The growth of various industries has led to many international investors coming to the UAE. The Internet consulting business is among such a thriving industry. Since Dubai as a primacy center for tech start-ups, the Internet consulting sector is becoming one of the Middle East's most crucial development businesses.
It is promoted by the government of Dubai to streamline the emphasis on technology-oriented lifestyle, where creativity churns Dubai to its best path. According to the Dubai Chamber of Commerce, the Dubai tech market speculated to hit AED 22 billion by 2019.
It is the emirate status – manufactured by Forbes – as the next major tech innovation center that has captured the attention of investors and entrepreneurs from all over the world.
There are many other factors also considered: Dubai's favorable tax and customs rates for one. With approximately two billion people living within a four-hour flight of the bustling emirate, Dubai will serve as an ideal forum to trade with the rapidly growing Middle Eastern, Asian, and African markets.
So if you're all set to get your internet consultancy business up and running in Dubai, below is all you need to know to set up.
Where to Set Up Internet Consultancy Business in Dubai?
With different options for setting up a business in Dubai, there are two ways in to set up an Internet consultancy business in Dubai:
Free Zone Company Formation
With various forms of having Internet consultancy founded in Dubai, the apparent advantages of setting up a free zone consultancy are:
- 0 percent of corporate and personal tax
- 100 percent corporate ownership
- 100 percent capital and income repatriation
With more than 30 free zones to select from – Dubai Technology Park (DKP), Dubai Internet City (DIC), and Dubai Silicon Oasis (DSOA) are among the first to welcome a tech consultancy firm.
Mainland Company Formation
An Internet consultancy can also set up on the Dubai mainland. A significant constraint to establishing a business, a free zone company is not allowed to trade outside that free zone. It must select a local distributor to provide on-shore products or services. Under Federal Law, having no less than 51 percent of regional equity is mandatory for a Dubai commercial firm.
Why Set Up an Internet Consultancy Business in Dubai?
With the arrival of Expo 2020, surrounding businesses are investing enormous figures in technology infrastructure to connect with the anticipated 25 million tourists attracted to the city. So much so that before and during the case, the local tech industry is expected to grow by an estimated 2 percent. It is the fact that Dubai is such an important business center that makes it the perfect place to start your Internet consultancy company.
Below are a few more reasons for you to set up an Internet consultancy company in Dubai.
Quick and Easy Set- up
Setting your Internet company in Dubai is lucrative, particularly if you are establishing a free zone. Most free zones simply need an application to get started along with color copies of shareholder and director passports – you may need a business plan. You will obtain your Internet consultancy license in just two working days, given all is in order, and it is affordable, with licenses starting from only AED 12,500.
Set Up as a Freelancer
You do have the option to set up as a freelancer if you work alone and do not want to start a new free zone enterprise or mainland business. You may apply for a freelance permit either directly from the Economic Development Department (DED) or one of the free zones in Dubai, such as DKP. Although neither path is especially challenging, the free zone route is possibly the easiest. The application procedure is secure, and your license is usually issued in 7-10 days.
Set-Up with Multiple Shareholders
Though getting your Internet consultancy set up in Dubai is easy on your own, that's not to say you need to. The company license for Internet consulting is also celebrated for larger companies as it requires several members to be set up.
Plenty of Visa Options
Internet consulting business licenses are primarily popular with small businesses since several visas can be acquired without participating in physical office space. Given that policies vary for every free zone, wisely choose your cards. Set up in an open region like DKP, and your workers can apply for up to six visas. However, it depends on the size of your office-the the standard thumb rule is 100 sq-Visa office ft.
As well as being eligible to apply for visas for you and your family, you can also sponsor your dependants for their visas as a business owner in the UAE. If you need a visa for a partner, infant, maid or driver, the procedure is straightforward: entry permit, adjustment of the status, medical fitness check, registration of the Emirates ID and visa stamping. Either, because this is such a vital part of the process, it's good to get advice from a professional in setting up UAE businesses to ensure that both you and those you are hoping to sponsor meet the entry requirements before starting an approval process.
No Paid Upfront Share Capital
Another aspect that makes it so affordable to get your Internet consultancy founded in Dubai is the requirement for upfront share capital. If you're starting in a free zone or on the mainland, you're not expected to post a paid-up share.
Simple to Arrange your Corporate Bank Account
You will be able to manage your corporate bank account as soon as you have your Internet consultancy services license in the UAE-and the application process is both quick and precise. If you have set up your company in a free zone, the local authorities are on hand to advise on the best bank to suit your needs – and may even arrange branch meetings for you.
Getting an Internet Consultancy Business License in Dubai
Business set up in Dubai is gratifying. Many economic activities do not depend on either the legal form or the type of activity. We have other laws that are decided by DED or the body that regulates the activities. The documents to be submitted for the commercial license to be given with the Department of Economic Development in Dubai and the Federal Ministry of Economy of the UAE shall be:
- A request form in which the business name is indicated in English and Arabic.
- Initial leasing arrangement for a registered company address.
- Authorization is given by the Dubai Municipal Building Department to allow the use of the office space as an address for the business.
- Evidence of payment of the Trade Licensing Fee.
The Department of Economic Development will supply the commercial license for the business Dubai based on these records.
Commercial Technology and Telecom license
It involves offering technical resources and information technology consultancies and software such as email, internet, and data warehousing to improve administrative and technological efficiency in various organizations. In addition to providing consultancies, recommending the correct software, and conducting surveys and studies to assess the appropriate technology compatible with its purpose, these organizations are not authorized to sell or manufacture any of the software or goods relevant to the technology.
To all you know, the technology industry in Dubai is really on the rise, more than anywhere outside of Silicon Valley. Government-led aid for start-ups as part of the well-appreciated Dubai plans to diversify its economy away from oil, alongside a host of start-up incubators, the Dubai tech industry top AED 22bn is expected to be helping by 2019, according to the Dubai Chamber. To set up internet consulting business from scratch, whether it is - registration, application for a license, the best place to select and obtain accounting and tax-paying advice for office space- Contact us at Commitbiz for any question and assistance for setting up internet consulting company in Dubai.