Is It the Right Time to Start your Business in Dubai?

You have a great business idea but are hesitant about sharing it with the world because you’re unsure if this is the right time to start your business in Dubai.

Hmm, your indecision is understandable.

The market can be a cruel place and deny you a second shot at living up your dream if you fail once. That’s why it is important for you to make the first chance count. And for that, you must get the timing of your business launch spot on.

Genuine as your worries are, they are actually unfounded. Because this is the right time to launch your business in Dubai.

There is tremendous potential in the market at present and one of the main reasons for that is World Expo 2020 to be held in Dubai.

Investors and successful businessmen from across the globe are now showing interest in Dubai, which is fantastic news for startups like you. It means finding an investor in the present market is likely to be relatively easier.

Apart from the much-awaited World Expo 2020 and the interest it has generated, there are several other reasons why you shouldn’t delay the launch of your first business in Dubai for even a moment.

Let’s look at some of these reasons:

• The cost of doing business is low

According to a report, the Strategic Affairs of Council and Dubai Chamber have looked at lower the cost of doing business here. According to the report, the authorities are going to closely examine the concerns raised by existing businesses about high costs of doing business in Dubai and come up with apt solutions. Through this study, Dubai wants to convince investors and businessmen alike that the business environment here offers unique advantages like cost-effective measures and condensed legislative procedures.

• VAT

Dubai is an extremely business friendly city. If you do business here, you wouldn’t have to worry about many types of taxes like corporate, personal, and others.
That said, VAT (Value Added Tax) was introduced here on 1st January, 2018. However, VAT will prove to be a great thing for businesses. While it appears to be an extra expense, it is going to be reimbursed in the supply chain. Another thing to note is that VAT’s implementation will boost the welfare systems in UAE and Dubai, and this in turn will provide better scope to startups.

• Full Ownership to SME’s

Dubai SME is seriously thinking about offering complete ownership—100 percent ownership, that is—to all SME companies. This is a very big move. A fresh regulation was declared publicly for “Incubators & Business Accelerators”. This is open for all innovative entrepreneurs. Businessmen in Dubai can submit an application to obtain an incubator business license. The concerned authority will scrutinize the feasibility, and if it their finding is favorable, the businessmen will not need a sponsor.

• Open Trade System

Dubai is a great place to start your business because is part of the Open Trade System. This basically means that startups here enjoy the security to enter into international markets and enjoy stable and dependable trade relationships. Dubai participates extensively with business leaders across the globe, including North America, Europe, Africa, and Asia.  

• Repatriation

Taxation is almost non-existent in UAE. Precisely for this reason, majority of expats prefer not to move their money out of Dubai. However, if you need to move your money to another country, you can do this comfortably because the exchange rate with the USD is stable.

• Willing Investors

Dubai is growing with every passing day, and so are the needs of its residents. In other words, there’s a lot of room for new businesses here. That’s why, if your business idea has strong potential, finding an investor today is likely to prove relatively easier. Of course, you will need more than just a business idea to impress your investors. Along with it, you would require a detailed and clear business plan. You must also have excellent pitching skills.

If you need help to launch your business in Dubai and UAE, like preparing a smart business plan, you can count on our help.