The exponential growth of the information technology (IT) sector and tech startups have been the main economic driving factors in the last two decades. In contrast to other sectors, these industries remained resilient and registered remarkable growth even during the COVID-19 pandemic. Although the pandemic restrictions subsided and there has been an upheaval in the tech space, IT and tech industries are expected to grow and thrive in this digitally connected world.
Businesses and entrepreneurs looking for a favorable location to expand or business set up can consider Dubai or other tax-free jurisdictions in the UAE, as the UAE government offers various incentives and ecosystems for IT businesses to grow and thrive. But becoming a UAE IT company requires planning and knowledge of local rules and regulations, applicable taxes, and fees, which can be challenging for someone new to the country. Therefore, contacting a business setup UAE consultant, such as Beacon Al Manal LLC, can be a good idea for startup founders and IT companies to establish and launch their businesses.
Many international organizations, such as World Economic Forum, have placed UAE as the most high-tech country in the Mena (Middle East and North Africa) region. UAE has an impressive transport and tech infrastructure, thanks to the government's focus on transforming the country into a knowledge economy. According to Beacon Al Manal LLC, a business setup consultant in Dubai, UAE's specialized zones, such as Dubai Silicon Oasis (DSO) and Dubai Techno Park (DTP), offer advanced infrastructure and innovative ecosystems for business set up in Dubai, UAE. However, entrepreneurs need to consider a suitable location, domain, and right business activity to take advantage of the incentives offered by the government.
Choosing a business setup location is critical and perhaps the first step before forming a full-fledged IT company in Dubai or UAE. Those planning to offer a country-wide trade can select Dubai Mainland. Then, one can register with DED, start providing IT services, and grow their presence in the UAE. But forming a Mainland company requires a local sponsor or partner. A business setup Dubai consultant can help find a suitable alliance for developing an IT company on the Mainland. In contrast, Dubai free zones offer a cost-effective solution for setting up an IT business and the possibility of 100% ownership.
Dubai Company ExpertMany free zones in the UAE provide financial benefits to new businesses. Starting a business in a free zone has many advantages over doing so on the Mainland, including lower operating costs, streamlined business setup, and procedures, and complete ownership (instead of requiring a local partner to own 51% of the company). In addition, most startups do not have to pay corporate income tax since they provide their employees with tax breaks that typically last anywhere from 15 to 50 years. According to Beacon Al Manal LLC, startup founders and foreign companies can select any of the three free zones to enjoy the benefits:
These three zones offer different incentives and infrastructure supports for IT companies. For instance, DSO provides a tech-savvy atmosphere, a tier-3 data center, and an advanced ecosystem for business setup in Dubai. On the other hand, DTP can be a suitable location for tech companies looking for no currency restrictions and 100% ownership. Those planning to set up IT businesses can consult Beacon Al Manal LLC to choose the best Dubai free trade zones suitable for their business activities.
With proper assistance and guidance from business setup consultants like Beacon Al Manal LLC, opening an IT business in Dubai becomes a straightforward process. In addition, they can help streamline the entire process, including:
Beacon Al Manal LLC began assisting individuals and organizations in setting up tax-free businesses in the United Arab Emirates in 2014. Since then, they have helped over 400 individuals and corporations with the company set up in Dubai and UAE. It provides a complete package of business setup Dubai services, from business registration and visas to opening a business bank account and office locations.