Business setup in Dubai has proven to be rewarding especially in terms of the ROI, upgraded facilities and technology, and access to multiple markets and platforms. But more than this, it is built on a strong foundation that focuses on the welfare of the whole organization, including investors, their employees, and their families.
With the global crisis in place, here are the list of benefits why company setup in Dubai is still the best option during uncertain times:
1. All-out government support and assistance. Businesses in Dubai get massive support from the government. Apart from the already in-placed system that facilitates and prioritizes health, wellness, and lifestyle benefits to all residents of the UAE, the government of UAE has been generous in cutting down up to 98% cost of available business packages to assist startups and SMEs.The Ministry of Economy has also launched in its website the Stimulating the Business Environment to Address COVID-19 Virus Effects page to assist investors on the appropriate measures, steps, and facts that will help them lessen the impact of COVID-19 to their businesses.
2. Targeted Economic Support Scheme. In the height of pandemic, the Central Bank of UAE has launched Targeted Economic Support Scheme or TESS to mitigate the repercussions of the pandemic and provide temporary relief from payments of principal, interests, and profits from loans.
3. Aid from financial institutions. Banks and financial institutions have been generous in addressing the payment of loans of startups, SMEs, and MSMEs. Most have devised new schemes to minimize the effect of the current health crisis to employers and their employees alike.Additionally, many startup incubators, accelerators, and funding authorities continuously offer funding support to startups with promising futures to help them recover from the economic effects of the pandemic.
4. Various support from the country’s network of professionals and organizations. Dubai has one of the most abundant number of consultants and experts who are willing to help UAE’s economic sector. Business coaches and organizations have volunteered to assist investors and employers seeking help to boost their businesses amidst the ongoing crisis.
5. Low-cost setup and business management. Dubai is known for its flexible and cost-effective business setup and how easily it can be managed especially for booming businesses and starting investors. Despite the pandemic, this has not changed. Dubai authorities have even given discounts and fees reduction in order to help them cope up with their company’s sudden losses. Aside from this, utilities, permits, customs fee, rental fees have also been reduced to aid continuous opening of offices nationwide.
Dubai and the rest of the UAE continuously welcome investors, professionals, and experts to set up their business in the country and enjoy maximum benefits such as low tax, access to international markets, flexible business setup, and prime location to any authorities available in the mainland or in the free zones.