Startups are one of the most important participants in local economies as many governments have invested a lot in offering incentives and stimulants for their development in the last few years. It is also the case of Dubai, where startup companies have started developing at a fast pace. There are various advantages linked to the opening of a startup in Dubai, among them the most important being probably the Emirate’s booming economy.
Our company formation specialists in Dubai explain below the main advantages of opening a startup here. You can rely on us if you want to launch a startup in Dubai.
Startup companies in Dubai
Even if they are registered just like any other companies in Dubai, startups are called so because their main goal is to offer unique services or products on the market. Also, startups are small companies which can fit well in any economy, no matter the size of the country. As for startups in Dubai, these are flourishing at the moment.
If at the beginning startup companies were operating in the high-tech and sciences industries, now, they have expanded their areas of operation in other industries.
One of the most important advantages of creating a startup in Dubai is the fact that the Government has put a lot of effort into developing state-of-the-art technologies which go hand in hand with this type of company.
If you want to open a company in Dubai and are thinking about a startup, do not hesitate to ask for the support of our local consultants.
Why create a startup in Dubai?
There are many reasons for investors to open startups in Dubai and here a just a few of them:
- Dubai is the most important business hub in the Middle East making it a great destination for young entrepreneurs from all over the world;
- Dubai has had one of the most spectacular economic developments in the world after the 2008 economic crisis;
- the Emirate is one of the most modern cities in the world in which startups can blend perfectly;
- in a world where startup companies need governmental support, Dubai is one of the places these can actually find this support;
- Dubai is unique for having the largest number of free zones in the world, most of them being suited for modern activities;
- the taxation regime imposed in Dubai favors all companies, but it favors startups most of all;
- Dubai has one of the most developed infrastructures in the world in terms of road and telecommunications.
There are many advantages for those seeking to open a startup in Dubai and if you need help in registering such a company, our company formation agents can help you.
Easy registration for startups in Dubai
The company registration procedure of a startup in Dubai is as simple as for any other business. The steps for incorporating a startup in Dubai or any of its free zones imply preparing the documents which need to be filed with the Trade Register and obtaining the necessary licenses for starting the operations.
In the case of free zone companies, some of the most modern free zones in Dubai in which high-tech companies can be registered as startups are:
- Dubai Science Park which is the first free zone in the world to target scientific activities;
- Dubai Silicon Oasis which was set up in 2005 and is regarded as the Silicon Valley of the Middle East;
- Dubai Knowledge Park which is another free zone in which startup companies can thrive;
- Dubai Internet City which is suitable for those who want to create startup companies in technological fields;
- Dubai International Financial Centre is suitable for fintech startup companies in Dubai.
New visa system for attracting young talented entrepreneurs in Dubai
One of the main advantages of opening a startup in Dubai is the creation of a new visa system that targets offering 10-year visas for businesspersons, professionals and real estate owners interested in investing in Dubai.
This visa system will represent the perfect opportunity for those interested in opening companies in Dubai, including startups.
Those who already own startup companies in Dubai will be interested in knowing that:
- the UAE government has approved the budget for 2019-2021 at 180 billion AED;
- for 2020, the budget approved by the government is 60.3 billion AED;
- next year’s Dubai Expo is expected to attract more than 25 million visitors and thus attract a great economic increase;
- at the moment, Dubai has the youngest workforce in the region, 44% of the employees being recently graduated individuals.