening you with the types of company formation in Dubai. Get in touch with us today!