When it comes to businesses and start-ups, UAE seems to be the top choice of the entrepreneurs in recent years. This comes as no surprise given the fact that it is the second fastest growing economy in the Middle East and North Africa region. Here is a closer look at what makes UAE attract entrepreneurs from around the world.
A Landscape That Welcomes Start-ups Warmly
The government of Dubai, in the Vision 2021 National Agenda, declared that new businesses will get preferences from now on. The aim of the agenda is to ensure greater economic stability in the region. In the past years, a host of highly successful start-ups have chosen Dubai for company formation. In fact, the mechanics of opening a company is so simple that you can start the operation in a matter of a week.
Expo 2020 Is Knocking At the Door
Dubai won the bid for hosting this esteemed event back in 2013. UAE will host the event for the first time, and it presents huge opportunities for the entrepreneurs. Expo 2020 will allow UAE to showcase itself to a global audience. As a result, the entrepreneurs can expect stronger links with investors and countries, when they begin operating in the region. It will also lead to greater infrastructural development in the form of new highways, bridges, and tunnels.
The Lifestyle Factors to Attract Businesses
UAE’s incredible cultural and lifestyle choices are one of the main reasons why people and businesses get attracted to the region. For the vast number of multinationals setting up operations in Dubai, factors like entertainment, leisure, and shopping play a major role. The buzz of the business where everyone is high on energy to get the job done is quite infectious to any entrepreneur.
The Lucrative Rate of Taxation in the Region
A description of the lure of UAE is never complete without a mention of the favourable tax rates in the region. Setting up a business in Ajman Free Zone means you will have to face no worry of taxes. The taxation is basically zero, except banking and oil industries.
The rise of UAE, as a business hub, in the eyes of the entrepreneurs has just begun. With the introduction of more facilities in future, its position as one of the foremost economies of the world will get further cemented.