1 minute read
DUBAI COMPANY INCORPORATION
Dubai City, one of the economic giants in the Middle East, provides numerous commercial prospects to foreign investors. Dubai Company incorporation being one of them. As a result, these foreign companies established a variety of operations in Dubai. It has increased the possibilities for ongoing trade and economic growth in the region. Despite having a large oil industry, Dubai has diversified its economy so that less than 1% of its GDP is currently derived from the oil industry.
In the first half of the fiscal year 2023, the Dubai Authority awarded over 46,000+ company permits due to the city’s rapid economic expansion and diversification.
Advertisement
This number demonstrates a quarterly increase in company registrations in Dubai and is noticeably higher than the issued licenses from the previous year. The following factors can be used to explain the expansion of businesses in the economy:
Favorable corporate policies for business.
Liberal corporate taxation regimes.
Advanced infrastructure of the city.
However, you can conclude that Dubai is the Mecca for beginning new enterprises based on the criteria. As a result, establishing a business in Dubai can be advantageous for entrepreneurs and business owners, particularly foreign people.
