No investment, tax-free: Perks of Dubai Startup Visa
ET Online — February 17, 2024 | 4:18 PM IST
What is a Startup Visa?
Many young entrepreneurs look to startup visa programmes in Canada, Dubai, Ireland, and other countries in search of more favourable conditions.
Aware of the potential to draw in foreign talent, these countries provide simplified procedures, low investment needs, and alluring benefits like funding, mentorship, and routes to citizenship or permanent residency.
These locations stand out as hubs for budding innovators to realise their ambitious ideas as the global startup scene develops, according to Varun Singh, MD, XIPHIAS Immigration.
Dubai's Startup Visa
As part of the efforts of the Dubai Future Foundation to promote an innovative and creative culture in the city, Dubai introduced the Startup Visa in 2017.
The Startup Visa for Dubai gives international business entrepreneurs a number of advantages. Read on to find out.
No investment
As long as applicants have an inventive and viable business idea that the Dubai Future Foundation has approved, there are no minimum investment amounts or turnover requirements for their startups in Dubai.
Tax-free
Dubai provides business owners with a tax-free environment, and there is no corporate, income, or capital gains tax.
This enables young entrepreneurs to retain a larger portion of their earnings and reinvest them in their companies.
Funding and support
Entrepreneurs can access a range of funding and support programmes in Dubai, including:
- The Mohammed Bin Rashid Innovation Fund
- Dubai SME
- Dubai Startup Hub
- Dubai Future Accelerators
These initiatives offer mentorship, seed capital, and strategic partnerships to help startups scale quickly.
