Startup dreams? THIS tax-free UAE city could be a tempting destination — Check details
By ET Now Digital
Updated: February 18, 2024 | 2:00 PM IST
Many young entrepreneurs seek out startup visa programs in Canada, Dubai, Ireland, and other countries in quest of more favourable terms. Recognizing the potential to attract international talent, these countries offer simpler procedures, minimal investment requirements, and appealing incentives such as funding, mentorship, and paths to citizenship or permanent residency.
According to TOI, Varun Singh, MD of XIPHIAS Immigration, says that these regions stand out as hubs for aspiring innovators to realise their ambitious ideas as the global startup environment evolves.
Dubai’s Startup Visa
In 2017, the Dubai Future Foundation developed the Startup Visa as part of its efforts to promote the city's innovative and creative culture. The Dubai Startup Visa provides several benefits to international company owners. Dubai introduced the Startup Visa in 2017, as part of the Dubai Future Foundation's efforts to create a culture of innovation and creativity in the city.
No investment
As long as applicants have an innovative and feasible business plan that has been authorized by the Dubai Future Foundation, there are no minimum investment or turnover criteria for their businesses in Dubai.
Tax-free
Dubai offers company owners a tax-free environment with no corporate, income, or capital gains taxes. This allows young entrepreneurs to retain more of their revenues and reinvest them in their businesses.
Funding and Support
Dubai offers a variety of funding and assistance programs for entrepreneurs, including the:
- Mohammed Bin Rashid Innovation Fund
- Dubai SME
- Dubai Startup Hub
- Dubai Future Accelerators
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