In this post, we will explore how Dubai has become the capital of international business and finance. 

• Strategic Location

If you have been to any business conference or summit hosted in Dubai, you can easily notice that Dubai attracts the top talents and innovators from around the world. But what is it that makes it highly attractive to do international business in Dubai? How is Dubai getting the attention of global investors and entrepreneurs? Does it not seem magical how a city that was once known solely for sandy mountains and copper deserts has now become one of the top business destinations and ranked among the world’s top business hubs like London, Paris, New York and Singapore? There is certainly something in Dubai that intrigues the best brains across the globe. 

You might have not noticed but the strategic location of Dubai is one of the vital factors that make Dubai a lucrative business hub. How? When you look around the world for top business destinations, you will find New York, Paris and London and then there is emptiness or say a huge gap all the way to Singapore and Hong Kong. Dubai is what bridges this gap. It is located in the middle of that part of the world where there is a lot going on. Dubai is connecting the East and West.

Besides, the Dubai government has also made this city business-friendly by providing world-class infrastructure and cutting red tapes. Its government is incentivizing businesses to keep Dubai growing and progressing.   

• Center of Global Events

Right from the World Government Summit to the Retail Summit, science, art, and literature exhibitions to business conferences and not to mention the Expo 2020, one can benefit from all these events in Dubai. Dubai hosts many of the conventions where business masterminds come together to push the boundaries through networking and conversation. SMEs form the backbone of Dubai’s economy as they represent 99.2% of all businesses in Dubai, according to Gulf News. Moreover, large and reputed international brands are also expanding and growing there. 

• Ease of Doing Business

Dubai ranks highly when it comes to Ease of Doing Business. There is only the nominal VAT rate (5%) on taxable supplies which is very low when compared with other top business destinations. In fact, there are free zones where there is no tax imposed on personal income and capital gain, no or minimal customs duty on imports and re-exports, no restriction on capital repatriation and profit, freedom on currency movements, and 100% business ownership. 

Even in Dubai mainland where there are  tax implications (5% VAT), you can enjoy a lot of perks, including freedom to trade across Dubai and the rest of the UAE, ability to do international business, flexibility to diversify your offerings, ability to deal with the UAE and GCC government projects worth billions of dollars and much more.  

So, establish your presence in Dubai and enjoy the immense possibilities and opportunities it offers before everyone does. If the process of setting up an international business in Dubai seems complex and daunting to you, don’t worry. Just hire businessmen services in Dubai and they will take care of all the complicated tasks, registration, approval, permits, visa processing, and help you become familiar with the business landscape of the Emirate.