Investing in Dubai - Is it a Good Time to Set Up a Business?

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Karen Laforce
Investing in Dubai - Is it a Good Time to Set Up a Business?

Setting up a business in Dubai has never been easier. Dubai has gained the status of an international business hub in UAE, thanks to its strong legal system, superior infrastructure and extensive free trade zones. It provides very low-cost, high-quality commercial environment, maximum tax exemptions, full privacy, and reduced liability for employees, in setting up a business in Dubai. On the whole, business owners can enjoy the benefits of an ultra-modern and tolerant society, with state-of-the-art business facilities and amenities.

On the other hand, there are certain regulations and conditions for businessmen wishing to set up a business in Dubai, which may differ from those of the mainland. These include: obtaining a business permit from the Dubai government; holding an approved business license; purchasing or constructing property in Dubai through a licensed agent; and getting a business exit strategy approved. Businessmen who wish to hire a commercial manager for their operations in Dubai can get one from a reputable company offering such services. These companies also offer consultancy services and business translations.

The emirate has made immense strides to improve the standard of living and infrastructure in the last few years. Dubai's ruler, the Dubai ruler (who is also the owner of this website), has put in place massive investment and development efforts to transform the city into a global business hub. He has done so by transforming the city's commercial architecture and planning system, as well as modernising the banking and transport systems. In addition to these major projects, Dubai's economy has been boosted by a series of small-scale projects and developments, most of which have played a vital role in spurring the growth of the economy. Some of the key developments that the city has gone through include:

Companies looking for office space in Dubai can find a lot of options, with many commercial properties located in premium locations in Dubai like Business Bay, Emirates Tower, and the Madinat Jumeirah. Most investors prefer to rent office space in Dubai, as they find the cost of renting a full-fledged office here is less than renting one in the mainland. For example, an individual can get a good office space for a couple of thousand UAE Dirhams (USD) per month, while the same office space can cost up to twenty-five thousand UAE Dirhams in the mainland. Business owners looking for cheaper rates can opt for office space in Dubai that is shared by a handful of other companies.

Another option for those interested in starting a business in Dubai is to consider trading. Trade is prevalent in Dubai, and there are several trading hubs located all around the city. However, the most popular trading hubs are those located in the emirate of Abu Dhabi, such as the Satwa Exchange and the Gold Trade. There are also companies that specialize in foreign trade, including MTZ, Levantine Group, and the Emirates Exchange. Trading can be very lucrative, but it is important to note that trading can be quite risky, particularly in the beginning. For this reason, it is important for investors who want to set up a business to consider all of their options carefully.

For investors who do not wish to trade, or do not have the finances to Business setup in Dubai, there are several options available to them. Several leading companies have manufacturing and distribution facilities in Dubai, including the likes of Rolls Royce, Citibank, and Honda. Additionally, leading multinational banks have bases in Dubai, including the likes of HSBC, ING, and Credit Suisse.

An important thing for investors to consider is the type of commercial license that they require for trading activities in Dubai. There are many types of commercial licenses, including trading permits, management permits, and construction permits. In order to obtain any of these permits, an investor will need to apply to the government. Dubai government offices can be found throughout the city, but most investors will choose to hire an attorney who speaks fluent English. This way, the investor can be sure that he or she is obtaining all of the information that they need to properly file for the necessary applications.

The potential for investment in Dubai can be high, given the low labor cost, secure investment opportunities, and attractive financial services. However, many factors must be considered before an investor ventures into business in Dubai. It is a good idea for investors to do their research and speak with experienced Dubaiis before making any decisions. This ensures that investors can make the best decisions possible and receive the best returns possible.

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