WHY DUBAI IS A GLOBAL STARTUP HUBSPOT?

Dubai is undoubtedly the best business destination in the Middle East, to start a new business. For many reasons, Dubai is considered one of the best places in the world to launch a startup. It's not just about being exempt from paying income tax.

Let's now discuss some of the top reasons why setting up a startup in Dubai is an attractive proposition.

ABUNDANT GOVERNMENT SUPPORT

DED has created its own wing, Dubai SME, to support start-ups. Providing advice and guidance on starting a business, financing options, tax incentives, visa programs, etc. In addition, there are many government programs to provide financial support for startups, such as:

Scale2Dubai: This program aims to support companies operating in Dubai and now looking to expand. Scale2Dubai opens new funding opportunities for shortlisted applicants.

Hamdan Innovation Incubator (HI2): HI2 offers innovative entrepreneurs a unique platform to start their business. It offers mentoring, seed funding, access to resources and networks, and legal advice. With HI2 you can even test your innovative products outside the UAE in Dubai. The project has supported more than 600 start-ups so far.

Dubai Entrepreneur Academy: As the SME education department in Dubai, the Academy provides comprehensive training and mentoring to entrepreneurs to help them grow their business.

Invest In Dubai: The largest one-stop-shop platform allows investors to obtain trade licenses and launch their business quickly in a matter of minutes. Under this digital platform, several local and federal entities and banks complete all transactions and set up a business.

The digital platforms help and guides entrepreneurs to open a business either in a free zone or mainland Dubai in different sectors, including technology, finance, agriculture and food, advanced manufacturing, entertainment and media, Islamic economy, healthcare, energy, electronics, professional services, and maritime.

The platform also provides information about visas, residency, and funding opportunities and shares stories of successful business people.

Incubator and accelerator

There are many business accelerators and incubators in Dubai that offer the support entrepreneurs need to launch their startups, including co-working spaces, professional networks and necessary support. Some of Dubai's most notable certified SMEs include:

Re-Urban Studio: A co-working space in Dubai specially designed for creative arts companies.

Co-Dubai: A network of multiple co-working spaces in Dubai.

ASTROLABS: Supporting technology startups in Dubai with capacity building and appropriate support.

College of Technology - Dubai Men's Campus: government funded college.

Bedat: A well-known business incubator in Dubai that helps build sustainable businesses.

British Business Centre: A dedicated center to help British businesses thrive in Dubai.

TALG Incubator: A private business accelerator that supports start-ups in the retail and consumer goods industries.

Tax Benefits

One of the most compelling reasons to set up your business in Dubai is the attractive tax system. The UAE's newly introduced corporate tax regime has established a corporate tax rate of 0% for companies with a net profit of AED375,000, making it a tax-friendly environment for new companies. In addition, there is no personal income tax in the UAE.

Free zone and supporting infrastructure

Dubai is home to more than 50 Economic Free Zones which offer various benefits to businesses such as 100% foreign ownership (no local partner required), property rights and access to world-class infrastructure. Businesses in these free zones can also benefit from customized services and facilities designed to help startups achieve their business goals.

In addition, the new corporate tax regime has exempted all free zones in the UAE from corporate income tax. This further enhances the attractiveness of this free zone and makes it easier for startups to start their free zone business in Dubai.

Various visa options

The UAE offers one of the most diverse visa programs in the world, making it easy for entrepreneurs to start a business. Depending on the business you want to start, you can use different visa options such as: B.UAE Business Visa, Gold Visa, Investor Visa or Green Visa.

Booming economy

The UAE has one of the most diverse economies in the world. In particular, the government has been trying for several years to reduce its dependence on oil revenues and focus on non-oil sectors such as tourism, hospitality, real estate and finance. This opens various business opportunities for entrepreneurs in the region.

Large Number of Expatriates

According to the latest census, only around eight percent of the UAE's population are Emirati, while the remaining 92 percent is made up of expatriates from different parts of the world. This creates a highly diverse environment with a large number of potential customers and partners for companies from different industries. You will also find it very easy to find diverse talent for your startup.

Wrap-Up: Launching a Startup in Dubai

Dubai is a fast-growing business hub that offers entrepreneurs the opportunity to take advantage of its many advantages and realize their startup dreams. With the right guidance and resources, launching a startup in Dubai can be an easy process.

The economy is booming and you have all the resources and support you need to thrive. Whether it's tax advantages, access to investors, or opportunities across multiple industries, Dubai is a great place to start.