The city of Dubai is home to some of the most stupendous buildings like Burj Khalifa and Burj al Arab and some of the biggest and the largest shopping malls like Mall of the Emirates and Dubai Mall, but there is much more to this city. Dubai is just not about tourism and an attractive job market, but it also offers a perfect investment, trade, and business climate to the foreign investors. The city has emerged as the regional trade and business hub in the recent times which has attracted some of the biggest international companies to form their regional wings here. For information regarding business setup services in Dubai, you may click on the link or you can read further to know more about what it takes to have a business based in Dubai.
Dubai is a class apart when it comes to the business and trade opportunities, especially after the formation of over 20 free trade zones across the city. The local authorities have eased up the rules and regulations for these foreign companies or investors to form their businesses in these free zones. These incentives range from 100 percent ownership of the company for the foreign entrepreneur to 100 percent profit and capital repatriation. Moreover, these offshore companies are exempted from all kinds of taxes including corporate tax, income tax, and personal tax. If that’s not enough, the companies based in free zones of Dubai can do their business in any currency they want and don’t have to pay any customs duty on imports and exports of their products and services.
Over the years, many foreign investors refrained from setting up their companies in the United Arab Emirates, largely due to the condition of having a local sponsor who owns 51 percent stakes in their company. However, the free zones in Dubai also offer the foreign entrepreneurs to keep 100 percent stakes in their company and they can run their businesses with absolute ownership. Moreover, the owner of an offshore company doesn’t have to share the details of the company’s board of directors with the local authorities. The strategic location of Dubai is the ultimate attraction for the foreign investors and they establish their regional wings in the city to target different regional markets like Central Asia, Europe, Australasia, South Asia, Far East Asia, and Middle East and Africa.
Why not find out more on how an offshore company can run successful business operations in Dubai.