In a place where taking chances is discouraged, the UAE provides a fertile market for ambitious businesspeople who are prepared to go above and beyond to break the mould and make it through the first year of operation.
A business’s beginning is difficult. Some of us only too well, but we all know this.
I’d want to take a time to highlight some of the additional advantages and benefits of establishing up right here in the centre of the international business world, in addition to the frequently discussed advantages of launching your creative business idea in a setting like the UAE.
We are aware of the top-notch infrastructure, frameworks for supporting businesses, and beneficial tax structures. On the strength of its successful handling of the epidemic and audacious switch to a four-day workweek, more global companies are considering the UAE as a focal point for their operations.
The UAE has always been hospitable, open, and accommodating, in contrast to many other countries that now have abrasive anti-immigration policies in place. More visa kinds than ever before are available, each with a unique set of benefits.
Current visa categories include the three-year firm work visa, the ten-year investment or partnership visa, the property ownership visa, and the Golden Visa, which is given to investors or those who have made remarkable contributions to or impacts on the UAE.
Following the massive success of Expo 2020, the area is now being transformed into a ground-breaking business, cultural, and residential district — a futuristic city-within-a-city — where startups can take advantage of a variety of benefits like free office space, straightforward visas, and tax breaks.
Expo Metropolis Dubai already has a startup innovation programme in place and describes itself as a green, futuristic, tech-enabled city that is driven by sustainability, innovation, education, and entertainment.
In addition, with the support of cutting-edge IT infrastructure, District 2020 will actively promote access to accelerator and incubator programmes, funding opportunities, funding, and talent.
There are only a handful of places on earth where so many people from so many different nations coexist together. The UAE has established itself as an ideal testing ground for new goods and services, boasting 0% unemployment and a population that is young, educated, and wealthy. This compact, diverse setting is conducive to product and service testing with little outlay needed, making business goals a reality.
According to BBC Travel, Dubai is one of the top 10 most cosmopolitan cities in the world, with more than 200 nationalities living side by side there alone. By 2030, according to pundits, Dubai is likely to rank among the cities with the greatest diversity of cultures.
According to the Economic Times, 10,000 SMEs have grown as a result of this melting pot and Dubai’s long history as a worldwide business hub.
According to data from the Dubai Chamber, there are more than 250 scaleups, and they have raised $5.4 billion in venture capital. It should come as no surprise that efforts are being made to develop, support, and draw in 20 unicorn startups—startups with a minimum valuation of $1 billion—by 2031.
Investors will always be attracted to places with stable economies and vibrant business environments, of course. Furthermore, the area has a long history of international trade, from the Silk Road merchants of old to the modern-day bitcoin apps.
From corporate investors to astute people who live here to take advantage of the lax tax laws and high incomes, the UAE has a solid foundation of wealth. Startups have a fantastic potential to find investors of all types and sizes if they have a brilliant idea and a strong business strategy.
Emirates Angels is one such investment group. It was established in 2020 with the goal of significantly impacting the country’s early-stage investment environment through its active investor network, with a concentration on tech-based entrepreneurs. It provides money, events, networking opportunities, and education.