Amir Khwaja Director of Evergreen Businessmen Services in Georgia explains why Georgian SME’s need to expand their activities at Dubai’s tax free market.
Browsing through my news paper and sipping coffee this morning, just like anybody else, living in an amazing, cosmopolitan city like Dubai, I took a glance at the big city through my window, started wondering why Dubai is famous? – For being outrageously out there breaking world records right, left and center, and becoming a global choice for SMEs. Seeing around all the huge skyscrapers, residential and commercial buildings, while some others were still under construction, constantly forging ahead, making it an iconic tourist destination, creating new benchmarks for the world, and an international hub for trade. Let me sum up together the reason why I prefer to work and live in Dubai than anywhere else in the world.
For more then 150 years world expo had fostered Innovations, Education, and international connections, proving again and again for a bigger and brighter future to the world.
In the year 2020 the businessmen and international visitors from all over the world are coming to Dubai to create history at World Expo 2020. Dubai is located at cross roads of Asia, Middle East and Africa, have a centralized time zone. One third of the global population is with in 4 hours of flying time and two third are within 8 hours.
The new airport Dubai World central has an ambitious plan to accommodate 200 million people far bigger then the current busiest airport Atlanta 94 million Beijing 83 millions and London 72 millions. This project is expected to complete by close to year 2020, phase one is already in operational. Upon its completion it will be a new beacon for the future of travel world.
Dubai not only opens gates for prosperity, hope, optimization and opportunities, but also happiness and social security for business and family. Becoming one of the most ambitious city in the world it discloses some past facts and figures, which will help you to understand its best practices.
GDP is expected to maintain a solid 5% growth rate, where as keeping inflation tamed at 2.74%
Dubai’s economic is not only depended on Oil but its well diversified across 6 major sectors, (1) Whole and retail trade (2) Transportation (3) Real Estate (4) Manufacturing (5) Financial Services and (6) Construction
- Total trade (2013) = $ 357.6 bn
- Imports (2013) = $ 217.1 bn
- Total. Exports (2013) = $ 140.5 bn
Close to $42 billions will be spend in next coming years by government and private sectors, to make World Expo 2020 the most successful even. It’s the best opportunity for any business especially Small and Median Enterprises to display its products and services and be a part of such global event.
“Connected thinking is the best hope for successful and peaceful existence in the generations to come.” H H Sheikh Mohammed bin Rashid Al Maktoum.
Free Zones: There are 21 different Free Zones in Dubai, distributed between 10 categories:Industrial, Aviation, logistics, Education, Media, Commodities, IT, Humanitarian, Financial and other
Beneficiates of Free Zone
100% foreign ownership
100% repatriation of capital and profits
No corporate tax for 50 years
No personal income tax
No currency restrictions
No custom duty
Streamlined and quick company set-up
Today you have an opportunity to be part of the next chapter of global growth story, which will be remembered by the world for centuries.
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