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The post-Covid economy

SPC Free Zone foresees an improved business climate, growth in commercial opportunities, and a surge in consumer spending during and after the upcoming Expo 2020. This is anticipated due to the change in business dynamics as a result of the COVID-19 pandemic, which has created an influx in people wanting to open their own businesses for increased financial security, amongst many other factors. Expo 2020 is right around the corner and will provide a substantial boost to the UAE’s economy, which is vital for new businesses to kickstart.

Expo 2020 is said to be the largest event to take place in the UAE to date, aiming to attract 25 million visitors from around the world. It is based around the themes of ‘Opportunity, Mobility, and Sustainability’. The event will offer a lucrative platform for new start-ups and SMEs to pitch their products and services to high profile investors and clients through conferences, forums, and partnerships with selected pavilions. New businesses can join the Expo 2020 supplier network and register for tender opportunities on their official website through a simple process.

The Expo will also lay out cutting-edge infrastructure. Post event, the site will be turned into ‘District 2020’ in which state-of-the-art space can be utilised by new businesses for their operations. These readily available resources will enable entry and expansion of key industry players into the region.

What does Expo 2020 mean for new businesses?

With borders opening and incentives on offer for Expo visitors, such as specialised visas, fast-track immigration lanes, and duty/tax exemptions, the UAE will witness a large influx of tourists and investors during the next few months. During this important time, new businesses can benefit from vast exposure to potential customers from different corners of the globe. This is a prime opportunity for entrepreneurs as they can attract and secure both local and international customers and investors. Dynamic and emerging new markets can be penetrated, demand can be foreseen, and the geographic reach of new businesses can be significantly widened, leading to rapid expansion.

The economic impact of Expo 2020 will last long after the 6-month event is over. Local officials have estimated that the event will contribute $33.4 billion to the country’s GDP. In this upcoming, favourable economic climate, we anticipate the sectors with the highest potential growth will be; E-commerce, IT solutions and technology, marketing and advertising, tourism and hospitality, print and packaging, and many more. To minimise risks and to align demand with supply, business setup in one of these sectors will comparatively be the wiser choice.

When and how can you set up a new business?

There is no better time than now to set up your own business, especially with a free-zone entity which will allow benefits such as:

• 100% foreign ownership

• 100% repatriation of capital and profits

• Zero tax conditions

This translates into simplicity – there is no requirement for a local partner for your new business, as well as no applicable import or duty fees. The business is yours, and so are the profits.

New company formation in the UAE is a straightforward procedure when you are in the right hands. SPC Free Zone is an expert in the field and offers new business setup with benefits including:

• Ability to have a dual license (free zone and mainland)

• License issued in one day

• Up to 10 years trade license duration option

• Over 1,500 business license activities

• Combine 5 activities from different sectors under one license

• Flexibility on number of visas

• Strategic location, easily accessible from two airports

• Immigration services on site at SPC Free Zone

Being the world’s first publishing free zone, SPC Free Zone offers a mix of convenient infrastructure facilities such as coworking, retail, storage, and commercial offices, along with a business-friendly regulatory environment. Embark on your entrepreneurial journey in this highly profitable season with SPC Free Zone and enjoy competitive packages, flexibility, and convenience.

Get in touch with the Unlimited Choices, Affordable Prices free zone at +971 800-SPCFZ (77239) or marketing@spcfz.ae for further information on services and offers.

Visit www.spcfz.ae for additional details.