Dubai has come a long way when it comes to becoming the international hub for entrepreneurs who want to start or grow their own companies in the Emirates. The city has developed an image as the ideal place among the GCC for upcoming entrepreneurs. This has been possible with the business-friendly tax policies, quick license approvals, world-class infrastructure of the city, and uncountable reasons that are bound to benefit businesses on a large scale.
Company setup in Dubai is the first choice of foreign investors, as they find it very easy and quick to set up their business in the best locations without any extra hassles. With many jurisdictions to choose from, Dubai has economic zones for every business activity. You can choose from free zones, mainland, and offshore, where each jurisdiction has its own set of benefits and regulations.
Foreign business owners and entrepreneurs are attracted to Dubai with the introduction of new rules such as 100% ownership in Dubai mainland.
Why is this the right time for a Business setup in Dubai?
Let’s give you the major reason why this is the perfect time to start a business in Dubai
- Introduction to the 100% ownership law
With the introduction of the 100% ownership law for foreign company holders, the government intends to permit 100% business ownership for the majority of enterprises. Previously, only businesses operating in free zones were eligible for this incentive; all other businesses had to have an Emirati sponsor with a minimum 51% ownership stake. Now a foreign company owner can hold 100% ownership in Dubai mainland too. Although, in the case of mainland jurisdiction, this is limited to a few businesses.
- Favorable business setup policies
Dubai offers a favorable business climate and the latest regulations introduced by the UAE government are extremely helpful. These rules help promote small and medium-sized businesses that have produced a favorable business climate and are the perfect place for aspirant businesses. The Dubai government has made great efforts to guarantee that the infrastructure and foundation of the start-up ecosystem are strong.
- Business growth opportunities
Dubai serves as a destination for investments from both large and small companies. Due to the market’s enormous potential, Dubai is a fantastic investment hub at the moment. Numerous investment opportunities are available, and major marketing initiatives are all set to be introduced soon. So, if you have a good business idea in mind and want to grow your business, then choose a company setup in Dubai.
- Tax-free structure for corporates
Dubai is heaven for new businesses. This is why it is the best place to start a new business as compared to other countries in the world. Dubai offers a no-tax policy for corporations and it levies no income tax as well as corporate tax.
- Vibrant economy
We can’t deny that Dubai has the most vibrant and growing economy in the world. With less than 2% dependency on the oil & natural gas sector, Dubai has transformed the way of numerous business activities and helped the new entrepreneurs reach new heights globally.
Dubai is the next cryptocurrency hub
Dubai is not only a hub for regular business activities but has also gained the momentum to be a big name in the world of cryptocurrency businesses. Major crypto companies such as Binance, FTX, By bit, and Crypto.com have opened their branch offices in Dubai. This has become possible with the launch of a dedicated governing body VARA (Virtual Assets Regulatory Authority) that will look after the crypto and other related businesses in Dubai.
VARA plays an important role when it comes to crypto businesses wanting to start their business in Dubai. So what are the functional activities of VARA?
These include –
- Operating and maintaining systems for virtual assets.
- Exchange services are provided between one or more different virtual asset kinds as well as between virtual assets and real money, whether it be domestic or foreign.
- Services for moving virtual assets.
- Services for the custody and management of virtual assets
- Portfolio management for virtual assets
- Exchanges and sales of virtual tokens.
Dubai has established itself as the emerging global centre for cryptocurrency enterprises ever since it decided to launch VARA, a single body that would oversee virtual activities like cryptocurrency trading and other related operations. Dubai is well-positioned to gain from the industry’s rapid rise given its focus on digital assets and cryptocurrencies.
VARA was created to give the virtual asset market a stable and dependable operating environment. It plans to license crypto businesses in Dubai and oversee all the related operations.
RadiantBiz for a successful company setup in Dubai
Are you thinking of starting a business in Dubai? If your answer is yes then RadiantBiz is more than ready to assist you with your business. We are a team of professionals having more than 12 years of experience in assisting business owners to launch their ventures successfully in Dubai.
We work on unique strategies that deliver results for your business setup. Starting with the trade licenses, corporate bank accounts, and visa applications, we deal with everything for you and get the work done in the fastest way possible.
How do we assist your business setup process in Dubai
- Starting with speeding up the approval of all of your third-party licenses, we will take care of everything for you.
- We provide a dependable and transparent method for obtaining employee visa permits in Dubai so that you may obtain hassle-free immigration services from the relevant government in accordance with the rules.
- We will also assist you in opening a business bank account with a significant bank in Dubai. Opening a bank account with us is a quick process.
- You’ll have access to the most recent tax legislation and administrative rules for the UAE with us on your side.
FAQs
- Is Dubai a good place to launch a cryptocurrency business? Yes, Dubai is among the best cities in the world to launch a cryptocurrency firm. The process is trouble-free, and you will receive all approvals on schedule.
- How easy is a business setup in Dubai?
Starting a business in Dubai is easier than ever. With all the business-friendly laws and regulations everything is simply about getting started in Dubai.
- What is the minimum investment required to start a business in Dubai? The minimum investment depends on several factors such as your business type, visa requirements, office locations, license fee, and many other factors. This is why you must use the cost calculator from RadiantBiz, it is an instant cost estimation tool that will give you the complete business cost idea.
- Should you work with a business setup consultant in Dubai as a foreign investor?
Yes, if you are thinking about a company setup in Dubai, then consulting with a reputable business adviser is the best method to make it quick and easy. You can choose RadiantBiz, which is a team of professionals, and experts in PRO, visas, business banking services, license approvals, and anything else you need to launch a business in Dubai, United Arab Emirates.
