Dubai’s Booming Economy – What it Means for Dubai Company Formations

Dubai’s Booming Economy – What it Means for Dubai Company Formations

July, 2017

The Business Registration and Licensing (BRL) unit at Dubai Economy has issued 10,455 commercial licenses during the first half of 2017.  This means the BRL has been issuing 1,743 licenses on average per month, according to a report by Khaleej Times.

These record breaking business licensing figures prove the strong focus on Dubai by investors and the strong competitiveness of the emirate.

The strengthening of Dubai’s economy always leads to a considerable increase of investors who choose Dubai as the ideal jurisdiction for setting up companies.

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These figures are proof of Dubai’s success in cementing its position as a highly attractive global and regional business hub that offers significant financial benefits to global investors.

Dubai has been able to offset the impact of key challenges such as major currency fluctuations and slower worldwide economic growth.

Dubai has Proven its Popularity with Investors – Click Here to Start Your Dubai Company Formation

Why Dubai Company Formation?

Offering superb business opportunities, Dubai attracts investors from all corners of the world. Dubai offers a tax-free business environment as well as a high quality lifestyle and safety.

The key advantages of setting up a company in Dubai are highlighted below:

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Focus Business Services (FBS) Kotsomitis is one of the leading company formation and corporate services providers in the UAE.  The FBS Group is an international Group with Head Offices in Dubai and offices in Ras Al Khaimah, Cyprus, Malta, Greece and the Seychelles.

Our UAE team provides assistance to investors and entrepreneurs setting up businesses in Dubai, RAK or anywhere in the UAE.

Contact One of Our Professionals for Your Dubai Company Formation

Let us handle the whole process of setting up your company quickly, easily and efficiently.

We can handle your Dubai Company Formation, Business License, opening of corporate and personal bank accounts, visa processing and all government related services.

After your company is set up, our team of professionals are here to assist you with operating your company by providing services such as:

• VAT
• Visa
• Banking
• Accounting
• Bookkeeping
• Tax
• A host of other services

 There are only 5 simple steps involved in setting up your own Dubai Company Formation – Click Here for more details of the 5 Steps for Your Dubai Company Formation

Click Here to Read about Dubai Company Formation – Essential Information and Facts

Businesses are Thriving in Dubai – Do You Want to be Part of Dubai’s Success?

Non-Oil Revenues

The emirate of Dubai has witnessed astonishing growth during the past 10 years in all its sectors.  Being part of the UAE, Dubai’s economy was traditionally heavily affected by the price of oil.  Nowadays, as a result of robust government strategies and sheer hard work there is a shift from reliance on oil to the boosting of non-oil revenues from services, trade, construction, tourism and finance sectors.

Predictions for the growth of Dubai’s economy in 2017, according to the Economic Development Committee of Dubai are 3.1%.

Dubai’s Free Zones

Dubai’s free zones are another reason for its healthy economy.  A free zone is a designated area where standard trade practices and regulations such as tariffs or trade barriers are exempted or reduced.  Free zones are established for the purpose of encouraging more foreign investment.  They adhere to unique laws covering ownership, labour and taxation. It is easy to set up companies in the free zones as there are fast and simple setup processes and one-stop Government services.

Companies in free zones are permitted 100% foreign ownership, unlike companies in non-free zones, that require at least 51% ownership by a UAE national and the remaining 49% ownership by the foreign owner.

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Strategic Geographical Location

Dubai’s strategic location between Asia and Europe has helped it become a key part of global trade as well as an extremely popular and easily accessible destination for tourists.

SME’s – Dubai’s Backbone

SME’s account for 95% of the total number of companies in Dubai.  The government is aiming to boost the contribution of SME’s to 45% of GDP by 2021 by providing assistance to 40,000 startups which will add AED 65 billion or so to Dubai’s economy….Nice…

Dubai’s government is constantly striving to improve its commercial transparency by introducing dynamic regulations that aid the success of small and medium enterprises.  The encouragement of diversification and the removing of barriers for investors in all sectors have contributed to the growth of Dubai’s economy.

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 Expo 2020

 Expo 2020 will be the first global Expo to take place in the Middle East.  Dubai expects to open its doors to an audience of around 25 million over a 6 month period.

 43% of contracts awarded for Expo 2020 Dubai so far were awarded to SME’s.

SME’s and startups are getting ready for spectacular profitability in the next few years.

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 More Interesting Dubai Business Licensing Facts and Figures

BRL at Dubai Economy renewed 71,831 licenses in the first half of this year, which means an average of 11,972 renewals per month. The number of reserved trade names for the first half of 2017 was 19,676.

These results are proof of the sustainable growth of Dubai companies as well as the competitiveness of the emirate’s business sector.

New commercial licenses that were issued during the first half of this year were in the following categories:

• 73% trade licenses
• 4% professional licenses
• 9% industrial licenses
• 7% tourism licenses

These reflect Dubai’s status as one of the world’s top retail destinations.

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