By Gary Peters
DUBAI, UAE, July 07, 2022 /24-7PressRelease/ — According to the Global Investment Report issued by the United Nations Conference on Trade and Development (UNCTAD), the UAE is the second greatest recipient of foreign direct investment (FDI) in Western Asia. Foreign investors are mainly drawn by the country’s economic stability, the low energy costs the tax-free environment for companies, the absence of limitations on repatriation of profits and the Government’s openness towards a diversified economy. Among the most developed emirates is Dubai which is the second largest city in the country. The city currently hosts a great number of expatriates living and working or owning companies in Dubai. The United Arab Emirates Leadership was one of the strongest when it came to its handling of Covid-19, safety and security for its citizens and residents alike.
The main reasons investors find Dubai attractive
When it comes to foreign investors choosing Dubai for starting a company in, there are many. The most important ones relate to:
* the political and economic stability offered by the country which has a positive influence in Dubai;
* registering a company in Dubai is very easy and fast which is one of the most important aspects quoted by foreign investors;
* there are plenty of industries in which foreign investors already thrive in and which are used by * * other overseas entrepreneurs who want to come here;
* Dubai is one of the wealthiest cities in the world and it offers a good quality of life and high living standards;
* Dubai is one of the main trading hubs in the Middle Eastern region and in the Gulf Cooperation Council;
* Dubai has one of the most impressive infrastructures in the world, in terms of road and airways.
There are many reasons for which foreign investors choose Dubai as a city to open companies. Most of them choose Dubai as their city to live in.
Investment opportunities in Dubai
The most developed industries in Dubai continue to remain the oil and gas and financial sectors. The banking sector has favorable rules for foreign investors setting up companies in Dubai. The real estate market also offers great investment potential to foreign citizens as the Government has created a very flexible regulatory environment for those purchasing properties in Dubai. The other industries offering investment possibilities are the services and agricultural ones which also benefit from special incentive schemes.
Dubai’s free zones are also one of the Emirates strongest attractions for foreign investors as there are no restrictions for opening companies in any of the city’s free zones. Dubai is home to more than 20 free zones at the moment and their number is still increasing.
Recently, the Government has launched the Dubai Smart City Program which offers foreign investors a modern infrastructure for company registration services.
Dubai’s taxation system – a good investment reason
One of Dubai’s strengths compared to other important cities in the world is taxation. Even if the last two years have brought significant changes, such as the introduction of the value added tax and excise tax, there are still plenty of reasons for choosing Dubai for its taxation system. Among these, we enumerate the following:
1. Dubai does not impose any taxes on individuals and companies working, respectively operating here;
2. the repatriation of profits from Dubai to other countries is most of the time free of any tax;
the UAE has signed many double tax agreements, Dubai residents and resident companies can take advantage of;
3. Dubai has many free zones (one of the largest numbers in the world) which provide for no corporate taxes;
4. there are no employment taxes in Dubai, which in other countries are one of the most important tax burdens.
With a vast experience in company registration in Dubai, our local advisors can also explain how to benefit from the tax reductions and exemptions granted by the local government.
Dubai, also spelled Dubayy, city and capital of the emirate of Dubai, one of the wealthiest of the seven emirates that constitute the federation of the United Arab Emirates, which was created in 1971 following independence from Great Britain. There are several theories about the origin of the name Dubai. One associates it with the daba—a type of locust that infests the area—while another holds that it refers to a market that existed near the city. In recent years Dubai has been compared to Singapore and Hong Kong and is often regarded as the Middle East’s premier entrepôt. Area 13.5 square miles (35 square km). Pop. (2017 est.) 2,919,178
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