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Dubai’s Booming Opportunity: Opening an IT company in Dubai
The rise of the information technology (IT) sector in the global market has had a lifelong impression this year. The United Arab Emirates (UAE) has among the best IT markets in the Middle East, according to Global Data. It is powered by digitization programs and increased adoption of the latest technologies, including big data analytics, artificial intelligence (AI), cloud, and the Internet of Things (IoT). Therefore, opening an IT company in Dubai would be an excellent investment.
While other industries struggled during the pandemic, the IT sector remained strong. In fact, it was among the first sectors to adjust to the “new normal.” But how do you go about setting up an IT company in Dubai? Keep reading to find out.
Impact of the IT Industry in Dubai
Dubai has experienced a huge effect from the IT industry. For instance, it has led to the following:
Increased government support.
Dubai’s technological journey started in 1999 after the announcement of the first IT strategy. Since then, the government has launched and supported numerous IT projects, like Dubai e-government and Dubai smart government.
Increased IT start-ups.
The emirate and federal governments have made a lot of investments to make Dubai a business-friendly environment. As a result, more investors find it the ideal place to set up their IT-startup businesses.
Dubai becoming a key host of major conferences and events.
Thanks to its advanced digital and IT infrastructure, Dubai is considered an excellent place to hold key international IT events like GITEX.
Dubai becoming a tech and innovation hub.
The growth in the IT sector has made Dubai an international tech hub. With simplified policies for setting up a business, Dubai attracts top IT talent worldwide. Therefore, it’s the perfect place to become a hub of innovation and tech.
Benefits of Opening an IT Company in Dubai
There are plenty of reasons why opening an IT company in Dubai would be a great venture. Some reasons include the following:
Significant government support
According to Global Data, IT spending in the UAE will hit 23 billion USD by 2024. Governments at both federal and emirate levels in the UAE have made commitments to making Dubai a tech business-friendly environment. They support the companies through creating easily accessible workspaces and financial and funding support, making it ideal for anyone looking to start an IT company.
Dubai boasts state-of-the-art road, airline, and shipping networks. The government has also invested significantly in building exceptional digital infrastructure.
Also, with the introduction of a digital-centric economic growth strategy, the city looks to attract the best international entrepreneurs, investors, and talent through its digital economy-friendly policies.
A Perfect Center for Innovation
Unlike most entrepreneurial environments, over 90 percent of the UAE’s population comprises expats. As a result, it is the ideal center for building new IT products and services, thanks to the accessible labor from various demographics and nationalities.
Do Business the Easy Way
An IT company requires access to key emerging markets to succeed. Dubai is at the core of the Gulf Corporation Council (GCC). As a result, it offers easy access to fundamental markets in Europe, Africa, and Asia. Therefore, it’s a great place to start an IT company and expand your company’s access to global markets.
Opening an IT company in Dubai
Establishing an IT company in Dubai can be challenging, especially if you don’t follow the necessary legalities. Here is what you need to do to open your IT company in Dubai:
- Set aside your legal company name following the standards established by the UAE government
- Determine your business location- Dubai free zone is the most cost-effective option
- Complete the necessary paperwork and submit the required documents
- Apply for a visa- Seek your visa and those of other staff members and partners you look forward to working with and are ready to get started.
Opening an IT company in Dubai opens your business to plenty of opportunities. From accessing world-class infrastructure to having 100% ownership of your company and exclusion on personal and corporate tax, setting up an IT company in Dubai Free Zone can help you attain unbeatable success.
If you’re unsure about how to go about opening an IT company in Dubai, Choose UAE is here to help you get started in just a few weeks.
How Can Choose UAE Help
At Choose UAE, we have an experienced team to guide you through the entire company formation process. We offer unbiased and up-to-date advisory services and free consultation with company formation to facilitate a hassle-free setup process. Contact us for more information.