Why did he choose the Emirates?

In a wonderful television interview, the youngest billionaire entrepreneur residing in the Middle East, Pavel Durov, founder of the “Telegram” application, summarized the reasons for his preference to live in the Emirates and moved his company’s headquarters to Dubai. The facts he listed translated the value of the country as the best global investment destinations, and how it enhanced Its position is thanks to an efficient and fair legal system and judicial system.

Durov says that he moved to the Emirates in 2017 (seven years ago) as an experiment, planning to spend six months at most, but he decided to completely move his business and the headquarters of his company to Dubai, after he realized that it was a wonderful place, as he described it, and he no longer looked at it. Back after settling in.

He adds that he took this decision for several reasons, most of which are related to a legislative system that was reflected in the level of services and the ease of providing them, indicating that the first reason is the flexibility of doing business, compared to anywhere else in the world, as it allows him to recruit employees from any country as long as they receive fair salaries. Residence permits are granted to them automatically, unlike most European and Western countries that complicate the recruitment and employment process.

The second reason is the effective tax system, which allows the investor to work freely, enjoying exceptional infrastructure in exchange for paying the minimum taxes, in addition to other reasons related to luxury, ease of living, and the presence of excellent facilities.

Durov joined the Forbes list of billionaires in 2018, when his wealth reached $1.7 billion, and is currently estimated at about $15.5 billion. His interesting talk about why he prefers the Emirates does not differ from the opinions of all the entrepreneurs who found what they sought in the country, after being reassured by two main factors that represent… The most important guarantee for any investor is security and fair justice.

There is no doubt that the updates that have occurred in the laws of investment and company ownership, especially in Dubai, have opened wide horizons for businessmen and investors of different nationalities, as they grant them wonderful rights and privileges, and make it easy for them to establish their companies, or invest in existing companies, with complete ease.