Dubai, a city renowned for its iconic skyline and vibrant culture, has emerged as a global business hub. Its mainland, in particular, stands out as a beacon for global entrepreneurs, offering unrestricted access to the vast UAE market and a broader operational canvas. With the potential for expansive growth and increased visa provisions, the mainland is ideally suited for businesses aiming for a larger footprint.
Dubai’s strategic location, at the crossroads of Europe, Asia, and Africa, makes it a central hub for international trade and business activities, facilitating easy access to markets in these continents. Its world-class infrastructure, including modern transportation, communication, and utilities, enhances the efficiency of business operations.
The city’s government has implemented numerous initiatives and policies that encourage entrepreneurship. These include the establishment of free zones, which offer 100% foreign ownership, zero customs duty, and minimal bureaucratic red tape. These zones have attracted businesses worldwide, including technology firms, logistics companies, and financial services providers.
The Economic Substance Regulations (ESR) is in line with UAE’s commitment to international tax cooperation and transparency. The regulations require UAE’s onshore and free zone companies and other business forms that carry out any of the ‘Relevant Activities’ listed in the regulations’ framework to maintain an adequate ‘economic presence’ in the UAE relative to the activities they undertake. This ‘Economic Substance Test’ ensures that businesses are not driven solely to benefit from a low or non-tax jurisdiction, thus preventing the harmful tax practice of profit shifting from high-tax jurisdiction to low tax regimes.
In terms of trade, India’s exports to the UAE reached US$31.3 billion in FY 2022-23, marking an increase of 11.8% YoY. The main products that India exported to the UAE are Refined Petroleum ($7.98B), Jewellery ($3.19B), and Diamonds ($2.51B). In 2021, bilateral trade between the two countries stood at $43.3 billion.
In conclusion, Dubai’s dynamic economy, strategic location, favourable tax regime, and investor-friendly policies make it a lucrative investment haven for global entrepreneurs. As they look to expand their horizons and tap into new markets, Dubai offers a promising and profitable venture.
Dubai’s strategic location, at the crossroads of Europe, Asia, and Africa, makes it a central hub for international trade and business activities, facilitating easy access to markets in these continents. Its world-class infrastructure, including modern transportation, communication, and utilities, enhances the efficiency of business operations.
The city’s government has implemented numerous initiatives and policies that encourage entrepreneurship. These include the establishment of free zones, which offer 100% foreign ownership, zero customs duty, and minimal bureaucratic red tape. These zones have attracted businesses worldwide, including technology firms, logistics companies, and financial services providers.
The Economic Substance Regulations (ESR) is in line with UAE’s commitment to international tax cooperation and transparency. The regulations require UAE’s onshore and free zone companies and other business forms that carry out any of the ‘Relevant Activities’ listed in the regulations’ framework to maintain an adequate ‘economic presence’ in the UAE relative to the activities they undertake. This ‘Economic Substance Test’ ensures that businesses are not driven solely to benefit from a low or non-tax jurisdiction, thus preventing the harmful tax practice of profit shifting from high-tax jurisdiction to low tax regimes.
In terms of trade, India’s exports to the UAE reached US$31.3 billion in FY 2022-23, marking an increase of 11.8% YoY. The main products that India exported to the UAE are Refined Petroleum ($7.98B), Jewellery ($3.19B), and Diamonds ($2.51B). In 2021, bilateral trade between the two countries stood at $43.3 billion.
In conclusion, Dubai’s dynamic economy, strategic location, favourable tax regime, and investor-friendly policies make it a lucrative investment haven for global entrepreneurs. As they look to expand their horizons and tap into new markets, Dubai offers a promising and profitable venture.