Middle East’s Economic Zones
Setting Up A Business In Middle East’s Economic Zones
Process Of Company Registration In Dubai
The economic zones in Dubai have been recognized as the ideal locations for doing business. These zones play a crucial role in shaping the character and future of the city and its economy. They are designed and built to bring together the various aspects of the business community in one place. They have the potential to attract and retain not only local entrepreneurs and business people but international businesses, too. They allow easy access to Dubai’s stock exchange, massive capital market, legal system, international airport, and employment possibilities.
However, although these economic zones offer excellent business prospects, it is essential to note that some significant drawbacks also come with them. Despite the massive growth in Dubai’s tourism industry, the quality of the city’s education system and healthcare sector needs to catch up to the rest of the world. Security issues and a lack of standard of living contribute significantly to these setbacks. But then again, these negatives are balanced out by the tremendous opportunities if you are willing to take the proper steps and work for them.
The Dubai Free Trade Zone provides many benefits to businesses wishing to enter this global market. This is the second-largest emirate in the world and has a highly developed tourist, business, and labor sector. It also has the fastest-growing per capita income in the Middle East. Although many regions in the world still require a lot of development, the sheer size of the Dubai economy is already a big attraction for most potential investors.
Those who wish to invest in the commercial property market should go directly to the free zones. There, they will benefit from reduced business administration fees and other related charges and added tax benefits. In addition, the legal system here is robust and well-developed. These two factors make it a desirable proposition for investors to get involved in the real estate market of the United Arab Emirates (UAE). The UAE authorities are constantly trying to promote the commercial real estate market’s growth and license management to provide maximum opportunities for businesses.
The UAE has a lot of natural environments that offer a lot of opportunities to investors. They include the Arabian Desert, the Persian Gulf’s rocky coasts, the dunes in the southwestern corner, the majestic Persian Gulf beaches, and the coral reefs of the Indian Ocean. All of these areas offer an excellent environment for the commercial development and expansion of businesses. Many new and upcoming business establishments are set up in the economic zones. Some of the well-known zones in the world include the Dubai World Trade Centre, the Dubai Marina, and the Dubai Festival City.
The economic zones have come into their own as far as attracting tourists is concerned. People from all over the world travel to the UAE to experience its alluring culture and tradition. The tourism industry is expected to grow alarmingly in the coming years. Whether it is commercial or residential development or both, the economies of the economic zones are set to benefit greatly.