Dubai is expanding its business infrastructure by attracting more investors. The number of Startup companies in Dubai is rising rapidly. Opening a startup in Dubai will help investors realize their business ideas to reality. The business-friendly policies and growing business opportunities with a low tax regime are fuelling the growth of startup companies in Dubai.
What is a Start up Company in Dubai?
A Start up Company in Dubai is a legal entity that has just started its business operations in the region. It could be started by a single owner or multiple owners with a few employees. Also, a few of the start ups in Dubai are self-funded, and some are funded by venture capitalists or start up funding companies.
In Dubai, startups are the most common type of companies, and most of them operate lean with a single owner or 2 to 3 Co-Founders and a core team that will work ahead to scale it up as a full-fledged company.
Mathew is an entrepreneur in Germany, and he wishes to start a startup Company in Dubai. He researched and found out that Dubai is a low-tax regime and has enormous business opportunities.
So, Mathew learn more about the process of establishing a start up in Dubai. He identifies there are the following steps involved in starting a start up in Dubai.
Steps in Starting a Startup in Dubai
To start a startup in Dubai, the investor can take a systematic approach. With the help of expert business consultants in AURION, they can easily navigate through the process of setting up a startup in Dubai.
Identifying the right business option is essential. In Dubai, UAE there are three major ways a start up company can be established – Mainland, Free Zone, Offshore
IT Consulting, General Trading, Software Sales – Depending on the business operations, select the right activities for the startup company in Dubai
Document Preparation and Submission – For opening a startup in Dubai, the passport photo and passport copy of the investor are the mandatory documents. Along with the application form, submit the documents to the trade licensing authority.
Coworking, Fully Furnished Offices – Most of the business activities in Dubai across Free Zones and Mainland do not require an office. It can be done remotely. However, to enhance customer trust and business growth prospects, it is better to take an office space for your startup company.
So, obtain the tenancy contract for the office space and make the required fee payment to complete the process of securing the office space for your startup company in Dubai.
Free Zone or Mainland Licensing Authority Review – The submitted documents, office space tenancy contract, etc., will be reviewed by the trade license authority, and the trade license for the startup will be issued.
Investor Visa and Corporate Bank Account – As the startup Company License is ready, the entrepreneur can now apply for a UAE residency visa. They will get an investor visa under the company. Also, they can apply for a corporate bank account for the new startup company in Dubai.
What are the Benefits of Opening a Startup in Dubai?
There are numerous business advantages for investors in starting a business in Dubai. The city offers enormous business opportunities, global connections, business-friendly policies, low taxation, and more.
It is a perfect choice for launching a startup. Here are a few of the benefits of opening a start-up in Dubai.
1. Dubai is a Start up Hub
Dubai is a global start-up hub that is well-connected to the world. It is a perfect place to launch your startup, as the city is multicultural and multinational with a diverse audience base for any product under the sun.
The logistics infrastructure and airport seaport connectivity make Dubai easy to access. Furthermore, Dubai is the meeting point between Europe and Asia.
2. Get your business license in 1 Day
The business-friendly policies make it easy to launch a startup company in the city. Within the same day, you can apply and get your business license. Start operating your business in Dubai without any roadblocks.
Easily obtain the business license by submitting the shareholder documents. Full ownership in the startup is possible in Dubai. So, launch your startup and start operating your business in Dubai without any hassle.
3. Free Zones Support to Start ups
Startups are best launched in the Free Zones of Dubai. The Startups will have tax benefits while being in the Free Zones and operating within the Free Zones. They can also get international projects and work on them without changing their present location.
Also, the Startups that are in the Free Zone can avail the office spaces, trade license, and residence visa at an affordable cost based on the company setup package. To support the growth of startups in Dubai, the Free Zone provides ample business facilities to startup investors at the lowest cost.
4. Immense Start up Funding Opportunities
In Dubai, there are immense opportunities available to fund your startup. There are few venture capitalists, angel investors, and government-backed funding programs in UAE.
Startups operating in Dubai can seek funding by pitching their startup idea to business accelerator hubs such as in5 and Hub 71. Also, some initiatives promote the startup growth in Dubai, such as the Dubai Future Foundation project and, Dubai SME program.
5. Technology and Innovation Investments
There is a lot of technology and innovation happening in Dubai. So while you open a startup in Dubai, you are getting a chance to experience the latest technology and innovation first-hand.
The Startups in Dubai work with the latest technology, such as blockchain, AI, automation, etc. Also, smart transportation, sustainable energy management, and healthcare innovations are a few other areas of work that new startups are exploring.
6. Live Work Settle in Dubai – Golden Visa for Startup owners
The Startup Founders in Dubai are eligible for 10-year Golden Visa. There are various ways how they can secure the Golden Visa. Startup founders with more than AED 2 million investment in property, projects beneficial to UAE economic growth, or an investment amount as capital in any company in the UAE, etc., make the startup founder eligible to apply for the Golden Visa.
So, the investor in a startup can get the golden visa if they meet the specific criteria. They can live, work and settle in Dubai for a longer time. Along with the Golden Visa, the city offers an exceptional quality of life, healthcare, business infrastructure and more.
7. Events and Business Networking
There are various networking events conducted in Dubai by various organisations. Also, to support the startup growth, there are various events such as Gitex, Expo, other conferences, and more.
So, startups in Dubai can collaborate and expand their work by teaming up with new clients. They can grow their business network by being part of the events and trade shows.
Hence, ambitious entrepreneurs can easily launch their start up company in Dubai and be part of the growth story. There are immense business opportunities in the region for investors to explore.
As Mathew learns the benefits of opening a startup in Dubai, he decides to shift his base from Germany. So, now he wants to open a startup company in Dubai. Then slowly scale it up to a large business establishment operating across multiple locations in the world.
Connect with our team to get started with setting up your start up in Dubai the most hassle free way.
