The Top Places to Start a Business in the Middle East
Constant in the Middle East's sometimes volatile business environment are endless competition between fast-growing cities that are eager to be crowned the region's commercial capitals. In the past, Beirut and Bahrain's likes have claimed the title, but it replaces by a new generation of modern cities filled with gleaming steel and glass towers, large armies of migrants, and world-class airports.
The top places to start a Business in the Middle East are as follows:
There are a number of startup centers around the world that regularly offer great and innovative products and services to consumers, even if they are halfway there.
Dubai has been leading this race for the last few years. Based on a recent survey of global business centers, it seems inevitable that this is the most attractive business centers in dubai in the Middle East.
Dubai's position at the forefront of Business in the Middle East will not surprise anyone who has visited the region. Its position as the best networking hub in the Arabian Gulf makes it easy to reach from anywhere. Its countless towering skyscrapers and business zones offer regional and international companies comfortable homes at low taxes.
Doha, the peninsula and Qatar's state's capital, is another excellent option when choosing a business location in the Middle East and North Africa (MENA). Qatar currently has the third-largest GDP per capita globally, with 1.8 million people in 2013, 1.3 million live in Doha. Qatar's best trading partners are Asian countries (Japan, South Korea, and India), making Doha the right place for companies targeting Asian markets.
To start a Qatar business, you have to go through a lengthy registration process with the Ministry of Trade and Economic. Knowledge of Arabic or a business partner who speaks Arabic is essential. As part of the registration process, a law must be submitted, written, and written in Arabic before it can be adopted.
As in the United Arab Emirates, foreigners are not allowed to control interest in Qatar's companies. Therefore, you also need to look for business partners who are citizens and own at least 51% of your company.
The capital of the United Arab Emirates, Abu Dhabi, has slipped from one place to 26th place. It will disappoint the authorities there as they have put a lot of money and effort into Abu Dhabi Global Markets' financial hubs over the past few years to make it a credible rival.
At present, Abu Dhabi is increasingly by its other closest rivals. Qatar's capital, Doha, has climbed 13 spots from 47 the previous year to 34 in this year's ranking. Despite the efforts of four countries - Bahrain, Egypt, United Arab Emirates, and Saudi Arabia - to isolate Qatar both diplomatically and economically. It is another sign that their actions appear futile.
The country of Egypt, home to one of the oldest civilizations in human history, has undergone drastic changes. Revolution and social movements have toppled the regime and caused great upheaval and discontent across the country. The recent election of Abdel Fattah al-Sisi making him president and inflaming tensions a little in the capital.
Cairo is today the largest city in Egypt, Africa, and the entire Arab world, and its cultural significance is immeasurable for both past and present civilizations.
It is also the economic center of present-day Egypt. Cairo is one of the best places to do Business in the Middle East because of its economic importance and cultural prestige, among other specific reasons.
Amman is an important tourist center, especially for the Gulf citizens, and one of the most visited cities in the world. Several multinational companies are developing in Amman and operating on a regional basis there. It is the perfect place for anyone looking to do Business in the Middle East, especially the Levant.
Another essential contributor to Amman's economy is heavy industry, which benefits from professional investors. Like Egypt, goods made in the zones are not subject to tariffs and quotas imposed due to the US-Israel trade agreement. Jordan also has de facto trade agreements with the United States and several other countries that can benefit.
Bahrain is another country that has fallen even further, dropping a total of eight spots to 59th place, while the Saudi capital, Riyadh, has dropped one spot to 69th. The Saudi government has struggled for years to convince companies to move to a built-up financial center. On the outskirts of the city, King Abdullah's financial district, where cynics speculate that the tower may have more than tenants.
Start-up founders can benefit from deep networks and a high-tech workforce in a highly developed ecosystem like Tel Aviv or a well-funded and promising ecosystem like Riyadh. Half of the top 10 cities in the region are Israeli (4 of the top 5), while the UAE is the second most represented country.
Patrick is a zealous writer and With his passion to read and write about business setup consultants, business setup in UAE, business setup services in UAE, company formation and pro services and its implementation in our modern world. His inquisitiveness towards learning about how business has evolved in emirates is commendable. With such curiosity embedded in himself, he researches extensively before writing a blog to deliver a credible and detailed content piece.