While the entire world has been juggling with the global economy system, the fall in the oil prices and the investment insecurities – Dubai’s dynamic businesses continue to grow. In fact, there has always been an increase in the number of company registrations in Dubai – from 12.5% in the year 2015 to 4.6% of new Dubai licenses in 2018, as reported by the Department of Economic Development (DED).
So, why are there so many business entities in the region? What are the business opportunities in Dubai? Why is city so influential and why is Dubai considered to be among the top countries to do business?
Shuraa Business Setup – a leading business setup services providers in the UAE helped analyze and understand the reasons why Dubai is among the top countries to do business. With 18 years of experience Shuraa is well versed with the legal variations and evolution that the city has gone through in terms of company.
Mr. Saeed Khalifa a well-known businessman from the UAE and owner of Shuraa Business Setup said that Dubai is highly endorsed as an entrepreneurial ecosystem. He quoted a report by the Global Entrepreneurship and Development Index (GEDI) stating that UAE ranked 19 for its entrepreneurial visions, activities and aspirations. He also mentioned that the Global Innovation Index report (INSEAD) ranked UAE 47 in innovation performance. Quoting these statics, Mr. Khalifa said, “The whole of UAE along with Dubai motivates the entrepreneurial ecosystem.”
Dubai skyline with traffic junction and Burj Khalifa
He further said that these accomplishments have not only contributed towards the country but also created an approachable environment for the locals as well as international entrepreneurs. Adding to the reasons, Mr. Saeed Khalifa also said that Dubai is an influential country as it is the member of the World Trade Organization. This makes company registration in Dubai secure to establish stable trade relationships through open trade policies. He further stated that Dubai is an ideal location situated right in the center of the world’s commercial spectrum. Dealing with Europe, the North American regions and a large part of Asia and Africa is easier from Dubai. The strategic location of Dubai encourages for these open trade relationships, as it is situated on the cross-border of the European continents and the Asian and African region, he said.
Speaking to other veterans at Shuraa Business Setup , Mr. Jashvant Prajapati a company formation expert and the Finance Director of the company also shared his views.
Mr. Jashvant Prajapati said that diversification is the key to do business in Dubai. He said, “Dubai aims at creating diversified business modules because of which it is among the top countries to do business in the world. Deriving from his years of exposure and experience Mr. Prajapati said, “We see a lot of company registrations in Dubai in sectors such as import and export, tourism, shipping, IT and other advanced innovation-based industries. However, this diversification is not only limited to these sectors – the maximum economy is generated from the Small and Medium Enterprises (SMEs in Dubai) promoting the significant elements of diversification” he added .
Analyzing the nature of Dubai on inviting innovative businesses, Mr. Jashvant Prajapati said, “The government has always encouraged ground-breaking andinnovative company setup in Dubai. The city provides ultimate support and offers liberty to innovative businesses” he added.
He also mentioned several Free Zones supporting innovation led activities such as Dubai Biotechnology and Research Park, Dubai Media City, Knowledge Village, Dubai Internet City, Dubai Design District and several others. He also said that research and development activities along with many SMEs start business in Dubai Mainland. Moreover, Dubai aims at creating an economy completely regulated by innovation and an environment directed through invention, research, high-tech and developed application, he stressed.
On asking how is easy would it be for an expat to start a business in Dubai, Mr. Prajapati cited, “Dubai offers easy business setup procedures, while it is also estimated to be cost-effective in comparison to other cities offering company setups in the world.”
He said that it is easy to start a business for a foreign investor as the commercial laws offer protection and immense opportunities for growth. He also mentioned that subsidiary companies are not allowed to acquire share of parent companies, making it an opportune environment. Listing the other benefits, he said that judicial approval can be obtained without much restriction and there are the regular tax and economy benefits associated business setups in Dubai.
On concluding notes, he said, “Dubai is distinguished as a commercially affluent city. Dubai receives loads of direct foreign investments contributing towards the commercial expansion of the city. Company registration in Dubai offers a corporate environment, financial strength, advance connectivity and technological outburst. This is what has made Dubai a hub for international brands, branch offices and startups around the world.
About Shuraa Business Setup
Shuraa Business Setup is a leading business setups services provider in the UAE. Established in 2001, Shuraa for years has helped budding entrepreneurs and businessmen make their dream business a reality in the region. Shuraa Business Setup aids all the requirements of setting up a business in Dubai or anywhere else in the UAE. From governmental procedures to paperwork or be it renting an office space – Shuraa takes care of all the requirements!
Shuraa creates an approachable environment for investors interested in starting a business in Dubai by offering FREE company formation consultation. So, if you are willing to learn more about the UAE market and would like to know how to start your company in Dubai simply speak to our consultants. Follow the link and leave your details to get a call from our representatives http://bit.ly/2Lge7Ce
