Dubai’s Growing Startup Culture makes it an entrepreneur-friendly location for business world. Dubai has its fast growing network of entrepreneurs, incubators and all type of other big businessmen of all sectors. The geographic proximity to basic important markets is making Dubai a notable & attractive destination for start-ups.
One of its Emirates, Dubai, has long been famous for both holidaymakers and professionals seeking greener pastures abroad. Due to its diversified economy, the standard of living, state-of-art infrastructure, and ease of doing business, the Emirate of Dubai is a hub for business owners, entrepreneurs, startups, and investors.
The government of Dubai focus on non-oil economy is supporting the growth of the startup infrastructure. Innovation remains the focal points of Dubai’s initiatives to maintain its stature as one of the world best smart cities.
Advantages of setting up your Startup in Dubai
- Gain easy access to the international markets
- Ease of business setup and quick company formation
- Government support towards entrepreneurship and Startup culture
- World class infrastructure facilities and Free zones
- Geographic advantage as Dubai connects the East and the west.
As per the Global Entrepreneurship Index, UAE is ranked 26th globally and third in the MENA region in 2018. Studies indicate that the majority of the Startups in UAE, Dubai are e-commerce, and infrastructure/software as a service.
Startup Support Infrastructure in Dubai
The Startup growth in Dubai is support by Government and semi-government institutions to a large extent. Also, there are many incubators and Free zones to provide required infrastructure support for the Startups in UAE.
To name a few Free zones that support the Startup culture is the Dubai Silicon Oasis, Fujairah Free zone, Dubai Media City Free zone, DMCC, etc.
The Free zones in UAE offers special licenses for freelancers, flex-desk and shared workspace for all type of entrepreneurs with a business license & other incorporation certificates, share certificates to support their entrepreneur efforts and gain results.
1. Technology Support
UAE is a young country with attractive financing options, a large network of banks, and ultra-modern infrastructure. UAE has planned a massive tech transformation and continue its journey of building a smart and futuristic city.
To promote innovation and development, the UAE has invested in research institutions and technical centers. UAE is aiming to provide complete technology support and build infrastructure that stimulates the Startup ecosystem and draw more entrepreneurs into Dubai.
2. Access to the International Markets
UAE is the perfect location for any business. Due to the virtue of the geographic location UAE act as a link between the east and the west. UAE is well connected to the Airports and Seaports of the world.
The logistics support and operational infrastructure in the UAE make it stand out as a perfect location for Startups to try, test and execute their business plan.
The global connectivity, business infrastructure, secure banking system, political stability, etc., are making UAE the perfect choice of the investors.
3. Government Support
The Government of UAE is very supportive for Startups, entrepreneurs, and innovation. There is a wide range of incentives offered by the government to new business set up in Dubai.
The Free zone Authorities, Department of Economic Development, and the Government of UAE are implementing Startup packages to stimulate the growth of Startups.
4. Tax Benefits
UAE has very few tax norms, it just being two years since VAT has been introduced in the Dubai market. There is no income tax on individuals.
However, there is a corporate tax for oil companies and foreign banks. Also, for specific goods that are harmful to human health or environment, there is an excise tax levied.
For businesses, the Free zones in UAE has a 100% tax-free environment, with only 5% VAT to be levied when doing business with the Mainland and rest of the GCC Countries.
Also, Free zones allows 100% profit and capital repatriation and a 0% customs duty if operating from the designated Free zone and not in the Mainland.
5. Living Standards
Dubai has already grown into a prominent business hub. Over the decades Dubai has become one of the best cities to live in with all top-class services and amenities for the public / residence.
UAE is an extremely safe place to reside, the living standards in the UAE is much higher than many countries of the world. There are numerous cost-effective residence options available in UAE. The Dubai Government’s initiatives are constantly focused on making Dubai the happiest place on earth.
6. Investor Friendly Location
As per the Dubai Statistics Centre, 56% of all companies registered in Dubai is early-stage Startups.
Dubai offers cost-effective Startup packages, world-class infrastructure, lifestyle, and ability to easily setup business models, access to well-qualified mentors, workshops, events, and supportive investment community.
For Startup Your business in Dubai – UAE, contact with us today. We, Emaraat Business Consultant will help you to complete setup your business in your desired affordable free zone of UAE.
Arslan Rashid as expert of setup your business in UAE will assist you completely once you share you business plan with us. Wish you all the best for your Business & Success.