Before you can decide if you want to establish a company within the Silicon Oasis Free Zone (Dubai), there are several things that you should look at. These include registration, costs associated with it, and licensing. Also, think about how you intend to diversify your company and what support services to expect.
The cost of licensing and registering a business in Dubai Silicon Oasis Free Zone is dependent on the type of business you intend to set up. There are many legal entities to choose from. You can also create an Entrepreneurial Company License (FZCO) and a Free Zone Company.
Establishing a business in Dubai Silicon Oasis costs about the same as other free zones within the region. It is essential to plan your budget before you can start. Consult with a local agent, who may be able to offer tailored packages to fit your specific requirements.
Once you have established the legal entity of your choice, you can submit the documents. There are four main areas where you can set up your company. These are the Connect Zone, Administrative Zone, Digital Park, Digital Park, or Lake Park. Your net worth and income will determine the type of license you will get.
It is crucial to get your business plan verified before you send it. This is to confirm that you can legally do business in the country. It can be done remotely and on-site.
Included in business planning should be the activities that the company intends. It is important to have a unique business identity that reflects your business activities.
It is also necessary to submit proof of your company’s address. This must be submitted within three months of the company’s incorporation. Alternatively, your business license can be issued in hardcopy.
Once you have all the required documentation, the process to form a Dubai Silicon Oasis business can be started. You will need to complete an application form. They will review your documents and issue an electronically signed agreement.
For assistance in setting up your company in the area, contact a local agent. They can also help you find out about any incentives that are available.
Business support services
There are many business support options available for those who want to start a Dubai company. Although the UAE government is welcoming new businesses, setting up your company takes some time and effort. These business support options can help ensure that your new business is professionally and legally ready to prosper.
First, make sure the company is compliant in Dubai Silicon Oasis laws before you set up your business. Also, you’ll need a detailed plan for your business to explain the plans and goals of the new company. This plan will also include any future activities.
Dubai Silicon Oasis can be one of your best options for setting up a company. It boasts an excellent infrastructure, including office space, warehouses, and residential amenities. It is convenient to major highways or airports.
There are many types of licenses you can get in Dubai Silicon Oasis. They include Trade Licenses, which allow you to export and/or import products, and Industrial Licenses, which permit you to produce products and process raw materials. There are also Service Licenses, which allow you to offer certain services.
Dubai Silicon Oasis has a wide range of services for business support, from venture capital funding to startup incubation. Assistance is available for everything, from visas to customs clearing.
The cost of setting up a business in Dubai Silicon Oasis will depend on its size. For example, an individual company with few employees can start up in Dubai Silicon Oasis by paying around 20,000 EED. For larger companies with many employees, however, the cost would be higher.
Dubai’s tax-free environment is one of its greatest advantages. In Dubai there is no corporate income tax, so you can repatriate any earnings you make.
Hire a business consultant to help you with your visa application. A professional with experience can provide invaluable information on current economic trends and other relevant topics.
An exciting opportunity for entrepreneurs is to open a Dubai Silicon Oasis Free Zone company. An array of services can help you get your business started.
You must first choose a legal structure to start the process of setting up a Dubai Silicon Oasis business. Depending upon the nature of your business you can choose among FZCO and FZE entities.
The next step is to obtain the proper licenses and paperwork once you have decided on a legal entity. You should ensure that the license issued to you is suitable for the type and purpose of the business.
You will need an industrial license if you have a manufacturing or exporting business. An industrial license permits you to import, process, and package raw materials in Dubai. You can also export, distribute, or manufacture the finished product.
The acquisition of office space is an additional step towards setting up a company at Dubai Silicon Oasis. You can either rent an apartment in a DSOA office or make your own. Both options have many benefits, but each one has its own advantages.
Dubai Silicon Oasis office space is very affordable. A single office can cost anywhere from AED20,000-30,000.
You’ll need to submit an application and pay the fees to get a license for the business. During the registration process, you’ll need to provide information such as your company’s legal address, name, and CV. It is necessary to verify your business model.
It can be relatively easy to get your company started in Dubai Silicon Oasis. There are many options available for workspace options. You’ll also have access to the following amenities: parking, preinstalled Internet, voice and data connections, and parking. You can hire a company registration specialist to help you make your plans come to fruition.
With a well-planned business plan and a local agent as your guide, you can quickly start a new Dubai business. In addition, you will have the support and convenience offered by a diverse community, including a swimming pool and many shops and restaurants.
Diversification strategy in economics
Dubai’s economy has made substantial progress toward diversification, despite relying on oil for nearly 90% of its income. A number of policies have been implemented to ease the country’s dependence on oil. A demand-oriented approach has been adopted by the government to economic development.
The International Monetary Fund conducted a study and found that countries’ economic diversification was associated with sustained economic growth. Many countries that depend on petroleum for most of their income are struggling to diversify.
The UAE has an exceptional position, as it has been able to diversify its economy even with falling oil prices. It has made a significant investment in economic diversification.
The UAE is not yet fully diversifying its economy but the Government remains optimistic about the future. It is now leveraging its free network to attract foreign investment. Additionally, the government encourages venture capital and crowdfunding as well crowdfunding for SMEs.
But, private developers have some reservations. Private developers have criticized the supply-driven method of economic development. In light of this, the government has been encouraged to look at alternative funding sources for diversifying its economy.
The growth in the tourism industry has helped the country diversify its economy. The UAE will gain more attention as a destination for tourists with the World Cup. During this six-month event, 25 million tourists will be visiting the UAE.