Why Dubai Should be Your Next Location for Business Expansion
Are you planning a business expansion but are unsure of where your next location should be? We get it! Making such a huge decision is no joke because your next business location has to be a business-friendly location. The United Arab Emirates (UAE) can be that attractive option for business expansion.
Dubai may have been just a hot sandy desert a couple of decades ago, but the country has seen perhaps the fastest overnight development in history. From the tallest skyscrapers to the most expensive hotels, Dubai is now one of the most attractive locations for business investors. And there are many reasons why!
Why is Dubai an Ideal Location for Business Expansion?
1. Continuous Support for Small and Mid-size Enterprises (SMEs)
One of the reasons why Dubai has dramatically grown in the past years is because it has always supported businesses and SMEs. From business-friendly policies to no corporate taxes, its continuous support for businesses has been seen as very welcome.
Especially during COVID-19 when the entire world shut down, Dubai offered one of the best economic packages in the world to the businesses. It offered multiple packages over a course of time that led to a growth in trade and business activities in the country. In fact, many new startups and business ventures were launched in Dubai during this time.
2. A Tax-Free Zone
The main reason why both labor and businesses prefer Dubai for work is because it is a no-tax zone. Only banks, hotels and oil companies have to pay corporate taxes in Dubai. Other companies don’t have to pay any taxes, which is why foreign investors and businesses are so eager to start companies in the UAE. There is no personal income, capital gains, corporate, withholding or value-added tax in Dubai.
3. Diverse Culture
Dubai is one of the most diverse nations in the world. It is home to more than two hundred nationalities from all over the world. Although coming from different cultures, everyone is encouraged to treat each other equally and without discrimination, at least according to the law. Although in practice there are certainly issues, as exist anywhere, the laws are designed to protect all workers.
So, if you start a business in Dubai, you have the opportunity to employ a diverse and skilled workforce from different parts of the world.
4. Large Foreign Investments
Dubai received a whopping $6.7 billion foreign direct investment during the worst of the pandemic that created over 18,325 new jobs for people. This is because Dubai never shut down business travel from the world. It took timely and effective measures to curb the virus while still allowing businesses to run. It was one of the few countries that remained open for business despite the lockdowns elsewhere.
Dubai’s smart measures to keep businesses running and the release of attractive economic packages for those businesses is what attracted these foreign investments despite the tricky circumstances.
5. A Strategic Geographic Location
Located in the middle of the United Arab Emirates, Dubai has a strategically advantageous position. Since it is right in the middle of the East and West, it enjoys the best of both worlds. It is also a hub for global travelers and cargo since many international flights between the East and the West go through Dubai, making it one of the world’s busiest airports.
It is also an ideal location for trade because Dubai has both sea and airports. This makes it easier for businesses to do international trade. Both exporting and importing products is easy. Moreover, its location enables it to do trade with all the markets located in the Gulf, Asia, Africa, Europe and CIS countries, making it possible to generate a large customer base.
World Class Infrastructure
Famous for its tall skyscrapers and unique architectural wonders, Dubai has one of the best infrastructure systems in the world. Its public transport is world-class, with a metro that is world-famous for connecting the entire Emirates region.
Its enabling infrastructure for land, sea and air is the reason why businesses find the country easy for doing business. They also enjoy a great quality of life in Dubai, thanks to these developed facilities.
- Friendly Visa Policies
Another reason why Dubai is ideal for business expansion is because it has very friendly visa policies, especially for professionals and businesses. Starting a business in Dubai means you get a residency visa to the country. You can make it your new home country as you can lease property, travel easily and buy vehicles with minimal bureaucratic problems.
It is visa programs like Retire in Dubai, 10-year Golden Residency Visa and others which highlight Dubai’s priority in retaining foreign professionals and talented labor.
- Home to Multinational Companies
Dubai is home to multinational giants as well as the greatest educational institutes in the world. Companies like Nokia, Oracle, Sony, Microsoft, Boeing, BBC World and the Emirates Group have their branches in Dubai. Successful corporations do not want to miss out on a strong economy and their positive experience can serve as an example to others.
To Sum Up
There are many reasons why Dubai is one of the most sought-after countries by businesses and investors. And if you have a planned business expansion in the works, this relatively small Gulf nation can be on the top of your list. Not only can you enjoy the business-friendly operating environment, you can also take advantage of a high quality standard of living for you and your employees!