UAE is regarded as one of the developing startup hubs of the world. With competition from diverse sectors, UAE is gaining tremendous global interest, especially from tech-entrepreneurs who are interested in investing in the impressive infrastructure built by the UAE government.
As technology continues to flourish and enhance accessibility through innovative products, businesses are dealing with extreme pressure as they need to be constantly updated with technology related news.
Research in 2016 indicated that the number of private startup companies increased by 45% and since then UAE has only grown, especially since the government has initiated a focus on innovation. Some of these prominent emerging sectors include fintech, artificial intelligence, virtual reality (VR), and e-commerce.
Additionally, Dubai has received acclamation for being the world’s most future-forward city. This was given only due to the constant implementation of creative and technologically-friendly ideas resulting in an increase in economic growth of the country. This also has led to an increase in diversification and a boost in public happiness and satisfaction.
While Dubai is regarded as the ‘Business Hub’ of UAE, it is only now that tech-entrepreneurs are influencing the development of the country with their large-scale tech-corporation investment.
Additionally, UAE free zones are providing better tax regimes and a friendly environment to start up a new business. Since several free zones have become an attractive location for many SMEs, free zones are now vital hubs for startups.
Free zones offer 100% company ownership, 0% corporate and personal tax, and 100% gain of capital or profits. Moreover, some companies do not have to rent office space and can have multiple UAE visas. Several activities including e-commerce and tech-related facilities such as IT consulting, software development, and sales can be established in free zones. Most of all, this could be one of the most affordable options if a company is planning to expand their business or if an entrepreneur is intending to establish a company in UAE.
Perhaps, it is time to attain your dreams and aspirations. Our MD of Creation Business Consultants, Scott Cairns believes that “The best way to predict the future is to create it.” Our company has professional executives who have years of experience in the business sector and aim to guide you in clearing all the formalities for establishing a company. For more information on company formation services, read through our professional services page at /government-liaison/.
