The worldwide business sector identifies Dubai as one of its leading sites for operations. The business-friendly atmosphere alongside modern infrastructure and economic expansion has caused Dubai to attract an increasing number of entrepreneurs for business setup.
But what does the future hold for mainland company formation in Dubai? Let’s explore the key trends and insights, backed by data and expert opinions.
1. Easier Business Setup Process
Dubai has been working on making the business setup process faster and more efficient.
According to the World Bank’s Ease of Doing Business report, the UAE ranks 16th globally in ease of doing business, with significant improvements in business registration procedures.
In the future, we can expect fewer paperwork requirements, quicker approvals, and more online services to help entrepreneurs start their companies with ease.
2. More Foreign Ownership Opportunities
Earlier, businesses needed a local partner to set up a mainland company. However, as per the UAE’s updated Commercial Companies Law, over 1,000 activities now allow 100% foreign ownership.
This move has attracted a surge in foreign investments, with the UAE recording a 44% increase in foreign direct investment (FDI) in 2021, reaching $20.7 billion (Source: UAE Ministry of Economy).
This makes mainland company formation in Dubai more attractive to international investors.
3. Growing Digital and Tech-Based Businesses
Dubai is investing heavily in technology and innovation. The UAE government aims to boost its digital economy to contribute 20% to GDP by 2031, according to the UAE Digital Economy Strategy.
Future businesses in artificial intelligence, fintech, and e-commerce will find great support through initiatives such as the Dubai Future Foundation and Dubai Internet City, which offer business-friendly ecosystems.
4. Stronger Government Support
The UAE government continues to introduce business-friendly policies. Recent data from the UAE Federal Competitiveness and Statistics Authority shows that Dubai’s GDP grew by 3.8% in 2022, driven by a strong non-oil sector.
Reduced corporate taxes, long-term visas for investors, and simplified business regulations are expected to encourage more entrepreneurs to choose business setup in Dubai.
Moreover, the introduction of the 9% corporate tax from June 2023, which is still one of the lowest globally, ensures that Dubai remains a competitive business hub.
5. Sustainability and Green Business Initiatives
Dubai is focusing on sustainability and eco-friendly business practices.
As part of the UAE’s Net Zero 2050 strategy, Dubai aims to reduce carbon emissions by 30% by 2030 and transition to cleaner energy solutions.
Businesses adopting green technologies and sustainable practices will receive more support and incentives, making sustainability-focused startups a key trend in mainland company formation in Dubai.
6. Rising Demand for Skilled Workforce
With the increasing presence of international businesses, there is a growing demand for a skilled workforce. Dubai has launched multiple residency programs, such as the Golden Visa and Green Visa, allowing skilled professionals, entrepreneurs, and investors to reside in the UAE for the long term.
The UAE has also introduced the Unemployment Insurance Scheme, which makes the region more attractive for talent and ensures workforce stability.
Conclusion
The future of mainland company formation in Dubai looks very promising. With easier processes, more ownership opportunities, strong government support, a rising digital economy, and an emphasis on sustainability, now is a great time to start your business in Dubai.
The city’s pro-business policies, economic stability, and strategic location make it an ideal hub for global entrepreneurs. Whether you are a new entrepreneur or an experienced investor, Dubai offers endless possibilities for success.
If you’re looking to establish your business in Dubai with ease, Quick Plus can help. From paperwork and approvals to expert guidance, we ensure a smooth setup process.
Visit Quick Plus today to get started!