The United Arab Emirates cyber security market is rapidly growing because of new technology and increasing cyber threats to businesses and individuals. Furthermore, the need to protect sensitive data and documents from sophisticated threats such as malware and ransomware will help further boost the market over the next few years.
By 2024, the UAE expects to be the region’s most prominent technology centre, accounting for 35% of the regional market and generating USD 85 billion in revenue. So, if you’re thinking of launching a cyber security business, the UAE is an excellent choice.
Before you start your cyber security firm in Dubai, here’s what you should know. By the end of this post, you will have all the information you need to get your cyber security business up and operational. This article will cover the following:
- • Advantages of starting a cyber security company in Dubai
- • Steps to start a cyber security company in Dubai
- • Cost of a cyber security license in Dubai
- • Working with Creative Zone
Advantages of starting a cyber security company in Dubai
There are several advantages to establishing your cyber security firm here in Dubai.
Setting up your company can be a quick and easy process. In less than two hours, you can register your business with the Department of Economic Development (DED), with the setup taking four to five days on average, barring any additional government certifications.
Also, foreign business owners may own 100% of the company by availing themselves of a variety of corporate structures. Additionally, the UAE exempts companies from paying any corporation or income taxes.
Cyber-attacks grow more sophisticated and prevalent with cyberspace expanding to include everyday life, social relationships, and economic interactions. In the first quarter of 2019, the UAE alone saw 1.1 million phishing attacks and 23 million malware intrusion attempts.
Furthermore, the health and banking industries have been more targeted because of the nature of the data they handle. Likewise, hackers may target government agencies, including the military, labour, immigration, and licensing authorities. If you set up and market your business correctly, you will most likely not run out of clients.
In addition to these advantages, international recognition, an appropriate geographical position, and a supportive corporate culture contribute to Dubai’s attractiveness as the perfect market for cyber security enterprises.
Steps to start a cyber security company in Dubai
There is little doubt that the cyber security industry in Dubai has enormous growth potential. However, getting there requires a detailed and time-consuming procedure. If you want to start a cyber security business, think about the following steps:
Step 1: Choose your company’s name
Your company’s name is an integral part of the legal procedure. Unless the company is a subsidiary of another, the name should ideally represent the core of the business. It is essential to adhere to the strict naming rules in the United Arab Emirates. It is against the law to use names that include offensive words or are derogatory to any faith.
Step 2: Decide the jurisdiction
Mainland, Free Zone, and Offshore are the three economic zones or jurisdictions in Dubai. Each jurisdiction has its own business rules and regulations that meet specific corporate needs. Choose a jurisdiction for your business based on what you need and what kind of business you have.
Step 3: Legal structure
When forming a business in Dubai, choosing the appropriate legal structure for your company is vital. It gives the foundation for dealing with profits and losses and structuring your assets and resources. Without defining your company’s legal structure, you cannot apply for a business license. Some of the legal forms or business structures available for registration in Dubai are as follows:
- • Sole establishment
- • Limited liability company (LLC)
- • Free zone company branch
- • Local or foreign company branch
Step 4: Submit all documents
The establishment of a company and granting a license take place concurrently. But the paperwork and approval procedure is multi-stage.
Whether you use a business formation agency like Creative Zone or file your application yourself. To set up your company, you will need the following:
- •The application form
- • Your passport copy
- • A No Objection Certificate if you or any other shareholder is working in a UAE company
- • A copy of your Emirates ID
- • An attested Memorandum of Association
- • A certified tenancy contract for the office space
Get in contact with one of Creative Zone’s business setup managers if you have any questions about the prerequisites. They can assist you in setting up your company as quickly as possible while keeping you completely compliant.
Step 5: Process your visa
So, on to the last stage in establishing a company in Dubai. You may submit visa applications for your employees and family members simultaneously as your visa application. Assuming that all of the information is correct, the procedure is divided into four stages:
• Getting an entry permit
• Changing your status
• Taking a medical exam
• Getting your Emirates ID and visa stamp
Cost of a cyber security license in Dubai
The cost of starting a cyber security company depends on multiple factors. They include license and visa fees, personnel and insurance costs, and the location of your office. A cyber security license in Dubai costs between AED 12,000 and AED 30,000.
To get an exact price quote, contact Creative Zone. We can give you an up-to-date price tailored to your unique requirements.
Working with Creative Zone
Cyber security is a highly regulated profession, and setting it up requires qualified and expert professionals to handle all government-related work. With the assistance of a business formation specialist like Creative Zone, starting your business can be quick, simple, and economical.
Creative Zone is UAE’s oldest and most trusted business setup expert, having assisted over 44,000 entrepreneurs in successfully establishing their businesses since our inception in 2010.
We specialize in delivering solutions that best fit your needs when starting a business by providing quick, dependable, hassle-free, and experienced assistance.
Assisting your business setup Dubai is only the first step. We also provide a wide range of services, including tax preparation, legal advice, and human resources management.
The benefits don’t end there. When you become a client of Creative Zone, through our networking tool, CZ Connect, every client gets access to a thriving community of fellow entrepreneurs. This allows you to interact, network, and develop significant relationships with the region’s larger business community.
Take advantage of our free consultations today and get unbiased advice on UAE business formation, with the sole goal of finding the best possible fit for your needs.