Nobody was surprised when Dubai’s economic bubble burst just as the global crisis hit full force. The real estate and construction sectors, which had been among Dubai’s key economic contributors for many years, found themselves in a precarious position. Businesses failed, and expats left before conditions got unbearable.
However, this was in 2008 and early 2009. What is the current business climate in Dubai? Are investors still seeking for a bright spot like Meydan free zone in this dark cloud? Can the surviving entrepreneurs pull it off? What would you do if you had a company in Dubai?
Let us explore facts before we start setting up business in Meydan free zone
- Dubai is remains the world’s largest commerce port, uniting the East and West.
While several businesses collapsed, Dubai’s commerce industry never wavered in its strength. Trading was the same during the early months of 2008 and mid-2009 as it had been during the boom years. Many investors from Japan, Kuwait, India, Singapore, Germany, and Spain applied for new trading licences in Dubai. Have they suffered as a result of the recession? Apparently not, given the trade sector’s contribution in 2009 greatly surpassed forecasts.
- Professional practises in Dubai continue to thrive.
Doctors, attorneys, business consultants, and IT service providers in Dubai are still making decent money and living well. Some professions, such as marketing consultants, have suffered as a result of people’s inability to pay high advertising expenditures, but the overall picture is highly good.
- Dubai offshore firms are in great demand.
Dubai Meydan free zone business forms have surged since the new Swiss restrictions went into effect earlier this year. This is due mostly to the tax-free status and the 100% repatriation policy upon corporate demise. Meydan free zone enterprises in Dubai are largely established in Jebel Ali Free Zone and Ras Al Khaimah (RAK) Free Zone, but with new free zones like Dubai Silicon Oasis, Jumeira Lake Towers, and Dubai Investment Park emerging, the sky is the limit for investors seeking for the best offer.
Given the incredibly favourable prognosis presented by the preceding arguments, it’s clear to see how Dubai is rising just in time. The government has modified the laws and procedures to allow investors to stay in Dubai for as long as they require. With the new Dubai Metro public transportation system in place and the low crime rate remaining, Dubai has re-entered the ranks of global economic titans. So, here’s a suggestion for all you eager capitalists out there: create a company in Dubai. You will not be sorry.
The UAE (United Arab Emirates) is one of the world’s most strong economies today. This nation is divided into seven emirates or principalities: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. With its easy access to the European and Asian markets, the UAE’s unique geographical location puts it in a good position for business. As a result, it has outstanding international business policies, making it a preferred site for developing company abroad.