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 businesses. Opening a startup in Dubai in 2022 is also attractive because you can register an offshore company and save on taxes.
There are commercial free zones in the UAE, including Dubai, where it is very beneficial to register and do business. Among the advantages are the next things:
- 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 tax on profits and dividends.
- It's possible not to 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.
- 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, and each of them is 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, business 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 might want to open a business in Dubai Science 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, one can invest $136,000 in business, real estate, or funds.
A golden visa allows foreigners to work and start a business, without having the residents run the company. It is issued for 10 years and then automatically renewed.
Expo City Dubai
Another great 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, and it is featuring environmentally friendly technologies. The following things are planned or already implemented:
- 5G network - full coverage;
- installation of smart meters to control electricity and water usage;
- construction of ecological houses;
- the launch of "green" transport.
Expo City Dubai has many exhibitions 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, and DP World.
How to register a startup in Dubai quickly
To register a startup in Dubai in 2022, contact IT-OFFSHORE experts.