Archive | March, 2014

Dubai-the Business Center of Middle East

27 Mar

Dubai the second largest UAE Emirate is recognized as business, travel and tourism hub of Middle East. Boosted up from small fishing and trading community, strategic efforts have enabled this city to build its image as trade center on international levels. According to Master Card World Wide Annual Global Destination Cities Index, Dubai ranked on ninth position among top ten for year 2011, eight for 2012 and seventh position for 2013. This clearly shows that the emirate has been continuously improving its position. The city has shown unmatched progress in short period of time. Today, the city is globally known as alluring destination for travel and business.

 

Due to multicultural environment of this city, the corporate environment is also unique. The metropolis city display rich combination of Emirati heritage, Arabic life, Western sincerity and ambition of Asian people. The cosmopolitan environment is attracting expats across the world to settle down to work and invest in the city. The tax-free lifestyle and penalty free currency conversion of earnings facilitate foreign entrepreneurs and investors while establishing their business in Dubai. Being located on the crossroads of Asia, Europe and Africa, the Emirate executes the role of perfect gateway between East and West. The unique centralized time zone efficiently combines the East and West business hours while its geographical location made it easily accessible destination. It is well connected with all major countries and cities across the world.

 

Legal frame work and Company Law

With aim to facilitate businessmen in every possible way, State Government has been working to improve investment laws, regulatory laws and incentive policies. Implementation of freehold ownership law for land and stocks is the major effort in this scenario. UAE Federal Cabinet has also implemented a new company law to reduce the time frame of establishing a company. The new legislation allows foreigners to hold 49% ownership in the firm they are investing. Later implementation of other FDI laws further facilitated foreign investors to make investments in the city. Separate resolution is available for different business types.

 

Easy Financing

In contrast to local industrialists, foreign entrepreneurs can easily obtain bank loans from UAE banks with variety of financial products and other services. Besides this, the low cost of taking loans also allure foreign companies willing to expand their operations in Middle East. Emirate welcomes small and medium enterprises. A governmental agency, SME which is operated under the Dubai Department of Economic Development (DED) has developed several financial and non financial programs to support small entrepreneurs to obtain bank loans.

 


Governmental efforts to foster Investments

State Government is taking every possible step to diversify city economy in to knowledge-based economy to perk up business environment to increase productivity. DED and associated agencies are making policies and plans after analyzing and identifying important trade sectors. Their major aim is to attract new foreign investments while proffering aftercare support to facilitate existing investors. Their aim is to improve the overall investment scene and enterprise sector in the city. Dubai FDI is the leading agency of DED which guides new investors throughout the whole process of investment. The guide line includes suitable advices about location, legal frame work structure suitable for specific business type. The agency also helps established companies to expand their setup further.

 

Free zones and zero corporate taxes make Dubai an open trading hub

 

Free zones in Dubai, zero corporate and capital taxes have made this city a heaven for foreign investors. It’s enchanting to own an office with complete ownership rights in the hub city like Dubai. Zero income taxes for companies located in mainland and free zone is a big incentive for entrepreneurs. Only 10 percent of annual property rental value tax is paid by all business properties as municipal tax. Further, the duty free exchange of goods with average tariff of just 4 percent made this city and open trading hub. The foreign labour policy also allows private sectors to hire expat workers across the world at competitive wages.

 

Strategic efforts and implementation of new laws have played great role to promote city image as regional business center. Depending on your company type, you can choose mainland or free zone to setup your organization.

Dubai to become a lucrative global Event destination with E-licensing and ticketing

19 Mar

Offering state of the art amenities and well constructed exhibition sites, Dubai has not only been recognized as the regional event hub of MENASA, rather it going to be listed itself in the list of top international event destination. Having considered the importance of events and exhibition to foster emirate economy, travel and tourism, Vice President of UAE, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, and Prime Minister and Ruler of Dubai have issued a Decree No.25 of 2013. The Decree is about integrating complete e-licensing and ticketing system for all events in the city. Being nominated for World Leading Destination in World Travel Awards, 2013 and winning bid to host Expo 2020 have doubled the allure of Dubai as lucrative event destination among event organizers. Considering the eagerness of event organizers, State Government has worked with emirate leading bodies like DTCM and its partners Convention and Events Bureau, Dubai Calendar, and Dubai Festivals and Retail Establishment (formerly known as Dubai Events and Promotions Establishment) to foster event and festivals in the city.

Primary of new Decree No.25

The primary aim behind these efforts is to support and develop, event sector and enable it to contribute at maximum levels to progress tourism and economical conditions in the city. Department of Tourism and Commerce Marketing discussed the complete strategy at Host Cities Conference. The new strategy defined that only combined efforts of Government and Private sector will enable to achieve target of becoming global event destination. For practical implementation of online licensing and ticketing system, DTCM will be playing leading role in developing detail procedure of application, processing and licensing for participants willing to take part in an event. A centralized platform will also be included to sell and distribute tickets for all Dubai events.

DTCM work plan

In order to create a smooth online licensing system, DTCM will review current legislation, rule and procedures of licensing and ticketing of events in the city to efficiently formulate the online licensing system. DTCM will coordinate with all concerned government entities and utilize all findings to establish a perfect system. The system will not only benefit event organizers rather it also facilitate responsible government entities to issue permits and licenses more efficiently saving time and reducing errors. The system will have its complete and comprehensive database of all events held in Dubai. The centralized ticketing system will allow summing up event related issues like ticketing, collection of ticketing fee and ticket distribution on single platform. Furthermore, complete information about the event venue and existing ticketing outlets. Support services are also provided for consumer applying to obtain tickets. In addition to serving event participants and visitors, hotels tour operators, travel agents, air lines and other ticket collectors are allowed to subscribe online ticketing system. Such subscribers could play great role to market events while serving as distribution channel for event organizers.

The fully integrated event licensing and ticketing system will simplify the whole process of staging events in Dubai from promotion to selling. With aim to position this emirate as world leading tourism destination and commercial hub, DTCM is planning, supervising and developing strategies to progress tourism and event sector in the city. Their major aim is to increase the awareness of international audience about Dubai as global hub for events, travel and tourism. This will attract more serious investors towards Middle East across the world.

Dubai world’s best holiday rental destination for year 2014

13 Mar

After evaluating booking enquiries and booking trends of holiday rentals, Dubai has won the top position among holiday destinations. Experts believed that extensive and rapidly expanding network of Dubai Emirates airline has made Dubai travel easier and cheaper. Being the regional hub for business, trade and travel, Dubai has been receiving foreign entrepreneurs and travelers across the world. Developers have constructed commercial and residential developments to execute business and accommodation needs of travelers. Besides this, the city also proffers entertainment and leisure opportunities to entertain visitors.

Millions of visitors visit Dubai every year for different reasons. Although, the emirate is world renowned for its luxury hotels and resorts that are even expensive sometimes. City possesses several affordable accommodation options for visitors. Irrespective to their luxury standards, these short stays are known as holiday rentals in Dubai that can be rented on different rents. You can find suitable living space according to your budget. Common holiday rentals in Dubai are hotels, resorts, villas, Dubai apartments including serviced, studios and hotel apartments. These short term rentals are ideal for everyone living and visiting Dubai for few days to few weeks or months. Travelers can rent anyone of them after considering what will best execute their needs.

Entertainment and attractions

In addition to accommodation, other things making Dubai best holiday rental hotspot are year round sunshine, warm winters, clear blue waters, golden sand dunes and white sandy beaches. However, the city has boosted its infrastructure and commercial and residential real estate projects; you can find nature and wild life sanctuary in the city. Adventure seekers and holiday makers not only enjoy visiting purposefully constructed leisure and entertainment spots in the city rather they can also enjoy outdoor adventure trips under the sky on Arabian desert and seas.

The city welcomes everyone, even those who don’t have huge holiday budget. There are number of things to do for free. A simple road trip and walk on Dubai Marina and kite surfing on the beach and visit to traditional souks are few activities budget travelers can enjoy du ring the trip without spending a lot. Even you can also find free accommodation via couchsurfing community in Dubai. Moreover, studios, hotel apartments and villas are few budget accommodation options available for travelers among range of Dubai properties for rent.

Choosing any of them holiday rentals proffer many advantages for reenters. Like low cost accommodation without compromising on quality and life style amenities. Further, occupant will enjoy more privacy and space as compared expensive hotels and resorts.