Crossroad cities have always been a nexus for wealth. Venice, Istanbul, London.
These are cities that have profited handsomely from being a node in larger trade and financial networks. The combination of geographic centrality and stable governance structures transformed them into hubs for business and capital allocation.
Dubai is now poised to join the list of financial superpowers. The emirate is fast becoming an undeniably solid choice as a metropolis to do business and hold assets. Wealth management is in Dubai’s DNA.
Growth is at the heart of profits. Dubai is a city deeply committed to growth. It supports and nurtures it. It infuses the business community.
Entrepreneurial Energy Drives Growth
Startups and new business ventures create wealth. And Dubai makes that effortless. The World Bank ranked Dubai 16th out of 290 countries in terms of ease of doing business. It can take as little as two working days to set up a business here. This can be done easily online/
No income tax and minimal corporate tax means profits are driven back into infrastructure, human capital, and growth. Businesses from around the globe are flocking to Dubai to take advantage of tax structures that allow them to stay mission-focused.
Centre of The World
Dubai stands at the crossroads between the West and the East. Asia and Europe. While it is isolated from the instabilities of much of the world, you are only an eight-hour flight away from two-thirds of the world’s population.
A short flight gives you access to clients, factories, and distributors around the globe. Managing far-flung corporate entities is made simpler by envious geography and an internet infrastructure that makes remote management frictionless.
From Oil to Start-ups
In 1975 60% of the GDP in Dubai was oil. Today that number stands at only 1%. Dubai is clearly committed to diversifying its economy.
In that vein, the government has launched multiple small and medium enterprise development (SME) incubators to bring fresh talent and invigorate the business community.
These incubators are welcoming millennial talent by offering marketing consulting, support services, relocation assistance, and fast-tracking visas.
Dubai can boast of one of the world’s best rapid transit rail systems, world-class public transportation, and a housing and office infrastructure to rival any Western city. All at prices that are shockingly low compared to their European and American rivals.
For instance, commercial office space in Dubai averages $22/sq foot. Compare that to $84/sq foot and $100/sq foot in London. Dubai offers an unmatched bargain for high-end real estate.
Remote Visas Bring In Skilled Workers
Dubai’s low-barrier visa system makes it astonishingly easy for corporations to import the world’s best talent.
You will find companies bringing in world-class talent from Eastern Europe, the U.S, Brazil, Serbia, and Germany with a bit of a fee and little hassle. Businesses are finding it valuable to choose from the globe’s talent pool rather than be limited to their home country.
And, because of Dubai’s low tax structure and attractive lifestyle options, workers are eager to pack up and move to the emirate.
This well-trained and motivated young workforce means there is a pool of labour for everything from graphic design to marketing to data analysis to communications. Additionally, proximity to India draws service and manual labour talent.
Businesses get started faster here. Buildings go up faster here. Everything happens at a quicker pace because the workforce is here and ready to make it happen.
Stability Is A Prerequisite For Growth
It is difficult to grow an economy in an unstable environment. Wealth prefers stability. Predictability. And Dubai has that in spades.
The crime rate is one of the lowest in the world for a large city and easily one of the safest spots in the Middle East.
A stable political system that is known for smooth transfers of power and a lack of religious extremism adds to the sense of order.
Also, a well-funded judicial system keeps all parties safe in financial transactions.
In short, Dubai has created the physical and societal infrastructure to facilitate business dealings.
Lifestyle Draws Business Leaders
Stunning architecture. Year-round sunshine. White sand beaches. World-class cuisine.
These are just a few of the magnets that draw in some of the world’s best business minds. The cosmopolitan atmosphere brings them to conferences, mergers and acquisitions dealings, and working vacations.
Dubai – The Obvious Choice For Wealth Management
Dubai is managing to do what most cities can not. It is growing into a metropolis that is thoroughly modern and progressive in its stance toward economic growth and international dealings while holding onto a conservative, safe, and dependable place to do business.
Dubai is straddling the old world and the new. In doing so, it is becoming an undeniably top choice to create and hold assets in the 21st century.
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