The surge of the Information technology industry in the international market has left a lasting appearance. Even amidst the outbreak of the COVID-19 pandemic, the IT industry stayed robust and was amongst the first entities to adapt to the “new normal”. Hence, if you also wish to form your information technology business in Dubai, you have selected the appropriate time and the right location.
The United Arab Emirates has specialized free zones that give advanced infrastructure and an advanced working ecosystem for forming an IT corporation. A software corporation in Dubai can manage different business activities. You can establish a tech corporation that includes app development to provide SAAS services. Your domain can also comprise biotechnology, technology for finance, and more.
Where to Start an Information Technology Business in Dubai
A vital decision that you need to make for forming an information technology business in Dubai is the business spot. You can choose the mainland of the emirate if you wish to indulge in trading in the Dubai emirate and across the country. You obtain all the legal approvals for your corporation directly from the Economic Department of the emirate. Hence, this is easy to incline your business towards a global outlook and extend your existence across the country also. A mainland LLC establishment also needs you to partner with a local partner who will need 51% of the ownership stakes of the company.
A free zone formation is an affordable solution for business setup in this emirate. Each free zone has an independent legal structure, so you would require to select the one that suits your business needs. The migrant can relish 100% company ownership when the company formation is in a free zone of the Dubai emirate. Luckily, the UAE has many IT-focused free zones that make your selection smoother.
Steps to Start an Information Technology Business in Dubai
Starting an information technology business in Dubai is not complicated, and when you comply with all the legal formalities and present the appropriate documents, you can begin your business in a rapid tenure. Here are the major moves that you need to follow –
- Reserve a Legal Business Name
Your business requires to adhere to all the needs of the lawful business names formed by the government. This has not to be offensive or insulting to anybody in any way. If you are wanting to utilize a person’s name for your IT business make sure that you utilize the complete name and not a surname or nickname.
- Decide the Business Location
This is imperative to have deep knowledge of the different business spots in the United Arab Emirates. Selecting the appropriate location that suits your business activities can assist you to save so much money and feature smooth business operation. Choose if you wish a mainland formation or a setting up in a free zone.
- Prepare the Necessary Documents
A business set up in this emirate includes several legal duties and document submissions. A business setup consultant can assist ease out the procedure and make sure that all papers are sanctioned in one go. The documents comprise business name reservation, investment of the legal business license, and more.
- Visa Application
Apply for your visa and the visas of other partners and employees. You will obtain the official visa stamping once the verification is done of entry permit, medical fitness, and more. You are not prepared to operate your information technology business in Dubai with proper authorization.
Why Start an Information Technology in Dubai
One of the remarkable advantages of forming an information technology business in Dubai is the freedom of free corporate taxes and free profit repatriation. In addition, you get trouble-free obtainability of resources such as quality labor migrated from all around alongside modern internet features.
Dubai gives favorable market terms and conditions and ease of international access to its business person. Hence, beginning a business in Dubai provides your business an advantage over others in the ambition. Details and interactions adoption in the sector in blend with digitized execution makes it a hotspot for new business people.
- Free zone
Of all the emirates, the Dubai emirate is the greatest-rated emirate that gives free zones to inspire domestic and overseas investors for starting their businesses. It-focused free zones in Dubai promise fascinating business terms, incorporating office framework and accommodation spots for corporations and employees. Your IT business would definitely advantage if this functions in the country.
Documents Required for Information Technology Business in Dubai
• Copies of the passport of the company’s partner and the owner
• Payment evident of the pre-approval cost
• NOC from the sponsors
• A single investor is needed to pay 10,000 Dh, while 20,000 Dirhams are collected as a protection deposit by partners who have a professional license. The business requires to hold a designated office for which the owner can add a rent contract.