things you should know about the dubai internet city
- Author- Vijaya
- Publish Date-
Dubai Internet City, also known as DIC, is a sizable technological park that is situated just outside of Dubai's opulent downtown. It serves as Dubai's answer to Silicon Valley and is home to several of the largest tech companies in the world, including Facebook, Alphabet's Google, Microsoft, Cisco, IBM, and others. The city, which is located within one of the United Arab Emirates' free trade zones, serves as the largest Internet and communications technology centre in the Middle East. After only one year of construction, Dubai Internet City first opened its doors in 2000. It now counts 1,600 businesses with roughly 17,000 employees and 1.5 million square feet of office space.
Dubai: Hub of IT and fintech companies
Dubai is known for its extravagant developments and taste for luxury, but software businesses have gravitated to the DIC because of its free-trade zone status. Dubai Internet City offers specific privileges, such as tax exemption for 50 years and no import or export charges, to entice tech companies to establish their regional headquarters there.
Facebook opened its first Middle East office in DIC back in 2012 to have greater access to clients and advertisers in that region of the world. In order to conduct business in the Middle East, North Africa, and Pakistan, Facebook uses the location as its primary office.
START-UP OPPORTUNITIES IN DUBAI
Dubai is attracting some of the most extraordinary people to the region with a variety of business-friendly rules, measures, and initiatives, in addition to being recognised as a global hotspot for entrepreneurship and start-ups. But not just major tech firms profit from Dubai Internet City. The city's co-working spaces and tech incubators together with the hosting of hackathons, tech conferences, and Internet of Things expos by DIC have resulted in the creation of technology start-ups. Some of these startups have even emerged as Unicorns as well in recent times. It is well known that Dubai boasts a robust business climate supported by a variety of beneficial policies and initiatives. It's also critical to remember that the city provides the ideal setting for fostering regional entrepreneurship and start-ups. More than 10,000 small and medium-sized start-ups are reportedly housed there.
House of Fintech Giants
A recent TechCrunch article claims that the co-working areas and tech incubators in the city, along with DIC's hosting of hackathons, tech conferences, and Internet of Things expos, have helped to launch technological start-ups. The atmosphere is favourable for aiding aspiring start-ups and entrepreneurs due to the presence of a solid financial infrastructure and entities.
DUBAI: THE ULTIMATE DESTINATION FOR YOUR BUSINESS
Over one billion consumers living in the Middle East, Eastern Europe, Asia, and Africa's adjacent countries might be reached by the companies already operating in Dubai. Here are a few reasons why you should establish your business in Dubai before we discuss the business prospects that are accessible there.
- One of Dubai's best areas for company owners and entrepreneurs. Modern infrastructure and a pro-business government administration foster the expansion of both small and large firms.
- A start-up can benefit greatly from the creation of free trade zones in Dubai, which will lower costs.
- The business setup process is simple because of the Dubai government's willingness to be modern and forward-thinking.
- Due to its minimal or almost nonexistent taxation policy, Dubai is a fertile environment for foreign investment. Only three industries—oil, banking, and tobacco processing—are subject to major taxation.
You won't experience any issues incorporating your business in the UAE if you are considering investing in Dubai. But before you make that important choice, you must first determine the finest markets to invest in. The top business prospects in Dubai that would guarantee investors immediate returns and long-term profit are listed below without further ado.
Real estate and/or construction
The top two businesses on the list are real estate and construction, which also includes property management, real estate development, renting out properties, and maintaining existing properties. The JAFZA and DAFZA The two main choices for setting up a lucrative business in Dubai are free zones.
The retail industry is another business area that has been expanding quickly in recent years as a result of the strong economy, growing population, and steady inflow of tourists from abroad, both for leisure and business. As a result, opening a sales office, fashion boutique, storage space, or grocery store can be profitable.
Tourism and hospitality
It is now well-known that Dubai is the top destination for travellers to swarm to during vacations. Offering a wide range of fascinating, entertaining features like opulent beaches, boutique hotels, shopping centres, residential villas, and cultural sites like Old Dubai and Global Village, it has been successful in luring visitors from all over the world.
Digital media and advertising
Overall, the advertising sector, which primarily consists of digital media, continues to show signs of expansion. With USD 410 million spent on advertising and marketing in the first quarter of 2018, the United Arab Emirates has just been named the GCC nation that spends the most overall. There are several domestic success stories in this diversified market, like Porsche and McDonald's, both of which are expanding quickly.
Restaurant and food Business
Dubai serves as a global gathering place for people in the restaurant and culinary industries. It is important to note that a location that supports such a diverse culture must likewise offer international food. People enjoy indulging their palates, whether it be with rooftop dining, food from a food truck, or some inexpensive but delicious dining streets. A food-related business venture must be a tempting thought.
Dubai Work Visa
Now that you are aware of the business opportunities in Dubai, it's time to start looking into it and the first step would be to apply for an E visa. With just a few steps, you can apply for a work visa along with professional guidance and 24*7 helpline support. To apply for a Dubai work visa you should follow this general application procedure:
- Use the Dubai E Visa Online, a dependable platform designed to make the Dubai visa application procedure simple for everyone, to submit an E-visa application online.
- Keep all the documents required to submit a Dubai work visa application and upload them as necessary.
- Select the most appropriate payment option and submit your application fees.
- Once your visa has been granted, you can book a flight to Dubai.
ALSO READ: EVERYTHING ABOUT DUBAI REMOTE WORKING VISA
It is obvious that censorship can harm technological innovation and ultimately impair how technology companies in Dubai Internet City conduct business. However, Dubai Internet City's expansion is anticipated to be fueled in the near future by the current tax benefits and access to quick expanding markets like India, Africa, and southern Asia.