Dubai is one of the cities of the future and has grown in just 30 years from the inception of the United Arab Emirates in 1971 when it was a small trading centre, to the leading commercial city in the Middle East. Over the last 10 years, Dubai has expanded amazingly into trading, manufacturing and tourism, which now dominate the country's economy. It has propelled forward with enterprising free trade zones and regional business parks like Dubai Media city, Dubai Internet City and Dubai International Finance Centre, making it the regional hub of the Middle East, one of the richest regions in the World.

Much of the success of Dubai's remarkable economic development can be attributed to a progressive and enlightened Government with a clear vision and strategy for the country's economy. It is also a Government which has a remarkable track record in executing large, complex and ambitious projects.The highly attractive range of incentives which the Government has put in place for inward investors includes:

-Zero tax on profits and income

-100 per cent repatriation of capital and profits

-100 per cent ownership in free zones

-No foreign exchange or trade barriers

 -A stable and freely convertible currency pegged to the US dollar

 -A low common external tariff of 4 per cent (with commodities such as food items, pharmaceutical products and raw materials exempt)

-Fast track, 'one stop shop' company formation in the free zones

-An increasing number of businessman are moving their personal and business bases to Dubai, as it is tax friendly not only for individuals but also for corporate. It has good communications being sited midway between Europe and Asia and offers a number of free trade zones within which overseas corporate can base their businesses.

 -The UAE has 10 per cent of the global oil reserves and the fifth largest reserves of natural gas in the world with a 20 year track record of economic growth

- Dubai has the world's largest shopping mall

-Finally, most of the capital for this fantastic expansion has come from within the Middle East and Dubai intends to establish itself as the leading capital market for the region. The Dubai International Finance Centre is now taking shape, with a city of skyscrapers twice the size of London's Canary Wharf. Over the next five years it will employ 30,000 investment professionals and 60,000 staff in leisure and support services. It already has the world's investment banks knocking on its door.

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