With More Than 30 Freezones, Dubai is the Ideal Place for Startups

Mr Jitendra Gianchandani was speaking to Khaleej Times in response to ‘Innovation Attraction Programme’ or IAP launched by Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and Chief Executive of Emirates Group.

“Dubai needs to set up a free zone especially dedicated to attracting the youth similar to the one introduced by Ajman that offers a pioneering package and a freelancer package for Dh5,000,” said Jitendra Gianchandani, chairman of Jitendra Consulting Group.

“Apart from that, start-ups should get bank facilities at low-interest rates. At the moment, start-ups have to rely on their own funds. Banks are treating them on par with other established companies. Start-ups should get preferential rates and with less paperwork as they can’t provide mortgages. Start-ups should also get relief in license fee and visa costs. It takes five years for any business to flourish and establish. The government should give start-ups at least five-year of relief package until they become mature and self-sufficient,” Mr Gianchandani said.

Read the full story on Khaleej Times here