Setting Up A Business In Dubai Will Be A Thing Of The Past And Here's Why
The UAE has just announced that starting in 2020, foreign entities can set up a business in the country without any physical presence. This is an amazing opportunity for entrepreneurs and start-ups to get their foot in the door of this lucrative market. It's also great news for investors and companies with global ambitions because it means they don't have to worry about opening another office or location overseas when they want to expand into Dubai.
So why is this new announcement so groundbreaking?
Until now, the only way to set up a business in Dubai legally was through a physical presence. You would need to open an office with at least one full-time employee who lives and works in the emirate. Now that's all changing, as of January 2020, 100% foreign ownership of companies is permitted.
The new rules are expected to bring substantial benefits across the board for everyone including investors, entrepreneurs, and international businesses wishing to set up shop in Dubai. Having your company registered in Dubai will be easier than ever before. It's expected that the new directive will bring a boost to the economy, as more foreign entities are attracted to set up shop in Dubai.
This is just one of many reforms that have been made to business regulations in the UAE over the past few years. The government has implemented progressive and liberal laws and regulations which make it very attractive for international companies and knowledge-based startups to set up their business in Dubai. Legal protection is particularly useful for businesses that are looking to operate their business long-term.
Here are some of the benefits you'll enjoy when you register your business in Dubai.
1) Excellent Business Climate: The UAE has an excellent business environment, especially for start-ups and entrepreneurs. In addition to being a tax-free country, foreign entities can operate in Dubai without having a physical presence. The only requirement is that your business needs to be registered under a provider which has an active trade license or Iqama.
2) Attractiveness To Foreign Companies: Investors and entrepreneurs from around the world are going to be very keen to set up their business in Dubai after 2020. The UAE is already the 8th most competitive country for setting up a business in Dubai and this new announcement will further boost its status as a leading global economic hub.
3) Access To A Wealth Of Opportunities: There are many opportunities to build a successful company around the world, but there's no doubt that Dubai will be a particularly attractive option. The UAE is a growing market with a very young and entrepreneurial population. It's also the world's 5th biggest economy and home to many multinational companies who are looking for opportunities to expand their operations in this region.
4) Well-Established Business Infrastructure: The UAE is an advanced country with a well-established infrastructure. This makes it very easy for businesses to start their operations in the country. Companies who want to take advantage of this opportunity don't need to invest heavily in setting up their business, as they will enjoy access to a wide range of services and facilities, including office space, well-equipped business centers, and state-of-the-art telecommunications technology.
5) Access To A Highly Skilled And Educated Workforce: The UAE has well-educated professionals who are fluent in English. This is crucial for businesses who want to establish their operations in Dubai because it will make it relatively easy to hire the necessary talent. This means they will be able to operate in a competitive environment and take full advantage of the opportunities that Dubai has to offer.
Dubai is an ideal location for setting up your company, which is why it's such a popular destination among entrepreneurs and investors worldwide.
If you want to expand your business overseas, setting up your company in Dubai will be a great choice.
Contact one of our business consultants today to discuss the requirements for setting up your company in Dubai and how eMigrate can help you do it faster.
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