What You Ought to Know If You Want to Start a Company in Dubai Today, Dubai is known for its beautiful appearance. Dubai is basically a symbol of prosperity and success. This is a serious turnaround with regards to Dubai’s appearance a couple of decades ago. Nonetheless, thanks to the spirited leadership and Dubai’s ambition and hard work, this mere desert habitation has become an economic mammoth and the place to be. It is impossible ignore the stunning economic prosperity in this area of the Middle East. Thanks to the Dubai government, business people are able to benefit from tax systems that are favorable and the friendly business polices, which help them succeed. Here are some facts one should know about starting a company in Dubai. It is Not a Hassle For Foreigners to Start a Company in Dubai The first economic free zone in the UAE was established by Dubai. This was to act as an incentive for foreign businesses to trade in the region. The model allows none native entrepreneurs to retain full ownership of their businesses and companies. This is a big advantage because countries that don’t have this type of model foreign entrepreneurs need to find a local partner who owns 51% of the company.
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Starting up a company in a country that is using a free zone model is very beneficial for businessmen and women because they get to be exempted from both corporate and income taxes for a fifty year period. There are a variety of industries that Dubai focuses on these are the media, information and communication technology and healthcare industries. If you are planning to begin a startup in Dubai, the best communities you can join are Dubai internet city and Dubai silicone oasis.
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It Offers the Most Competitive Market in the Business World Dubai is the best business hub in the Middle East and North Africa that is preferred by most entrepreneurs. This is due to the fact that getting a visa to relocate to Europe or the US is hard and therefore Dubai provides an effective alternative. Many entrepreneurs tend to feel that their businesses are strengthened by the size of the markets and the level of competition in Dubai. Entrepreneurs in Dubai Benefit from being able to network with business professionals from different capacities who offer a variety of opportunities in growing their businesses. According to research, Dubai is the best entrepreneurial city in UAE. Dubai attracts the greatest minds and talents from across the globe. Local Support is Readily Available For any startup to succeed, it needs all the support it can get from different people with different perspectives. Dubai is one city that is rich in resources in many ways. Entrepreneurs starting out in Dubai benefit a lot from being surrounded by professional and well-educated workforce, which helps them to establish their businesses. Entrepreneurs can easily succeed thanks to the free zones in the UAE as well as the ready support in the area.