Top Reason for setting up the business in Dubai in 2019
The reformation of Dubai has made way for the entrepreneurs and business owners for expanding their services and to set up a business. Dubais global commercial capital with aggressive legal reforms the boosting of foreign investment which includes long term visas and introducing free zones for business operations.
Some of those conditions enables the business setup in Dubai and converts it into incredibly attractive for the foreign nationals. Lets get to know about the top 5 reasons for establishing the business in Dubai.
Commercial Capital
In recent days Dubai has taken the lead in the race of regional trade and business hub, and is identified as one of the commercial capital of the Middle East city. A recent survey states that Dubai is ranked as 15th of the commercial centers in the world. The well connected transport system and low tax business are the major reason for its global ranking. Additionally, the citys geographical presence is in between the Europe and Asia. Hence it is good to start business in Dubai.
Growth in the non-oil economy
Besides oil and other diversify sectors, the emirate is looking for other options to grow its economy. A report earlier this year stated that the UAEs central bank said economic activity in the non-oil sector were expected to improve in 2019 as a result of stimulus packages announced by Abu Dhabi and Dubai and other economic initiatives to ease the cost of doing business in the emirates. The UAE has introduced a range of rules and regulations which a favorable to businesses operating within its borders, and plans to introduce more in the near future.
Expo 2020
The world Expo 2020, an event hosted by Dubai is scheduled to kick off in October 2020. It is expected around 25 million peoples may visit for 173 days from various neighboring countries. From those count 11 million were from Dubai and the remaining 14 million from other overseas countries. This may lead to a massive tourism boost and it may be a great time for the business in city. The expo comprises of presentation on energy, technology, finance and other sectors.
Long term visas
The announcement of new long term visa laws that will be granted to the foreign population, particularly investors will consolidate Dubais position as a primary location for international investors. Long term visa for the foreign investor population made Dubai as a primary location for the international investors for investing. The new regulation creates an easy and straightforward system for securing a long term visa. This arrangement makes Dubai as a commercial hub for the startups and entrepreneurs to start their business.
Free zones
There available a huge number of free zones in Dubai which encourages the foreign trade and investment. There are a variety of business activities being supported by the free zone policy making it easy for an entrepreneur to start their business at one of them. There are currently 12 free zones in Dubai at the airport, the Gold and Diamond Park, Dubai Internet City, the Knowledge Village, Silicon Oasis, Healthcare City, International Financial Centre, Sports City, the Dubai Palm Island Development, among others.
Dubai citys enhanced commercial status increases the proposition of entrepreneurs, business owners and investors of the city. At the same time Dubai is introducing more and more reforms for the foreign business here, hence Dubai is known as one of the best place to set up business.
