Dubai is one of the biggest investment hotspots globally and there are several reasons to invest in the Emirate in 2020 because Dubai is a top ranked business hub. Here’s taking a look at the key reasons for investing in Dubai this year, particularly with the upcoming 2020 World Expo hogging the global spotlight across the business and investor community.
Setting up your Company in Dubai
Dubai has several company structures which are permitted along with fast registration and licensing procedures. You can choose to set up shop in the mainland or even in the free zone. There are multiple benefits in store for new investors and companies in Dubai. For help with company incorporation, VAT registration, return filing, auditing, accounting and other essential services, you can reach out to GCC Filings in UAE.
8 Reasons Why you Should Invest in Dubai This Year
- Economic Progress- Dubai has transformed into a major global business hotspot from previously being known only for its prowess relating to oil and oil reserve. The focus has shifted to non-oil segments and 2.9% of GDP growth is expected to exponentially go up in the near future. Over the last decade, foreign investor volumes have increased in Dubai as well.
- Variety- Dubai has a large variety of business options for companies, entrepreneurs, freelancers, business owners, home businesses, start-ups, brands and the like. Dubai has carved a niche globally as a numero uno destination for sectors like tourism, retail, hospitality, food and beverages, e-commerce, IT and more.
- Locations- Dubai has several options when it comes to business locations, ranging from the mainland and free zones to even offshore. Every zone has its own benefits for drawing more investors.
- Pro-active Government- The Government of UAE has been taking pro-active steps to make it easier to do business in Dubai and for boosting the economy. Several visa and business reforms have been carried out including the Smart Dubai project which has seen 130 new initiatives being established including Dubai Blockchain Initiative, Dubai Paperless Strategy, Dubai Data Initiative and a lot more.
- 100% Profit and Capital Repatriation- For smoothening out the procedure for investors, the Dubai Government offers 100% repatriation of profits earned and capital invested for business owners.
- Zero personal taxes- Another major reason to invest in Dubai in 2020 is the fact that personal taxes are fully exempted. VAT has been implemented which mandates taxes of just 5% for corporates. However, personal tax exemptions are provided for those starting businesses in the UAE.
- Global Dimensions- Dubai has turned into a major global hub and you can get instant global exposure by setting up here. You can expand your business to the other Emirates and neighboring countries such as Qatar, Bahrain and Oman among others. You can also consider a branch office in Dubai for the local business. Dubai is the gateway to the entire Middle East.
- 2020 World Expo- The 2020 World Expo will be drawing millions of investors, businesses, tourists and visitors to the Emirate. Dubai has witnessed sizable infrastructure growth prior to the mega event. With the global spotlight firmly on Dubai, there will be increased opportunities and skyrocketing growth in sectors like tourism, hospitality, retail, food and beverages, IT, infrastructure and construction, real estate and more. 25 million visitors are expected to attend the event spread across 6 months. Multiple deals, partnerships, new opportunities for start-ups and MSMEs and mega investments are in the offing for the Emirate.