Dubai is currently positioning itself as the preferred destination for international digital investment and global tech talent. The Emirates aims to attract software development professionals globally by offering 100,000 Golden Visas to exceptional computer programming talent, presenting a favorable environment for starting a software company in Dubai.
Omar Sultan Al Olama, the Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy, stated the UAE’s commitment to unlocking the full potential of the digital economy. The country has experienced rapid growth in this sector, which has outpaced global GDP growth over the past two decades. The UAE is actively involving relevant stakeholders in building a roadmap to stimulate digital industries and promote innovation and business friendliness.
The Evolution of Software as a Service (SaaS) has significantly impacted the IT industry, experiencing substantial growth in recent years, partly accelerated by the pandemic. The cost-effectiveness and time-saving advantages of cloud-based services have positioned SaaS as a valuable replacement for traditional in-house IT services.
Starting a software company in Dubai is facilitated by the UAE’s status as the most competitive country in the Arab world, as per the 2022 IMD World Digital Competitiveness Ranking. The government has streamlined the process for entrepreneurs to establish companies in Dubai.
To initiate a software company in Dubai, entrepreneurs can follow these steps:
Choosing the Jurisdiction: Dubai and the UAE offer business setup options in the mainland and various industry-specific free zones. Depending on the nature of the business and software activities, entrepreneurs can select an appropriate location, such as Dubai Internet City, Dubai Silicon Oasis, Dubai Knowledge Park, or Dubai Media City.
Trade Name Registration: Entrepreneurs need to register a legal trade name for the software company, adhering to rules set by the Department of Economic Development in Dubai.
Legal Type of the Company: The type of license depends on the business activities. The Department of Economic Development administers the software company license in Dubai, allowing for 100% business ownership and sole proprietorship.
Visa Application: Business owners require an investor visa for residency in Dubai. Professional services can assist in handling the visa application process, including dealing with government agencies and ensuring all documentation is in order.
To obtain a software business license in Dubai, entrepreneurs should follow these steps:
Select the company trade name.
Submit documents for proof of identity and residence for all shareholders/owners.
Submit documents for company incorporation.
Finalize the location for the office.
The Dubai Department of Economic Development will issue the software business license.
Collect the license within 2-3 working days.
Open a corporate bank account in the UAE.
The cost of starting a software company in Dubai varies based on factors such as location, legal structure, and the number of shareholders. The initial cost can start from around AED 12,900*, with potential increases based on additional factors like workforce size and premises requirements, reaching up to AED 50,000.
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