Dubai works to create best ecosystem for startups
A 2018 report on the Middle East and North Africa (MENA) region revealed that UAE is the most active ecosystem for startups. Within the UAE, Dubai is known for having the most pro-business, entrepreneur-friendly environment. The city is rightly touted as the gateway to more growth and opportunities. However, there are several aspects of investing in the region and it is important to be well-versed before making the plunge.
Advantages of Dubai - The hub of innovation
There are some inherent advantages of the Gulf region when it comes to startups. The UAE, especially Dubai, is known to be a centre of innovation and excellence. The region also is extremely well connected with the rest of the world. The fact that Dubai enjoys a stable political climate also adds to the list of pros. The degree of innovation that Dubai has can directly be correlated with its internal diversity.
Mainland company setup in Dubai
With the recent law allowing 100% foreign ownership in Dubai, mainland company setup has become simpler. The idea is to encourage foreign investors, especially first-time entrepreneurs. These businesses become economic facilitators, thereby resulting in the nation's growth and development. A business setup in mainland earlier would require you to canvass for a local partner. With the new law coming into effect, investors can straightaway get down to business.
Free zone business setup in Dubai
The other option is to go for a free zone business setup in Dubai. You enjoy the tax and customs exemptions of free zone businesses. You do have certain limitations such as staff number and not having the permission to own office space. However, based on the jurisdiction in which your startup will be based, you may enjoy certain additional benefits.
Why should you hire consultants?
It is established that Dubai has an amazing startup ecosystem. Your business is more likely to flourish and rake in profits in Dubai than anywhere else in the world. But, as outsiders, how do you ensure that you are able to make the best of this opportunity? By hiring consultants, of course. With minimum investment, your mainland company or free zone start up can receive a holistic advisory model.
Choose specialized consultants for your startup
It is important that you hire the best business setup consultants for you. You need the guidance of experts who specialize in your business segment. Your consultants should be able to help you cut through the complexities and simplify things for you.
Your consultants should be able to simplify the entire process of setting up your startup in Dubai so that you can focus on the most important thing - making profits.
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