- August 12, 2018
- Posted by: admin
- Category: Dubai
A port city that is hosting Expo 2020 definitely cannot be an ordinary community! It screams immense success, great inspiration, luxurious living, attractive sightseeing destinations, and exciting adventures! It is no wonder then that various cultures from across the globe opt to settle down in Dubai, and even launch novel businesses.
While the indigenous populace of this city is below 200,000, the expatriate populace goes beyond two million! It helps that the city is located in a strategic place, wherein the time zone is centralized. There is a combination of both Western and Eastern business hours, suiting every area in the world. Thus, Dubai is the perfect gateway between the East and the West, which offers some of the best reasons to set up a thriving business there.
Political and social stability
The UAE came into being in 1971, with a constitutional monarchy in control. Until today, its Founding Fathers have taken great care to ensure that its citizens continue to believe in the peaceful and just practices of past and present governments.
It is obvious that the rest of the world trusts the Emirate too, since it honors 4 permanent missions, 80 embassies and 18 consulates across the globe. In short, the UAE is globally involved in 102 diplomatic missions, thereby suggesting that it is passionate about maintaining global harmony.
Within the Emirate itself, there are 73 foreign consulates and 110 foreign embassies. If this is not enough, the UAE is also a member of the UN, GCC (Gulf Cooperation Council) and the Arab League. To top it all, the Global Peace Index of 2016 categorized it as the third most peaceful nation in the region of Mena in South Africa and the Middle East.Unlike other nations, it refuses to import weapons, thereby ranking last on the list of 163 countries.
It follows, therefore, that expatriates may consider themselves perfectly safe on the streets, at their business premises, at the workplace and at home. The police are extremely efficient, happy that crime in this region is almost non-existent! It also helps that the indigenous population practices tolerance and acceptance of diverse cultures. Furthermore, people generally believe in moderation in all aspects of life, despite access to all manner of luxuries.
A stable economy
The fact that the UAE promotes liberal policies with regard to setting up of businesses on its soil, and its Government is ready to address every need in the arena of international trade and business, should suffice to fill you with confidence, if you plan to set up something in Dubai. Dubai occupies the envious position of fifth rank in the world for finance, logistics, trade and tourism!
Over 50% of the global Fortune 500 companies have branches in Dubai, since it is the gateway to South Asia, the Middle East and Africa. The entire region hopes to garner a GDP beyond $12.8 trillion by 2030. With its attitude of ‘always ready for change’, Dubai has become the leader of smart cities in the Middle East.
You should also know that the UAE has been a member of the World Trade Organization (WTO) ever since 1996, as well as a member of the Greater Arab Free-Trade Area (GAFTA) for quite some time. Since 1994, it has been in agreement with the General Agreement on Tariffs and Trade (GATT).
It has collaborated with the EFTA Bloc and Singapore for initiating Free Trade Agreements, in 2008 and 2009. Finally, it has Free Trade Agreements with Korea, Japan, India, Turkey, China, Pakistan, the EU, Australia, and the Mercosur Bloc (Paraguay, Brazil, Uruguay and Argentina).
Despite its desire to prevent monopoly and boost the ‘competitive spirit’, the UAE has tight control over exported goods. Its laws will not allow illicit goods to enter the Emirate. However, the Government grants complete encouragement in the arenas of import, foreign exchange and allotment of visas, specifically in the private sector. The idea is to create a future that goes beyond the highly prominent ‘oil’ trade.
Infrastructure and manpower
Wherever you opt to set up your official headquarters in the UAE, even Dubai, you may expect to have access to superb infrastructure facilities! The network of ports, roads, airports and railways is only growing every year.
Furthermore, the UAE is willing to expend millions on construction works and development projects, in order to garner a significant share in the global economic sector. With the most modern of internet technology, the UAE promises to protect your trademarks and intellectual property. You need not worry about piracy, since there are strict laws in place.
With regard to re-export and cargo, Dubai places two huge and busy ports at everyone’s disposal – Jebel Ali Port and Port Rashid. The former boasts of 63 berths and the most modern of facilities. It is an economic free zone. The latter has 35 berths.
Then again, you may depend on two airline carriers, such as Fly Dubai Emirates and Emirates Airlines to take charge of all your ‘business and travel’ needs. The former reaches out to over 50 destinations. The latter caters to 120 destinations via its 160 aircraft. The authorities plan to go up to 280 aircraft by 2020.
It should be easy to recruit employees and hire requisite labor too. The UAE encourages people from across the globe to work in its seven emirates, in order to make hiring more cost effective for foreign investors. It helps that you do not have to pay income tax, regardless of whether you have registered your company in the free zone or as a mainland establishment.
You should find it easy to hire your workforce, since the UAE encourages labor from across the globe to work in any of its seven Emirates. The idea is to make it cost-effective for foreign investors to gain a reliable set of employees. The majority of the local populace converses fluently in English, making it easy for foreigners to engage them. Thus, the UAE beckons you to enjoy the best of both worlds, professional and personal.