The government of Dubai has successfully been able to attract global interest from technological based entrepreneurs who are keen to invest in the leading startup hub of Middle East. Due to availability of excellent infrastructure and impressive support services, foreign investors look for business opportunity in Dubai. With new innovations in IT sector and increased accessibility of tech based devices to everyone, more business activities are evolving to cater this field. That is why Dubai is progressively developing its business landscape in digital technology.
According to Crown prince of Dubai, “Government of Dubai will use its last paper transaction in 2021”. What does this implicate? This means that by 2021, Dubai will be transformed into Digital Dubai; a paper free city whose all data will be compiled in one place called as “Digital safe of Dubai Data” which will facilitate public and private institutes as well as individuals.
Dubai is emerging as business center of Middle East and is the first choice for new business startups. We can see the influence from techpreneurs and large scale tech corporations willing to invest in most prominent emerging sectors such as fin-tech, e-commerce, artificial intelligence, virtual reality and many others. It is expected that e-commerce business in Dubai will grow to $10 billion in 2018.
Many notable projects such as Smart Government and Smart City are under way to increase the usage and scope of technology in Dubai. For this purpose, government has already installed free Wi-Fi Zones in more than 200 areas which include malls, parks and beaches in order to help people access information easily. These projects will fulfill the purpose of digitalizing the city and make government more responsive and be able to utilize their resources efficiently.
Dubai Free Zones to facilitate tech based company
Dubai is providing high class facilities to tech-based entrepreneurs for their growth in business friendly environment. Various free zones cater to this need such as Silicon Oasis, Dubai Internet City and Dubai Outsource Zone engage IT companies in their research and development of industrial products. World renowned companies such as Google, Microsoft, Cisco and Oracle have their offices in Dubai free zones.
With Dubai Plan 2021 also under progress, government of Dubai aims to provide following facilities by 2021,
- Smart and livable digital DubaiConnected and more responsive government
- Globally competitive economy with help of technology
- Providing ease of access of social and governmental services to people
- Tech based smooth transportation system
- Facilitate new tech start ups
Start A Tech Based Company in Dubai Free Zone
Free zones in UAE provide a friendlier regulatory and tax environment for new business startups and Small and Medium Enterprise. Following are popular free zones for tech based business,
- Silicon oasis
- Dubai internet City
- SHAMS free zone
- Ajman free zone
Benefits of Dubai Free Zone for IT Companies
- 100% foreign ownership of company
- 100% repatriation of capital and profits
- 0% personal tax, 0% corporate tax
- No paid-up capital requirement
- Easy access to and local and international banks
- Easy to incorporate
- 24/7 access to office
- Investor visa for three years and can sponsor your family too
- No restriction on hiring of foreign employees
Major Tech Based Activities
There are multiple options for tech startups. Some of them include,
- IT consulting
- Software development
- Network services
- Technological equipment sales
- IT trade
If you are looking to start a tech based company in Dubai free zone, contact our business formation agents at KWSME. We provide complete business setup solution to our clients.
Following documents are required for tech based startups in Dubai free zone,
- Passport copy of owner/ partner
- Visa copy of owner/partner (if already UAE national)
- Visit visa copy of owner/partner (if new to UAE)
- Passport size photograph of owner/partner
- 3 proposed business names
- Business plan
- Power of attorney
In case of a freelancer, following documents are required,
- Copy of passport
- Copy of visa
- Passport size photograph
- Graduate degree in field of relevance ( which is verified and attested by HEC, Foreign office and UAE
- Embassy of relevant country)
- Activity plan
KWSME Services for Tech Based Startups
Get to know more about tech based startup options for your new company in UAE. Consult with our business setup advisers about licensing options and business registration in Dubai and know further about benefits of setting up tech-based company in Dubai free zone and leave it upon us to find the right jurisdiction for your business. We have a team of company registration experts who will provide you company formation services from scratch. Contact our business agents today.