Dubai: The obvious choice for expansion- by Taher Suterwalla
London, Dubai and Hong Kong, three destinations in the world that top the preference list for almost every business firm when it comes to expanding their operations. It has become sort of imperative for a company to have its offices in these cities if they aim for a world wide exposure. I was a part of this league. After a modest tryst with success in London as a real estate developer, diversification occupied much of my mind. And to realize this aspiration, Dubai was the obvious choice. What Dubai has made of itself in last 3 decades is nothing short of remarkable. The reason why Dubai still rules the charts when it comes to establishing a business can be attributed to various factors.
First and foremost, an impeccable strategic location. Dubai provides for a central location that draws world’s attention. It offers a perfect mix of time zone that includes east and west business hours. This allows Dubai to cater to a huge number of clients. The next important factor is Dubai’s economy. Dubai’s is the strongest economy out of all GCC (Gulf Cooperation Council) countries and also the most stable one. Since the recession of 2009, Dubai’s economy has bounced back tremendously and is on a skyward journey.
The next factor that makes Dubai a treasure chest is the tax policy. The best part about this policy is that there aren’t very many taxes. There isn’t any income tax and whatever tax is levied on imports and exports is barely of any value. Dubai has free trade and double taxation agreements with various nations. This makes Dubai an ideal country to conduct trade with. And now the most important factor that prompted me to invest in Dubai is the topography and demography of the region. Dubai has an indigenous population of 1, 70,000 and expatriate range in around 2 million. With a limited area of land and a need to cater to such population, Dubai has invested extensively on its real estate. In Dubai, upwards is the only way forwards.