This article was updated on July 7th, 2023
This article was updated on July 7th, 2023
This article has been researched and written by Carolyn Cairns and the team at Creation Business Consultants and has not used AI in generating this article.
The United Arab Emirates (UAE), is regarded as one of the developing startup hubs of the world. With competition from diverse sectors, the 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.
The UAE is notorious for its amazing use of technology and digitalisation in business over the past couple decades. In the UAE, IT and IT businesses have been thriving, especially in the Emirates of Dubai and Abu Dhabi, which have made a name for themselves as worldwide centers of innovation and technology. There are several benefits to establishing a computer and IT business in the UAE, including access to a booming market, a supportive business climate, and a prime location that spans continents.
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 (AI), 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 the UAE, it is only now that tech-entrepreneurs are influencing the development of the country with their large-scale tech-corporation investment.
The primary benefits of establishing a technology mainland entity in Dubai and the UAE include:
Below we have listed a few tech-related business activities you can potentially venture into:
Depending on your requirements and business goals there are several options to consider when setting up a tech and IT company in Dubai and the UAE. The following are the key choices:
UAE free zones are providing better tax regimes and a friendly environment to start up a new business. Since several free zones have become attractive location for many SMEs, free zones are now vital hubs for startups. Free zones offer:
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.
The regional headquarters of some of the biggest names in the market, including Facebook, Google, LinkedIn, Twitter, Snapchat, and TikTok, as well as Dell, Intel, Huawei, Samsung, SAP, Microsoft, IBM, Oracle, Cisco, HP, Nokia etc. are in Dubai. The cluster environment covers the entirety of an ICT company’s value chain and offers enterprises of all shapes and sizes the chance to join a lively, like-minded community of knowledge- and innovation-driven IT organisations. Perhaps, it is time to attain your dreams and aspirations. Our Commercial Director of Carolyn 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.
It’s crucial to speak with local business consultants or specialists in company formation who can walk you through the criteria and procedures involved in forming a tech or IT firm in the UAE. They can speed up the setup process, verify compliance with rules, and offer advice specific to your company’s goals.
Overall, the UAE’s strategic location, supportive infrastructure, business-friendly legislation, and access to a broad market make it an appealing place for the establishment of tech and IT companies. Tech entrepreneurs can launch profitable businesses in this dynamic and growing ecosystem by properly navigating the setup procedure and utilising the resources at their disposal.
Whether you need help setting up your new company or need help expanding into a new market, Creation Business Consultants – Corporate Structuring and Tax Team are equipped with the knowledge, expertise, and experience to help your business grow. Contact a member of our team to schedule your free business consultation today on [email protected] or call +971 4 878 6240.