Dubai is one of the fastest growing cities in the world. With a low tax environment, unbeatable lifestyle and consistently growing economy Dubai has developed into one of the world’s leading cities.
Dubai has emerged as one of the world’s leading international business centres and regional hubs. With state-of-the-art infrastructure and a world-class professional environment, Dubai has fast become the principal place to do business in the Middle East.
With a population of just over 2.7 million (March 2017) and growing at 5% per year Dubai continues to attract people from all over the world for both work & pleasure.
The United Arab Emirates averaged a 4.76 percent GDP growth rate from 2000 until 2015, with Dubai forecasting 3.1% economic growth in 2017 the economic outlook is positive.
Dubai’s freehold law allows investors from any country to purchase real estate with a clear and transparent ownership title deed issued for each property. The real estate ownership and rental processes are regulated by law and protect both investors and tenants.
With no income, property or corporate taxes Dubai is a very low tax environment. The tax environment continues to attract investors, high net worth individuals, business owners and corporations wishing to take advantage of the financial benefits of operating in a low tax juristriction.
Dubai enjoys a world-class infrastructure with well-maintained roads and excellent public transport and connectivity, including the state-of-the-art Dubai Metro. Dubai is home to Emirates the world’s leading long haul airline offering connectivity to 150 destinations in over 80 countries.
Dubai Key Facts For Investors
Since 1833 the reigning Al Maktoum family have ruled Dubai. Under their progressive leadership Dubai has prospered into a business and tourism hub.
In January 2006, His Highness Sheikh Mohammed bin Rashid Al Maktoum became the Ruler of Dubai following the death of Sheikh Maktoum bin Rashid Al Maktoum. Under his leadership Dubai has become one of the major cities in the world. His Highness Sheikh Mohammed is also the Vice-President and Prime Minister of the UAE.
The United Arab Emirates is a constitutional federation of seven emirates: Abu Dhabi, Dubai, Sharjah, Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah.
The Dubai economy enjoys open and liberal economic policies that create an ideal and attractive investment climate for local and expatriate businesses alike.
Dubai has successfully diversified its economy away from an oil dependent economy to a service-based economy.
Government economic policy is driven by the Department of Economic Development, a government body entrusted to set and drive the economic agenda of the emirate of Dubai. The department of economic development supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.
Dubai is a very low tax jurisdiction with no direct income, corporate or property taxes.
Residents in Dubai pay no income, capital gains or inheritance taxes. With no property taxes applied to residential real estate in Dubai, rental income and capital gains on real estate transactions are free of any form of taxation.
Dubai does not operate any kind of taxation system that requires residents to file financial records or tax returns.
There are no corporate taxes for companies operating in Dubai with the exception of companies operating in the oil and gas industry and branches of foreign banks operating in Dubai.
The World Expo 2020 in Dubai will be the first to be held in the MENA & SA (Middle East and North Africa & South Asia) region.
The staging of the world fair and the preparations leading up to it are expected to result in 277,000 new jobs in the UAE, an injection of nearly $40 billion into the economy, and an increase in visitors of at least 25 million and up to 100 million.
The main site of Expo Dubai 2020 will be a 438-hectare area (1083 acres) located at Dubai South close to the Al Maktoum international airport.
Expo Dubai 2020 will be the first in history to have the largest percentage of international visitors. 70% of all visitors are expected to come from outside the UAE.
Global Aviation Hub
Dubai is home to Emirates Airline one of the world's leading airlines.
Emirates operates over 3,600 passenger flights per week from Dubai International Airport to more than 154 cities in 81 countries. Emirates operates across six continents with a 95,000 strong multi-national team comprised of over 160 nationalities.
Dubai International Airport is the primary airport serving Dubai and is the world's busiest airport by international passenger traffic. Over 83 million passengers passed through Dubai international in 2016.
Dubai's second airport, Al Maktoum International opened its doors to passengers in October 2013. The airport is still under development, upon completion Al Maktoum International will become the world’s largest airport with an ultimate capacity exceeding 220 million passengers and 16 million tonnes of cargo per annum.
With one of the lowest crime rates of any major city in the world, Dubai residents and visitors enjoy a moderately crime free society.
The government actively promotes the safety and security of Dubai, as it is a major tourist destination and economic centre for the region.
Strict and efficient law enforcement promotes a high level of general safety in Dubai. Petty crimes like theft and violent criminal acts are very rare.
Strict border controls enable the Dubai government to control the people entering and residing inside the country. Border and airport entry requirements including visa provisions and biometric scanning avoids undesirable individuals entering the country.
World Class Infrastructure
Dubai is emerging as one of the most modern cities in the world, equipped with modern infrastructure. The government has invested heavily to build a technologically advanced and convenient network of public transportation facilities.
Public transport infrastructure includes the Dubai Metro rail network. This driverless, fully automated metro rail network carries over 5 million passengers per day to 49 stations throughout Dubai.
Other public transport facilities include buses, taxis, and marine taxi's. The city offers easy and affordable travel to visitors and residents alike.
An efficient network of roads and highways along with an advanced traffic system makes driving the most popular means of transport in Dubai
Other Important Reasons Why Include:
- The Country is a global trade hub with one of the largest airports in the world
- The Country's state of the art infrastructure
- The Country's strategic geographical position
- The Country is well regulated with a good “ease of business”
- The investment and purchase processes are uncomplicated and offer protection to the investor
- The rent activity is regulated by law and by a governing body
- The rental income and capital gain is tax free