Dubai has evolved as the UAE's major metropolis in recent decades, drawing entrepreneurs and investors wishing to establish profitable businesses. The city's favorable tax regulations and simplified startup procedures make it an ideal destination for prospective entrepreneurs looking to test their luck. However, establishing a business in an unfamiliar country can be overwhelming, and you may want that extra push to achieve your aim. Keeping that in mind, we've developed a list of great reasons to set up businesses in Dubai in 2023.
4 Great Reasons to Set Up Businesses in Dubai in 2023
1. Free Zones and Investor-Friendly Policies
Dubai's Free Zones and investor-friendly principles are among the primary reasons the city draws hundreds of aspiring entrepreneurs annually. For example, if you establish a firm in the IFZA Free Zone, you can enjoy various benefits, such as complete company ownership and 100% revenue repatriation.
As a result, foreign investors wanting to establish a firm in these zones will be allowed to retain 100% ownership of their company and reinvest all earnings in their country of origin. This will enable you to transfer all of your capital to your native country without worrying about fulfilling any length requirements.
2. Availability of Skilled Professionals
Besides drawing entrepreneurs, Dubai attracts many competent individuals seeking greater growth and job opportunities. This is excellent news for entrepreneurs looking to hire qualified labor to help them run and expand their businesses. Furthermore, since Dubai attracts countless individuals from various nations, entrepreneurs can explore multiple talent pools and establish distinctive and diversified teams.
The diversity that each individual brings to your company can help you promote innovative ideas, encourage creativity, and generate cultural diversity inside your organization, all of which can help you establish a positive brand image.
3. Secure Environment
Dubai is known to have a low crime rate. According to statistics, non-alarming crime reports decreased by 7.1 percent in Q1 2023 compared to the same timeframe in 2022. This is excellent news for aspiring entrepreneurs wishing to establish businesses in Dubai, as the low crime rate assures them they will operate in a secure and stable business environment.
Furthermore, the low crime rates allow business owners to focus on development and expansion without worrying about prospective hacks or thefts, thanks to a dependable and efficient judicial system. However, one thing to remember is that you should always have protective measures in place since, although Dubai's crime rate is significantly low, it is always best to stay safe.
4. Availability of Dedicated Business Setup Consultants
As discussed above, setting up a business in an unfamiliar location has its own challenges and hurdles. Thankfully, the availability of dedicated and reliable business setup consultants in Dubai allows aspiring entrepreneurs to get the support they need to turn their dreams into reality. So, what are you waiting for?
If the above reasons have convinced you to test your luck in the Gulf country, it's time to contact the professional consultants at Capatt Services. We can make the process of setting up a business effortless for you. Get in touch with us now for more details.
