Investing in Isle of Man vs. Dubai as a Nigerian entrepreneur
If you’re wondering which is better to
invest your money in, the Isle of Man or Dubai, then you’ve come to the right place. In this article, you’re going to discover the various benefits of investing in the Isle of Man and Dubai. Yes, both places are good for investment and they have their various benefits, but at the end of this comparative article, you’ll see that only one is best for your business needs and the protection of your investment.
As you know, the Nigerian market is bad at the moment, and you need to protect your hard-earned money. That’s why we’re bringing you this educational article to inform you of the safest choice to put your money on.
Benefits of Investing in the Isle of Man 1. Responsive Government: Because of their independence, new ideas and legislation can be implemented quickly, reducing bureaucracy.The Isle of Man can provide a one-of-a-kind partnership between the public and private sectors. In a small country with little bureaucracy, the private and public sectors collaborate closely to make positive changes quickly and efficiently.
They see things differently because the Isle of Man Government is made up of individuals rather than parties and is guided by a mandate of cooperation rather than confrontation. Their people are independent thinkers who try hard to work together.
It has resulted in an unprecedented collaboration between the public and private sectors. Perhaps it's the way you've always imagined it should be.
Politicians are reachable to all – their home phone numbers are listed in the phone book! - and collaborate closely with business. Ideas are heard...and then acted upon. This collaboration is critical in attracting new expertise, professionalism, and residents.
2. Culture of Innovation
The Isle of Man has a culture of innovation and originality, which means they understand the entrepreneurial spirit and provide opportunities for it to flourish.They have successfully expanded into new industries such as aerospace, e-business, egaming, space, and film.
However, the Isle of Man has a long history of innovation and "firsts" in other fields:
- First with no corporate tax
- First to launch 3.5G mobile broadband service
- First RNLI lifeboat station in the British Isles
- First in Western Europe to give 16 and 17-year-olds the vote in national elections
- First mass-market holiday camp
3. Business Friendly
The Isle of Man is one of Europe's most business-friendly regions, ranking fourth in the category of "Most Business-Friendly" in fDi's European Regions of the Future 2008/09.
So, how do they make doing business simple?
This independent nation's government is nimble and responsive, able to meet the needs of both businesses and local communities by enacting effective new legislation, reducing red tape, and reducing bureaucracy.
The Isle of Man also demonstrates that small is beautiful: business leaders can quickly gain access to Ministers and senior officials. Change can be implemented much more quickly than in large jurisdictions.
Benefits of Investing in Dubai 1. Commercial Center of the Middle East: Dubai is a truly international trade axis, serving as a gateway to the Middle East, India, and Central Asia. Dubai, home to 13 of Fortune's Top 500 Companies, attracts business talent from all over the world. Dubai is also listed as one of the world's Top 20 Cities in the Global Power Index 2020. (GPCI).The Emirate, which is gaining traction, provides an excellent legal framework for business growth as well as a free enterprise system. Business leaders see Dubai as an untapped market with enormous potential for growth.
2. Great for Trading: Trading is one of the most important activities carried out by companies in Dubai. Dubai is one of the largest trading centers in the Middle East, with a diverse range of retail, commodities, and industrial products. A foreign investor has several options in terms of structure and licenses when establishing a company in the trading sector. Dubai's free zones are by far one of the best options for foreign investors looking to start a trading business.Those looking to establish businesses in Dubai can also consider startups, which have grown in popularity in recent years. Among these, fintech startups are the most sought after by young entrepreneurs from all over the world.
3. Growing Economy: When an investor decides to
invest in a foreign country, one of the most important factors they consider is the country's economic growth. The interesting thing about Dubai is that all of the numbers and statistics show that the city-state will continue to grow economically in the coming years. While oil-rich Middle Eastern countries and the capital of the UAE, Abu Dhabi's economy has taken a hit from recent oil crises; Dubai has thrived and emerged as a champion of planning and economic growth in the MENA region.
Conclusion: You’ve seen the various benefits of
investing in the Isle of Man and investing in Dubai. You can pick one of them according to your preferences. But when coming from a country like Nigeria, you’ll want a place that has fewer government regulations and fast implementation of policies, A place where you can easily reach high officials in the nation. That’s why the Isle of Man is the better option for any Nigerian investor considering investing in Isle of Man and Dubai.
Topic: Investing in Isle of Man vs. Dubai as a Nigerian entrepreneur (Read 141 times)
