How the UAE Topped the Ease of Doing Business Rankingkwsmedeveloper
UAE the land that has defied all odds and transformed itself completely. From an economy centred on oil only to morph it into a diverse economy. Recently UAE managed yet another feat, i.e., It placed Eleventh in World Bank’s yearly Ranking for ” Ease of Doing Business.” What makes this news even more amazing is the fact that UAE skipped ten spots from last year to attain this rank.
Thus, making UAE as well as Dubai as the prime location for international investors and entrepreneurs to set up a business in Dubai posthaste.
What does this mean for small business owners? To answer such questions here is all you need to know:
What does” Ease of Doing Business” Exactly Means?
Ease of doing business is an index that directly measures regulations and laws affecting businesses. Higher rankings single digits like 1, 2,3- indicate better, relaxed, more straightforward rules for businesses and stricter protection of property rights.
What is “Ease of Doing Business” Ranking?
Ease of Doing Business is an annual Ranking that is published by the World Bank. The World Bank basically ranks the countries of the world according to the comfort they provide during the business setup process.
It should be noted that the Bank, while compiling their report, also consider that strive to make commercial growth of business possible by initiating projects. And by improving infrastructure to help in the steady expansion of the business in the region.
Since UAE Ranked 11th in the latest Ranking, it indicates that Dubai is a land that provides not only easy business setups but also offers world-class infrastructure to businesses enticing them to invest here.
How Did The UAE Top The List?
So how exactly did the UAE top the ” Ease of Doing Business” Ranking? The factors that turned it into World’s most desired destination for international investors and the reasons why should you invest in a business setup in Dubai are the same. They are:
Related Article: The Ultimate Guide on How to Start Your Own Business in Dubai
New , Quicker Business Licensing for Foreign Investors:
The main reason that many financial experts have pointed out regarding the boost in Dubai’s economy is: new kinds of business licenses. These licences are easy to obtain due to flexible regulations making it easier for foreign investors to enter the UAE market. The new laws have made business easy for international investors, particularly in Dubai Mainland
Since the introduction of instant licensing and a reduction in licensing fees, Dubai has seen a rise in foreign investors.
Approachable Real- Estate Market:
One of the commendable actions taken by the UAE government is initiating a project called ” Real Estate Investment Opportunity Initiative.”This action has not only made the country’s real-estate approachable to the customer by alleviating property laws but has also escalated the investment and business opportunities. The highlight of this project is that: it allows partial ownership of real-estate and easier access to rental properties.
Impeccable Infrastructure and Other Facilities:
Dubai boasts a world-class infrastructure equipped with state-of-the-art technology. Every new business set up in the UAE related to the commercial sector gets a power connection at minimal rates. Thus, making the UAE an attractive place for massive industries and corporations.
In addition to this, the UAE government in an unprecedented move have provided super-fast online services that have sped up the registration process of company formation.
Be it online registration portals or fast internet or impeccable transportation system – Dubai, and The UAE has got it all!
Favourable Taxation Policies and Laws:
Dubai and all of the seven emirates of the UAE have the lowest taxation rates in the World. These taxes are especially low for business setups to promote an increase in investment.
To assist the business-owners seeking legal help, the UAE has a separate tribunal system whose only job is to mitigate disputes erupting among the foreign business owners and investors. UAE’s judicial system is both flexible and versatile, thus maintaining a high standard.
These are the main reasons through which UAE landed its top spot in the Ease of Doing Business Ranking and became the World’s most sought-after destination for international investment. Everyone wants a piece of this cake.
So, if you want a piece of the proverbial cake, then stop waiting and set up a business in Dubai immediately. Talk to our highly qualified team of business set up consultants and make your Dubai dream into a reality.
Business Setup Consultants is the answer to all your problems.
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