Why moving to Dubai is a no brainer!
Why moving to Dubai is a no brainer!
Yes, I am in Dubai! After moving here for 1.5 years, I think it’s the right time for me to write an account of my experience. I can now personally vouch for the incredible opportunities and lifestyle this city has to offer.
Moving to Dubai, is it a Yes or No? It’s definitely a Yes for me!
Why Dubai? For both businesses and professionals
· Government Initiatives:
Dubai government shows commitment to innovation and economic growth. There are also various free zones in Dubai, such as Dubai Internet City and Dubai Media City allowing 100% foreign ownership and zero customs duties. Programs like the Dubai Future Foundation and the Dubai Industrial Strategy 2030 are designed to support businesses and entrepreneurs. Ranked 16th globally in the World Bank’s Doing Business Report 2020, the UAE is an ideal place for professionals and start-ups.
· Networking Opportunities:
Dubai has been a magnet of great companies and talents. The frequent industry events such as Seamless, GITEX Technology Week, IFX Expo, and the Dubai International Finance Conference, and you name it, fill up my calendar easily, enable me to expand my client base effortlessly. The vibrant expatriate communities (over 80% of the population are expatriates!) in Dubai also created various avenues to mingle with other business owners and talents in a less formal setting.
· Time Zone Advantage:
Dubai offers an unfair advantage for companies and professionals with an eye on the global market. Positioned at the crossroads of Europe, Asia, and Africa, Dubai operates within a time zone that overlaps with major financial centres. I can virtually meet with my clients in Asia in the morning, Europe in the afternoon, and the Americas in the evening.
· Thriving Job Market:
Supported by a business-friendly environment, Dubai’s job market is booming, especially in finance, technology, healthcare, and hospitality sectors. Over 200 multinational corporations have established their regional headquarters here. As a company based in Hong Kong, we have attracted numerous opportunities from businesses seeking to expand into Asia.
· Tax-friendly Environment:
Operating in Dubai offers significant tax advantages for both companies and individuals. Starting from 1 June 2023, corporate profits are only taxed on amounts exceeding AED 375,000, at a standard rate of 9%. What’s more, businesses operating in free zones may benefit from full tax exemptions. For individuals, Dubai stands out as a tax-free haven, with no personal income tax, allowing you to save a lot more when compared to other global cities.
· Same Money, Greater Value:
The tax-free environment generally gives greater value to the money you spend. While the rental level in a very central district in Dubai can be similar to Hong Kong, I can’t imagine being able to afford the size of the apartment I’m enjoying now in Dubai if I were still in Hong Kong.
Will Dubai Be Your Next Move?
Our expansion to Dubai was not without challenges, but through painful learning and experiences, we have now built our expertise and network in this vibrant city. If you think we can support your journey in Dubai, please don’t hesitate to get in touch! We’re here to help you succeed!
