Is Dubai the right place to start a business?

Here are 10 factors that every entrepreneur should consider while starting a business.

"The GCC economic system has seen several changes in 2018. This has created uncertainty among entrepreneurs willing to start a business in Dubai," said Mr. Jashvant Prajapati - the Finance Director of Shuraa Business Setup.

Mr. Prajapati has been a business setup advisor for more than 15 years. He has helped various levels of entrepreneurs start a company in Dubai and across the UAE.

Mr. Prajapati noted that there are several factors that make Dubai the right place to start a business. He set down 10 factors that every entrepreneur should consider while starting a business.

1. Ease of starting a business

Starting a business in Dubai only takes a few days. Thanks to the user-friendly governmental procedures and renowned business setup companies in Dubai.

2. Cost of starting a business

The cost of a Dubai mainland company is as little as AED 30,000. The said amount includes license fees, registration fees, bank account opening, office space, immigration card, UAE local partner, visa cost, a stamp of the company, owner medical and Emirates ID. Find out more about this business setup package.

3. Ease of obtaining permits

Getting permits for business setup in Dubai is extremely important, but availing them is easy, fast and affordable compared to other countries.

4. Access to utilities

Businesses have access to world-class utilities and technological advancements. This is the reason why multinational industries and manufacturing units make Dubai as their base.

5. Ease of registering property

The International Monetary Fund reported that UAE property prices have fallen by 5.9 per cent and rents have decreased by 22 per cent. Also, property registration for expatriates has become easier.

6. Availability of credit

The UAE government and the local banks also provide businesses monetary supportive measures in terms of relief, credits and loans.

7. Protection for SMEs

Dubai is a haven for SMEs. More than 90 per cent of the total enterprise population in Dubai is small to medium in size. A full-fledged governmental body called Dubai SME ensures protection and welfare of these SMEs.

8. UAE taxation

UAE still does not charge any type of direct tax such as income tax or corporate tax. Only value-added-tax is charged at 5 per cent, which is a much smaller amount compared to the rest of the world.

9. Level of trade

Dubai is located at a junction between the African, Asian and European continents. The strategical geography makes Dubai an excellent place to trade. The level of trade can be simply determined by the enormous number of trading companies in Dubai.

10. Labour market regulations

The strategic location also makes way for a wide labour market. However, the Dubai government safeguards and protects employees and employers through their fair labour regulations.

If you would like to learn more about starting a business in Dubai - speak to Mr. Jashvant Prajapati or any of our business setup consultants. Simply drop in an email to info@shuraa.com, you can also call on +97144081900 / WhatsApp +971507775554 or log on to https://www.shuraa.com/

• KT Engage