Why does the world consider Dubai as their favourite destination to start a business?
This beautiful city is a busy business location with one of the largest ports in the world, connecting 140 ports across 6 continents. The city has a vibrant cosmopolitan culture where people from across the globe come to work and live for generations. This is a safe and politically stable city with 365 days of sunshine, 24×7 transportation access, skilled workforce, world-class infrastructure and a thriving business eco-system. All in all, to set up business in Dubai, all you need is a business mindset and a great business idea.
Ranked among the top 5 global cities for entrepreneurs, Dubai provides resources, infrastructure, transportation, consumers and above all, a stable business environment to operate. In this blog, we discuss 5 reasons why Dubai is a great place to start a business.
UAE is among one of the safest countries in the world to do business. With low crime rates, zero political and communal agitation and highly efficient police forces, Dubai is definitely a very safe city within the country, promising high standards of stability and security. Global risk management companies have often quoted the country as a country with high security-parameters in Asia-pacific countries.
All these factors contribute to the city being a perfect choice for business. You can set up business in Dubai without second thoughts due to it’s a highly stable and secure environment.
Efficient Air and Water Logistics
As a city situated in the crossroads of the East and the West, Dubai has always been a popular trade location for most of the countries around the world. Due to its geographical location, the city is very much favoured by traders and has one of the busiest ports in the world. For instance, Dubai’s Jebel Ali port is the largest port in the middle east with market access to over 2 billion people across six continents. The port also acts as a gateway for more than 90 shipping services connecting around 140 ports in the world including some of the world’s progressive markets like China and India.
Similarly, the country also has highly efficient air cargo and transportation facilities. With two busy airports, the city is also the proud owner of one of the world’s largest cargo hub.
The new Al Maktoum International airport at Dubai World Central is expected to be the world’s largest airport with a multi-model logistic hub with a capacity of 160 million passengers and 12 million tons of cargo per year once it starts operating in full capacity. In short, the rulers of this city is aiming to raise Dubai to become the next multimillion business hub for all kinds of products, services and solutions. If you are a business owner planning to set up business in Dubai, this is the right time to bring your dreams to reality.
Anyone who has been to Dubai will have no trouble accepting the fact that the city has one of the best road infrastructures in the world. With 14 lane high-speed highways, disciplined traffic and centralised monitoring systems, Dubai’s roadways are not only efficient but also one of the safest.
Further, the Dubai metro is also the world’s largest automated driverless train system that spans over 70km of magnetic tracks. The city’s visionary leaders are aiming to connect all major population, industrial and trade zones across UAE through their road and railway connections. The government is also developing a 500 km road network with 120 multilevel interchanges with a whopping investment of $12 billion.
Human And Natural Resources
Dubai is a multi-cultural cosmopolitan city with professionals from 200 different countries. Any business owner who wishes to set up business in Dubai will have no trouble finding work-force from veteran professionals to young college interns for every domain. There are flourishing industries in the city that range from IT, healthcare, engineering, designing and academics. The city also houses skilled blue-collar workers for all sort of manual labour.
As Dubai is part of a country that is famous for its petroleum, natural gas, crude oil & other petrochemical products, all these products are easily available at economical prices in Dubai. The city also has uninterrupted electricity and water connection that is available for its many industries as well as residents at all times.
Free Zone Trading And Businesses
One of the best reason that sets Dubai and the whole of the UAE apart from its counterparts is its many Free Zones and the favourable business environment it supports. The country has more than 45 free zones, of which 30 are situated in Dubai. The free zones are preferred by most foreign investors to set up business in Dubai due to its tax-free economy and 100% foreign ownership. As Dubai is a city that has always favoured commodity trading and financial resources, the two most popular free zones in the city are the DMCC and DIFC.
The Dubai Multi Commodities Centre Authority or DMCC is Dubai’s dedicated commodities marketplace. This free zone offers an industry-specific market infrastructure for gold, diamonds, pearls, base metals, tea, coffee, spices and agro commodities. The DMCC free zone authority offers a number of valuable business incentives and services in addition to land resources allocated for operations purposes.
The Dubai International Financial Centre or DIFC is another free zone which provides hundreds of opportunities to businessmen with financial acumen. It is the preferred location for many financiers, accountants and investors. The free-zone possess a dedicated financial exchange Dubai NASDAQ, which competes with other global financial hubs like New York, London, Singapore, and Hong-Kong. With its world-class and independent regulations, DIFC is a completely transparent operating environment with compliance to best global practices.
Convinced about realising your business dreams in a tax-free country with some of the world’s best infrastructure, facilities and resources? Consult with our experts to set up business in Dubai at the earliest.