Do You Want to Set Up a Business in Dubai?
It can significantly impact your future whether you decide to stay in the UK or move to Dubai. The tax-free income and dynamic economy of Dubai attract many to consider this bold move. Taking action now could be the best decision you've ever made regarding starting a business in Dubai.
Zyla Accountants help entrepreneurs, business owners, start-ups, and others relocate their business to Dubai and realise their dreams. Zyla Accountants is perfectly positioned to support your requirements. We have offices in Dubai and will be the ideal accounting partner.
There are often times in life when we have to choose between taking decisive action or patiently waiting for our circumstances to improve? In a changing world, this decision becomes especially important for people concerned about their financial and personal wellbeing. This has led to many in the UK considering a move to Dubai. But is it worth taking the risk? In establishing a business in Dubai, there are many factors to consider.
Toufic Sara from Zyla Accountants attending a recent British Chamber of Commerce Dubai event
UAE vs. UK - The Economic Landscape
A robust economy, a rich culture, and a high standard of living make the UK a global financial hub. Economic challenges have arisen in recent years, however. Brexit uncertainties, fluctuating property markets, and high taxes are causing some to seek more stable and lucrative opportunities abroad.
In contrast, Dubai has positioned itself as a thriving metropolis with significant economic advantages. A booming real estate market, tax-free income, and a rapidly growing financial sector distinguish Dubai from the UK's economic climate. Located in the heart of a global business hub, the city is strategically located between East and West. This has made setting up a business in Dubai increasingly attractive.
Living Standards
A major factor influencing this decision is the quality of life. Healthcare, education, and cultural heritage are renowned in the UK. Drawbacks include the high cost of living, unpredictable weather, and increasing living expenses.
It offers a luxurious lifestyle, world-class healthcare, and a vibrant expatriate community. There are many seeking a change in climate, culinary scene, and standard of living in the city that makes it appealing to many. Nevertheless, it is essential to consider the many cultural differences and adjust accordingly. A Dubai company can significantly enhance your personal and professional life when you take advantage of these lifestyle benefits.
Preserving and growing wealth
Wealth preservation and growth are two compelling reasons to consider moving to Dubai. Due to the UAE's low VAT rates and no income tax, disposable income and savings can be increased significantly. Dubai's free zones offer entrepreneurs and investors 100% ownership, zero corporate taxes, and full profits repatriation.
The UK's tax regime is one of the toughest in the world, with high income tax rates, capital gains tax, and inheritance tax. As a result, Dubai's tax-friendly environment makes it a very attractive place for establishing a business over the long run.
Your Decision: Now or Never?
There are a number of factors that determine whether a person should move to Dubai or stay in the UK. An established system, stability, and cultural familiarity might make staying in the UK the right choice for you. If you are driven by the desire to maximise your wealth, live a luxurious lifestyle, and take advantage of a dynamic economic environment, setting up a business in Dubai is the right decision for you.
Achieving Results
The decision to make a move needs to be approached strategically by those inclined to do so. Research setting up a business in Dubai thoroughly, visit Dubai to get a firsthand view, and consult with financial advisors to fully understand the implications. Moving to a new country is a big step, but with careful planning, it can be a positive and fulfilling experience. A Dubai company can be successfully set up with meticulous preparation, but the rewards can be substantial.
If you’re ready to get started, begin your Dubai journey today
Is it time for you to take charge of your future and unlock unparalleled opportunities? Create a better life by setting up a business in Dubai. Whether you want to grow your wealth or achieve your professional goals, Dubai is the perfect place for you. Its tax-free income, thriving economy, and luxurious lifestyle make it the perfect place for you to do so. Take charge of your future today!
Contact Zyla Accountants for support with all areas of your business move, from company formation to securing a bank account, we’re with you every step of the way.
Find out more here.