The largest oil exporter in the Middle East has teamed up with the second largest consumer of oil in the world (China) to build a gigantic new oil refinery and the mainstream media in the United States has barely even noticed it.
Khalid Al Boom Executive Director of Dubai FDI, said: “expanding partnerships with investment promotion bodies across public and private sectors have helped Dubai FDI to offer strategic leads and advice to investors.”
“Dubai has substantially increased its capabilities in enabling business growth and integrating global supply chains. For businesses looking for new opportunities Dubai offers the best infrastructure, a friendly environment and the most convenient access to strategic growth markets, especially those in the Middle East, North Africa and South Asia (MENASA),” said Al Boom.
Many people have developed successful, highly profitable businesses in Dubai. New operations are encouraged by the government and your local partner might be enthusiastically supportive. Export and manufacturing industries are especially strongly supported by government, particularly as regards the acquisition of land on which to construct a factory. If you set up such a business in a free trade zone, of which there are several in the region, it’s granted exemptions from import and export duties, commercial taxes, building and property license fees, land tax and restrictions on the transfer of capital invested in the zone.
Dubai has a fair judicial system, a liberal economy, no income tax or corporate tax, no trade barriers, quotas or foreign exchange controls, 100% repatriation of capital and profits and strong investor incentives from the government of Dubai.
An emirate of more than 200 nationalities and cultures, living and learning from each other and creating natural vibrancy and globalization, Dubai is also strategically located between the great continents of Europe, Asia and Africa and attracts approximately 5 million investors and tourists on an annual basis.
Dubai International Financial Center is the Gateway for Capital and Investment. Starting a Business in Dubai DIFC is 100% foreign ownership on all parts of the established business, 0% tax on profits, no restrictions on capital and foreign exchange repatriation and transparent and a highly developed operating environment. Compared to the majority of tax havens, which are offshore, the DFIC is onshore. In terms of the physical structure of the center, the DFIC has developed modern day offices and technology to attract the best companies as well as smaller financial startups.