Benefit of setting up a company in Dubai:
With more than 3000 startups, Dubai City has become a home for new businesses. The number of startups increased by more than 120% between 2014 and 2019, according to the Dubai Chamber of Commerce and Industry. When you check these stats, it’s normal to wonder why so many startups are heading toward this city and what benefits you get if you open a setup a business in Dubai. So, today we are going to unveil 10 benefits you get for setting up a company in Dubai. Let’s get started.
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Setting up a company in with tax-free system
The very first benefit of company formation in Dubai is its zero personal tax and quite reasonable corporate tax. The income tax rate in Dubai for 2024 is only 5 to 9 per cent on profits above AED 375,000 per year. The income tax corporate rate is 15 to 21 % in both the UK and the USA. So, when you compare this rate with the Dubai tax rate, easy math tells you that you save more. This tax rate is for mainland companies. Corporate tax rate further decreases for Dubai free zone companies.
When you are doing import/export business, there are some exceptions on duty rates as well. Foreigners can set up companies in Dubai to minimize their income tax while maximizing their profit potential.
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Geographically strategic location
Take a quick look at the map and you will see the strategic location of Dubai. It is situated in the heart of UAE while businesspeople can access to Europe, Asia and Africa in cross reads. That means if you are involved in trading business or thinking about expanding your international reach, no other city is as profitable for a new company setup as Dubai.
Now if we talk about Dubai International Airport then it’s one of the busiest airports in the world. It serves thousands of flights during peak days. If you set up logistics or hospitality businesses in Dubai, then the chances of getting a return on investment will be beyond your imagination.
Read the guide about Meydan Free zone company setup
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Dubai residency
When you want to get Dubai residency then the simplest way to obtain it is to open business in Dubai. From getting a trade license to obtaining a residency permit, Prospr will handle it all for foreigners and expats. Once you have Dubai residency, you enjoy multiple benefits such as you are allowed to open a bank account and get a personal or car loan.
The best benefit is visa-free access to other countries such as South Korea, Japan, Malaysia, Philippines, Indonesia, etc. You can sponsor your family members after getting a residency permit in Dubai.
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Diverse business opportunities
There are tons of business sectors enjoying a boom such as finance, real estate, technology, and tourism. So, whether you start a new IT business or do a new company setup in the tourism industry, you can find Dubai a fertile ground to flourish and grow your business operation. As we told you before, 3000 startups are already working in Dubai. That means if you have a tech startup idea or thinking about starting a small business in the financial service sector, you can expect a conducive ecosystem in Dubai.
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Setting up a company in top-notch infrastructure
Another benefit of setting up a company in Dubai is to make the most of its world-class infrastructure. Whether you have in-house staff or you run the business remotely, a high-speed internet connection and a modern transportation system ensure nonstop connectivity. Its bustling airport, sustainable urban planning, and advanced telecommunication system make it an ideal city. You get your hands on all the resources you need to run day-to-day business operations efficiently.
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World-class aviation facility
If you are a company executive who plans to set up a company branch in Dubai will be interested in its aviation facility. It’s because you want to fly to and from Dubai. So, when you specifically look for flight frequency then you find out that Dubai offers frequent business flights. You get easy access to international airports with more than 1000s of weekly flights.
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Advanced commercial spaces
Before you get a trade license in Dubai, you need to set up an office space in Dubai. So, another benefit you get by setting up a company in Dubai is to find a wide variety of cost-effective commercial spaces. The trend of plug-and-play offices is high in Dubai. Co-working spaces are also common, so finding the most suitable commercial space to run your business operation won’t be an issue at all.
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Simple visa process
As we told you before, Dubai welcomes entrepreneurs in the city. So, if you apply for an employment and residential visa, the whole process is simple and quick. You can rent or lease a property or travel around after getting this visa.
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Diverse consumer market and workforce
Another benefit of opening a company in Dubai is to make the most of a diverse consumer market. With a 3.3 million population and its strategic geographic location, this city allows entrepreneurs to target a diverse market base. In particular, they can make a diverse expat population as their target market and grow their business at scale. As far as the workforce is concerned, businesses can easily find a highly skilled workforce in Dubai.
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Business-friendly policies
Dubai launched progressive policies to support businesses of all kinds and sizes. If you are starting a small business, then you can expect support and services from the Dubai SME agency. Free zone companies in Dubai can expect 100 per cent foreign ownership.
The city launched a golden visa to attract freelancers. In addition, the Dubai government introduced investor protection policies so that businessmen can open their businesses in Dubai without uncertainty and with peace of mind. The whole business setup process is streamlined and made hassle-free as soon as you get the services of a business consultant in Dubai such as Prospr. The legal stability of this city is another magnet that attracts business investors and venture capitalists. Business-friendly policies and practices let entrepreneurs set up new ventures with ease and confidence.
Why Dubai is the best place for setting up a company?- Wrap up
Finally, you know all the benefits of setting up a company in Dubai. Whether you plan to start a small business or a large enterprise, this city welcomes you wholeheartedly with its business-friendly policies, easy business setup, simple visa process, future-oriented infrastructure and aviation facilities.
Do you still have some questions about opening a business in Dubai? If yes, then Prosper offers the best consultancy in Dubai. Our business consultants will answer all your queries and help you to set up a new company. Book your business consultation now!
