UAE is a preferred destination for business set up for all the upcoming entrepreneurs. But what makes UAE the hot favourite for youth to be a desired destination for their dreams as future entrepreneurs is a combination of various factors such as policy, finance, education, entrepreneurial environment and infrastructure. All these together give an efficient and effective path for business set up to each individual. As per various studies UAE has been ranked 19th among 138 countries in the list of Global entrepreneurship Index.
Here are 5 reasons that make UAE an Entrepreneurial hub.
UAE is positioned as “preferred global investment destination” by the UAE government in line with the UAE Vision 2021. Launched in 2010, the Vision 2021 aims for the Socio-economic development of the UAE by emphasizing on knowledge based economy.
With all government procedures made transparent and having timeframes and regulations to be considered in place, young entrepreneurs have surety on well protected rights and interests. This makes UAE perfect for the success of their dream.
Focus On Innovation:
Great initiatives have been taken by the UAE government to bring the limelight on innovation. Such initiates have been trending in order to keep the pace with the rest of the world and be a front runner in this field. A prime example is the recent acquisition of Souq.com, a home- grown ecommerce venture by Amazon, the global eCommerce giant.
Foreign Investment Friendly:
Foreign investments are hugely welcomed and encouraged by UAE’s government and has become a major part of the country’s growth strategy. Young entrepreneurs have discovered that UAE has the perfect climate for business setup, with remarkable opportunities.
Thriving Digital Economy :
Digital entrepreneurs have found a haven in the UAE. “The report on the ‘State of Digital Investment in MENA 2013-2016’ reveals that UAE attracts the most amount of investment into digital entrepreneurship in the Middle East and North Africa region. Today, UAE has gained precedence as the hub for tech start-ups in the region.
Among all this hype Umm- Al- Quain free zone has recently come up with a very cost effective one visa package License. This allows new-comers to take a license at the lowest cost possible with one visa so as to establish themselves in the new environment and get a head start on their entrepreneurial dream. After one year an individual can continue with the license with an up gradation to a higher package or they also have an option of going with zero visa packages in case they need more time for creating a stronger base for their business in UAE.
Sharjah Media City and Ajman free zone on the other hand allow low on cost trade license along with flexible installment plan packages making it easier for start-ups to make the initial investment without affecting their budget.
This blog post is written by Ms. Romysa. Feel free to call our Business Adviser today for a quality consultation relating your Business queries. Please send inquiry to info[at]flyingcolour[dot]com or call +971 4 4542366.