Starting a technology business in the UAE is one of the best investments you can make for your business. The country’s strategic location combined with its modern and well-developed infrastructure has made it a hub for forward-thinking IT companies.
The Middle Eastern nation also provides the perfect opportunity for business expansion, enables corporations to tap into new markets, and connects with other companies and customers in the region. This makes it easy for IT businesses to operate and scale up.
The UAE also offers a highly favorable business environment with a low corporate tax rate and a transparent legal system, making it an attractive destination for foreign investors and business owners. All of this has been made possible through a multitude of government initiatives for developing the IT sector as a way to diversify the local economy. Therefore, right now is the right time to set up your technology-focused business in the UAE.
To start a technology business in the UAE, you will need to take the following steps:
Choose a legal structure for your business:
This could mean setting up a limited liability company (LLC) or a free zone company. Each structure has its own set of benefits and requirements.
Acquire relevant licenses and permits
This step revolves around obtaining the necessary licenses and permits for your business. This will depend on the type of technology business you are starting and the emirate in which you are located.
Register the business with the right authorities:
Register your business with the relevant government authorities, such as the Department of Economic Development (DED) or the Dubai Creative Clusters Authority (DCCA). Once again, the relevant body that you will need to register with will depend on the emirate in which you are planning to set up your business.
Set up your offices
This step involves finding a suitable location for your business. It could be an office or co-working space. You are now ready to start your business.
Here are some of the main tech-related business activities that you can acquire permits for in the country; IT product sales, IT consulting, IT maintenance and support, IT developments, fintech, edtech, cyber security, and hosting and data storage.
Conclusion:
The United Arab Emirates is a favorable destination for IT businesses due to its strategic location, favorable business environment, government support, access to regional markets, funding and investment opportunities, business-friendly regulations, strong infrastructure, and access to events and networking opportunities. Setting up an IT business in the UAE can offer many benefits and opportunities for success. However, it’s still important to conduct thorough research and due diligence and to consult with local business set-up experts to ensure the best possible outcome. At Unity Partners, we can support you throughout the business formation process from company incorporation to opening of bank accounts, PRO support, outsourcing of business processes and more. Get in touch with our business support advisors for a consultation today.