Dubai is one of the largest cities in the Middle East, offering a multitude of business opportunities to allow foreign investors to set up different kinds of businesses. This city has expanded its opportunities to ensure that there is constant development of trade and business in the area. Apart from this, Dubai has diversified its economy in such a manner that oil production comprises less than 1% of its entire economy.
Dubai has accelerated the pace of its diversification and sustainable economic growth. The city issued 45,653 new business licenses in the first half of 2022, which is significantly higher than the licenses issued in the previous year (2021), i.e. 36,647, which shows a 25 % growth in the Forex trading company registration. The main reason for the growth is the business-friendly government policies and programmes, tax regimes, and infrastructure, to name a few.
From the above discussion, it is evident that Dubai is an excellent place to start a business, and registering a company in this city can be quite beneficial for business owners, especially foreign investors.
Benefits of Forex trading company registration in Dubai
Following are the benefits of Forex trading company registration in Dubai:
The government of Dubai has rapidly adopted technology for starting a business in Dubai. The Forex trading company registration process is very easy and completed in a few days. There is less paperwork, and the steps are easy to follow.
Certain amendments have been introduced in the Commercial Companies Law of UAE in 2021, allowing foreign investors to have 100% ownership of their businesses in UAE. This allows more than half of the total economic activities in Dubai, where foreign investors have been allowed to hold 100% foreign ownership.
The investors have the option to set up their companies in the Mainland area and Free Zones. Dubai provides more than 30 Free Zones for entrepreneurs and investors to choose from. Setting up a business in Free Zone allows the investor to enjoy 100% ownership of the company. It also allows 100% repatriation of profits earned and the capital invested. It further gives an opportunity to the investor to collaborate with the other players in the same industry.
One of the major benefits of Forex trading company registration in Dubai is that the company does not need to pay taxes. There are no corporate or personal taxes applicable in Dubai. Though, a few companies are liable to pay GCC VAT at a mere 5% on certain business activities.
Dubai has a strategic and advantageous location as it sits on the crossroads connecting north, south, east and west. It is one of the biggest re-export hub in the world. It has one of the most active and busiest airports and seaports in the world, with one of the most efficient logistics infrastructures. It also boasts as one of the greatest tourist hubs in the world.
Dubai is one of the most developed cities in Central Asia, possessing one of the world's best infrastructure. Its infrastructure is ever-evolving and offers excellent public transportation, telecommunication, terminals, etc. Dubai also hosted Dubai Expo 2020, where significant advancements have been made in Dubai's overall infrastructure.
Regulatory Authority/ Body for Forex trading company registration in Dubai
The main regulatory authority for company formation in Dubai is the Registrar of Companies. It is the authority where the new applications for Forex trading company registrations are filed. It is the place where the companies have to file their compliances and registrations.
Eligible Business Structures under Forex trading company registration in Dubai