Why UAE is the right place for Business startup?
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.
Relaxation of Foreign Ownership as well as Visas
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.
Investments into Technology
A Growing Economy
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.