The Dubai Advantage: Why setting up your company here is a game-changer for entrepreneurs

Being a global business hub, Dubai offers a conducive environment for entrepreneurs seeking success in their business ventures. Setting up a company in Dubai has the potential to be a game-changer for aspiring business owners. This is attributable to the city’s strategic location, tax-free system, business-friendly policies, diversified economy, and top-notch infrastructure.

In addition to its minimal corporate tax and import/export duties, Dubai offers compelling incentives for foreign investments and international business expansion. These incentives include the freedom to repatriate 100 per cent of revenues and profits, as well as significant reductions of up to 50 per cent on over 1,500 government fees.

Besides, it presents unparalleled access and prospects to a vast population base, with around 2.5 billion individuals residing within a four-hour flight radius of the city. Moreover, an astounding 5 billion people can be reached within an 8-hour flight or less. This makes Dubai an extraordinary gateway to some of the world's most significant emerging growth markets. Due to this exceptional accessibility position, Dubai has become a strategic location for businesses looking to tap into and explore thriving markets on a global scale.

In addition, UAE's commitment to fostering entrepreneurship is the key priority of its Fifty Economic Plan. This plan sets out 5 major pillars that form the basis for the UAE's economic strategies by 2030. These pillars include promoting an integrated economy that enhances collaboration between sectors, supporting entrepreneurship and SMEs to drive growth and innovation, developing the tourism sector as a global destination, attracting foreign direct investment to stimulate economic growth, and prioritizing exports and talent retention to diversify the economy.

At the beginning of 2022, the UAE also made an important decision to introduce corporate taxes to provide support to small businesses. The tax rate set by the government is 9 per cent on taxable income that goes beyond Dhs375,000 ($102,000). This rate is considered one of the lowest and most competitive globally, aligning with the UAE's objective of remaining an attractive destination for business and investment. This move aims to create a favorable environment for businesses and uphold the UAE's position as a leading hub for economic opportunities.

Moreover, Dubai offers a compelling advantage for entrepreneurs as it does not impose personal income taxes or taxes on real estate or stock investments. This favourable taxation environment enhances the potential for higher financial returns for individuals and businesses operating in Dubai.

Additionally, the government has created free zones specifically designed for foreign investors, providing them with tailored support services and streamlined processes. These free zones offer attractive incentives such as 100% ownership rights, exemptions from import/export duties, corporate and income taxes, and the freedom to repatriate capital and profits.

As part of the UAE Centennial 2071 plan, the country has dedicated investment and development efforts toward 4 crucial sectors: education, the economy, the Government, and the community. This comprehensive plan fosters unity and creates a conducive environment that supports exponential growth. It reflects the government's commitment to enhancing the economic standing of the UAE and Dubai. This makes it increasingly attractive and accommodating for businesses from diverse industries worldwide. By focusing on these key sectors, the UAE strives to strengthen its economic stature and ensure long-term prosperity for the nation and its residents.

Not only this, but Dubai has also consistently achieved remarkable standings in various global economic assessments in recent years. It secured the top position worldwide in the field of entrepreneurship and was recognized as "the most supportive environment for entrepreneurship", according to the Global Entrepreneurship Monitor (GEM) report in February 2022.

Dubai has also received high scores across indicators such as the presence of favorable opportunities to initiate businesses and the availability of skilled individuals, knowledge, and expertise to establish and nurture enterprises. These accolades highlight the exceptional environment for fostering entrepreneurship and its commitment to providing conducive conditions for businesses to thrive.

When it comes to company registration in Dubai, Avyanco is the solution. As a business setup company headquartered in Dubai, Avyanco Business Consultancy actively contributes to the UAE's goal of becoming an entrepreneurship hub in the region. Avyanco understands the unique advantages that Dubai presents and is committed to helping entrepreneurs leverage them to their fullest potential. By harnessing Avyanco's expertise, entrepreneurs gain access to a wealth of knowledge, support, and guidance needed to kickstart their business ventures. 

Avyanco's services are tailored to meet the diverse needs of entrepreneurs at every stage of the company formation process. Whether it's providing expert advice on refining a business idea, navigating the complexities of legal and regulatory requirements, conducting thorough market research, or crafting a comprehensive business plan, Avyanco is a trusted partner in every step of the way.

The company's team of highly skilled professionals ensures that entrepreneurs receive personalized attention and guidance, helping them make informed decisions about their business structure, jurisdiction, and trade licensing requirements. Avyanco understands the significance of selecting the right jurisdiction, be it a mainland establishment for local market penetration or a free zone setup for global outreach.

Avyanco's commitment to service excellence extends beyond the initial business setup phase. The company assists entrepreneurs in securing visas for employees, facilitates corporate bank account openings, and provides comprehensive accounting and bookkeeping services to ensure financial compliance. Moreover, Avyanco supports entrepreneurs in navigating the intricacies of Value Added Tax (VAT) registration and compliance, protecting intellectual property, and developing robust marketing strategies.

Jashvant Prajapati, CEO of Avyanco, has also shared his enthusiasm about the company's role in supporting entrepreneurs:

"We firmly believe that Dubai holds tremendous potential for entrepreneurs, and our mission at Avyanco is to empower them to turn their dreams into reality. By providing comprehensive services, expert guidance, and a deep understanding of the local business landscape, we aim to be the trusted partner that entrepreneurs can rely on throughout their entrepreneurial journey."

"The recent revision of foreign ownership regulations in the UAE, particularly on the mainland, represents a significant and transformative development for the investment landscape in Dubai. This change is expected to enhance the ease and flexibility for investors in establishing their companies. At Avyanco, we embrace these positive advancements and are delighted to expand our range of solutions to include FDI company formation," he commented.

"The introduction of the FDI formation structure will undoubtedly amplify the attractiveness of the UAE as a regional investment hub, and we eagerly anticipate welcoming new ventures across various sectors," the CEO of Avyanco added.

Entrepreneurs seeking to take advantage of "The Dubai Advantage" and establish their companies in Dubai can reach out to Avyanco. With their extensive expertise and commitment to excellence, Avyanco is ready to unlock the doors to success for entrepreneurs across various industries.

For further inquiries, feel free to contact:

Avyanco

+971 50 398 9000

+ 971 4 240 5000 

https://avyanco.com/

(Above mentioned article is consumer connect initiative. This article is a paid publication and does not have journalistic/editorial involvement of IDPL, and IDPL claims no responsibility whatsoever)