The race for technological superiority is heating up, and while the United States reigns supreme in the west and China in the east, the UAE is shaping up to be the technological hotspot of the Middle East. Dubai, the country’s most populous city, is at the forefront of this pursuit and for several years, the city’s government has been working towards putting the UAE on the global map when it comes to innovation and digital transformation. One of the approaches taken to make this possible is the establishment of the Information Technology Park or National Industries Park, also known as the Techno Park. 

Situated in the Jebel Ali Industrial Zone, the park covers an area of approximately 21 million square meters and currently houses hundreds of companies in IT and other business sectors. If you’re a startup founder interested in tapping into the Dubai tech ecosystem, the Techno Park provides a good opportunity to do so. In this article, we cover the key information you need to know about the park and the potential it holds to advance your business. 

Key Details About the Techno Park 

The motivation behind the park was to provide a free zone for local and foreign companies to set up their operations and build. Inside that ecosystem, business enterprises from all over the world could access the support they needed to develop next-gen technological tools and innovative solutions. Located at a strategic location, the Techno Park is close to a seaport, an airport, and intra-city transportation systems. Furthermore, there’s a wealth of office space available inside the park for startups looking for a new home, the existing facilities are state-of-the-art, and Dubai has one of the highest internet penetration in the world.

As a result, the Techno Park is the perfect location for tech companies looking to establish a base in the Middle East. Another benefit of setting up shop in Dubai is the access to a diverse pool of talent. Due to a concerted effort from the government and local stakeholders, Dubai is home to thousands of skilled tech workers – meaning startups can find the talent they need locally. And for foreign companies who want to bring in their workers, the visa process is straightforward and hitch-free. 

Benefits of Setting Up an IT Business in the Techno Park 

Some of the benefits of setting up a business in the Dubai Techno Park have been highlighted in the previous section, but those are mostly generic. Here are some advantages that are particularly relevant to advanced IT companies.

• Complete foreign ownership: Dubai is one of the few cities in the world that allow foreigners to own 100% of their companies. That means if you already have an established business hierarchy in place, you don’t need to disrupt that arrangement just because you’re moving to Dubai or setting up a branch in the city. This is particularly relevant for tech companies that have complicated staking structures. 

• Unambiguous incorporation requirements: There are clear guidelines on foreign business registration and company formation in Dubai. Tech companies that want to start operations in the Techno Park can find out beforehand what they need to do, which licenses they must acquire, and the breadth of services they can provide, be it in cryptocurrencies,  artificial intelligence, or blockchain technology. 

• Business-friendly environment: The UAE, and Dubai by extension, has established a business environment that’s one of the most conducive in the world. Companies in the Techno Park can easily lease office space, hire local talent, and acquire visas for their foreign staff. Furthermore, the corporate tax rate in Dubai is one of the lowest in the world, and only companies with profits over $100K may be required to pay taxes. Finally, companies can exchange currencies with little restriction – this is important for tech companies involved with finance or wealth management. 

• High potential for local funding: Another benefit of establishing a company in Dubai’s Techno Park is the proximity to VC funding opportunities. The UAE’s economy is one of the fastest growing in the world, and several of the biggest tech investors either have a local presence or are dialed into the Dubai ecosystem. That means if you’re doing groundbreaking work, it won’t be long before it reaches the right people. 

• High level of disposable income: Finally, the local economy in Dubai is healthy, with a large population of expats and professionals living within the city. This means there’s a ready market for tech products that are innovative and solve everyday problems for people. 

There are several other benefits of moving your startup to Dubai or establishing a new tech business inside the Techno Park, and the above-listed should provide some insight into how willing the government is to attract innovative founders across several industries. If you’ve been considering Dubai as the location for your tech-based business, you’ll need some local expertise to set up the company, acquire the required licenses, open a company bank account, and secure visas for your staff. 

We provide a bespoke service that covers all these, and we’re the best in the business. To get started with the process, we believe a one-on-one conversation would go a long way to help you understand what needs to be done and the benefits we can offer your company. So, click this link to schedule a virtual meeting and let’s get the ball rolling.