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Setup Your IT business in Dubai : Updated

IT Business Setup in Dubai Start an IT Business in Dubai  : 2024 Guide Apply Online Contact us How to Start an IT Business in Dubai? Here’s Your 2024 Guide  It’s natural to think of opening an Artificial Intelligence, Digital Marketing , IT or software company in Dubai in 2024 when everyone is talking about ChatGPT, the new kid on the AI block.  How to start an IT company in Dubai or a software business? There’s a whole host of reasons why so many business-oriented people from the world over are searching for answers to this question. 100% business ownership, liberal taxes, business-friendly policies, ease of doing business, advanced infrastructure, world-class economic zones, access to global talent, e-government system, tons of business opportunities, tourism-friendliness, diverse expat population and the whole nine yards, what else one needs to set up an IT business! So, let’s cut to the chase and learn the ropes.  Most-Preferred Free Zone to Start a Business in Dubai  The quick surge in the growth of UAE’s banking, IT, logistics, commerce, and media industries, among others all across the Emirates, is pretty visible. Thanks to the free zones that have presented a magnificent framework for luring marketing, trade, and investment prospects. At the moment, the country’s expanding private sector is mostly defined by its free zones. Dubai alone boasts more than 30 top-class free zones, comprising 30% of Middle East free zones. And Dubai Internet City (DIC) tops the list when it comes to setting up an IT company in Dubai.  Dubai Internet City  From a mixed bag of commercial spaces to multiple retail options to business setup support, DIC is a treasure chest of all the good things that a business might need to establish and thrive. “Innovation is a group endeavour, not the result of a formula. Participate to advance,” says Dubai Internet City, a tech community housing brilliant minds and businesses, such as Cisco, LinkedIn, Schlumberger, Microsoft, Oracle, Facebook, IBM, Dell, HP, Canon, Siemens, Sony Ericsson and Logica, collaborating to etch their names in history. Infamous as the region’s hub for innovation & technology #WhereMindsClick, DIC, without a doubt, is the best pick for an IT business setup in Dubai for a variety of reasons including:  Home to Fortune 500 companies  50-year tax holiday  foreign ownership overall  Total profit repatriation  Metro Ethernet environment access to top-notch personnel  Exceptional communications infrastructure decked up with 5-star hotels, restaurants, a business centre, a fitness centre, medical security and much more  Strategically located to facilitate logistics functions  Posh areas such as Dubai Marina, JLT, Barsha Heights, JBR and Umm Suqeim are in the vicinity  A range of commercial spaces, facilities, business services and more  A wide range of amenities and facilities to support the growth of technology businesses, including high-speed internet connectivity, business-friendly regulations, and a supportive community of like-minded technology professionals  Bustling with hundreds of IT services companies – Hewlett-Packard MENA FZ-LLC, Hitachi Data Systems Limited, Dell FZ-LLC, Deloitte Technology Consulting Middle East FZ-LLC, IBM Middle East FZ-LLC, Lenovo Global Technology Middle East and Africa FZ-LLC, Aces Solutions FZ-LLC, to name some of the top ones  Affordable commercial and residential space leasing options  Complete with comprehensive infrastructure for companies operating in the technology, media, and telecommunications industries  An array of facilities and services  A spectrum of educational and training programs such as workshops, and networking events to help professionals in the technology industry stay up-to-date with the latest developments in their field.  Overall, DIC is a key player in Dubai’s efforts to establish itself as a global hub for technology, innovation, and entrepreneurship. With its world-class infrastructure and supportive community, DIC provides a thriving environment for technology businesses to grow and succeed.  Dubai International Financial Centre  Best for FinTech,AI and Data Scienece Companies   Dubai Silicon Oasis Dubai Outsource City Most Freezones Support, IT/ITES Businesses  Click to View List of Freezones in Dubai       9 Steps to Start an IT Company in Dubai    Conduct market research Conduct market research: Research the market to identify the demand for the type of software you want to offer, as well as your competition. This will help you understand the needs of your target customers and ensure that there is a demand for your products or services.  Choose a business structure Decide on the type of business structure you want to establish, such as a sole proprietorship, limited liability company (LLC), or free zone company. You can consult with a local lawyer or Dubai business advisor to help you determine the best option for your company.  Name and register your company: Select an appropriate trading name to register your IT business in Dubai with the respective authority. Department of Economic Development (DED) is the competent authority for mainland company registration. You will need to provide information about your business, including its name, location, and type of activity.  Obtain a license Depending on the type of software you want to offer; you may need to obtain a license from the Dubai Creative Clusters Authority (DCCA) or the Dubai Silicon Oasis Authority (DSOA). Get necessary permits and visas Obtain any necessary permits and visas for your employees, including work visas, residency visas, and trade licenses.  Set up your office: Choose a suitable location for your office and set up your physical infrastructure, such as computers, telecommunication systems, and software. Hire employees: Recruit employees, including software developers, designers, and support staff, as needed.  Establish your brand: Develop a brand for your company and create a marketing strategy to promote your software products or services. Launch your software or IT products Pitch your software products or services and start generating revenue.  It’s important to note that the process of starting a software company in Dubai may vary depending on your specific business and circumstances. It is recommended to seek professional advice from a reputed local business consultant or one of the best corporate service providers in Dubai like Tycoon Documents to ensure you are following the procedure in line with the UAE regulations . Documents Required for Software Company Setup in Dubai Mainland  To set up a software company in Dubai, you will need the following documents:  Business plan: This outlines the purpose and goals of your software company,

Dubai
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How to Setup a Business in Dubai:FreeZones,Mainland and Offshore

Business Setup in Dubai All Business Setup. Corporate PRO, VISA Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Company Formation in Dubai: At a Glance Dubai has emerged as a highly desirable destination for businesses worldwide. It has played a pivotal role in the growth of some of the most prominent business firms globally. The federal laws in the United Arab Emirates have created a favorable environment for starting businesses, making Dubai an optimal choice for anyone aspiring to achieve significant success in the business world. 100%Ownership Access to International Markets Huge Tax Benefits Safe and robust governance No physical office requirements The city boasts well-developed and superior infrastructure, offering an ideal atmosphere for businesses to thrive. With regulations that facilitate unlimited business activities, no currency restrictions, the flexibility to operate from any part of the UAE, streamlined processing of employment visas, and no limits on the number of visas, Dubai’s mainland stands out as a preferred location for business setup. Tycoons provide comprehensive services for mainland company formation in Dubai, ensuring a straightforward and efficient setup process. For those preferring greater operational independence and specific incentives, establishing a business in one of Dubai’s 50 free zones is an excellent option. Tycoons’ business setup consultants guide clients through selecting the optimal free zone, obtaining necessary licenses, setting up office space, registering trademarks, and managing accounting services, ensuring a seamless setup process in free zones like Dubai Silicon Oasis and Shams free zone. Entrepreneurs seeking international reach and tax advantages can explore offshore business setup opportunities in Dubai. Tycoons facilitate offshore company formation, providing support across mainland, free zone, and offshore setups. They manage documentation, application processing, and ensure compliance with regulatory requirements, all at competitive costs. The cost of starting a business in Dubai varies based on factors such as company type, license type, visa requirements, and location. Tycoons offer affordable business setup packages tailored for both free zones and mainland areas, addressing needs from office rentals to visa processing and beyond. Tycoons’ business setup services in Dubai encompass comprehensive support, including licensing, bank account opening, trademark registration, and more. Their expertise ensures smooth handling of the intricate procedures involved in obtaining business licenses and visas, with meticulous attention to detail to avoid delays or rejections. Whether it’s mainland, free zone, or offshore business setup, Tycoons Business Setup Consultants in Dubai deliver impeccable services, making the dream of establishing a business in the UAE a reality. Their commitment to client success and efficient service delivery makes them a trusted partner for businesses navigating the complexities of starting operations in Dubai.     Mainland Freezone Offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. Things You Should Know TO SETUP BUSINESS IN DUBAI Steps Requirements Documents Steps   Confirm the location, where you want to establish the business. Decide the jurisdiction, i.e. Mainland, Free Zone, or Offshore. Get a reliable local sponsor.( If you need,100% Ownership allowed) Fix a trading name and obtain approval. Formulate the legal structure of the business. Obtain additional approvals from ministries and departments, as required. Prepare all the documents necessary for the license. Apply in the defined format for a business license. Apply for Visa and Emirate ID  Apply for Corporate Bank Account            Requirements   A commercial License is necessary for carrying out commercial activities including real estate, trading, construction business etcetera. An industrial license authorizes you to mold, manufacture, assemble, and other production processes. Professionals such as artisans, and tutors need to possess a professional license to establish a professional business in Abu Dhabi. A tourism license is required for undertaking travel and tourism businesses. This type of license is further subdivided according to the area of operation. The individuals, who are envisioning to use their intellect in business must obtain an occupational license     Documents  Passport copies Visa copies NOC Proof of address MoA and AoA Trade name reservation Passport sized photos Relevant permits and approvals   Dubai Freezone List Freezone Dubai Maritime City Dubai Commercity Dubai South Dubai World Trade Centre Dubai Design District Dubai Science Park International Humanitarian City Dubai Multi Commodities Centre Dubai Outsource City Dubai Silicon Oasis Dubai International Financial Centre Dubai Internet City Meydan Free Zone Dubai Healthcare City Dubai International Academic City Dubai Production City Dubai Studio City Dubai Media City Dubai Financial Services Authority (DFSA) Gold & Diamond Park DAFZ INDUSTRIAL PARK DUBAI AIRPORT FREEZONE Dubai Knowledge Park Dubai Auto Zone (DAZ) Jebel Ali Free Zone Expo City Dubai Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company

Dubai, News
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How to Start an Business in Sharjah

Business Setup in Sharjah #BeABusinessTycoon Apply Online Contact us How to Start an Business in Sharjah ?,  Here’s Your Guide     Business Setup in Sharjah offers a diverse range of choices for investors seeking to establish themselves in the Emirate, including licensing authorities and free zones.From adaptable alternatives for first-time start-ups to more intricate frameworks for larger enterprises, Sharjah accommodates to all desires and ambitions. Sharjah is located only 20 minutes from Dubai, and well-connected by public transport. Sharjah has its own international airport as well as three seaports, and in addition hosts a third of all manufacturing activity in the United Arab Emirates.   What are the Types of Business Entities in Sharjah? Sharjah is one of the tax haven emirates of the UAE and business setup in Sharjah mainland or freezone is beneficial for foreigners. The type of business entities in Sharjah include: Limited Liability Company: This type of business requires partners not more than 50, but less than 2. It is the most common type among investors as the liability of the partner is limited to the investment in the company Partnership Company: This includes partnering between 2 or more individuals, where liability is limited to the extent of their shares to the company’s liabilities. Local Service Agent: This type of company is generally managed by a single person. And if the individual does not have a UAE or GCC national, then it must be backed by a local sponsor, who is a UAE national. Public/Private Shareholding Company: A public shareholding company has the feature where the share capital is equally divided into tradable shares. A private shareholding company is subject to rules of public joint stock companies. 3 Types of Business Jurisdictions in UAE In the United Arab Emirates, a company can be set up in three jurisdictions: Freezone, Mainland, and Offshore. The companies established in these jurisdictions are supposed to comply with the predetermined set of rules and regulations. Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. List of Free Zones in Sharjah Dubai has Most Freezones in UAE,For Freezones in Dubai click here. FREEZONE Sharjah Publishing City Hamriyah Free Zone Sharjah Media City – Shams Sharjah Airport International Free Zone The Sharjah Research, Technology, and Innovation Park Sharjah Oasis for Technology and Innovation (SOTI) Sharjah Healthcare City Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in  UAE. Can foreign nationals register a company in UAE ? Yes, foreign nationals can easily register a business in UAE. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAE? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Abu Dhabi
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UAE declares new 10-year Blue visa

The UAE has reported a drawn-out residency for climate advocates. Called ‘Blue Residency’, the 10-year visa will be allowed to people who have made “remarkable commitments and endeavors” in safeguarding the climate. This covers sustainability initiatives both inside and outside the UAE. The Blue Residency will be allowed to allies of natural activity, including individuals from worldwide organizations, affiliations and non-legislative associations; worldwide honor champs; what’s more “recognized” activists and analysts in natural work. Eligible individuals have been invited to submit their applications through the Federal Authority for Identity, Citizenship, Customs, and Port Security. Relevant authorities can also nominate individuals for long-term residency. For more details call +971 47181918

Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, Umm Al Quwain

Dubai uses a new platform to reduce the 30-day residency visa procedure to five days.

Thanks to the new Work Bundle platform, which was released on Wednesday, the processing time to complete all required paperwork to get work permits and resident visas has been shortened from nearly one month to five days. According to authorities at a news briefing, the integrated approach will also cut down on the number of documents required from 16 to five and the frequency of visits to service centers from 7 to 2. The Ministry of Human Resources and Emiratization (Mohre), the Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP), the Dubai Health Authority (DHA), the Department of Economy and Tourism, and the General Directorate of Residency and Foreigners Affairs (GDRFA) are just a few of the government entities whose procedures are integrated into Work Bundle. Prior to its implementation in other emirates, it is initially launched in Dubai. The Work Bundle platform, according to Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President, Prime Minister, and ruler of Dubai, will “facilitate, simplify, and shorten the procedures for residency and work (permits) in the country.” “62 million working days that were previously used for the renewal of residency and employment contracts inside government frameworks are expected to be recovered via the new Work Bundle platform. It is anticipated that this project will reduce 25 million procedures annually, which will result in significant savings for the public and private sectors, he continued. He gave orders to government agencies and ministries in the United Arab Emirates last month to eliminate at least 2,000 procedures and slash processing times in half within a year. Which services fall within the Work Bundle’s integration? All employment services, including renewal, cancellation, medical examination, and fingerprinting, can now be completed on a single platform. The platform is accessible on the “Invest in Dubai” website and mobile app during the initial phase. After then, it will be made available on the “Work in UAE” website as well as several other government digital platforms. Which government agencies are using the Work Bundle platform together? The entities are DHA, Mohre, ICP, and GDRFA. The Dubai Department of Economy and Tourism (DET) and Digital Dubai, which provide the digital services and infrastructure connecting government agencies, are supporting the project. How might Work Bundle help workers who are based overseas? Completing the single application and granting the employee a work permit are the first steps in hiring a new foreign worker. After that, the worker needs to finish the residence requirements, which include getting a medical checkup and getting an Emirates ID card. In the meantime, the owner of the business must complete the unified application for the renewal service. The employee then completes the Emirates ID issuance process and the medical checkup.

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UAE: How foreign nationals can apply for a residency visa and birth certificate for newborns.

The government facilitates foreigners’ registration of their children’s births within the nation. Everything you need to know about the steps involved in registering a newborn’s birth, applying for their residency visa, and obtaining their Emirates ID is provided here. To avoid penalties, parents must register their kid and get the required paperwork within 120 days after the child’s birth. Birth certificate The birth certificate is the first document you must get for your baby. The UAE government website states that citizens have up to 30 days to register a child’s birth there. The child will be granted the father’s nationality if the mother and father have different nationalities. The following documents to get a birth certificate: All birth certificates must be certified by the Ministry of Foreign Affairs (Mofa) and the Ministry of Health and Prevention (Mohap) for foreign nationals. The Dubai Health Authority (DHA) or the Department of Health – Abu Dhabi (Doh) can also stamp your birth certificate. These stamps are equivalent to attestation by Mohap. Residence visa After your child is born, you have 120 days to obtain their passport, Emirates ID, and residency visa for the UAE. You have to go to the embassy of your nation in the United Arab Emirates to apply for a passport. The procedure for sponsoring your child’s UAE residency visa is the same for newborns. Prior to applying, there are a few sponsorship requirements that must be met. You need to have a valid resident visa first. Additionally, you need to make at least Dh4,000 per month, or Dh3,000 plus housing. If you are the mother, the ICP must provide its approval before you can sponsor your child.

Abu Dhabi, Ajman, Dubai, Fujairah, News, Ras Al Khaimah, Sharjah, Umm Al Quwain

A Dubai based company manager who faked Emiratization was fined Dh100,000.

The court in Dubai punished a manager of a company Dh100,000 for cheating the Nafis program. The manager was charged with breaking Emiratization regulations, and the Dubai Public Prosecution brought the matter before the judge. The manager of the company was charged with hiring two Emirati women and misusing two work licenses for purposes other than those for which they were issued. The facility attempted to be eligible for government assistance under the Nafis program by fabricating contracts to falsely claim compliance with Emiratization regulations. The women only had four months of employment at the private company, and their primary goal there was to get the Dh5,000 monthly government stipend. The manager will be penalized Dh100,000 by the court for the charge brought against it. The number of workers multiplied by the fine will be applied. Additionally, a notice was sent to the two employees asking them to refund Dh20,000. A recent investigation by the Ministry of Human Resources revealed that 1,077 private enterprises had been impersonating Emiratization in the United Arab Emirates since the latter part of 2022. The authorities punished these companies for recruiting 1,818 people who had broken the law in an effort to outhire competitors by employing Emiratis without authorization. When it is established that a UAE national works in a nominal position with no real responsibilities to meet the establishment’s required Emiratization targets, or when an Emirati is rehired in the same establishment to evade data and reap the relevant benefits of Emiratization, it is considered fake Emiratization. Penalties for violating law The severity of the penalties imposed on companies that violate the law ranges from Dh20,000 to Dh100,000 each instance. The violation must be severed in order for it to be referred to the public prosecution. The MoHRE reaffirmed that the rules of the Nafis program and decisions pertaining to Emiratization are clearly broken by false Emiratization. The Ministry’s smart application or the MoHRE call center at 600590000 can be used to report any breaches pertaining to emiratization.

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