In less than 40 years, Dubai has transformed itself from a local trading community into one of the most inspirational, exciting and successful cities in the world. Dubai’s progress continues to make global headlines and its attraction as a destination for tourists and businesses alike is now legendary. With a diverse, multicultural population, Dubai offers its residents and businesses a unique environment, enriched with the cultures of more than 190 nationalities and a quality of life and work unrivalled in the Middle East. It is a bustling metropolis with a combination of Emirati heritage, Arabic vitality, Western spontaneity and Asian ambition.
With an indigenous population of just 170,000, the number of Dubai expatriate residents now stands at more than two million, thanks to its lifestyle appeal and investment incentives. The tax-free policies and penalty-free repatriation of earnings have enormous benefits on both a personal and business level, with outstanding opportunities for private savings and professional profits. As thousands of new businesses are discovering each year, Dubai is the perfect gateway between East and West and the lynchpin for the region’s imports and exports market – one of the most lucrative in the world.
Dubai has more than 20 free zones catering to specific service and industry markets to ensure that both startup companies and established corporations maximize their competitiveness in the Middle East.
The free zones cover the entire spectrum of business sectors from technology and media to finance and biotechnology and everything in between. For example, Dubai International Financial Centre operates under a unique legal and regulatory framework to optimize financial sector growth, and Jebel Ali Free Zone, incorporating one of the largest commercial ports in the world, offers companies an unrivalled logistics base. Dubai Healthcare City provides prime opportunities for elite medical professionals to conduct business with some of the most progressive facilities available, and Dubai Studio City, designed to accelerate the growth of the broadcast, film, television and music production industries, is the perfect launch pad for companies looking to break into one of the world’s fastest growing media markets.
Foreign companies are entitled to 100% ownership in free zones and are provided with world class infrastructure catered to their specific needs.
According to the City of London’s Global Financial Centre’s Index, Dubai has the most developed financial services industry in the region. Being well capitalized, UAE banks are more active in lending to private businesses than their regional counterparts and offer greater variety and sophistication of financing products and services.
Intellectual Property Rights
The UAE is a regional leader in the protection of Intellectual Property Rights, with ever evolving enforcement copyright, trademark and patent laws.
In accordance with its World Trade Organization membership, the UAE has made huge strides in reducing bureaucracy surrounding the foreign investment approval process. Online applications, tracking and enquiries mean that starting a business in Dubai is easier than ever.