Dubai Chamber of Digital Economy Releases Comprehensive Guide for Startups7 min read
- 18.10.2023
- Posted by: Derya Bandak
- Categories: Dubai, Tax
To further boost its digital economy and solidify its position as a global hub for entrepreneurs, the Dubai Chamber of Digital Economy has unveiled an invaluable resource for startups. The guide, titled ‘Building Your Business in a Dynamic City: The Entrepreneur’s Guide to Business Setup in Dubai,’ is a comprehensive manual designed to simplify setting up a business in Dubai.
As Dubai gears up to host Expand North Star, the world’s largest event for startups, the release of this guide couldn’t be better timed. This landmark gathering is expected to bring together the global tech community and connect venture capitalists with unicorns, scale-ups, and startups, further elevating Dubai’s status as a leading center for global digital capital.
The United Arab Emirates (UAE) has set an ambitious target of doubling the digital economy’s contribution to the national GDP to 19.4% within the next decade, aiming to reach a value of US$140 billion by 2031. In line with this vision, the Dubai Chamber of Digital Economy has taken the initiative to empower aspiring entrepreneurs with the insights they need to succeed in the emirate’s dynamic digital ecosystem.
Free Guide, Invaluable Information
The guide, available for free download, is the result of extensive research and feedback from the business community. It addresses the need for a user-friendly reference tool for ambitious innovators seeking to become part of Dubai’s success story.
Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, stressed the importance of understanding the local business ecosystem, legal and regulatory frameworks, and the broader economic landscape. He stated, “Ambition alone is not enough to establish a startup. It requires a thorough understanding of the local business ecosystem, legal and regulatory frameworks, and wider economic landscape. The release of this guide represents an advanced step in our journey to help entrepreneurs from across the globe successfully set up their businesses and leverage the exciting opportunities emerging in Dubai’s digital economy.”
What's Inside the Guide?
The guide is a comprehensive resource that covers a wide range of topics vital to startup success in Dubai. It begins by highlighting key facts and statistics about Dubai’s vibrant economy, future strategies, diverse talent pool, and fastest-growing sectors.
For entrepreneurs looking for support and guidance, the guide provides information about key ecosystem enablers such as accelerators and incubators. It also offers a visual guide to major investors across various stages, from pre-seed to growth.
For those wondering how to navigate the financial aspects of setting up a business in Dubai, the publication offers valuable insights on opening a business account in the emirate. It includes a list of startup-friendly local banks.
One of the essential aspects of doing business in Dubai is understanding its free zones. The guide provides a detailed map of the 28 tax-free business zones, outlines various business structures, and explains different visa types.
Finally, the guide concludes with a series of comprehensive one-page set-up guides for key digital economy sectors, including Fintech, Digital Assets, Metaverse & Web3, AI, Cybersecurity, Software & SaaS, Healthtech, 3D printing, and Edtech. These sector-specific guides feature step-by-step setup instructions, information about relevant accelerators, incubators, and sandboxes, important regulations entrepreneurs should know, and a list of conferences and events within each sector.
This guide is poised to be a game-changer for entrepreneurs eyeing the dynamic and promising landscape of Dubai’s digital economy. It not only simplifies the setup process but also provides valuable insights and resources, making Dubai an even more attractive destination for startups and innovators from around the world.
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