The UAE’s Emerging Tech Environment
UAE is considered to be one of the fastest developing start-up hubs around the world. With such increased competition from varied sectors, the country is gaining immense global interest mainly from techpreneurs entrepreneurs who are keen in investing in the extraordinary infrastructures that are built by the UAE government.
With the increase in technological capabilities and enhanced accessibility through innovative products, businesses today are dealing with intense pressure since they need to constantly updated with technology related news and information.
Some research conducted during the year 2016 indicated that last 2016, the number of private start- up businesses have increased by 45%, and since then UAE has continued to grown tremendously thanks to the initiatives undertaken by the government with a strong focus on innovation.
Some of the most major emerging sectors include AI or Artificial Intelligence, VR or Virtual reality, E-Commerce and Fintech.
In addition to this, Dubai is acclaimed to be the world’s most future- forward city.
They earned this title is was bestowed mainly due because of their dedication to the steady implementation of creative and technologically-friendly ideas that resulted in an increase in the economic growth of the country. This also has also led to a boost in their diversification and an increase in the general public happiness and satisfaction.
While Dubai is being regarded as the ‘Business Hub’ of UAE, it is only now that techpreneurs influence the development of the country with their large-scale tech-corporation ventures.
UAE free zones provide better tax management and a friendly atmosphere for businesses to start up their new venture. They have since numerous free zones have become an attractive place for a multitude of SMEs, free zones are now essential thriving hubs for start ups.
The free zones in UAE provide a friendlier regulatory and tax environment for start ups and for SMEs. Free zones also offer benefits such as 100% ownership of your company, 0% corporate and personal tax, and 100% gain of capital or company profits. Moreover, some of the companies do not have to rent an office space and they can have multiple UAE visas. Also given the attractive regulatory system and financial environment, many of the free zones have become an essential hub for start ups. Several activities such as E-Commerce and Tech-related facilities such as IT consulting, software development, and sales can be established in these free zones.
Above all, this could be one of the most reasonable options in case a company is planning to widen their business or if an entrepreneur intends to establish his company in UAE.
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