“Dubai is poised to become the next hotspot for global economic development.”, says Mr. Sanjeev Jain CEO Ace Advisors India
Looking at today’s times, expanding business globally is a need more than a grand ambition. Countries like Australia, Singapore, and United Kingdom have been catching Indian entrepreneurs’ attention a lot lately, but the fear of saturation also comes along with it. So, where should new business owners plan on venturing into for a safer and more profitable expansion?
“Dubai is the next big thing for all global businesses as it is a multicultural metropolis with two-thirds of the world’s population within eight hours of flying time, allowing it to act as a crossroads for East and West, as well as the hub of the Africa-Middle East-Asian triangle. Dubai has earned the reputation of being a simple place to do business due to its quick expansion, strategic location, and welcoming business culture.”, says Mr. Sanjeev Jain, the CEO of Ace Advisors India.
According to him, Dubai’s GDP is expected to rise by 2.1 percent in 2019 and more than 3.8 percent in 2020. At a time when many international economies are contracting or remaining stagnant, the UAE’s largest metropolis is on a healthy development trajectory thanks to rising corporate diversification and foreign investment. “In 2021, Dubai has high prospects to top the World Bank’s Ease of Doing Business list,” he says. Looking at the recent data of Ace Advisors India shows that the top five countries to establish your business globally are New Zealand, holding first place with a score of 86.8, followed by Singapore, Hong Kong, Denmark, and South Korea respectively.
“The parameters for ease of doing business in the UAE cover ten areas of the business life cycle, including starting a business, dealing with construction permits, registering property, securing credit, protecting minority investors, trading across borders, enforcing contracts, and resolving insolvency amongst others.”, Mr. Jain advises.
When asked, why to establish a business in Dubai, Mr. Jain said,” The UAE ranked first in terms of obtaining electricity, third in terms of obtaining building permits, and tenth in terms of registering property, according to the study’s criteria.”
He also stated that the UAE was ranked 17th in the globe, with the greatest economy in the Arab area, outperforming its Gulf neighbour states. In 13 industries ranging from manufacturing to renewable energy, the UAE has authorised 100 percent foreign ownership. It also relaxed immigration requirements, offered incentives to small and medium-sized businesses, and enacted a new insolvency law to aid UAE residents in resolving outstanding debts.
Among the advantages of doing business in Dubai is the plethora of alternatives for company structures and the benefits that come with them. Ace Advisors India published a list of recommendations outlining how organizations in Dubai benefit from various formats.:
A zero-tax regime, which means that no personal or corporate income taxes are levied.
Safe and robust governance
A world-class financial hub
A well-educated pool of human capital with diversified professional expertise from all around the world.
No capital repatriation restrictions
No share capital requirements
No physical office requirements
Lower start-up costs than other onshore jurisdictions
There are many different types of businesses in the UAE that you can use as a starting point for your new firm.
- Establishment of a Free Zone Business
- Offshore business
Still not convinced?
We will share an insider tip from Ace Advisors India: you need someone you can rely on to ensure you succeed in establishing your business in Dubai or the UAE. Someone who knows their way around town and can help you get your business off the ground.