Dubai is one of the best places to set up business operations. The conditions, rules and laws for the same are very liberal and attractive as compared to many other countries. Thus Dubai has established itself as a great economic force, attracting more and more organizations, entrepreneurs and investors to set up their businesses here.
There are many options for foreign or international corporations wanting to start operations or initiate new businesses in Dubai. They can start by creating a trading relationship. For many companies, there are advantages if they have a presence in Dubai to research market conditions, establish contacts, meet prospective customers, and finalize transactions and orders.
There are many options for foreign or international corporations wanting to start operations or initiate new businesses in Dubai. They can start by creating a trading relationship. For many companies, there are advantages if they have a presence in Dubai to research market conditions, establish contacts, meet prospective customers, and finalize transactions and orders.
According to the laws established by Dubai government, at least 51% participation of UAE citizens is the basic requirement for setting up any business in Dubai. But there are exceptions in cases if or where:
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100% local ownership is mandatory as per laws.
The business is being established in Jebel Ali Free Zone
100% AGCC ownership activities are open
Fully owned AGCC companies enter into partnership with UAE nationals.
Foreign companies open their branches or an office in Dubai.
Professional or artisan companies set up their business as they are permitted 100% foreign ownership.
100% local ownership is mandatory as per laws.
The business is being established in Jebel Ali Free Zone
100% AGCC ownership activities are open
Fully owned AGCC companies enter into partnership with UAE nationals.
Foreign companies open their branches or an office in Dubai.
Professional or artisan companies set up their business as they are permitted 100% foreign ownership.
Dubai is a haven for import businesses. For anybody who wants to establish a business, or start a business venture on their own or in partnership, there are a couple of issues one should take note of:
Dubai’s import revenue is humongous. It exceeds $14 billion annually.
Dubai’s non-oil imports have risen sharply and there is a lot of scope for greater expansion. Dubai is becoming a hub for trading and is in turn becoming a major supplier for neighboring countries.
With a growing number of expatriates, there is an increasing demand for ‘foreign’ food products, latest electronic goods and other high-end products. So Dubai is definitely a great market and there are plenty of opportunities for greater export trading and establishing export businesses.
There are no stringent foreign exchange rules, quotas or conditions. The import duties are low, and many products are exempt from taxation.
The transportation facilities from the port to warehouses are unmatched in terms of efficiency and operations. So it is easy to transport and store goods in less time thus increasing profit margins.
Dubai’s import revenue is humongous. It exceeds $14 billion annually.
Dubai’s non-oil imports have risen sharply and there is a lot of scope for greater expansion. Dubai is becoming a hub for trading and is in turn becoming a major supplier for neighboring countries.
With a growing number of expatriates, there is an increasing demand for ‘foreign’ food products, latest electronic goods and other high-end products. So Dubai is definitely a great market and there are plenty of opportunities for greater export trading and establishing export businesses.
There are no stringent foreign exchange rules, quotas or conditions. The import duties are low, and many products are exempt from taxation.
The transportation facilities from the port to warehouses are unmatched in terms of efficiency and operations. So it is easy to transport and store goods in less time thus increasing profit margins.
Dubai- A Land of Investments
Dubai has a 20-year track record of strong economic growth, infrastructure development and political stability. In the recent years, the city has been a continuous attraction for foreign investors. Once regarded as the business hub of Middle East, Dubai is now known as the international business, and re-export center. Also, the number of tourists coming to Dubai is increasing year by year. These are enough reasons to make one say that the city is emerging as a land of investment.
Over the past decade, Dubai has transformed into a global business center with lots of foreign companies launching their operations and opening their branch offices here. The attractive currency rate in U.A.E, the tax-free policy and low price of properties have attracted foreign investors from all over the world to Dubai. From a land of vast deserts and people making a living by dates farming, the city has changed into a thriving modern metropolis with strengths in technology, trade, service and manufacturing, fortifying the economy and bringing huge foreign investments.
The geographical proximity of the city combined with the talents and markets of the Middle East, Indian subcontinent, and northern and southern Africa complimented with the sophisticated infrastructure facility, Dubai is racing fast on the road to become a thriving business hub. As a tax-free port in the world, with no sales tax or income tax, Dubai has become an ideal and lucrative location for foreign investors to start their business or open a branch of their company.
Additionally, Dubai is now emerging as the biggest property market in the world. The tax free salary offered by companies in Dubai makes it affordable for the residents to stay in high-rent accommodations. Therefore, the boom of the property market may last for long and this will provide a lot of investment opportunities to foreigners.
2002 and 2006 have been two great years for the property market in Dubai. The measures taken into these two years have resulted in helping the Dubai property market becoming mature and develop into a strong investment sector for expatriates. The market is now in full capability to cater to the ever increasing housing demands for inward immigrants in Dubai.
Dubai has a very diverse population, comprising of people with multiple nationalities and ethnic origins, living together. Census records indicate that 17% of the population of Dubai is UAE nationals, while the remaining population is distributed into the immigrants from neighboring countries, expatriates and temporary residents with work related or other visas. With the increasing number of businesses and multinational companies starting operations in Dubai, the inward migration of professionals and their families is also mounting. The tax-free salary in Dubai is one major attraction for professionals from world over to relocate to this city. Additionally, it is the wealth of job opportunities and leisure activities that attracts foreigners to Dubai.
With this trend of increased migration to Dubai, the housing needs
in Dubai are also escalating. As many of the companies are offering high tax-free salaries to expatriate employees, the rent is affordable to most of them. Earlier it was not possible for expatriates to buy residential or commercial property in Dubai. But now with the implementation of new freehold property law, expatriates can actually own property in Dubai. This has certainly increased the demand for properties. Expatriates who were spending money in the form of house or office rent for many years are now trying to save money to buy a property of their own.
As the property market in Dubai is in a growing stage, expatriates are thinking of buying a house as a future investment. Thus the inward migration of expatriates to Dubai has increased the demand of properties in Dubai.
Dubai has a very diverse population, comprising of people with multiple nationalities and ethnic origins, living together. Census records indicate that 17% of the population of Dubai is UAE nationals, while the remaining population is distributed into the immigrants from neighboring countries, expatriates and temporary residents with work related or other visas. With the increasing number of businesses and multinational companies starting operations in Dubai, the inward migration of professionals and their families is also mounting. The tax-free salary in Dubai is one major attraction for professionals from world over to relocate to this city. Additionally, it is the wealth of job opportunities and leisure activities that attracts foreigners to Dubai.
With this trend of increased migration to Dubai, the housing needs
in Dubai are also escalating. As many of the companies are offering high tax-free salaries to expatriate employees, the rent is affordable to most of them. Earlier it was not possible for expatriates to buy residential or commercial property in Dubai. But now with the implementation of new freehold property law, expatriates can actually own property in Dubai. This has certainly increased the demand for properties. Expatriates who were spending money in the form of house or office rent for many years are now trying to save money to buy a property of their own.
As the property market in Dubai is in a growing stage, expatriates are thinking of buying a house as a future investment. Thus the inward migration of expatriates to Dubai has increased the demand of properties in Dubai.
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