Just the Beginning
Last month, Lionel Messi, possibly the most well-known football player in the world and winner of the 2015 FIFA Ballon d’Or, the prestigious trophy awarded to the world football player of the year, signed up to be the first global ambassador for the Expo 2020 Dubai South.
Since the first Great Fair of 1851, World Expos have continued to be one of the largest and most enduring global mega-events. Lasting six months, World Expos attract millions of visitors who explore and discover pavilions, exhibits and cultural events staged by hundreds of participants including nations, international organisations and businesses.
Expo 2020 Dubai will be staged in Dubai South at the southern end of the emirate and is expected to attract 25 million visitors, 70 per cent of whom will be from overseas. This will be the first Expo in which the majority of visitors stem from beyond a nation’s borders.
The ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum has never been one to shy away from ground breaking projects and this is one of his most ambitious to date.
Dubai South: City of the Future
Dubai South is being developed in stages that once completed will be an advanced city dedicated to ease of international commerce, sustainability and providing a place to live comfortably providing everything one could wish for from a home city including parks, state-of-the-art offices, leisure facilities as well as a futuristic transport system.
The advantages to businesses setting up in the new city are especially enticing, particularly for Small and Medium-sized Enterprises (SMEs) located anywhere in the world, which will be able to promote their businesses globally via an affiliation with Dubai South.
To facilitate business growth business owners can expect the following:
- 100% income tax exemption;
- 100% personal income tax exemption; and
- 100% import and export tax exemption.
- 100% foreign company ownership;
- no capital deposit required;
- no currency restrictions;
- 100% repatriation of capital profits; and
- liberal visa regulations.
The target is to make Dubai South a place where it is easier to do business than anywhere else in the world.
To put the scale into perspective, Dubai International Airport (DXB) is already one of the busiest airports in the world with 70.5 million passengers and 2.37 million tonnes of cargo being handled annually (2014 figures). The development of Dubai South along with the Al Maktoum International Airport will fly more than 220 million passengers and handle 16 million tons of cargo per year.