The Oasis Reporters
January 27, 2020
Nigeria’s leading bank, Zenith Bank Plc is offering a 20% discount on it’s Dubai Visa fees when applications emanate via the Zenith Mobile App or it’s Internet Banking platform.
Zenith Bank Plc, recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS) is leveraging on the importance placed by the Nigerian, African and global business communities on Dubai, as an utmost destination for business transactions.
Zenith Bank won the Best Bank in Retail Banking and the Bank of the Year at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards and was ranked as the Best Digital Bank in Nigeria 2019 by Agusto & Co. Therefore it is not unusual to find it’s presence in premium business destinations across the globe.
There are reasons for these.
In Dubai, the cost of setting up a company, is low.
And prices keep dropping.
Added to its existing cultural and environmental advantages, this has transformed Dubai into one of the most attractive destinations for budding businesses and made it the second largest recipient of foreign direct investment (FDI) in Western Asia.
Our survey and investigations reveal that Dubai is one of the fastest developing business destinations in the world. In just over 40 years, the city has been able to transform itself into a leading business, travel, and lifestyle hub. Today, some of the world’s leading companies have offices in Dubai, with new businesses opening up every day.
No two ways about it, the UAE government has implemented a range of economic and administrative policies to achieve its vision of building a truly diversified economy, which Nigerians are dreaming about, hoping that one day, rhetorics on economic diversification would become real and Nigeria would become a most sought after destination on the African continent.
Here are some reasons why the global business community seeks to gravitate towards Dubai.
As a result of It’s excellent strategic location, Dubai offers both large organisations and start-ups the chance to conduct easy and cost-efficient business with three different continents – Asia, Europe and Africa. Its large coastline further eases transportation and reduces industrial development costs significantly.
Marvellous Infrastructure that Nigeria seems to wish for, is top grade in the City State.
Dubai offers businesses a lot of world-class amenities and commercial facilities like offices, retail stores and manufacturing units. To add to its existing coastline, Dubai has built the world’s largest man-made harbour – Port Jebel Ali. Other man-made islands like The World and Palm islands allow businesses to offer their customers a whole new experience in exclusivity and luxury.
Then add its Business-Friendly Policies.
Companies looking to start offices in Dubai are offered a range of support services by the administration and the government. Dubai also has one of the most famous zero taxation policies in the region. Companies registered in Dubai are exempt from most forms of tax like personal income tax, value-added tax, capital gains tax and corporate tax. Additionally, companies operating in Dubai’s many free zones are allowed 100% foreign ownership and very low import duties.
Easy Availability Of Manpower
Thanks to attractive salaries and a high quality of life, Dubai attracts skilled human capital from across the world. The government has also invested in large scale training facilities that help the available workforce become more competent and efficient. This saves businesses a lot of money that would normally be spent on training their employees.
Quality Of Life
Dubai is a fast rising cosmopolitan city that’s almost at par with cities like New York, London and Paris. Thanks to an abundance of five star hotels and high-profile malls, Dubai has been gaining a reputation as a leading luxury destination in the Middle East. This reputation has attracted a large number of high-spending customers,who have in-turn attracted international luxury brands like Bloomingdales, Gucci, Prada and Marks and Spencer into the region.
With all of these advantages and more, the decision to set up an office in Dubai or in any of its free zones should be an easy one for any business. Zenith Bank Plc has a representative office in Dubai, and Nigerian travelers to the wonder city state find it a convenient pedestal for the ease of financial transactions.