Dubai is known for breaking records and currently holds more than 220 world records. Be it the largest, highest or best one of a kind- Dubai is full of these. Now, these adjectives do not only concern the economic growth and technological advancement but are also connected to creating one of the best investor-friendly environments for foreign investors in the world.

But, due to the lack of knowledge, there are still many myths about this prosperous city that prevent foreign investors and entrepreneurs from choosing Dubai as a primary destination for setting up their new businesses. When you work with the best business consultant company in Dubai, you not only get to know the facts and myths about setting up the company in Dubai, but they also help make the setting up process less time consuming and hassle-free.    

Here, we’ll discuss the most common myths about the setting up of business in Dubai.

• It is expensive to set up a business in Dubai.

Well, it is evident that you do need capital investments to commence a business in any country. But, when you compare how much it cost to set up a business in many European countries with the UAE, you will realize that business heaven exists and it is in Dubai. Due to the diversification of the economy, setting up a business in Dubai is much more convenient and cost-effective than many countries in Europe and North America.

• Have to go through a complicated process for business setup

Many people think that it is much harder and time-consuming for foreign investors to set up a business in Dubai than for the UAE nationals.

Firstly, nearly 95% of all establishments in Dubai are SMEs. And secondly, around 85% of the population in Dubai is non-UAE citizens. So, if you compare facts, you will understand that the maximum number of companies in the city is established by foreigners who engage in the SME sector.

The UAE legislation protects foreign investors and simplifies their set up process because foreign investment for the Dubai economy is welcomed. It will take you around 1 to 4 weeks to set up a business in Dubai; however, you can hire the best business consulting company to make your set up process smoother.

• Have to partner with the UAE national to start a business in Dubai

Investors generally think that they need to partner with the UAE citizen to obtain a business license in Dubai. But what they don’t know about is that there are over 30 Free Zones in Dubai where they can register their company and enjoy 100% ownership. Also, you can obtain a professional license and have 100% ownership.

• Working and Operating a business in Dubai is not possible for Women.

Dubai is one of the most liberal cities in the Middle East region and, hence, a popular destination for the businesswoman. Emirati women dominated the list of 100 most powerful businesswomen in the Middle East.

Also, the UAE is amongst the leading country in gender equality in the Middle East region.

The Bottom Line

The myths about Dubai are mostly created and held by people who have never visited the place or simply do not know the facts. But the fact is that one can set up business in Dubai without much complication.

Although it is easy to set up business in Dubai, it not that easy to stay afloat among ambitious professional and big money from around the world. Therefore, you need to hire the services of the best business consultant company in Dubai to help you with your business plans.