Doing Technology and Innovative Business in the UAE
SORP Group will provide all the help and support you need to set up your successful high-tech business in the UAE. Quite a small investment gets you operational, and pay-back is fast.
The UAE is a major world economic and business center and a driver for development in the Middle East region. Active state support for innovative promising ideas and startups is part of a successful diversification policy. Now it boasts a high-tech infrastructure and world-class corporate environment, which along with a 0% corporate tax policy have generated huge growth in the technology sector. SORP Group’s team will show you how to open your IT business, get you the licenses, and deliver the support and local know-how you need to build high levels of financial reward.
Incorporating an innovative high-tech business here opens up these benefits and opportunities:
Participation in one of the world’s fastest growing markets
The UAE has grown rapidly over the past 20 years, integrated into the global economy and now delivers many business opportunities
State protection for business investors
The rights of investors and business people are protected both under mutual international agreements and through UAE legislation
Settlements in any currency without conversion
Multi-currency bank accounts cater for all major world currencies including the Dollar, Euro, Yuan, Pound Sterling and many more
Bid on international tenders
The country provides a credible base from which to launch bids for international tenders as well as opportunities in the Gulf region
Operate from a low-tax jurisdiction
The benefits of paying zero corporate tax add a big competitive edge, keep costs down and enable retention of greater levels of profit
Optimize international business
Set up holdings and similar structures to make international settlements within a group with no taxation consequences
The UAE’s advantages for running high-tech and innovative businesses
Financial stability
Zero inflation, an exchange rate pegged to the Dollar, and absolute reliability of the country’s banking system are perfect for doing business
Freedom for cash flow
UAE law provides for easy payments and money transfers with total absence of any currency controls
High purchasing power
According to IMF data, the UAE populace is very affluent and the country is ranked in the Top 10 for average household income
Preferential tax treatment
The state applies 0% corporate and income tax, which enables maximum profit retention and attracts highly skilled foreign workers
Equal rights for business beneficiaries
Foreign business owners operating from the UAE enjoy similar legal rights and conditions for doing business as UAE nationals do
Data protection
The law provides robust confidentiality about company owners, directors and shareholders for companies incorporated in the UAE
Types of high-tech actvities welcomed for licensing in the UAE
IT product sales
IT consulting
IT maintenance and support
IT developments
FinTech
EdTech
Cyber security
Hosting and data storage
Certificates needed to market your products and technologies in the UAE:
Certain types of products in the UAE require mandatory certification and testing to prove their compliance with the international standards and obtain a Certificate of Conformity - import and sales of these products in the Emirates will not be possible without it.
ROHs
This certification applies to electrical and electronic equipment related to electromagnetic fields and current, as well as any computer or telecommunications equipment.
IEC
This document is the regulation for any electrical and electro-technical equipment, including chargers and cables, and is also mandatory for obtaining ROHs and G-Mark certificates.
TRA
Any telecommunications and transmission equipment must be registered with the Telecommunications Regulatory Authority, which tests it for compliance with standards and issues an import permit.
G-Mark
Electrical equipment imported into the UAE must meet GSO BD1420004-01 requirements for low voltage equipment, electrical and electronic goods, and be tested for compliance with G-Mark standards.
ISO / IEC 2007
International standard that lays down the requirements for a company's Information Security Management System to ensure the organization's capability to protect its own and third-party data resources.
SORP Group’s solutions for successful high-tech and innovative businesses
Evaluation and business-analysis
Assessing your business idea, choosing a best fit license, the place for incorporation and type of company to achieve objectives
Company Incorporation
Fast incorporation of your business thanks to SORP’s close cooperation with the registering authorities and SORP’s own expert resources
Opening bank accounts
Professional support for opening bank accounts and for undergoing procedures for compliance and KYC required by UAE banks nowadays
PRO support for business
All manner of task such as help with obtaining visas for investors, for employees and family members, renewing licenses and permits
Outsourcing business processes
Providing highly professional outsourced services including book-keeping, tax consulting, administrative and legal support
Dubai office and registered address
Space for rent in SORP Business Center to pass licensing procedure: offices with Ejari/Estidama, also flexi–desks and virtual addresses
SORP’s bundled solutions for doing international business from the UAE
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International legal consulting
Providing consultancy and advice about legal issues in foreign countries and how UAE legal tools and solutions might be applied to resolve them legitimately
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Support for operating bank accounts
Assistance in fulfilling mandatory bank compliance requirements, confirming business transactions on your corporate account and communicating with the bank
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Providing nominee services
Using nominees in the UAE in order to conceal beneficiaries and for applying transfer pricing strategies between affiliated entities in a corporate structure
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International tax planning
Individual solutions to improve tax optimization schemes based on the UAE law make international business function more efficiently and enhance your returns
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Getting tax resident status
Getting a tax domicile certificate protects from exchange of tax data under CRS, using double taxation treaties concluded with a number of countries
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Confirming economic substance
Proof of doing business activities at the place where your company is registered, evidence of a control and management center, and UAE tax residency of your operations
The UAE is the best base for setting up and running your high-tech business
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Offline Gitex Exhibition
Gulf Information Technology Exhibition (Gitex) in Dubai - the only global technology show held in the world offline in 2020 - proves the country’s priority and high commitment to the technology sector
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Prospects for business inside IT clusters
The IT and innovations space covers a whole array of licenses, not only in the case of mainland (local) companies, but also in FTZs of the UAE. Only Dubai alone has four narrowly-specialized FTZs: Dubai Internet City, Dubai Media City, Dubai Silicon Oasis and D3
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Support for IT business at a legislation level
According to UAE corporate law, companies engaged in the high-tech and innovations space can be 100% owned by a foreign beneficiary
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Low rate of business failure
Business in the UAE is characterized by high commercial and financial solvency. The worldwide failure rate for startups runs at about 92%. By contrast, not more than 30% of IT companies fail to renew their licenses according to data from the UAE Economy Department
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Prestigious neighborhood with IT giants next door
The UAE is a magnet for super modern startups and the location for major international corporations, which is evidence of the benefits of doing business here and their presence attracts more investors. Global names such as Google, Microsoft, Oracle, SAP and others have opened offices in the Emirates
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State-supported strategies
All key development strategies of the country are aimed at improving information technologies, process automation, and implementing innovations. The UAE has adopted five initiatives to support the field of high-tech: Smart Dubai, Vision 2021, Blockchain, Dubai 10x, Digital Protection
Use SORP’s long-term experience to achieve your business goals in the UAE
Get a free consultation with a SORP expert
SORP Group’s specialists will help you set up a business structure to meet all requirements of your business both inside and outside the Emirates.
Contact SORP Group right now and ensure that your IT business grows rapidly and profitably!