Do you know where most business fails? No, it is not while starting a new business. That is fairly easy. If you have an idea, get some investment, you can start a new business. The problem starts when you think of expanding the business.
Unlike opening a business, expanding your business to foreign lands is quite complex. Most of the complexities come from the unknown land, laws, and things that need to be done before you can expand your business.
If you are facing the same problem, you are at the right place.
When you are planning to expand your business, most of the time, you are unaware of the location. We get it. It is really hard to think about a place which is not known to you and is business friendly.
You know what, we have a place in mind - It's the United Arab Emirates.
Dubai might have been a hot, sandy desert a couple of decades ago, but this country is the price of overnight development in history. It is one of the fastest developing countries in the world. That being said, it is also the best place to expand your business.
Why Consider Starting A Business In The UAE?
You might think that a business expansion in one of the wealthiest countries, like the UAE, is just a dream. But, you will be surprised to know just how open they are with their foreign policies. The reputation of the UAE attracts many companies as they provide business-friendly schemes.
If you want to venture capital in UAE, it would probably be the best business decision you will ever make. Foreigners who want to open their business in the UAE don’t need Emirati shareholders. The amendment in UAE is more business-friendly to invite more entrepreneurs and establish companies successfully.
Below are a few things that will help you know why Dubai is the best place to start your business.
1. A Tax-Free Zone
The main reason why most businesses travel to Dubai is because of its tax-free zone. Only banks, hotels, and oil companies have to pay corporate taxes in Dubai. Other companies are exempted from paying any corporate tax. This is the reason why the UAE was able to change its landscape overnight.
2. Large Foreign Investment
When the world was facing the COVID-19 crisis, Dubai received $6.7 billion in investment from all around the world. This created more than 18,000 jobs at a time when people were losing their jobs. Unlike other countries, Dubai never shut down business travel from around the world. Instead, it took the necessary measures to curb the virus and move forward with the business.
3. A Strategic Geographic Location
UAE enjoys a strategic location advantage in the world of trade. Whenever a business is conducted from east to west or west to east, it must go through the UAE. This makes the UAE the global hub for travelers and businesses. Moreover, its geographical location allows businesses to use sea and air routes.
4. Friendly Visa Policies
UAE is perhaps the only country with the most friendly Visa policy, especially for business owners and professionals. Because of the friendly visa property, you get a ten-year-long visa. That means you can even lease a property, buy vehicles, and travel easily with minimal bureaucratic problems.
5. Diverse Culture
If we are talking about the most diverse country in the world, UAE might be the ten first names that come to your mind. You won’t believe it, but it's true - it is home to more than 200 nationalities. Although coming from different cultures, everyone is encouraged to treat them equally. So, if you want to start your business In UAE, you have the opportunity to hire employees from diverse cultures without any issues.
Final Thoughts
The UAE is a growing economy. This is the reason why it is attracting investors from all around the world. With investment from wealthy nations, Emirates has maintained a healthy financial climate.
This gives Foreign Expats opportunities to set up businesses with easy procedures and minimal documentation. In addition, UAE foreign policies allow business visas for ten years, making it easy for the business to thrive.
