Why Set Up Your Business in Dubai? Benefits and How cryptojobs.com Helps
- cryptojobs.com
- August 21, 2024
- All Posts, featured
- 0 Comments
When setting up your business, the choice of location can be one of the most important factors. Dubai stands out as a popular location for setting up a new business across several major sectors and industries. The key factors including the government’s business-friendly initiatives, tax exemption and reduction policies, and an overall conducive business ecosystem make Dubai a heaven for innovative and progressive companies.
Dubai has been successfully attracting the biggest global investors for many decades and has become the gateway to connect the East and West. The future outlook for businesses operating in the finance and technology sectors looks even brighter, thanks to a wealth of opportunities, government support, and growth-friendly initiatives in Dubai. Companies actively looking to expand in Dubai can benefit from the company set up services offered by cryptojobs.com’s local third-party partner.
Top Benefits of Setting Up Your Business in Dubai
Conducive Business Environment
Dubai is becoming a hub for businesses looking to expand their clientele across the globe. The favorable business environment is a major reason behind this trend. A sophisticated transport network, advanced ICT infrastructure, and consistent government funding for innovation and technology are the major reasons why the world is looking towards Dubai as the ultimate business hub. The Dubai International Financial Center (DIFC) boasts the largest regional FinTech ecosystem offering unparalleled mentorship and essential tools to foster business growth.
Ease of Access to Global Markets
Setting up your business in Dubai means ease of access to global markets as Dubai is strategically located at the crossroads of Asia, Europe, and Africa. The city offers unrivaled access to global markets, allowing seamless expansion of rapidly growing businesses. Dubai’s diverse consumer market also allows businesses to interact with a wide range of audiences, thus allowing them to adapt to the diversified needs of a potential global customer base.
Attractive Tax Policies
Tax-related laws for businesses in Dubai are among the friendliest not only in the region but worldwide. Dubai government has launched several tax-friendly policies including a 9% corporate tax rate, which is significantly lower than the regional average. On the other hand, the Dubai Free Zone is one of the major attractions for global investors as it offers a 100% exemption from corporate taxes for a fixed period and zero import or export duties.
How Has Dubai Gradually Become a Hub for Crypto Business?
Government Support
Dubai has gradually become the premier destination for blockchain and cryptocurrency companies, largely due to government support. Several major companies in this industry have been able to successfully establish themselves in Dubai, thanks to the Virtual Asset Service Provider (VASP) license offered by the Virtual Asset Regulatory Authority (VARA).
Companies like Bybit, OKX, and Binance are successfully operating from Dubai and several other small and medium-sized enterprises have also set up their blockchain businesses in the cosmopolitan city.
A Rapidly Evolving Blockchain Ecosystem
The UAE government has announced exciting plans to grow the blockchain sector in the country and has already launched several initiatives aimed at offering the ease of doing business to blockchain and crypto companies. Subsequently, the number of active companies in the crypto space has increased by 13.3% by the end of the first quarter of 2024. In addition, the UAE’s blockchain ecosystem now supports more than 10,600 professionals and this figure is growing at a rapid rate. The focus of the UAE government is to grow the blockchain industry exponentially in the next five years.
Crypto Business Support in Dubai Free Zones
Dubai Free Zones offer dedicated support to businesses operating in the blockchain and crypto sectors. The specific licenses in these zones have been designed to accommodate the unique requirements of businesses operating in these sectors. For example, the cryptocurrency licenses offered in the Dubai Multi Commodities Center (DMCC) and the Dubai World Trade Center (DWTC) cover a wide range of activities from blockchain consultancy to setting up a crypto exchange. This incredible flexibility in license issuance allows businesses to expand their operations in Dubai effortlessly.
What You Need to Do to Set Up Your Business in Dubai
Are you considering setting up your business in Dubai and not sure where to start? cryptojobs.com has made your life easy with its Company Set Up Service in Dubai, facilitated through the company’s local third-party partner. Our highly reputed partner agency offers a wide range of services for setting up a successful business in the city. These services include but are not limited to the following:
- Business set up
- Financial advisory
- Bank account opening
- Tax advisory related to VAT & CT Advisory
- Golden Visa
Embarking on a journey to set up your business in Dubai is filled with several incredible opportunities for innovation, growth, and ease of access to the global markets. The strategic geographic location, government support, and tax exemptions are some of the major factors why Dubai is becoming the first-choice location for several new and well-known companies.
If you are looking to set up your business in Dubai, click here and fill in the required information to get started.
