Dubai-Veritable Shine to business and comemerce

UAE is a confederation of seven emirates and each one of them provides distinct business advantage for the investors.The confederation consists of Dubai, Ras-al-Khaima, Sharjah, Abu Dhabi, Ajman, Fujairah, mm-Al-Qaiwain.

In this post we would try to explore the benefits and opportunities’ extended by the one of the emirates in detail. In the forthcoming series of post we will discuss in detail about the 7 emirates and their business friendly economies.

In a short span of 40 years, Dubai has transformed itself from a local trading community into one of the most inspiring and successful cities in the world. Today its stands out as an immense attractive destination for tourists and businesses alike.

Dubai as a city has an indigenous population of 1 million, the number of Dubai expatriate residents now stand at 2.5 Million, thanks to its lifestyle appeal and investment incentives.

Dubai’s economy boasts an ambitious combination of cost, commerce and environmental advantages that make an ideal and appealing investment climate for local and foreign businesses. This is as a result of Dubai’s astute foresight, innovative facilities and infrastructure and its government’s favorable economic policies.

Location proximity:

The strategic location of Dubai provides access to approximately 3 billion consumers from a unique centralized time zone combining East and West business ours. Dubai is the perfect gateway for the East and west Business hub and one of the most lucrative in the world.

Key Advantages of Dubai Business friendly economy:

·         No Direct taxes

·         No foreign exchange controls

·         100 % repatriation of capitals and profits

·         Relaxed visa policies

·         Political & Economic Stability

·         Physical infrastructures (DXB Airport, DWC airport, Jebel Ali port, Port Rashid, **Free zones etc.)

·         Investment support and Promotion by the government (Dubai Department of Economic Development)

·         Visionary Leadership

·         Strategic Location advantages

·         Free trade agreements

This is all complimented by an integral service sector, which includes shipping, banking and finance, legal firms, hotels and hospitals. Dubai’s advancing capital markets are built on the foundations of cutting edge technology and grounded regulatory systems. The government has an excellent commitment to business and lenient economic policies gained from a constant and balanced industrial relations.

**Free Zones:

Exceptional area of a country where standard trade and regulation (trade barriers, quotas, regulatory etc.) are relaxed for the purposes of enticing new foreign investment.

UAE has about 35 operational Free zones and 19 proposed free zones .Out of which Dubai has 16(JAFZA,DAFZA,DMCC,DWC,DIFC,DIC,etc) operational free zones and 15 proposed zones.

The key advantage of a free zone is the foreign investor can have 100 % ownership of his company. It also offers incentives including no income tax, freedom to repatriate both capital and profits, full exemption of import duties and no currency restrictions.

We will discuss in detail about the virtues of Dubai free zones and main land in the next post…….

prasad.santhosh@adamglobal.com