Setting up a business in Dubai means joining a city that plans decades ahead. Dubai has fully embraced the ambitious vision of the nation’s founders to always strive for more, and its rapid development, innovative approach to infrastructure, governance and society, and forward-thinking strategy have made it one of the world’s most dynamic business destinations. Every year, thousands of individuals, families, companies and investors choose to start a business in Dubai, confident in the city’s ability to provide stability and opportunity.
Dubai is not only preparing for the future, it is shaping it, in ways that will have far-reaching benefits for generations to come. It looks at how to improve what exists today, how to build foundations that can weather any storm and how to create an environment that is welcoming and inspirational. In short, there can be few other places in the world better suited to starting or expanding a business. Here are the key factors that show how Dubai’s future-focused commitment can support your plans.
The Dubai Future Foundation: Building Dubai’s Next Decade
The future belongs to those who can imagine it, design it, and execute it. It isn’t something you await, but rather create.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai
The Dubai Future Foundation captures this vision. Its stated aim is to make Dubai one of the world’s foremost future cities, and its work spans multiple sectors, with the goal of benefiting Dubai and acting as a model for other places around the world. Some of its current activities include:
- Dubai Future District Fund: an evergreen venture capital fund of funds and direct investments platform
- Dubai Centre for Artificial Intelligence: pioneering Dubai’s digital transformation and public sector innovation
- Dubai Future Accelerators: a fast-track route for the development of emerging technologies and startups to facilitate ground-breaking ideas
- Dubai Future Research: foresight and research initiatives designed to predict future trends that guide strategic planning
- Dubai Future Academy: a broad range of educational programmes for every level, intended to help individuals and companies thrive
Through these programmes and the many others it offers, students, talented professionals and imaginative entrepreneurs have a wealth of resources and support to lean on as they forge their own pathways in possibility.
Dubai’s Future-Focused Strategy: D33, the 2040 Urban Master Plan and Gaming
A huge part of what makes Dubai’s approach stand out is its scope. Every industry is considered and every sector examined for ways to improve or advance. These developments are treated as integrated pieces of a larger puzzle, where each move forward has a domino effect that lifts the wider economy. Here are some of the initiatives and programmes helping to build a future-focused economy that encourages business and growth:
- The Dubai Economic Agenda 2033 (D33): targets include doubling the size of Dubai’s economy, increasing foreign direct investment (FDI) and growing domestic demand for goods and services from AED 2.2 trillion to AED 3 trillion
- The Dubai 2040 Urban Master Plan: a 20-year, people-centred plan for sustainable urban development, with five main urban centres, double the green and recreational space and nature reserves covering 60% of the emirate
- The Dubai Programme for Gaming 2033 (DPG33): aims to position Dubai among the world’s top 10 gaming hubs over the next decade, creating 30,000 new jobs and adding $1 billion to GDP by 2033, according to Games MEA. For anyone considering gaming in Dubai, it signals long-term government backing for the sector
The Benefits of Setting Up a Business in Dubai
There are numerous reasons Dubai is one of the top choices for prospective entrepreneurs and leaders, many of them unique to the city. Whether you want to launch a new startup or expand your business to new audiences, Dubai can give you the support you need to get started smoothly and reach unexpected milestones. Here are the key points to remember when researching how to start a business in Dubai:
- A competitive tax environment. Dubai has one of the world’s most favourable tax systems. Dubai corporate tax follows the UAE federal rate: 0% on taxable profits up to AED 375,000 and 9% above that. There is no personal income tax, and some companies qualify for exemptions depending on their size and location.
- Access to key markets. Dubai’s enviable location connects you to mature and emerging markets across Europe, Asia and the Middle East, including Saudi Arabia. If you are planning to grow across the region, see our guide to company formation in Saudi Arabia.
- A streamlined setup process. The process for setting up a business continues to be streamlined, making it quicker and more efficient, and it is adaptable enough to suit many types of venture. Mainland, free zone and offshore routes each suit different goals, so expert company formation in Dubai advice is worth having from the start, including on how the UAE’s new re-domiciliation rules affect your options. Once your licence is issued, we can assist with corporate bank account opening and make introductions to banks, although account approval is ultimately at the bank’s discretion.
- A choice of visa routes. You can choose from a variety of visas to suit your situation, from employment visas to the 10-year UAE Golden Visa.
- Strong digital infrastructure. The city has a world-class digital infrastructure, with high-speed connectivity and a smart city vision.
- A high quality of life. The quality of life in Dubai is hard to rival. While it isn’t the cheapest place in the world, your money can go a lot further, so you can enjoy beautiful homes, excellent schools and the incredible culture the city has to offer, from its attractions and entertainment to its culinary hotspots and surprising adventures. Our relocation services help you and your family settle in with confidence.
Getting the Right Help When Setting Up a Business in Dubai
No matter what your goals are, making the most of Dubai’s opportunities is about getting the right help and designing a strategy that matches your circumstances. With an expert partner to advise on which route will work best for you, you can focus on how else to take advantage of the city’s astonishing programmes and drive your business to new heights.
EER Middle East supports businesses at each stage of establishing themselves in Dubai:
- Company formation and licensing: advice on the right jurisdiction and legal structure across mainland, free zone and offshore routes, and support with authority approvals through to licence issuance, as part of our UAE company formation service
- Immigration: support with residency visas, work permits and labour cards through our immigration services
- Ongoing corporate support: corporate secretarial services and corporate governance support to help your company stay compliant once it is established
If you would like to talk about setting up a business in Dubai, or any of our other relocation, immigration and corporate services across the Middle East, please get in touch today or email info@eerme.com.
