The software development companies have vast potential in Dubai. It is one of the fastest-growing industries in the world today and will continue to grow at a much faster pace in the years to come. Dubai is opening massive opportunities for software companies and also inviting foreign investors in large numbers to come and invest.
The software industry is growing by leaps and bounds in Dubai and across the world, and it is no different for digital services. The reason an increasing number of investors are venturing into the software development sector. The effect of its growing demand can be seen even in Dubai and other emirates of the United Arab Emirates. Hence, UAE is witnessing a massive rise of software companies in Dubai in recent times. Moreover, the government’s support to promote the overall expansion of software companies in Dubai is a motivating factor for investors, young entrepreneurs and fortune 500 companies as well. Today, the growth of the software industry in Dubai is at its peak, and it is not slowing down anytime soon.
So, let us try to understand how to open a software development company in Dubai from this article. Of course, you can always hire a business setup consultant or a company formation specialist to take responsibility for software company formation on your behalf but, if you understand the process even a little bit, you won’t get cheated anywhere. Read further to know more.
Let us try to find out through this article how one can set up a software company in Dubai (UAE).
How To Start A Software Company In Dubai?
Considering the growth in the software department in Dubai, the authorities have established a quick and hassle-free process for opening a software company in Dubai.
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Selection of a Suitable Location
The two prominent legal structures for business purposes in Dubai are – the mainland and the free zone. Some of the most prestigious localities in Dubai for incorporating a software company are – Dubai Internet City, Dubai Techno Park, Dubai Silicon Oasis, Dubai Media City and Dubai Knowledge Village.
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Register Your Trade Name
Next, you will have a register for a legal trade name for your company following the rules and regulations of Dubai, established by the Department of Economic Development of Dubai. Your trade name should be unique and relevant for your business. It should not be misleading or hold any offensive words, nor should it target any community, caste, religion, or insult anyone in any way.
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Get Licence Approvals
Your business license depends upon the type of business activities you will carry out in your company. Your license is issued by the Department of Economic Development in Dubai. Software companies in Emirate can also register for a professional license that allows 100% foreign ownership and a sole proprietorship.
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Visa Process
Both an employment visa and residency visa is mandatory to start a business in Dubai. Additionally, you will also have to provide a fitness test report and several other necessary documents for the approval of your visa in the UAE.
How to Acquire a Software Development Business Licence in the UAE?
If you have decided to set up your software development company in Dubai or any other emirates of the UAE, you will need to obtain a business license for the smooth functioning of your company. You will need to follow the steps mentioned below:
- Select your company name.
- Submit the identity proof—residence proof of all the shareholders and stakeholders.
- Apply for company formation.
- Select the location for the business setup in Dubai.
- After clearing all the steps mentioned above, the Department of Economic Development (DED) in Dubai will issue you a business licence.
- You can collect your software development business license in the next 2 – 3 working days.
- Next, open a current bank account in an authorised bank in the UAE.
What are the Documents Required for Software Company Setup in Dubai?
The list of documents required:
- Application form
- Trade Name (At least 3 choices)
- Business Activity
- Passport copy of the shareholders
- Entry stamp or Visa page
- Copies of passport size photograph
- NOC (no objection certificate) for any expatriate partners
- Articles of association
- Pay the Initial Approval Fee
- Pay the Security Deposit
- Signed Partnership Agreement (In case you are starting the company in partnership)
- Tenancy Agreement with the Owner of the Property, in which the Company is Located
Now Plan Your Software Company Formation
If you are amongst the ones planning to set up a software company in Dubai, this is the best time to do it. You can consult expert consultants for business setup in Dubai and seek their help closing the process. They will assist you in the paperwork, obtaining approvals, clearances, visa process, immigration, acquiring a licence, and locating office space for rent. You will only have to tell them your requirement, and they will take care of the rest.