Beginning with the final quarter of 2020 and continuing unabatedly into 2023, a wave of good transformation has been sweeping across Dubai’s business setup scene. Dubai is the third most sought-after location for foreign investment worldwide.There exists a set of regulations that have boosted the Emirate’s appeal to investors and this rightly makes sense to move your company to Dubai in 2023. Here are some of the major justifications behind your decision to relocate to Dubai for kicking start your business.
Various Types of Visas for Permanent Residency
The UAE has implemented several reforms over the last few years intending to enhance the long-term residency aspirations of foreign investors. As a response, the UAE introduced the Golden Visa, Green Visa, and investment-related visas. This also makes Dubai, a lucrative place for foreign investors across the world.
BUSINESS-FRIENDLY TAX STRUCTURES AND REGULATORY
It’s interesting to note that many business owners that choose Dubai as their headquarters are ex-pats from countries and places with high tax rates including the United States, the United Kingdom, Switzerland, and France. Although profits are not subject to taxes in Dubai, it is still important to be aware of the local tax laws. Self-regulatory advocates point to Dubai’s regulatory atmosphere as another benefit of visiting the city. There are exemptions from corporate and personal income taxes for the 38 free zones created by the United Arab Emirates to promote international investment.
In Dubai, none of the following taxes is levied:
- Value-added tax
- Personal income tax
- Capital gain tax
- Withholding Tax
- Corporate Tax
A SAFE SETTING FOR LIVING AND WORK
The city’s cutting-edge design studios, startup hubs, and strategic partnerships provides everything to entrepreneurs who need to establish a firm. Due to its ranking as one of the safest cities on earth, Dubai has a special emphasis on health and safety. Dubai is one of the nations with the lowest rates of crime in the world. Additionally, the United Arab Emirates is one of the most stable nations. With its high level of security and political stability, the United Arab Emirates has been drawing investors and businesses from all over the world. A safe workplace is essential for a firm to succeed. In these terms, Dubai can be your foremost choice.
Policies Specific to Tech Companies
You should instantly move your base to Dubai if your startup is in the IT sector or if coding is your primary line of business. Over the next five years, the UAE plans to establish over 1,000 IT enterprises in the country thanks to a National Policy for Digital Companies. Additionally, the nation will give 100,000 golden visas to business owners, start-ups, and computer experts, particularly those in the coding area.
INFRASTRUCTURE AND TRANSPORTATION
Dubai International Airport (DXB) is one of the best public transportation networks in the world), which is served by over 100 airlines and 260 destinations. According to the Airports Council International, Dubai International Airport (DXB) is also the largest and fastest-growing passenger and cargo hub in the world.If you’re starting a business in Dubai, you don’t have to worry about locating an office, a retail store, a manufacturing facility, or a warehouse.
In the last few decades, there has been an enormous rise in the number of brand-new buildings on a huge scale for residential, tourism, industrial, and commercial usage.
Investors who are unfamiliar with UAE laws, particularly the immigration and labour requirements, will perceive moving to Dubai as a difficult procedure. But, that will happen only when we are not with you. Al Arabiya Business Set Up will assist you throughout your company formation in the heart of Dubai. To learn more, ring us today!