If you intend to start a business with a low-cost, then Dubai is the place to be! The city is amongst the leading commercial hubs of the Middle East that has an abundance of business and investment opportunities for Small and Medium-sized Enterprises (SMEs). Due to its strategic positioning in the peninsula and easy accessibility to UAE’s neighboring countries makes it attractive for both local and foreign investors.
The Dubai Government is supporting startups and novice entrepreneurs by creating the business setup process easier and affordable for everyone. The government has implemented several policies, such as decreased restrictions on foreign ownership and revised tax policies to befit the requirements of SMEs. Moreover, numerous projects have been engineered to make Dubai a desirable destination for small businesses among the leading commercial hubs of the world.
Low-cost Business Resolutions for SMEs
The initial financing has proven to be a crucial setback for the bulk of businesses. Most of the aspiring entrepreneurs abstain from starting their enterprises owing to costlier investment requirements. Dubai, as an emerging center for SMEs, diminishes this gap with the abundance of low-cost solutions.
There are a plethora of Free Zones open that offer minimal rates to facilitate small and medium-sized businesses. Free trade zone Business setup in Dubai is suitable for small companies that provide a broad range of services to them. The multiple benefits offered by the economic zones include complete foreign ownership, tax exclusions, easily obtainable office locations, effortless transportation, and decreased prices. Facilities such as these make it more accessible for new enterprises to manage their business at low operational costs.
Determinants that Make Dubai Perfect for Startups
Small businesses are the chief causes of Dubai’s economic extension. Therefore, it’s administrative body is expediting the shaping of Dubai into a fitting place for prolific and thriving SME’s.
The determinants that make it excellent for setting up a business are:
Smart City Project
Dubai Smart City 2021 is a massive project that promises to give business and investment opportunities for all industries of the UAE. In addition to that, this project places remarkable emphasis on shaping and molding the future of the country. The principal goal of this initiative is to capitalize on the latest technologies like blockchain, robotics, artificial intelligence, and self-governing (autonomous) transportation to step into the future. SMEs are the driving factor that aids in the implementation of this ambitious yet intense project. It transforms Dubai into the most suitable business hub that incites innovations and technological advancement in the emirate.
The first task while setting up a business is to arrange seed funding. It has presently become exceedingly convenient due to the improvements in government policies that include lax tax reforms. The Emirate is pulling several investors, both local and foreign, with its accelerating commercial growth. As a consequence, investment and business opportunities for investors in Dubai are at an all-time high. It is a massive relief for emerging enterprises and makes low-cost business setup possible for SMEs.
Dubai is leading from the front when it comes to advanced infrastructure amenities. The Dubai government is financing heavily to improve the existent facilities to make it affordable and readily accessible. There are countless projects intended for further advancement of the city’s business landscape. SMEs can work in readily available and economical office spaces. World-class conveniences and transportation facilities are also an added asset for the sustainable progress of the region.
Critical Perks for SMEs in Dubai
With rising business and investment opportunities for SMEs, business setup in Dubai is both advantageous and profitable.
The advantages of setting up a business are:
- Firms can start at lower setup costs as there is no minimum capital requirement
- Office spaces are available at notable locations with convenient transportation and other facilities.
- The availability of a business visa has become much more relaxed and is issued in a shorter time.
- Government policies have been improved to cater to the business setup requirements of SMEs.
- It is simpler for medium and smaller ventures to flourish in Dubai’s business-friendly climate.
Getting started with Low-cost Business setup
Starting a new company in the UAE includes a well-defined procedure that can be carried out in numerous stages. It involves picking a suitable business activity, attaining a proper business location, selecting a trading name, providing the required documentation to the requisite regulatory authority, and ultimately applying for the necessary business license to make your venture legal.
Want Some Help?
While the Business incorporation procedure is quite easy, it is highly recommended that you hire business setup consultants that will guide you and make the entire setup process hassle-free and straightforward. Here at KWS Middle East, we give a sound and logical solution for all your business setup requirements.
Do not hesitate to give us a call in case of any queries.
Contact us today and book our commitment-free consultation call today!