5 Reasons to Start Your Business in Dubai
Dubai has been ranked among the top five global cities for entrepreneurs, according to the latest report by knight frank. Consumer confidence index in Dubai is higher than cities like New York, London, Bangkok, Paris, Tokyo & Milan. The consumer confidence index is known as a reliable indicator of consumer sentiment on the economic situation.
To start any business one need resources (financial resources, energy resources, human resources), Infrastructure, Transportation, Buyers and above all secure and safe place. Here are 5 reasons why Dubai still is the best place for Starting a business.
Dubai has an abundance of resources. You will never feel scarcity of any resource. Top quality human resource, Economic energy resource, world’s best infrastructure, and communication technology is available in Dubai. UAE’s mobile service provider Etisalat is now working on 5 G services. Etisalat is going to be the first telecommunication company who is closed to provide 5 G services to its customers.
Sound professionals from 200 different countries of the world are living in Dubai. You can easily get work-force from interns to veteran profession of every domain. IT, civil engineering, Designing, health care, academics etc. Labors are also easily available in Dubai.
Petroleum, natural gas, crude oil & other petrochemical products are available at economical prices in Dubai. Electricity is also available for industries & manufacturing units. This city has never faced electric power cut even though it had happened once in the United State of America.
Dubai international financial center is providing hundreds of opportunity to the people with financial acumen. DIFC is Gulf’s premier financial market. It is the preferred location for investors, financiers, accountants. DIFC privately possess a financial exchange Dubai NASDAQ. Now it is competing with other big global financial hubs like New York, London, Singapore, and Hong-Kong. Recently UAE has witnessed the merger of FGB (first gulf bank) and NBAD (National bank of Abu Dhabi). This merger has resulted in the creation of the biggest bank in the MENA region. This merger will bring a lot of opportunities for entrepreneurs in Dubai also.
2 – Security
Dubai is a safe city. It’s a crime free city. This city is free from communal riots, aggressive demonstration, Agitation. Fortunately, there is no terror fear in Dubai. Although it’s a geopolitical hot spot, due to alertness and smartness of security forces and Dubai police no one has ever dared to look at Dubai with Bad Intentions. Dubai police are equipped with latest technology gadgets. They can closely observe every activity in the city without disturbing people. Dubai police fleet includes Ferrari, Lamborghini & Bentley. The crime rate in Dubai is very low. UAE is among the safest country to do business. The country has secured 5th rank on security parameters in Asia-pacific countries, as per Pinkerton Risk Index report (Pinkerton is the leading provider of risk management services). The report also revealed some more positive points about human safety in UAE like UAE has the lowest incidence of tuberculosis and also lowest per capita natural disaster deaths.
Dubai is in the top 20 safest cities in the world, according to a survey conducted by Aon Hewitt, the global human resource company. Dubai ranked 19th in the world and had the highest ranking in the middle east in the criteria of lowest risk cities.
3-Logistics and Infrastructure
Dubai enjoys the position of a significant player in international trading and transport logistics. It has the advantage of its inherent strategic location on the globe. Dubai is in the middle of the far east and Europe and situated at the crossroad of international trade between east and west. Due to its geographical location, Dubai is considered to be the gateway to the world’s most progressive markets, including Africa, India, and China.
Dubai offers immense facilities in air transportation and air cargo. Dubai has two airports Dubai international airport and Dubai World Central (Al Maktoum International Airport). Dubai international airport is one of the busiest international airports in the world. It has the world’s largest cargo hub known as cargo village, most of the cargos for Asia & Africa are using this cargo village. Dubai world central is operational but it is still in the developing phase. DWC is located in Dubai south district which is also future home for expo 2020 site. Once completed and start operation in full capacity it will become the world’s largest airport and multi-modal logistics hub with the capacity of 160 million passengers and 12 million tons of cargo per year. DWC is an integrated project of six clustered zones Dubai logistic city, commercial city, residential city, aviation city, and the golf city. Dubai logistics city is one of the largest industrial submarkets under construction. According to the latest research from Cluttons, international real estate consultancy, it has already attracted a number of high-profile players including integrated national logistics, Emirates, sky cargo, Aramex etc. DWC has one more specialty. It has world’s only 7- star airport terminal for private aviation.
Dubai’s Jebel Ali port is the largest port in the middle east, it is likely to become the biggest container port in the world. The government of Dubai and the DP world is working on the expansion plan of Jebel Ali port. According to the official statement, the current plan will multiply the total capacity of Jebel Ali port by seven, making it the world’s biggest port, surpassing the ports of Shanghai and Singapore. India and China are using it as a logistical hub for their African ventures. Due to its strategic location port is providing market access over 2 billion people across six continents. It is a gateway for over 90 shipping services connecting 140 ports in the world. The strategic geographical location and facilities made it the busiest port in the middle east, according to a research report revealed by arabiansupplychain.com based on statics of 2015. Port Jebel Ali is linked to Dubai’s express-way system and to the Dubai international airport cargo village. The rapid transportation facilities available in Dubai made it possible to achieve ship-air and air-ship connectivity in four hours. Dubai has two more ports Port Rashid and Al hamriya.
Dubai has one of the best road infrastructures in the world. According to the world economic forum’s travel and tourism report (2013), the UAE has been rated second best in the quality of roads. Dubai is known for wide roads with disciplined traffic and centralized monitoring system by high-tech cameras and radar. The Dubai metro is world’s largest automated driverless train system, with more than 70 Km of magnetic tracks. The government is working on an extension of the metro route and connecting metro to expo 2020 site. Soon Dubai will enjoy connectivity with 1200 km long Etihad railway network. This network will connect all major population, trade and industrial zones across the UAE. This will fulfill freight & passenger needs. Dubai will be connected with the GCC rail network also. GCC railway is 2,117 km long rail network this will connect all six countries of gulf corporation counsel. Transportation of goods will become easy for UAE, Saudi Arab, Kuwait, Qatar, Bahrain, Oman. The Dubai government is developing a 500 Km road network and 120 multilevel interchanges by investing $ 12 billion. The development work is expected to complete before expo 2020.
4 – Tax-Free
Dubai and UAE as a whole is a tax-free business environment whether it is free zone or mainland Dubai has zero corporate and income tax on businesses. Dubai Government is passing legislation to open more and more tax-free zones to support different industries. The government is providing world-class urban amenities to the residents. This country allows you to start a business, provides infrastructure to nourish, give facilities to spread it across the globe. Dubai has a lot of options for leisure to enjoy the money and again great opportunities to invest the money. Dubai’s economy has evolved on the back of business-friendly regulations. The city has become a popular destination for wealthy individuals because Dubai gives them the freedom to enjoy and invest their money. The presence of HNWI’s in Dubai is also an additional advantage for aspiring entrepreneurs.
Dubai is very well located for cross-country trade. If you are in Dubai you can easily trade with the Gulf, African and Asian countries. You can reach up to 1.5 billion populations in the range of 3000 km & you will get the chance to showcase your work in front of international buyers. Every month Dubai is hosting 5 to 6 trade shows or international exhibitions. By participating in these events you can network with international companies and you will explore more opportunities without disturbing regular operations. The government has announced the establishment of Dubai wholesale city. The new establishment augments the emirate’s position among the cities which matter for the big business. Dubai Chamber of Commerce reported registering 8,000 new companies in the first 6 months of 2016. The growing number is a clear indicator that Dubai is still an attractive destination for global investors.