Ever thought of a startup in Dubai or in UAE? Dubai has become a popular destination for startups, and there are a good number of reasons to believe why the UAE is the most favored destination.
Why a startup in UAE?
The government of UAE has taken measures to transform Dubai into a smart city under the initiative of My Smart Dubai by encouraging the wider use of technology into the picture.
The UAE offers healthy tax benefits for all types of business setups.
On and off there are conferences and training programs organized to augment the journey of startups in the UAE.
When you establish a startup in Dubai you are exposing your business not just to Dubai or UAE but also to the entire world, especially to the MENA and European markets, because of the multi national business presence here.
Dubai has been listed as one of the best startup hub in the world because of the stable economy, safe and secure political environment, and quality lifestyle.
Where should your business be setup?
Setting up a business in Dubai or anywhere in the UAE can be a bit tricky. Hence you need to understand a couple of factors. There are two jurisdictions where you can establish your startup.
One is in the DED mainland where you establish your startup in a 49-51 partnership with a local Emirati, who also becomes your visa sponsor and holds the 51 % share of your business.
The second jurisdiction is in the UAE Freezones where you or your partner owns 100% of the company. But when one establishes a company in the free zone, you can solicit business from the DED mainland only through a local agent.
The Cream for Startups
Since startups have a limited budget its always best to opt for a renewable UAE freelance visa which is valid for 3 years, which issued upon setting up your business as a freelancer in one of the free zones. This option is relatively economical than any other UAE company formation.
With a freelance visa you do not even need to open a full-fledged office but you can opt for a flexi desk option, which is offered by the free zone, for a few hours of the week.
This has always been a roadblock for the most innovative business but today funding resources have become easily accessible. There are a significant number of angel investors in Dubai and across UAE who want to invest in startups.
There are multiple platforms in Dubai where one can meet and network with investors. These platforms are either networking events or conferences solely dedicated for these purposes.
All one needs is a strong business and marketing plan to impress the angel investors and secure the required funding. If you cannot develop these basic elements there are professionals who offer these services along with other services such as mentoring, branding, etc., at a reasonable cost.
Hop on the startup wagon; begin the process of establishing your company setup in Dubai, and accelerate your dream and passion on the track of success.