CONNECTING YOU TO OPPORTUNITY
If you’re a tech entrepreneur and you’re looking for a place to set up your startup, then Dubai should be top of your list. Boasting many of the same credentials that Silicon Valley had during its early days, the Dubai tech startup scene is strong – and growing stronger.
In this article we will look at these key factors to consider when you launch a startup in Dubai.
The key benefit of launching a startup in Dubai is that you are operating in a place that is bursting with talent, investors, incubators – everything you need to start and grow your company. You can start small then grow from there since Dubai offers all the associated office space and business services you could need along the way.
At the cross-roads of three continents, with a track record of major tech acquisitions (such as Careem and Souq.com), Dubai is the place for your new startup. And with the delayed Expo2020 now underway, bringing in an estimated 25 million people over its six-month period – it all adds up to create a very exciting place to turn your tech ideas into reality.
The cost to launch a startup in Dubai will depend on your chosen business activity, company size and where you set up.
As an approximation, you might expect a free zone setup to be around AED 20,000 – AED 25,000 for both license and visa. Keep in mind that there will be additional costs should you require qualifications or accreditations specific to the particular activity you are doing as a tech startup.
It’s worth at this point speaking to Creative Zone who have the latest pricing and can tailor-make a package that suits your exact needs, and give you an accurate quote.
When you’re looking to get your Dubai startup up and running there are a number of steps to follow. Let’s break these down:
Step 1: Decide on your business activity: It is vital that your chosen activity aligns exactly with the business activity you are going to undertake. To make sure everything here is clear and compliant, it’s worth bringing in the services of a company formation specialist. This is not an area where you want to make a mistake as it can cause serious issues if you are carrying out unlicensed activities, even unknowingly. It’s important to note that every activity you carry out – within your startup – must be specified so you have the correct license.
Step 2: Choose a company name: The UAE is fairly strict when it comes to naming companies, so it’s important to be aware of the regulations. Essentially, you must avoid any language that could be seen as offensive or blasphemous. You must avoid any name that is already held by a well-known organisation. If you’re naming your company after yourself, ensure that you don’t abbreviate your name. So Donald Michaels Solutions is fine, but D. Michaels Solutions is not. Of course you will also need to ensure your chosen company name is still available for you to register.
Step 3: Select free zone of mainland setup
The next decision you need to make is whether to set up on the mainland or in one of the UAE’s free zones. Free zone setup is popular and often very cost-effective – however, if you do take this route you would have to take some additional steps (such as opening a branch or using a distributor) if you want to trade directly with the UAE market. Only a mainland setup allows you to trade with the UAE market without extra steps.
It’s here that a company formation specialist can advise you on the best option for your chosen business.
Whether making your application yourself, or through a company formation agent, you are usually only required to provide a few details and some basic documentation, including:
The application process is also fast, with all company documentation in place it can usually be issued within a week.
So those are the key points around business setup in Dubai where it comes to a tech startups. It’s fairly straight-forward and you should be up and running quickly.
When you’re looking to set up a new company, or even as a freelancer, you can be sure what you’re getting from Creative Zone is the latest, up-to-date info from people who deal with this every day.
While the setup process can be somewhat stressful, you can fast-track it by working with a Dubai business setup specialist. It’s the quickest way to get set up in the UAE, letting us take care of all the details and ensuring your application is free from errors.
We can also help you with opening a corporate bank account and also offer important advice on the type of financial institution that would best suit your requirements.
Here at Creative Zone, we offer you the best solutions to start your company in the UAE. You get fast, reliable and unbiased advice on your unique business setup requirements. We can help you choose the right kind of license for your chosen business activity/activities and take you through the entire process from start to finish.
You can let us deal with the hassle of registering a company while you focus on your business. And working with us means you get the best budget friendly and cost-effective solution to help make your business dream a reality.
Over 10 years, Creative Zone has helped over 36,000 entrepreneurs set up their businesses. Whether it be a mainland business setup, offshore company setup, free zone company setup or issuing of trade licenses and any related activity for registering a company, Creative Zone is your one-stop-shop.
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