Over the course of many years, Dubai has established a stellar reputation as a booming economic hub, thanks to the efforts of a plethora of different sectors and industries. Most notably, technology has become more prominent in recent years.
These days, Dubai is often regarded as a top contender among the world’s most attractive locations for the technological industries. Many new businesses from all over the world have flocked here to team up with tech giants like Microsoft, Google, Facebook, and others.
Why Establishing a Tech Company in Dubai is a Good Idea
First, let’s talk about why Dubai, United Arab Emirates is a good place for any business to start. The United Arab Emirates is well-known for its low and flat VAT rate of 0% and its zero percent tax rate on corporate and individual income.
The United Arab Emirates is also in an excellent position to engage in international trade. The city’s central location in the Middle East provides it with easy access to other parts of the region via land, air, and sea, and its time zone allows it to maintain close ties to the world’s other economic and technology hubs.
When it comes to technology companies, in particular, the advantages persist. There are many initiatives in Dubai aimed at fostering the development of tech startups. This complements the emirate’s already advanced technological infrastructure and a variety of tech-focused free zones.
If you’re looking to launch a technology company in any of Dubai’s Free Zones, ExpressPRO can act as your business consultant by listening to your requirements and then suggesting the best course of action.
The Process of Setting up a Technology Company in Dubai, UAE
Here is a quick summary of the steps and schedule involved in launching a tech company in the United Arab Emirates. You can rest assured that the process will go smoothly and quickly when you choose ExpressPRO to handle it on your behalf.
1. Choose Your Commercial Activities
You must first establish your business activities in detail. Because “technology” is so vague, you need to be specific about your goals. To make sure you have the right license, ExpressPRO will assist you in matching these to one or more of the 2,000+ activities approved by the Department of Economic Development (DED).
This is the first thing you should do because it could determine the kind of license and setup you need.
2. Select a Company Name
Selecting a company name is the next stage in establishing yourself as a successful technology company in Dubai. At this point, it’s important to follow certain naming guidelines. In a nutshell, your chosen name must not be blasphemous, derogatory, or confusingly close to that of an already established company or organization. If you’re going to name your company after yourself, you should use your complete name.
3. Submit an Application for a Technological License
The application for your business license can now be submitted, having completed the preceding requirements. Making this submission to the DEAD or its equivalent on the mainland is required. When establishing a tax-free zone, applications are submitted directly to the free zone’s administration.
ExpressPRO will handle all of the coordination and follow-up with the relevant authorities on your behalf to ensure that your documentation is in order before submission.
4. Submit Your Residence Visa Application
You must have a residence visa to legally live and work in Dubai. You will be needed to undergo a physical fitness examination, blood test, and chest X-ray as part of this process. You should also apply for your Emirates ID at this point.
You can apply for visas for your spouse, children, and domestic workers once granted residency.
5. Set up a Corporate Bank Account
Opening a corporate bank account in Dubai is the final stage before launching your technology company to the marketplace. Since this isn’t usually the easiest procedure for people who aren’t GCC nationals, ExpressPRO is here to help once again. We’ll discuss your needs in detail and help you narrow down your banking options to find the one that meets them best.
Documents Required to Launch a Technology Company in Dubai, UAE
Several factors, including the type of setup, the location of the firm, and the operations of the business, will determine which documents are required to launch a company in Dubai. However, the following are typically needed:
- Completed application form
- Business plan
- Copies of the colored passports of the firm’s shareholders and the appointed Manager/Director of the new company
- Sample signatures of the business’s shareholder/shareholders and the designated Manager/Director of the new company
- A certificate of reference from the individual shareholder’s bank or two years’ worth of audited financial statements from the company
Once you have this, you must additionally submit:
- Resolution of the Board Appointing Manager/Director (notarized and attested)
- Articles of Association and Memorandum of Association (notarized and attested)
- The authority will be in charge of preparing the lease agreements (if applicable)
How Much It Will Cost to Launch a Technology Company in Dubai, UAE?
In Dubai, obtaining a license for a technology company costs between 20,000 and 25,000 AED. However, this will differ based on the location of your anticipated business activity, the visa requirements, and the office needs.
In addition to hiring workers, finding suitable premises, and acquiring permits, you’ll need to consider the cost of setting up your business on the mainland of Dubai. To receive a comprehensive, personalized estimate, get in touch with ExpressPRO.
Which is better For Starting a New Company in Dubai: the Mainland or the Free Zones?
When beginning the process of company formation in Dubai, information technology companies face several important choices, one of the most important of which is the jurisdiction in which to establish their business. Both the mainland and the free zones of Dubai offer chances for the straightforward and cost-effective establishment of businesses. When compared to those on the mainland, the processes and regulations necessary to incorporate a corporation in Dubai’s free zones are distinct. Tech businesses can expand their service areas throughout the UAE by forming a mainland company in Dubai. Due to the rules for establishing a company in a free zone, however, businesses can engage in both international trade and domestic trade. Investors should engage in the best business setup services in Dubai before deciding on a location.
Why Start Your Company with ExpressPRO?
The procedure for establishing a corporation in Dubai is meant to be straightforward and uncomplicated. However, it does necessitate some preparation and background information, particularly for those who are unfamiliar with the area.
When you choose ExpressPRO, you gain access to our global expertise and regional understanding. First, we’ll learn about your company and its needs, and then we’ll take care of everything you need to do to become a business owner in the UAE, including filling out paperwork and liaising with the relevant agencies.
Furthermore, we continue to work with you even after we’ve launched to ensure your success in this amazing tech hub.