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International Business - Dubai

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Submitted By mirazin
Words 5549
Pages 23
INTRODUCTION
Dubai is one of the seven emirates of UAE. The emirate consists of a city of the same name. The city is the largest in terms of population among the rest of the cities of UAE and is the second largest city in terms of area after Abu Dhabi. The history of Dubai dates back to the era even before than the formation of United Arab Emirates. It was only a desert back then in which only tribal Bedouins living in the area could survive. Gradually the population began to rise and thus the desert gained the shape of a city that is one of the largest cities in the world of modern times. Previously Dubai's economy was dependent on oil trading business only. Then steps were taken by the government of Dubai to diversify the economy of Dubai. One of these steps was making Dubai an industrial and commercial hub in the region.
For this purpose, many different free zones were established all over the city. These free zones played quite an important role in the diversification of the economy of Dubai and in the creation of a business hub in the city. The companies that were operating in these zones were given special allowances and benefits that helped in flourishing their trades all across the city. Dubai freezone company enjoys benefits such as better infrastructure, a wide range of facilities (warehouses, offices), relief from corporate tax, and zero import duties. One of the most important benefits that were available to the companies operating in the zone was that these companies could be 100% owned by foreign investors. There is a rule in Dubai for a company that the majority of the shares of the company are to be held by the local residents of Dubai. Since the free zone companies are excluded from this restriction therefore this has helped a lot in attracting foreign businesses to operate from these zones in the city.

Why Choose Dubai As An Investment

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