Start Your Business Setup in Dubai
Are you an entrepreneur who wants to start a business in Dubai? Well, you are not the only one. Dubai is regarded as the most popular place for investment and starting a business. People from all over the world come to Dubai to set up their business. This year, there has been a 17% surge in the profit collected through the Dubai Free Zones. This demonstrates that the business setup in Dubai Free Zone is an excellent investment opportunity in the UAE.
What is the Free Zone?
A free zone is one of the three areas where you can set up your own business in the UAE. A free zone or a free trade zone is an area where the people doing business are exempted from the taxes. There are many benefits that a free zone company owner enjoys, 100% repatriation, tax exemption and 100% ownership in Dubai Mainland as an expat are a few benefits. You get a variety of options to choose from when selecting your business activity. However, as a free zone company owner, you are not allowed to trade outside your jurisdiction.
With the multiple benefits that a free zone offers, investing here is a win-win situation for every investor. A free zone is the right place for you if you are looking for a place to start. Growing well in the free zone is a step away from you if you choose the right business setup consultant for your business.
The Dubai Integrated Economic Zones Authority (DIEZ) stated that there has been a significant jump in the revenues from that of the same time in 2017. The change has been 42% in the first of the 2022 fiscal year.
The net market assets reached $4.83 billion.
An operational profit rise of 17% was observed
There was a 42% rise in revenues in the first half of 2022
There was a benefit due to integrating returns on investment
Mergal financial performance of the free zones was also beneficial
The DIEZ integration model was successful in boosting Dubai's economic development
There has been a rise in the country’s reputation as a hub for investment even for foreign investors.
A rise of 11% in rental income has been witnessed
The revenue generated from the free zones affiliated with DIEZ saw a rise by 16.6%
There is a rise of 49% in the issuance of commercial licenses as well as government services.
The trust instilled in DIEZ by businesses and investors in the system has been validated by the result shown in the year 2022. The DIEZ integration model has proved economically beneficial for the country as a whole.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ stated that the exceptional results delivered by DIEZ reflect Dubai’s vital position in the international business market. Not only this, it also reinforces its position as a global hub for FDI.
He also believes that the leadership’s direction and consistent guidance by the emirate is a strengthening pillar to the ambitious and strategic goals that were set in DIEZ a year ago.
The new framework enhanced the effectiveness and quality that was provided to businesses and investors not just the emirates but also to expats. These steps have helped in making free zones a significant contributor to the economy of not just Dubai but also the United Arab Emirates. The efforts made by DIEZ have borne fruits and helped the revenue from free zones.
Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said that the level of strategic integration achieved by the free zones under one umbrella is shown by the exceptional H1 2022 results. They have not only enhanced the global competitiveness of Dubai but also enhanced the attractiveness of its economic environment for investors and businesses worldwide.
Flexible and efficient innovative solutions have fulfilled Dubai’s objective,i.e, being the top choice for investors and becoming the trading hub worldwide. They have also strengthened the status of the emirate as a regional and international investment destination. People from all over the world come to Dubai to invest here.
The operational integration of the DIEZ economic zones, which also comprise its subsidiaries including the Dubai Airport Free Zone, Silicon Oasis, and Dubai CommerCity, led to an increase in revenues and an unheard-of growth rate.
The economic zones which are under the guidance of DIEZ adapt to investment needs by successfully following a realistic model.
The Emirates has seen a surge in profits from free zones. This is due to the many benefits that having a company in freezone offers. We at RadiantBiz have also noticed a 26% hike in clients preferring to set up in free zones. With efforts from the authorities, the emirate will climb higher as an investment and business hub throughout the world.
If you want to set up your own business in the Emirates, RadiantBiz is here for you. Our experts are always a call away from helping you set up your business in the UAE.With a variety of packages for business setup and other activities such as accounting and bookkeeping, opening a bank account and other services, we have something for each and everyone who needs help in helping their business step up.Book an appointment with us today and get started on your journey to a successful business.