Thousands of enterprises operate in Dubai, UAE. There are many more launching each year. You will be fascinated to see the great work ethics followed by the famous Dubai incubators of different bodies.
It also has a favourable tax system, with both business and personal income taxed at 0%. The benefits continue for entrepreneurs who establish businesses in UAE-free zones, including 100 percent customs tax exemption, profit repatriation, capital, and zero currency exchange restrictions.
Not only that, but there’s more. In addition, Dubai is home to several startup incubators, which are meant to assist new businesses in establishing and growing themselves in the region. This post will tell you about some of Dubai Startup incubators and the advantages of having their assistance.
How to start a start-up in Dubai, UAE?
The first step is to join forces with a business incubator like Dtec. The startup incorporation process in Dubai is somewhat specific, so working with a specialist is recommended.
Outlining your business tasks is one of the first steps the professionals will assist you with. Making this obvious from the start will make the remainder of the process much more straightforward.
The next step is to decide on a company name. It’s preferable to get this done ahead of time because you’ll need to register it before you can trade in the UAE. There are a couple of name conventions you must follow. They are as follows:
- There are no abbreviations, only full names.
- Any words that could be insulting or blasphemous are prohibited.
- To register, you must be free.
- You can now submit your license application after making these options. This procedure is divided into multiple steps.
- You can create this application on your own, but it’s best to collaborate with Dtec at this point. They can ensure that your application is complete and error-free, saving you time and aggravation later.
- You will be required to submit some basic papers, such as a passport copy and a business plan, as part of your application.
- They can also help you with your visa application at this time. Dtec provides a variety of license packages that include several visas. A service license, use of a workspace in a shared area, and eligibility for two visas are all included in the flexi desk package, for example. AED 18,000 per year is the starting price for this bundle.
Whatever type of business you want to establish in Dubai, UAE, the professionals choose the best place to start.
Describe the start-up programs in Dubai
The following are some of the most well-known and effective startup incubators in the UAE:
Area 2071: Managed by the Dubai Future Foundation, Area 2071 is a one-of-a-kind ecosystem that helps global entrepreneurs launch and expand their businesses in the UAE. A network of strategic partners, investors, and entrepreneurs is available to Area 2071 members.
Hub71: The Abu Dhabi government developed Hub71 to attract top investors and venture capital funds to promote digital start-ups in the emirate. Hub71 works with significant business stakeholders like Abu Dhabi Global Market (ADGM).