The number of British companies in Dubai keeps rising. According to Dubai Multi Commodities Centre (DMCC), 𝟮,𝟮𝟱𝟴 British companies now operate from its business district. That is 𝟳.𝟳% more than 12 months ago. Furthermore, the figure arrives just months after the UK and the Gulf Cooperation Council (GCC) concluded free trade agreement negotiations.
𝗔 𝗴𝗿𝗼𝘄𝗶𝗻𝗴 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗼𝗳 𝗕𝗿𝗶𝘁𝗶𝘀𝗵 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗶𝗻 𝗗𝘂𝗯𝗮𝗶
British businesses account for approximately 𝟴.𝟱% of DMCC’s more than 26,000 member companies. As a result, the UK is one of its largest international markets. In addition, the mix is broad. More than 𝟱𝟮𝟬 British professional services companies are registered there, alongside more than 200 technology businesses and more than 200 energy companies.
Notably, the community also includes finance, wealth management, media, commodities, shipping and logistics firms. Dubai therefore attracts UK companies well beyond a single sector.
𝗪𝗵𝘆 𝘁𝗵𝗲 𝗨𝗞-𝗚𝗖𝗖 𝗮𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀
In May, the UK and the GCC concluded negotiations on a free trade agreement. This made the UK the first G7 country to agree a trade deal with the bloc. DMCC says the agreement could be a further catalyst for investment and business flows once it comes into force.
Meanwhile, UK-UAE trade already exceeds £𝟮𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻. Consequently, companies that set up in Dubai before the agreement takes effect may be better placed to use it.
𝗔 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺 𝘁𝗵𝗮𝘁 𝗴𝗼𝗲𝘀 𝗯𝗲𝘆𝗼𝗻𝗱 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝗶𝗲𝘀
DMCC announced the figures at the close of its Made For Trade Live roadshow in London. It was its second visit to the UK capital this year. Its wider technology ecosystem now hosts more than 𝟰,𝟬𝟬𝟬 companies across artificial intelligence, cybersecurity, crypto and gaming. It also includes commodities, financial services and private wealth communities.
𝗪𝗵𝗮𝘁 𝘁𝗵𝗶𝘀 𝗺𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝗳𝗼𝗿𝗲𝗶𝗴𝗻 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀
Taken together, the data confirm that Dubai’s free zones remain a practical gateway for international companies. However, a free zone licence is only the first decision. Activity scope, tax position and substance requirements still need careful planning. This matters most for groups that also operate in other jurisdictions.
𝗛𝗼𝘄 𝗞𝗲𝗹𝗺𝗲𝗿 𝗚𝗿𝗼𝘂𝗽 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽
Kelmer Group supports international companies setting up and operating in Dubai with company formation, licensing and tax and compliance advisory. We help you choose the right structure and stay compliant from day one.
Contact our Dubai team at kelmer.com/dubai/
Source: DMCC — DMCC Records 7.7% Growth in British Companies as London Roadshow Spotlights Opportunities in Tech, Capital and Services, https://dmcc.ae/latest-news/dmcc-records-7.7-growth-in-british-companies-as-london-roadshow-spotlights-opportunities-in-tech-capital-and-services