Five Reasons Tech Investors Should Set up a Business in Dubai Silicon Oasis Free Zone
Since the signing of Abraham Accords with Israel in the latter half of 2020, the company formation in Dubai has become more attractive for tech startups. Foreign investors expect 2021 to be a phenomenal time for setting up a tech company in Dubai as they can leverage from the technological prowess of Israel and the robust infrastructure facilities in the UAE. A dedicated free zone such as Dubai Silicon Oasis (DSO) assumes greater significance while discussing the relevance of forming an IT company in Dubai amid the newfound opportunities in tech.
Often hailed as the UAE’s answer to Silicon Valley, DSO’s sophisticated facilities and easy licensing procedure makes company formation in the UAE a lot easier for expatriate investors. Enlisting the services of business setup consultants in Dubai is the most feasible way to get to know the licensing procedures, but we provide you with some fundamental insights about why you should put DSO on your radar. Here is a list of 10 things you must know before setting up a business in DSO.
1. A Free Zone Dedicated to Tech Companies
Your search for the best free zone in the UAE to start a tech company would mostly end in DSO as it is an industry-specific free zone dedicated to tech businesses. DSO is more than a free zone; it is an integrated technology park where people can live, work and play. DSO is a unique free zone where you can see the commingling of modern tech-based industries and an urban master-planned community. DSO is widely regarded as the sole technology park in the region to offer both a living and integrated working community.
2. Unique Licenses for Company Formation
DSO offers a wide range of unique business licenses to facilitate easy company formation in the free zone. Foreign investors, depending on their business activities, can obtain the following licenses,
- Service License for specific services mentioned in the license
- Trade License for import/export/distribution of goods
- Industrial License for manufacturing, assembling, packaging etc.
3. Flexible Legal Structures in DSO
Choosing the right legal structure is paramount while undertaking company formation in Dubai as the wrong business type may cripple the investors’ business progress. Therefore it is imperative to know beforehand the types of companies you can start in DSO, which is given below:
- Free Zone Establishment
Investors can set up a Free Zone Establishment (FZE) in DSO if they have a single shareholder. An individual or a corporate entity can be the shareholder in an FZE incorporated in DSO. Investors can gain knowledge about the registration procedure by consulting with the best business setup consultants in Dubai.
- Free Zone Company
A Free Zone Company (FZCO) is defined as a type of company incorporated with a minimum of two shareholders. The shareholders can be individuals or corporate entities. Seek the advice of company formation specialists in Dubai before choosing the legal structure.
- Branch of Foreign / UAE Companies
Companies established in the UAE or foreign countries are allowed to open their branch in the free zone. However, the activity of the branch registered in DSO should be identical to the activity of the parent company. Process of company formation in DSO is fairly straightforward, which eases the burden from the shoulders of foreign investors.
4. Excellent Office Space Options
DSO offers a wide range of plug & play or co-working space options for startups to set an office space in Dubai at affordable rents. The office space facilities start from 160 sq ft. upwards, which is also perfect for setting-up regional offices and R&D centres. The office space features include:
a). High-speed internet
b). CCTV & 24 hour security
c). Outdoor sitting area & landscaping
d). Easy access to banks, restaurants, coffee shops, and post offices
e). Premier data centre
5. DSO is a Popular Spot for Affordable Living
DSO’s pocket-friendly rent has made it a popular spot for living, which enables foreign investors to lead a standard living within the community. The investors can bring their families to live within the DSO by sponsoring their visas with the help of business setup consultants in Dubai. Even though DSO was started in 2002 as a technology park, it has grown by leaps and bounds to become a buzzing residential neighbourhood that offers both a living and integrated working community for the expatriate entrepreneurs.
A Great Time to Set up A Tech Company in Dubai Silicon Oasis
Tech investors find it the best time to initiate company formation in Dubai due to a number of reasons, including the recent agreement with Israel and COVID-induced demand for tech services. With the help of Israel’s tech know-how, the dynamics of business setup in Dubai is poised for a positive transformation. DSO is the best free zone option for tech investors when it comes to business set up in Dubai considering the office space options, licensing structure and pocket-friendly rent options.
Normally, the process of company formation in DSO can be completed within a week, but you need to ensure that your documentation is complete and accurate. An inaccurate or inadequate application may lead to further delays, which can be avoided with the help of business setup consultants in Dubai, such as Jitendra Business Consultants (JBC). JBC’s team of business set up advisers are highly qualified and well-versed in UAE laws and free zone regulations, which means they would make sure that your application is complete and error-free. Availing JBC’s business setup services in Dubai helps you accomplish your business goals without any hassle.