Best ways to start or join a business in Dubai, America or Australia

By Varun Singh

The world is changing rapidly, and so are the opportunities and challenges for entrepreneurs and business owners. Whether we are looking to start a new venture or join an existing one, we need to consider various factors such as the ease of doing business, the market potential, the tax regime, the innovation ecosystem, the talent pool, the quality of life, and the advantages offered by Freezones in different countries.

Doing Business in Dubai

Dubai is one of the seven emirates that make up the United Arab Emirates (UAE), a wealthy and modern country in the Middle East. Dubai is known for its impressive skyline, luxurious lifestyle, diverse culture, and dynamic economy. Dubai offers a range of benefits for business travellers and entrepreneurs, especially within its various Freezones. Dubai has more than 40 Freezones that cater to different sectors and industries, such as ICT, media, finance, gold and jewellery, health care, AI and more.

Some of the ways that can help start or join a business in Dubai include:

Business Visitor Visa allows to enter Dubai for a short-term business trip, such as attending a meeting, conference, or trade show, conducting market research, or negotiating a contract

Investor Visa allows to enter Dubai to invest in an existing or new business in Dubai provided at least AED 10 million have been invested in one or more businesses in Dubai, either directly or through an investment fund

Entrepreneur Visa allows to enter Dubai to start or run an innovative business that has been endorsed by an approved agency

Doing Business in Ireland

Ireland is a small but prosperous island nation that is part of the European Union and the Eurozone. It has a reputation for being a hub of innovation, education, and culture, as well as a friendly and welcoming destination for visitors and investors.

Ireland has several free zones that offer tax incentives, customs exemptions and streamlined procedures for businesses. The main ones are Shannon Free Zone, which is the oldest and largest free zone in Ireland, and Dublin Airport Free Zone, which is a hub for aviation and logistics industries

Some of the ways that can help start or join a business in the Ireland include:

Business Visitor Visa allows to enter Ireland for a short-term business trip, such as attending a meeting, conference, or seminar, conducting market research, or negotiating a contract

Critical Skills Employment Permit allows to enter Ireland to work in a highly skilled occupation that is in demand in the Irish labour market

Start-up Entrepreneur Programme allows to enter Ireland to start or run an innovative business that has high potential for growth and job creation

Doing Business in United States

The United States remains one of the most attractive destinations for entrepreneurs and business owners, thanks to its large and diverse market, its strong innovation culture, its abundant capital and talent, and its favourable regulatory environment. The United States has over 250 foreign-trade zones (FTZs) that allow the duty-free entry, storage and processing of foreign goods. FTZs are located near ports, airports or border crossings and are supervised by the U.S. Customs and Border Protection.

Some of the ways that can help start or join a business in the US include:

Business Visitor Visa (B-1) allows one to enter the US for a short-term business trip, such as attending a conference, meeting with clients, or conducting market research

E-1/E-2 Treaty Trader/Investor Visa allows to enter the US to engage in trade or investment activities that are based on a treaty between the US and home country

L-1 Intracompany Transferee Visa allows to enter the US to work for a branch, subsidiary, or affiliate of an employer in the home country

Doing Business in United Kingdom

The United Kingdom is another popular destination for entrepreneurs and business owners, especially in sectors such as fintech, e-commerce, biotech, gaming, and creative industries. The UK boasts a large and sophisticated market, a vibrant innovation ecosystem, a favourable tax regime, and a strong legal system. The United Kingdom has announced plans to create up to 10 freeports in England, Wales, Scotland and Northern Ireland after leaving the European Union.

Some of the ways that can help start or join a business in the UK include:

Standard Visitor Visa allows to enter the UK for a short-term business trip, such as attending a meeting, conference, training course, or negotiating a contract

Innovator Visa allows to enter the UK to set up or run an innovative business that has been endorsed by an approved body

Global Talent Visa allows to enter the UK to work in a qualifying field of science, engineering, humanities, medicine, digital technology, arts and culture, or research and innovation

Doing Business in Australia

Australia is another attractive destination for entrepreneurs and business owners, especially in sectors such as edutech, healthtech, cleantech, and tourism. Australia offers a stable and prosperous market, a supportive and flexible regulatory environment, a rich and diverse natural resource base, a high-quality and accessible education system.

Australia has two special economic zones (SEZs) that provide tax concessions and other benefits for businesses. They are the Northern Territory Special Economic Zone, which covers the entire territory and aims to attract investment in tourism, agriculture, mining and energy sectors; and the Christmas Island Special Economic Zone.

Some of the ways that can help start or join a business in Australia include:

Short Term Visit Pass allows to enter Australia for a short-term business trip, such as attending a meeting, conference, or seminar, conducting market research, or negotiating a contract

Business Visitor Visa (Subclass 600) allows to enter Australia for a longer-term business trip, such as exploring business opportunities, making investments, or participating in professional development activities

Business Innovation and Investment Visa (Subclass 188) allows to enter Australia to start or run an innovative business that has been endorsed by an approved agency provided the demonstrated viable business idea should have access to at least A$200,000 in investment funds and score at least 65 points on the Business Innovation and Investment Visa points test

Doing Business in Canada

Canada is a large and diverse country that has a strong economy, a stable political system, a high quality of life, and a welcoming culture. Canada has 12 foreign trade zones (FTZs) that offer duty relief, tax exemptions and simplified customs procedures for businesses. FTZs are located near major ports, airports or border crossings and are administered by the Canada Border Services Agency. FTZs support trade diversification, innovation and growth in Canada.

Some of the ways that can help start or join a business in the Canada include:

Business Visitor Visa allows to enter Canada for a short-term business trip and can stay upto six months on this visa

Start-up Visa allows to enter Canada to start or run an innovative business that has been endorsed by an approved organisation provided a viable and original business idea should be demonstrated that have access to at least C$200,000 in investment funds

Intra-Company Transfer Work Permit allows to enter Canada to work for a branch, subsidiary, or affiliate of employer in home country provided the employer should have been employed by the same company for at least one year in the past three years

Doing Business in New Zealand

New Zealand is a small but prosperous island nation that has a reputation for being a leader in environmental sustainability, social welfare, and cultural diversity. New Zealand ranked first out of 190 economies in terms of ease of doing business, according to the World Bank’s Doing Business 2020 report.

Some of the ways that can help start or join a business in New Zealand include:

Business Visitor Visa allows to enter New Zealand for a short-term business trip and is valid for three months provided no payments can be received from a New Zealand source

Entrepreneur Work Visa allows to enter New Zealand to start or run a high-growth and innovative business that has been endorsed by an approved agency and the business plan should have access to at least NZ$100,000 in investment funds

Global Impact Work Visa allows to enter New Zealand to work in a social enterprise that has been endorsed by the Edmund Hillary Fellowship

Conclusion

Some of the best countries to start or join a business in 2024, especially within their respective Freezones, are based on the latest data and trends from various sources.

However, many other factors may influence one’s decision, such as personal preferences, business goals, target market, industry sector, budget, risk appetite, and growth potential. Therefore, it is advisable to conduct thorough research and seek professional advice before making any move.

One may want to consult with some of the leading immigration consultants that specialise in business immigration services if one is looking for expert guidance on starting or joining a business in any of these countries’ Freezones or elsewhere in the world.

One of these consultants is XIPHIAS Immigration; they can help with various aspects of the business immigration process, such as visa applications, business plans, market research, legal compliance, taxation, accounting, and more.

(Author is MD, XIPHIAS Immigration)