Dubai is always ahead in realising its visions and achieving its ambitious business projects. At a time when the major countries in the world including the US and UK are struggling with containing the new variants of the coronavirus, Dubai is announcing new plans to foster businesses. The plan to create a specialised district for investors and professionals working in the creative industry is expected to boost the prospects of business setup in Dubai.
Al Quoz, traditionally a hub for industrial projects, will house the business district named Al Quoz Creative Zone. The launch of the Creative Zone will invite more foreign investments as it will ease the process of company formation in Dubai for creative professionals and entrepreneurs. The Zone will provide new licenses, permits and affordable rental schemes for entrepreneurs focusing on content, design and arts.
Read ahead to further understand the vision, mission and benefits of Dubai’s programme to enhance the creative economy in the emirate.
Why is Dubai’s Creative Zone so Important?
Unlike any other field, creative professionals have no qualms in migrating to places that offer them opportunities. Industries such as arts, content creation and design are not restricted by any boundaries. In line with this, the Al Quoz Creative Zone is likely to provide the creative professionals with an integrated ecosystem for company formation in Dubai. By operating their businesses from Dubai, the creative entrepreneurs will have more opportunities to find a global client base for their endeavours.
Turning Dubai into Capital of Creative Industry
The Creative Zone is being built in line with the government’s Creative Economy Strategy that aims to increase the number of companies operating in the field of culture, media, and design. When fully implemented, the strategy will ensure that the number of creative firms will increase from 8,300 to 15,000 by 2025. Also, the government seeks to increase the contribution of the creative economy to the country’s GDP from 2.6 per cent to 5 per cent.
As a result, the job opportunities in the creative industry will rise from 70,000 to 140,000. Along with bolstering the landscape of business setup in Dubai, the Creative Strategy will turn the emirate into a global capital of creative industries. Many of the top business setup consultants in Dubai have reported an uptick in enquiries since the government announced the formation of the Creative Zone.
Who will benefit from the Creative Strategy?
The Dubai Creative Economy Strategy basically aims at improving the investment environment that is essential for boosting the growth of creative industries in the emirate. The creative economy covers a broad range of professions and businesses such as,
Publishing, writing, audio-visual and print media
Cinema, music and video creation
Cultural industries, cultural heritage museums, historical sites, archives
Major cultural events, libraries
Software and video game industry
The strategy also includes design, which can be related to fashion, gaming, software, or architecture. By opening a company in Dubai Creative Zone, the investors and professionals can easily accomplish their entrepreneurial dreams. Consult with top company formation specialists in Dubai for making the process less cumbersome.
What does Dubai offer for Creative Professionals?
By devising a strategy for creative professionals, the government aims at the sustainable development of the creative industries. The government will roll out the necessary legislative, investment and technical frameworks to help the creative professionals to set up a business in Dubai. The entrepreneurs will get a number of flexible packages, incentives and advanced creative incubators that will reduce the complexity of company formation in Dubai.
A Golden Opportunity to Grab the Cultural Visa
Initiating the process of business setup in Dubai is a once in a lifetime opportunity for creative professionals to obtain a long-term cultural visa. Setting up a business in Dubai in the new creative cluster will be the first step to obtain the 10-year cultural visa granted by the UAE. Currently, the visa is being granted for accomplished creative professionals who meet the eligibility criteria such as,
- Years of residency in the UAE
- A history of achievement in the field of knowledge-related and creative industries
- Willingness to meet optional conditions and pledges for each category, including a pledge to contribute 36 hours of service to the community in the UAE in creative or artistic capacities
Jitendra Business Consultants can Advise You
The new Creative Economy Strategy and the plan for a Creative Zone have made the ecosystem of business setup in Dubai more appealing for creative professionals. More companies, jobs are in the offing which would further bolster the contribution of creative industries to the GDP. With the help of the best business setup consultants in Dubai, creative professionals from across the world can easily set up their businesses in the emirate.
Entrepreneurs who set their foot for the first time in Dubai would require specialised advice from company formation specialists such as Jitendra Business Consultants (JBC) given the complexity of the process. JBC’s business setup services in Dubai include customised consultation on company formation in free zones, mainland and offshore. JBC will guide the entrepreneurs on obtaining visas, drafting legal documents, and opening a corporate bank account. More importantly, JBC aids the investors in navigating requirements such as Anti-money Laundering compliance, Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO) etc.