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What to Know About Starting a Company in Dubai Today, Dubai is known for its magnificent appearance Dubai is basically a symbol of prosperity and success. This is a motivating story with regards to Dubai’s appearance a few decades ago. Nevertheless, Dubai’s spirited culture and call to action is what has made the difference in what used be just another desert in habitation. The economic prosperity experienced in this area of the Middle East is quite impressive to say the least. The government in Dubai has fostered an environment friendly for business by introduction of friendly business policies and favorable tax systems. Here are some facts one should know about starting a company in Dubai. It is Easy for Foreigners to Being their Startups Dubai established the first economic free zone model in the United Arab Emirates. This were to incentivize foreign businesses to set up their shops in the area. The model allows none native entrepreneurs to retain full ownership of their businesses and companies. This is a big advantage because countries that don’t have this type of model foreign entrepreneurs need to find a local partner who owns 51% of the company.
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Starting up a company in a country that is using a free zone model is very beneficial for businessmen and women because they get to be exempted from both corporate and income taxes for a fifty year period. Dubai focuses on a variety of industries, the majority being media, healthcare, and information and communication technology. If you are planning to begin a startup in Dubai, the best communities you can join are Dubai internet city and Dubai silicone oasis.
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It Offers the Most Competitive Market in the Business World When it comes to Middle East and North Africa’s entrepreneurs, Dubai is definitely their go to hub. This is due to the fact that getting a visa to relocate to Europe or the US is hard and therefore Dubai provides an effective alternative. Most entrepreneurs in this country feel that the level of competition and the size of the market in Dubai strengthens their businesses. Entrepreneurs here get to meet with a variety of professionals that offer exposure to new opportunities that can help grow their businesses. Dubai is the best entrepreneurial city in the UAE as per researches conducted. Dubai attracts the best talents and minds from all over the world. Local Support is Readily Available In order for a startup to work out, it must get a lot of support from a variety of people. Dubai happens to be a city opulent in resources. Entrepreneurs starting out here have the advantage of having a well-educated workforce and professional people surrounding them. The Free zones in the UAE together with the ready support makes it easier for entrepreneurs to succeed.