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Dubai: Providing A Desirable Environment For New Companies

Company setup in Dubai has a competitive advantage over different countries for the following reasons

Saturday August 24, 2019 12:20 PM, ummid.com News Network

Dubai Business

If any entrepreneur or potential investor gets a chance to start a company in a country other than his home country, then we’re pretty sure that he will do tons of research at his individual level and will consult each business nerd he knows. Long story cut short - he will devote a lot of time and energy just to decide a country where he can set up his company hassle-free. And that’s not the end, as the entrepreneur needs to look at the long-term benefits that he is going to reap from that country and also the challenges he is going to face there. Well…. now that seems a bit challenging.

So, if you are reading this post, we are assuming you are one of those aspiring entrepreneurs who want to set up a company in the country which is considered as one of the most sought-after country for starting new ventures - DUBAI.

Apart from being the one of the most visited destinations by the tourists around the world and popular for rich lifestyle followed by its residents, Dubai is one of the most intriguing investment options for many potential investors and entrepreneurs around the world.

Company setup in Dubai has a competitive advantage over different countries for the following reasons:

1. Rules regarding company formation: Many Global conglomerates have created their bases in Dubai and one of the major reasons for this is ownership rules prevailing there as they are simple and easy to follow. In addition to this, legal process regarding the company formation in Dubai is simple and speedy.

2. Dubai’s Strategic Location: Dubai is having a unique strategic location, which is good from business point of view. It is adequately connected with all the developed nations of Europe, Asia, America and Africa by airways and waterways.

3. Market Characteristics: The market of the Dubai is a huge one. It is diversified and provides the same level of opportunities to the both developing and established businesses. Moreover, cheap energy resources are available here and fortunately, there are minimum quotas, exchange controls and stringent import-export laws.

4. Tax benefits: Do you know that any business established within a free zone (a special zone declared by Govt.) enjoys numerous tax benefits such as zero percent corporate tax, professional tax and minimum custom duties.

5. World class infrastructure and Support system: This is to the knowledge of many people that Dubai is having one of the best infrastructures in the world whether we talk about its transportation or telecommunication services or industrial infrastructure.

Also Read: | Dubai company launches world’s first ‘halal’ wine with zero alcohol

Stable Political conditions: Unstable political conditions are a disaster for a country’s economy and in turn for its corporate sector. But stable political environment just like Dubai is having, creates economy booms to that country and reflects its financial strength through its strong markets.

Types of businesses that you can set up in Dubai

1. Limited Liability Company

A Limited liability company holds the same meaning in Dubai as in other parts of the world. For Establishing an LLC in Dubai, 51% ownership needs to be kept with any local sponsor and the remaining 49% stake may be held by the businessman.

This ownership structure may sound a little unsecure, but it’ll be a surprise for you to know that more than 88% of businesses here in Dubai follows this investment structure and it is absolutely safe as long as you are possessing valid and required documents.

2. Free Zone Company

Free zone companies usually appear more attractive to the foreign investors in Dubai, that too for a good reason. There are numerous incentives which re offered by the Dubai Govt. to the free zone companies such as repatriation of capital and profits, no currency restrictions, 100% import-export tax exemption and much more.

Free zones are basically those cities of Dubai where Govt. wants to promote trade and business activities and offers many incentives for achieving the same objective.

3. Offshore Company

If you are looking for a cost-effective way to start your business in Dubai, then establishing an offshore company is the way to go for you. The reason of it being a cost-effective option is that it does not need a corporate office or any local sponsor.100% stake remains with the beneficial owner. Other benefits are easy incorporation, cost advantages and asset protection. An offshore company is a type of company which is incorporated outside the country where the investors are residing.

If you are still confused about how to begin with, there are specialized professionals to provide assistance at each and every step regarding company formation. Some of the finest business consultant firms are available here in Dubai, which provides personalized services to their clients beginning right from the incorporation of the business to the commencement of business operations.

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