The following comment to an article, in AB, on the reduction of seven of the many fees businesses are charged in Dubai, left me wondering who the spin doctors think they are kidding.
We’re a small company which was waiting for this cuts to invest in Dubai. We’ll now invest thanks to this cuts which will provide us more cash for our day-to-day operations. I hope that investor deposit fees may decrease as well. So, these actions are signs that the economic post crisis in UAE is starting.
Sounds good so how much more cash would Habib now have for his day to day operations?
Well there are a number of different ways of creating a business in Dubai. Which is most suitable will depend upon the business to be carried out but lets assume he wants a commercial licence this appears to start at AED 15,000, US$ 4,087
Therefore with a 20% saving our budding entrepreneur will have US$ 817 towards funding his day to day operations. So what could you do with US$ 2.38 a day in Dubai. Well it won’t buy a cold beer or even a cup of coffee. and it definatley won’t go far towards the office rent and costs of visas.
We hope Habib responds and we can all find out how saving under a thousand dollars would be the make or break decision for investing in Dubai.