Over the past two decades, Dubai has metamorphosed into a business hub and now stands amongst the competitor cities across the globe. It is an immensely attractive business destination not only for established companies, but also for those looking for business formation in Dubai. One of the 7 emirates, this Arabian city is the best destination for any organization that is aiming to capture the rapidly increasing markets of the Middle East as well as Asia and Africa.
Because of the strategic geographical location, Dubai serves as an ideal gateway between the East and West, hence promoting the import and export industry. There are several factor that makes business formation in Dubai quite successful. These include:
· Successful economic growth
When it comes to economic growth, Dubai is amongst the most successful of all emirates. It has diversified from just as an oil producer city to a business center for a variety of sectors that includes trade, transportation, medical, logistics, internet, hospitality and tourism etc. All of these businesses account for over 60% of the Gross Development Production of Dubai.
· Foresighted Leadership
Dubai is counted as one of the most successful modern city across the world; all thanks to the foresightedness of the people leading this Arabian city. The city of Dubai, which was just known somewhat to only a few people as a dusty trading outpost, is now a major global destination for tourists, and business seekers, just because of the visionary leadership of this place.
· Governmental support for business development
The economic agenda of Dubai has been transformed majorly because of the Department of Economic Development (DED) of the city. This government department works to improve and enhance the economy of Dubai and also makes sure of creating a favorable atmosphere for the foreign investors as well as the locals.
· Dubai Free Zones
This UAE emirate has more than 25 Free Zones, where one can invest in a business having a complete ownership (no need of a local sponsor). Each of the free zone accommodates a particular industrial and business sector. Governed by a separate free zone authority, each of these zones has their own rules and regulations regarding the repatriation of profit and capital.
Adam Global can guide you more on the advantages of forming a company in Dubai. So, contact them today.