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Is Dubai Planning A New Gaming Free Zone?
Published on February 20th, 2020.
Dubai recognises the interest in technology and the gaming sector is continuing to rise. As a result, Dubai is contemplating if gaming should be added to the mix of free zones. The Dubai Free Zones Council are exploring the possibilities to conduct a feasibility study to determine if there is a need to set up a free zone dedicated to gaming. This study remains a hot topic and was debated at the latest meeting of the Dubai Free Zones Council.
GAMING FACTS & NUMBERS
The number of gamers globally reaches nearly 2.5 billion. Analysts predict the GCC gaming market is set for rapid expansion and estimate it could be worth $821 million by 2021, while the wider Middle East and Africa games market is projected to be $6 billion by 2021.
In 2019, Dubai hosted the region’s largest gaming festival – Insomnia Dubai and the world’s leading esports event for ladies – Girlgamer Esports Festival.
The latest meeting of the Dubai Free Zones Council (14th meeting) was conducted and chaired by Sheikh Ahmed bin Saeed Al Maktoum and the statement issued did not expand on the gaming free zone plans. However, the Dubai Free Zones Council are also re-examining progress on creating an electronic portal for all free zone entities in Dubai along with a comprehensive geo- economic map of the Emirates of Dubai. The Dubai Free Zones Council have suggested developing collaboration between the following:
- Dubai’s free zones.
- Dubai Chamber of Commerce and Industry.
- Dubai General Directorate of Residency and Foreigners Affairs .
WHAT IS A FREE ZONE?
A free zone is also known as free trade zone which is invented for improving international business. A free zone provides 100% ownership to expatriates and foreign investors. In the UAE, there is over 50 free zones that are classes as general or industry free zones. General free zones provide a wide range of business activities with options for trading, consulting and industrial licenses. There are free zones that are also industry specific such as technology, media, education and healthcare etc that provide business activities related to a certain industry with options for trading, consulting and industrial trade licenses. There also free zones that are dedicated and attached to airports and seaports.
FREE ZONE BENEFITS
- 100% company ownership.
- 100% repatriation of capital and profits earned.
- 0% corporate and 0% personal tax.
- Exemption from import and export duties.
- Inexpensive workforce and easy recruitment procedures.
WHO IS CURRENTLY FULFILLING GAMING NEEDS?
The main providers to fulfill gaming needs and places to play include:
- Hub Zero – Opened its doors in 2016 and known as UAEs first immersive entertainment park. The indoor centre features attractions and rides based on popular video games. There are gaming zones, attractions, experiences, rides and more.
- Millennium Avenue Gaming Café – This is for eSport gaming to play with a group of friends at a 24/7 gaming café featuring a list of the best games on the market. Players can select a game that suits your niche and have fun beating friends at the same time.
- Que Club – This is for serious game players. Que Club is in Al Barsha area of Dubai, holding regular tournaments and housing 120 kitted-out gaming computers. There is an exclusive VIP section for those who are die hard players and want to plan games in nice surroundings.
- Rails JLT – Not to be disappointed there are powerful gaming rigs, best performance gear including top-of-the-range gaming headsets and mechanical keyboards. Rails JLT is made for hardcore gamers to battle it out, tournament-style where the best players can win up to AED 3,500.
- VR Park – VR Park dares you to challenge reality. VR Park will take you to distant planets, the distant future and the not-so-distant world of a fully virtualization of Dubai, this is a not to be missed visit.
Overall, the UAE is set to continue to provide and create more business opportunities and look for new and innovative ways to be the next technical revolution.
Whether you want to set up a free zone or a mainland company, we can have your business setup, operational, and earning profits in as little as 24 hours.
Our team will analyse your company’s needs to ensure we guide you towards setting up your business the right way. Contact a member of our team today to discuss and explore your options.