Most business people who have thoughts for a startup seeking to implement it might confront a few troubles in choosing the perfect location, activity, taxes, type of license, fees, among numerous others. Here are four reasons why the UAE is the right place for business startup and a flourishing startup scene is the correct decision for your business.
As the startup scene in the Middle East keeps on developing, the UAE’s commitment to becoming a worldwide leader in technological advancements, as it transitions to a knowledge-based economy, has made it home to a few of the enterprises in the locale. As stated by the World Economic Forum, 29 of the 100 Arab Start-ups shaping the fourth industrial revolution are based right here in the UAE. This is a thought piece exploring the UAE’s great potential for turning into an attractive starting-up center for business visionaries from around the globe.
1. Easy set-up options
The UAE has various free zones, which offer incentives to new businesses. A few advantages of having your start-up set up in a free zone include reduced expenses of operations, quick track company set-up as well as procedures, 100% retainment of your equity (instead of having a 51% share for a local partner for onshore company set-up). Further, most new businesses are exempted from corporate income tax, as most offer different tax holidays to workers for a period somewhere between 15 and 50 years. At MSZ corporate services provider we will assist you to set up your business in UAE in a quick and easy process.
2. Relaxation of Foreign Ownership as well as Visas
A large number of free zones across the nation do offer the possibility of 100% ownership, this option isn’t constantly perfect as it accompanies its challenges. The geological region limitation is the fundamental setback for the free zone companies, as they are limited to do business inside their free zone of incorporation or outside of the UAE.
The new foreign direct investment law 2018 eases the necessities on foreign ownership, intending to open up the UAE market to foreign investors. The list of activities and sectors eligible for 100% foreign ownership consists of 122 economic activities across 13 sectors. Organizations meeting these necessities may submit an application to the DED (Dubai Economic Department), which in turn chooses the determines the percentage of foreign ownership, which likely could be “up to” 100% foreign possessed.
Adjustments with visa necessities additionally contribute to empowering foreign entrepreneurship.
3. Investments into Technology
Under its promise to diversify the economy away from oil, the UAE has started a series of successful initiatives, which have supported its successful change towards a knowledge-based economy. The UAE’s Vision 2021, the National Innovation Strategy, the Dubai Integrated Energy Strategy 2030 as well as 10x, all set different ambitious targets towards taking innovation in the UAE to new heights, as well as empowering business. The UAE has been one of the main enterprising center points in the Middle East as well as North Africa (MENA) retaining its top spot in H1 2019 by representing 26% of all deals and 66% of all funding in the locale.
4. A Growing Economy
Provided the relative ease of securing capital over the area, there is no doubt that the UAE has a strong economy to which empowers it to keep on supporting sizeable investments into innovation.
The projections for 2020 look significantly even more promising. The momentum isn’t only fiscal stimulus. Expo 2020 is expected to drive up demand for entrepreneurs by attracting 25 million visitors.
Contact MSZ corporate services provider
MSZ corporate services provider assists in setting up a business in the UAE with more than 12 years of experience. If you’re looking to set up a business in UAE or have a question regarding why UAE is the right place for startup feel free to contact us +971562181007 or email at info@msz.ae
