You need to be aware of the following things if you plan on setting up a business within the Silicon Oasis Free Zone in Dubai. These include the cost to register your company, the licensing costs, and the workstation package. You’ll also need to think about diversifying your business and the support services that you can expect.
License and registration costs for business
The type of business that you are registering and licensing in Dubai Silicon Oasis Free Zone will affect the cost. There are many legal entities that you have the option to choose from. You could create an Entrepreneurial business license or a Free Zone Company (FZCO).
The costs of setting up a company at Dubai Silicon Oasis are comparable to those in other regions. But you should set aside money before you get started. Talk to a local agent about customizing packages to meet your specific needs.
Once you have selected the legal entity to be your company, you can start submitting the documents. One of the four main areas in the free zone can be where your company is located. These are the Administrative Zone; the Connect Zone; the Digital Park; and the Lake Park. A fee will be payable depending on what type of license is being granted.
Verification is necessary when you submit your business plan or other documentation. This is done to ensure you are legally allowed to operate in the country. You can either do it remotely, or you can do it on-site.
Your business plan should include all activities your company will be performing. Also, you should choose a unique business title that represents your business activities.
Additionally, your proof of address must be submitted. This document should be dated within three years of the date your company registered. A hard copy can be obtained as well.
Once you have all the necessary documentation, it is possible to begin the process of setting up a company at Dubai Silicon Oasis. Fill out an application form to submit to the authority. They will review the documents, and then issue an e-agreement.
To establish a business in the Free Zone, contact a local agent. They can also inform you about the available incentives.
Support for businesses
The business support services are available to help you set up a Dubai-based company. Although the UAE government is open to new business, it does require some attention and diligence when setting up a company. These business support programs can help you ensure that your company is legally and professionally prepared to succeed.
In order to set up a company at Dubai Silicon Oasis you must first ensure compliance with all laws. In order to plan the future business, you’ll need to prepare a detailed and comprehensive business plan. This plan should include all future activities.
Dubai Silicon Oasis has been voted one of the top places in the world to open a business. The area boasts a world-class infrastructure with office space, warehouses, residential facilities, and a great deal of infrastructure. It is conveniently located near major highways as well as airports.
Dubai Silicon Oasis allows you to obtain a number of licenses. You can get Trade Licenses to import and export products. Industrial Licenses are for manufacturing products and processing materials. These licenses allow you to provide certain services.
Dubai Silicon Oasis offers business support services including incubation, venture capital funding, and startup incubation. There are many services available to assist you with visas, customs clearance, and everything in between.
The cost to set up a business at Dubai Silicon Oasis depends on the size of the company. For example, a small company with just a few people can establish a business in Dubai Silicon Oasis for around 20,000 AED. However, a bigger company with many employees will need to pay more.
Dubai has a tax-free environment which is one of the advantages of setting up your company. In Dubai, unlike other countries there is no corporate income taxes and any profits can be repatriated.
By hiring a consultant for your business, you can receive assistance with your visa application as well as other issues. An experienced professional is a great resource for information about current economic conditions and other relevant issues.
It is possible to start a business in Dubai Silicon Oasis Free Zone. A wide variety of services are available to you to help you achieve your business goals.
Selecting a legal entity is the first step to setting up a company at Dubai Silicon Oasis. You can choose from FZCO (FZE), FZE, or DED, depending on the nature and purpose of your business.
After choosing a legal entity, it is time to apply for the required licenses. You need to make sure the license you receive fits the type of business that you want to operate.
A license for industrial manufacturing is necessary if your business involves exporting and manufacturing. An industrial license in Dubai allows you to import raw materials and process them. You can also package them. The finished product can be manufactured, distributed, or exported with an industrial license in Dubai.
An additional step in setting up your company in Dubai Silicon Oasis is to purchase office space. You can rent an office in a DSOA location or your own property. Both options offer a variety of benefits, but each has its own advantages.
Dubai Silicon Oasis has affordable office space. A single office, depending on the number of people employed, can be priced between AED 22,000 and AED 35,000.
A business license application must be completed and paid for. During registration, you will need to include the company’s legal name, address, and resume. You will need this information to help us evaluate your business model.
It’s easy to establish your company in Dubai Silicon Oasis. There are many choices for workspaces and you can access a variety of amenities like pre-installed Internet and voice connections. To help you get your company registered, you can hire a consultant.
With a budget that is well-planned and a local representative to assist you, it’s easy to establish a new business in Dubai. The community offers a range of shops, restaurants, and modern business amenities.
Strategy for economic diversification
Dubai’s economy has made considerable progress in diversification, despite being dependent on oil for 90% of its GDP. There are a number of policies and initiatives that support the economy’s shift away from dependency on oil. Additionally, the government has adopted a demand-oriented approach to economic development.
Diversification serves the main purpose of decreasing dependence on volatile crude oil export revenues. This is achieved by expanding the economic sector. A diverse economy is more resilient against volatility in oil prices. Malaysia, Indonesia, Mexico, and Mexico are examples of countries that have implemented effective diversification plans. These countries have supported economic development by focusing on skills and commercial diplomacy.
The International Monetary Fund’s (IMF), the study found that economic diversification in a country is linked to sustainable economic development. Diversification is difficult for several countries that rely on petroleum for the bulk of their economic output.
The UAE is unique in that it has managed to diversify its economy despite falling oil prices. It has made a substantial commitment to economic diversity, including investing in various non-energy sectors such as technology, real property, education, and health.
While the UAE hasn’t yet achieved full diversification, its Government remains optimistic about its future. It is looking to leverage its free zones network to attract international investments. Additionally, the government has promoted venture capital, crowdfunding, as well as crowdfunding for SMEs.
There are still some reservations among private developers. The private sector has condemned the supply-driven approach to economic development. Private sector critics have urged the country to seek other funding sources to diversify their economy.