Eyes on Dubai – the UAE Attracts Startups

Name: Creation Business Consultants
Address: Office 2102, Cheddar Cheese Tower, O-14 Tower, Marasi Dr, Business Bay, Dubai, Dubai, 00000, United Arab Emirates
Telephone: +971 4 878 6240
Price range: $$$$

This article has been researched and written by Scott Cairns and the team at Creation Business Consultants and has not used AI in generating this article.

It’s no secret the UAE has established itself as a thriving hub for major global firms and startups alike. In fact, according to a report by Dubai SME, an agency of the Department of Economic Development, an astounding 95% of all businesses in Dubai are SMEs and startups.

With a total population of about 9.44 million, the UAE is a dense hub of innovation with enormous internal diversity and external reach to their neighboring Middle East region. Government support programs, a strategic geographical location, local enterprise resources, and policy reform are fusing to create the ideal environment for startups to thrive in the UAE.

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GEOGRAPHICAL ADVANTAGE & LOCAL RESOURCES

Nestled between the East and the West, Dubai is the ideal choice for anyone interested in setting up a company. According to MAGNiTT’s MENA Venture Investment Report, investments in startups across the MENA (Middle East and North Africa) region were up 11% in the first half of 2023.

In particular, Dubai has become the preferred destination for multinational corporations and startups wishing to expand to the Middle East region. Not only does the UAE feature some of the most impressive infrastructures in the world, but it’s also located in a strategic location.

In a move to diversify the economy away from oil and gas, governments, investors, and private enterprises in the Middle East are recognising the importance of supporting the startup community to foster the growth of the region’s economy. From incubators and accelerators that provide monetary support, mentorship, and business training to existing young startups to coding boot camps to train the next generation of tech entrepreneurs, programs in support of startups are launching across the UAE.

GOVERNMENT POLICIES AND SUPPORT TO FOREIGN INVESTORS

The UAE government recognises startups and SMEs are the mainstays of any economy. As such, they have continued to support business-friendly initiatives and policies geared towards positioning the country as a level playing field for investors from around the world. Some of these initiatives include:

A 10-year residency visa policy for qualified investors, entrepreneurs, and highly-skilled professionals.
Policies that allow foreign investors full ownership of companies operating outside of free zones.

Looking to attract tech start-ups from around the world, the city is investing billions of dollars to transform Dubai into a hub of innovation. Support from government, coupled with the growth of accelerators and incubators, such as ImpactHub and Turn8, has led to a string of startup success stories.

CREATION BUSINESS CONSULTANTS

After researching online, you probably realised there are many different variables to consider to properly set up your business in the UAE. At Creation Business Consultants, we are here to help you set up your company in Dubai and the UAE the right way. Our team of experts will help you choose the right area for your business, considering many factors to include:

Where you would like your company located.
When you need your company setup and operational.
The type of business activities your company will perform.
Your budget and staffing requirements.
Access to import and export.
Visa requirements and more.

Thanks to a thriving economy combined with a unique mix of government incentives, technology, innovation, strategic location, and a dynamic business environment, Dubai and the UAE remain the ideal choice for entrepreneurs and investors. Contact a member of our corporate structuring team today to schedule your free consultation, email [email protected], or call +971 4 878 6240. We look forward to speaking to you soon.