The UAE is a confederation of seven emirates, each with distinct business advantages for foreign investors. Once you know that you want to set up an offshore company, you simply need to choose which emirate in which to do business. Of the seven, Dubai is among the best choices for offshore accounts for a wide range of reasons.
The Hub of Business
In the Middle East, Dubai has become the hub of business and has transformed itself into one of the most inspirational and successful cities in the world. Today, this beautiful city draws millions of tourists, investors, and businesses alike. Of the more than two million people living in this emirate, only an estimated 170,000 are indigenous. The rest are expatriate residents drawn by the ample opportunities available.
Dubai’s strategic location allows consumers easy access to your company and vice versa, allowing you to find and take advantage of multiple opportunities. Over 2.2 billion consumers are within easy reach, and you can make use of the centralised time zone that combines Eastern and Western business hours. This is the preferred location for both the region’s import and export markets, making it one of the most lucrative in the world. Offshore company formation in Dubai is thus one of the best decisions you could make for your future.
Dubai, and the UAE in general, has continuously been the most successful economy within the GCC region. After a brief setback in 2009, the economy has seen an enormous return and has posted growth during the last eight years. Trade, logistics, tourism, and more accounted for nearly 60% of Dubai’s GDP in 2011 alone, and that grew by 4.6% by the end of 2012. Lower prices on housing, water, gas, and electricity reduced annual inflation significantly, causing an even larger influx of foreign investors in the last several years.
Due in large part to liberal labour policies, it is extremely easy to find experienced and qualified talent from almost any part of the world. UAE governments invest heavily in the training of their national workforce to help play a larger role as competitive members of the economy. Whatever offshore company you may want to establish, you can rest easy in the knowledge that you will have high-quality talent from whom to choose. Many businesses succeed or fail on the strength of their employees, and you will have your pick of top professionals.
The Department of Economic Development (DED) in Dubai is heavily supportive of a diversified, innovative, service and knowledge-based economy. This is to help improve the business environment, increase productivity, and increase the number of foreign investors. The DED works throughout the year to develop economic plans and policies, support the right sectors, and provide administrative services to both international and domestic investors and businesses. In short, Dubai wants your business, and they are working hard each year to improve conditions on your behalf. It is little wonder how this beautiful city became what it is today in less than 40 years. Once you decide to move your company or part of your company to Dubai, use a company-establishing service to make the process simple.