Why are people heading halfway around the world to do business in Dubai? For starters, it has become a global hotspot and travel destination for some of the wealthiest people in the world as well as your every day tourist. This is just the start of the reasons doing business here is fantastic.
Corporate Taxes
One thing that keeps big business out of many areas is infrastructure and sky high corporate taxes. As long as you are not considering a business in oil, tobacco or banking, you can count on taxes being virtually nothing. You may even be able to take advantage of the many incentives the government has put in place to lure more investors to the emirate.
Straightforward Approach
Another thing you will frequently hear about setting up shop in Dubai is how simple it is. Again the government has thought ahead to maximize growth and made the process as easy and painless as possible.
What Type of Business?
When you consider the tourism and oil combination that makes up Dubai, you have a recipe that calls for many different types of support businesses. Everything from construction to the health and beauty sector are wide open in Dubai. So whether you are thinking about relocating an established corporate holding or simply want to open a food truck on the beach, the possibilities are practically endless.
Some options include:
- Automobile service
- Bookkeeping- Perfect for the work from home types
- IT industry- an emerging field in Dubai
- Photography- possibilities abound from tourists to marketing images
- Real Estate- maybe one of the most lucrative and booming businesses
- Employment agency- help other businesses find the perfect candidates
- Vending – toys, novelties and candy
Things to Keep in Mind
Rents can be high in the city proper, which is one reason many businesses are looking at surrounding areas to set up base. Of course, that is not feasible for every business type so do your homework on space availability and costs.
It is imperative to remember you are in an Islamic country and will most likely partner with those who are devout. If you simply respect the customs of the country and educate yourself on any that will affect your particular type of business, you will be fine.
Final Thoughts
Dubai has flourished over the last 50 years. Where once it was a simple backwater fishing settlement, it is now a jewel in the desert. It is truly amazing what has been accomplished in this area in such a short amount of time, but have no fear the “gold” rush is not over by any means. You can still start a very profitable enterprise in Dubai.
