Benefits of opening a startup in Dubai in 2022
Dubai's rapid economic growth, strategic location, and developed business culture have ensured its popularity among startups. The authorities welcome digital technologies, so they actively develop infrastructure for IT business. Opening a startup in Dubai in 2022 is also attractive because here you can register an offshore and save on taxes.
There are commercial free zones in the UAE, including Dubai, where it is very profitable to register and do business. Among the advantages are such points:
- The company can be fully owned by foreigners, whereas a local partner is needed to register a business outside the Free Zones.
- Full exemption from corporate tax, as well as on profits, dividends.
- Can not pay import and export duties.
- Ability to obtain a resident visa, valid for 3 years. If necessary it can be extended indefinitely.
- Unlimited hiring of staff.
- The simplified procedure of opening a bank account.
- Simplified accounting.
- A physical office is not necessary, which is especially important for companies that operate exclusively online.
There are several Free Zones in Dubai, each focused on a specific type of business. Before deciding where to open a startup in Dubai, it is necessary to find out more about each of them. For example, registration in Dubai Airport Free Zone (DAFZA) allows you to engage in crypto, trade, and provide services. If your company has a scientific focus, you can open a business in Dubai Sciense Park or Dubai International Academic City.
Attractive visa programs
One of the reasons why investors are considering Dubai for startups is to get a Resident or Golden visa. It is given to an entrepreneur who invests in a startup if certain conditions are met. For example, to invest $136,000 in business, real estate or funds.
Golden visa allows foreigners to work, start a business, not involving local residents to run the company. It is issued for 10 years, then automatically renewed.
Expo City Dubai
Another interesting thing that confirms that the authorities in Dubai are interested in startups is Expo City Dubai. It is a "smart city" based on Expo 2020. Life here is built on the basis of environmentally friendly technologies. Planned or already implemented:
- 5G network - full coverage;
- installation of smart meters to control electricity, water;
- construction of ecological houses;
- the launch of "green" transport.
Expo City Dubai has many exhibition and multifunctional halls where conferences can be held. Soon Expo City Dubai will host the headquarters of advanced and leading IT companies, including Siemens, Terminus, DP World.
How to register a startup in Dubai quickly
To register a startup in Dubai in 2022, contact IT-OFFSHORE experts.