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What can you say about a city like Dubai where ambition knows no limits? Where visions
become real? Where inventiveness is revered and business is nurtured like nowhere
else on earth?
Dubai is ranked third among the world's best managed cities. Strategically located
at the crossroads of trade and commerce between Europe and the Far East ; Dubai
is uniquely positioned as a cosmopolitan city with an excellent quality of life
and expanding business prospects and has a huge potential for future market growth
for many key industry sectors and for multinational companies wishing to establish
a presence in the region.
A modern, cosmopolitan city, Dubai today is home to an exciting blend of cultures
where people of more than 185 nationalities co-exist in a vibrant international
environment that has become an icon for 21st century living.
Dubai's success story as a world leader in enterprise and innovation has earned
the city international accolades and established Dubai as a leading commercial,
trading and tourism hub.
Dubai : Commercial and Trading Hub
Dubai today is recognized as a center for global trade and commerce. It was able
to achieve this enviable status by capitalizing on its strategic location, its natural
assets, a longstanding trading history and a visionary pro-business government.
Dubai's rapid advancement from a small trading post to a thriving city that is the
epitome of modernity and global commerce was spearheaded by the discovery of oil
and gas in the UAE. Soon thereafter, the government of Dubai began a program of
re-investment and diversification. As a result, the prosperity generated by oil
and gas precipitated further economic growth.
The trade, tourism, constructions and financial sectors are among the fastest growing
in the country.
The world's attention became focused on Dubai beginning with the construction of
the world's largest man-made port and now one of the most efficient and busiest
container terminals on the planet, Jebel Ali Port and Free Zone. Further construction
of the most modern airport in the hemisphere, the Dubai International Airport, doubled
its size once more and will be able to handle 70 million passengers and the expected
15 million annual visitors by 2010. Further projects are equally amazing and continue
to act as fuel for the expanding tourist trade in Dubai (Free Zone Dubai Internet
City, Dubailand, Burj Dubai, Dubai International Financial Center etc.).
Also Dubai offers business-operating conditions that are among the most liberal
and attractive in the region. Its policy is focused on encouraging foreign investors,
traders and businessmen to start or transfer their business location to Dubai. And
the most important initiative of Dubai policy is the establishment of various Free
Trade Zones.
Dubai Free Zone Incentives are:
- 100% foreign ownership
- A highly professional administrative assistant
- Tax free of all income earned and all profits for 50 years
- Exemption from all import customs duties
- Free repatriation of capital and profits
- Sophisticated infrastructure and minimum energy charges
- Non restriction of recruitment of workforce
- No currency restrictions
- Protection of intellectual property
- Fast registration and licensing.
- There are some free zones established in Dubai today: Jebel Ali Free Zone, Dubai
Airport Free Zone, Dubai
- Internet City (were mentioned above), also Dubai Media City, Knowledge Village,
Dubai Health Care City,
- Dubai Metals and Commodities Centre and others.
- Besides this, one of the important points of the government policy is the availability
of 100% freehold
- Ownership of some properties to all nationalities. It means that the owner of a
freehold title of real estate enjoys the most superior form of private property
ownership. A freeholder is considered to be the absolute owner of the land and buildings
comprised in his title; he has the right to occupy, use and enjoy his property forever
or until he transfers the title to a new owner, and his heirs are entitled to inherit
his title upon his death.
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