What You Ought to Know If You Want to Start a Company in Dubai
Dubai is today known for its stunning appearance. Dubai is basically a symbol of prosperity and success. This is a motivating story with regards to Dubai’s appearance a few decades ago. Nonetheless, thanks to the spirited leadership and Dubai’s ambition and hard work, this mere desert habitation has become an economic mammoth and the place to be. The economic prosperity experienced in this area of the Middle East is quite impressive to say the least. Thanks to the Dubai government, business people are able to benefit from tax systems that are favorable and the friendly business polices, which help them succeed. Some of the things you need to know about starting a company in Dubai are discussed herein.
It is Not a Hassle For Foreigners to Start a Company in Dubai
The first economic free zone in the UAE was established by Dubai. This were to incentivize foreign businesses to set up their shops in the area. This model allows entrepreneurs from other places to keep full control and ownership of their businesses. This is advantageous considering that certain countries with different models require an entrepreneur to have a partner who is a citizen owning 51% stake on the company.
Starting up a company in a country that is using a free zone model is very beneficial for businessmen and women because they get to be exempted from both corporate and income taxes for a fifty year period. There are a variety of industries that Dubai focuses on these are the media, information and communication technology and healthcare industries. For those who plan to start a company in Dubai, they should consider joining communities such as the Dubai Internet City and the Dubai Silicon Oasis.
Dubai Business World is Very Competitive
Most entrepreneurs in North Africa and the Middle East prefer going to Dubai to incubate their businesses. This is because many business people find it hard to get visas to relocate to Europe or United States and Dubai makes it simple. Dubai has a large market base and the competitive atmosphere, which many consider to be a strengthening factor to their businesses. Entrepreneurs in Dubai Benefit from being able to network with business professionals from different capacities who offer a variety of opportunities in growing their businesses. According to research, Dubai is the best entrepreneurial city in UAE. It attracts the best talents and minds in the world.
Readily Available Local Support
For any startup to succeed, it needs all the support it can get from different people with different perspectives. Dubai is one city that is rich in resources in many ways. Those who start out in Dubai have an edge because of the professionals and well-educated workforce present there. Thanks to free zones in the UAE, anyone can succeed when coupled with the support available. All that is stopping your success is you not taking the action.
Consultants – Getting Started & Next Steps
Where To Start with Consultants and More