The past 10 years have witnessed incredible growth throughout all sectors of the Dubai economy. The emirate’s government is constantly working to improve its commercial transparency and introduce dynamic regulations that aid the formation of small and medium enterprises (SMEs) and have the ability to react to global financial challenges.

Dubai’s economy is no longer reliant on oil, but is more diversified, relying heavily on trade, services and finance sectors.

With its central geographic location between Asian and European markets, Dubai has worked hard to establish itself as an integral part of the global trade mechanism. Its central location has also allowed Dubai to become a popular and accessible tourist destination.

The Department of Economic Development has been exceptionally forward-thinking, and is moving towards a more streamlined electronic services system in which most aspects of the business set up process is conducted through the internet.

Dubai’s many free zones are another aspect of the city’s growing economy. Established as a way of attracting more foreign investment, free zones adhere to unique laws regarding ownership, taxation and labour. Unlike businesses in the rest of Dubai, which require at least 51% ownership by a UAE national, free zone businesses can have 100% foreign ownership. Legally, companies based in free zones are considered “offshore” so they are unable to trade within the city without an agent or distributor. Free zones also tend to assist new businesses in the set up process.

Department of Economic Development – DED
2009 Economic Outlook – Dubai Chamber
Free Zones in the UAE  – UAE Interact
SMEs in Dubai – DED
Ease of Doing Business in Dubai – Dubai Chamber
Doing Business in Dubai – Department of Tourism and Commerce Marketing
Market Studies – Dubai Chamber
UAE Reports – UAE Ministry of Economy
Official Statistics – Statistics Center of Dubai