Dubai Startup Guide 2024 1728849525

DUBAI
STARTUP
GUIDE
2024 Edition
dubaichamberdigital.com
DUBAI STARTUP GUIDE 2024 EDITION | 3
TABLE OF
CONTENTS
FOREWORD BY HIS EXCELLENCY OMAR SULTAN AL OLAMA 04
ABOUT DUBAI STARTUP GUIDE 2024 EDITION 06
ENTREPRENEUR’s GATEWAY 08
UNDERSTANDING LEADERSHIP’S VISION: A BLUEPRINT FOR THE FUTURE 16
Hear from the Leaders 16
Up close and personal with His Excellency Ahmad Abdullah Bin Byat 17
STARTUP ECOSYSTEM ENABLERS 19

SETTING UP A BUSINESS IN THE UAE 22
MAP OF THE FREE ZONES 28
SECTOR GUIDES 29
3D printing 29
Artificial Intelligence 31
Cybersecurity 33
Digital Assets 35
EdTech 37
Fintech 39
Gaming 41
Healthtech 43
Metaverse & Web3 45
Software/SaaS 47
INVESTORS SPEAK 49
Dubai from the lens of Dubai Future District Fund 49
Hear from other Investors 52
STARTUP PERSPECTIVES 55
Chainalysis: Successfully leveraging the forward looking vision of the ecosystem to serve the larger region 55
Micropolis Robotics: Made in Dubai for the World 57
Lune: Using Dubai’s supportive ecosystem to successfully pivot from a B2C to a B2B business model 59
DUBAICHAMBERDIGITAL.COM
4 | DUBAI STARTUP GUIDE 2024 EDITION
FOREWORD
Dubai’s emergence as a global local businesses. Our commitment to
leader in the digital economy re ects forward-thinking regulations ensures
our unwavering commitment to emerging technologies such as
fostering innovation, encouraging artificial intelligence bloc chain and
entrepreneurship, and leveraging Web 3.0 are seamlessly integrated
advanced technologies. Over the into Dubai’s economy. Regulatory
years, we have invested in building a frameworks, including the Virtual
thriving ecosystem where startups and Assets Regulatory Authority (VARA),
businesses can scale and succeed on provide the necessary support to foster
a global level, supported by Dubai’s innovation while maintaining trust
world-class infrastructure, international and transparency for businesses and
talent pool, innovation-friendly their customers. Dubai’s investment
environment, favourable regulations, landscape is also a major driver of
dynamic investment landscape, and growth. Our city is home to a thriving
unrivalled market access. venture capital scene and a wide
array of government-backed funds,
Dubai’s infrastructure is the foundation offering startups and businesses the
His Excellency Omar Sultan Al Olama of this growth. With high-speed financial support needed to scale
Minister of State for Artificial connectivity, cloud computing, and globally. The Dubai International
Intelligence, Digital Economy and state-of-the-art logistics, our city Financial Centre (DIFC) is a leading
Remote Work Applications offers the technology and resources destination for fintech investments
needed for startups to grow. Attracting attracting investors from around the
top talent from around the world world. Lastly, market access is key to
is another critical factor in Dubai’s Dubai’s success. The Dubai Traders
success. Initiatives like the Golden Initiative, a core component of the D33
Visa and the remote work programme Agenda, enables startups to expand
ensure our city remains a magnet for internationally by connecting them to
global innovators and entrepreneurs, emerging markets across the Middle
creating a nurturing environment for East, Africa, and Asia.
ideas to turn into impactful ventures.
In addition, Dubai’s dedication to This Startup Guide is a valuable
innovation is evident in its support resource for those looking to be part
for digital transformation and the of Dubai’s thriving entrepreneurial
rapid growth of businesses. The DET community. It offers insights and
x Amazon Accelerator exemplifies guidance for entrepreneurs ready to
this by providing small and medium- embark on their journey in a city that
sized enterprises (SMEs) with the supports innovation and celebrates
resources and mentorship they need ambition. Whether you are an innovator,
to succeed, in line with the Dubai investor, or entrepreneur, Dubai offers
Economic Agenda (D33). This initiative the tools you need to transform your
opens up new market opportunities vision into a global success story.
and fast-tracks the digital journeys of
ABOUT
DUBAI
STARTUP
GUIDE
2024 EDITION
What is the Dubai Startup Guide advice and insights to help you achieve
about? your goals.
The guide is a comprehensive resource
designed to assist entrepreneurs and here can I find more information
startups in navigating the process of For more detailed information, you
establishing their businesses in Dubai. can visit the o cial Dubai government
It covers key aspects such as legal websites, local business chambers,
requirements, business setup options, and startup incubators. Additionally,
funding opportunities, networking, and our guide provides links to useful online
the unique advantages Dubai offers as resources, contact details for key
a business hub. Whether you are a local organizations, and recommendations
entrepreneur or an international startup, for local business consultants who can
this guide provides the essential offer personalized assistance. You can
information you need to make informed also join local business communities
decisions and successfully launch your and networking groups to stay updated
venture. on the latest trends and opportunities in
Dubai’s startup ecosystem.
Who is this Guide for?
This guide is tailored for aspiring What is my next step?
entrepreneurs, small business owners, Your next step is to dive into the Dubai
and startups looking to establish a Startup Guide and get a good grasp
presence in Dubai. It is also valuable for of the requirements and opportunities
investors, business consultants, and available. Sketch out a solid business
anyone interested in understanding the plan using the tips and resources in
dynamic business environment of this the guide. Make sure to chat with
thriving city. Whether you are starting local business consultants and legal
from scratch or expanding your existing advisors to nail down all the regulatory
business, this guide offers practical stuff, and get familiar with the rules for
doing business in Dubai. Take a look

at the different free zones to pick the
one that fits your business best each
has its own perks and focuses. Then,
kick off the process of registering your
business, securing funding, and building
your network in Dubai’s bustling startup
scene.
We hope this guide helps you on your

journey to set up shop in Dubai. If you
have any questions or need more help,
feel free to reach out.
ENTREPRENEURS’
GATEWAY
Why Dubai is the Ultimate Destination for Your Business
Before delving into Dubai’s

ecosystem, let’s explore why
Dubai consistently ranks
among the top 10 places to
live, work, and play.
1 Highly investment friendly
Foreign Direct Bilateral investment protection Bilateral investment protection Bilateral

Investment Law agreements double taxation avoidance agreement
100% ownership 109 countries 142 countries
2 World Class Land, Sea and Air Travel Infrastructure

Direct links to all major global markets by land, sea and air covering 3/4th of the world’s
population within eight hours flight time
Ceko
Stockholm
St. Petersburg
Oslo Copenhagen
London Hamburg Moscow
Liege Frankfurt
Luxemburg
Seattle
Zaragoza
Chicago Beijing
San Francisco New York Madrid Barcelona Istanbul
Columbus Toronto Seoul
Erbil Peshawar Tokyo
Los Angeles Kabu
Cassablanca
Tunis
Cairo
Dubai
Larnaca
Shanghai Osaka
Aguadila Population of Population of Population of
14 HOURS 8 HOURS 4 HOURS 2 BILLION 6 BILLION 7.9 BILLION
Mumbai
Mexico City Khartoum Chennai Yangon Clark
Ouagadougou Djibouti
Dakar Kochi Bangkok Marli
Phnom Penh Citu
Abuja Thiruvananthapuram
Addis Ababa Colombo Phuket Ho Chi Minh City
Abidjan Eldorat Male Kuala Lumpur
158
Singapore
Oulta
Nairobi
Emirates Lilongwe Jakarta
Luanda Bali
Destinations
Visacopos
Sao Paulo Johannesburg
Rio de Janeiro
Santiago
Brisbane
250+ Cape Town

Perth Adelaide
Sydney
Flights every Buones aires Melbourne
Auckland
24H through DXB
Christchurch
78
DP World
global ports
Source: EMIRATES, Arabian business, DP World
3 Best in Digital Competitiveness

UAE is the most digitally competitive country in the MENAT and GCC, followed by Qatar and Saudi Arabia.
60
Turkey
50
Jordan
Saudi
Ranking
40 Arabia
30 Qatar
20
UAE
10
0
2018 2019 2020 2021 2022 2023
4 Economic Growth
GDP growth rate for UAE has been consistently above 3% since 2021 with forecast for 2024 and 2025 north of 3.5%
2024 2025
Real GDP Growth Rate Real GDP Growth Rate Forecast
3.51% 4.17%
In January 2023, Sheikh Mohammed bin Rashid Al Maktoum launched D33 to double the GDP
over the next decade to 2033, aiming to establish it as one of the top three global cities.
Source: IMD, IMF, Numbeo, University of Oxford, World Bank, Lucidity Insights Research & Analysis
HIGHLIGHT
In January 2024, His Highness Sheikh Mohammed
announced the approval of the Dubai Economic
Agenda - D33.
Politically Stable
A key goal of the D33 is to double the size of Dubai’s
More than 100 dynamic diplomatic missions abroad
economy over the next decade and consolidate
and about 200 foreign diplomatic missions in the UAE
its position among the top three global cities. D33
includes 100 transformational projects, of which the
Socially Stable first pac age of transformational pro ects for the next
decade includes:
Ranked 22nd in the World Happiness Report
2nd in the region behind Kuwait 1 Double size of Dubai’s foreign trade and adding
UAE is a safe place to live and invest in 400 cities to Dubai’s foreign trade map
2 Launch plan for green and sustainable

4 th Extremely Safe manufacturing
Ranked 4th in list of safe cities globally in 2024, moving

3 Launch Dubai’s Future Economic Corridors 2033
up from #7 in 2023 with Africa, Latin America, and Southeast Asia
4 Launch a scale-up programme for 30 companies

1st Ease of Business to become unicorns
Ranks 1st in the World Bank’s Ease of Doing Business 5 Integrate 65,000 young Emiratis into the job
Index for the MENA region market
6 Launch Dubai Traders project to empower the new

Digital Economy generation of traders in key sectors
National digital economy expected to grow from US$ 62 7 Launch Dubai’s unified licence as a uni ue
commercial identity for all companies all over
billion in 2021 to over US$ 140 billion in 2031
Dubai
8 Launch ‘Sandbox Dubai’ to allow testing and

commercialisation of new technologies and
making Dubai a major innovation hub
9 Launch a programme to attract the world’s best

universities, making Dubai a global pioneering hub
for higher education
10 Develop a SME scale-up programme by identifying

400 high-potential companies, supporting their
capacity building, and supporting them to grow
globally.
5 Population explosion expected

Dubai’s population was a mere 254,557 in 1980, and that has rapidly grown to nearly 3.65 million at end of 2023.
The Emirate added 100,240 people in 2023, much more than the 71,495 people in 2022.. Q1 has seen Dubai add
another 25,700 people, to reach 3.68 million.
his figure is expected to increase to million people by 2
6,000,000
5,500,000
5,000,000
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
1980 1985 1990 1995 2000 2005 2010 2015 2020 2022 2040
(to date)
Population Population (projected)
6
Global Talent
Competitiveness
Ranked 22nd in the 2023 The Global Talent
Competitiveness Index, published by INSEAD,
ran ing first among orthern Africa and estern
Asia region.
UAE is the best performer for the 6th time in the

GTCI. It is ranked highly on being able to attract,
due to its external openness.
Also ranks high on access to growth

opportunities.
Source: Dubai Statistics Center, INSEAD and Lucidity Insights

esearch Analysis using data from Crunchbase and itchboo
7 Healthy Startup Ecosystem

More than 1,000 startups in the UAE, with Dubai accounting for 86% of the startups. 40% of Dubai based startups are
scaleups (having successfully raised more than US$ 1 million in funding. Dubai based scaleups account for 89% of
UAE scaleups.
HIGHLIGHT
1980 2023 2040

Population Population Population Forecast
0.25 million 3.65 million 5.80 million
1st 86% 34%

Talent Competitiveness Scaleups Scaleups
Ranked 1 in the region
st
Dubai-based vs UAE Raised more than US$ 1 million
8 Ease of Access to Capital

Funding for Startups in MENA (excl. Israel)
6,392 6,385
Dubai Rest of UAE Rest of MENA
4,949
2,639
2,091
1,503
1,046 1,056
133 272
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
% of funds raised by startups from
Dubai 84% 43% 78% 23% 90% 52% 33% 56% 36% 36%
UAE 84% 44% 78% 25% 92% 56% 75% 60% 52% 44%
Dubai based startups have raised a significant sum of funds through the years representing over half of the
funding in 5 of the previous 10 years, while UAE based startups have raised more than half of all funding in 7 of the
previous 10 years. There are more than 1,300 investors in Dubai based startups since 2010. 2021 to 2023 has seen
investors actively funding UAE based startups out of which Dubai based startups account for
9 Dubai’s Most Funded Startups to Date

US$ Mn US$ Mn
1 Telegram Messenger 2,910.0 8 Souq – acquired by Amazon 460.0
2 Tabby 1,744.0 9 Pathfinder 325.0
3 Kitopi 804.0 10 Fenix Games 150.0
4 Careem – acquired by Uber 771.7 11 Property Finder 142.0
5 Swvl 709.0 12 Yalla 139.5
6 Dubizzle Group 479.0 13 Cashew Payments 106.7
7 Aleph Holding 470.0 14 OptAsia – formerly Channel VAS 104.0
15 Wadi – acquired by Majid Al Futtaim 97.0
ource: Lucidity Insights esearch Analysis using data from Crunchbase and itchboo
Considers firms which have established since 2 Funding data only considers e uity and debt funding rounds
In 2024,Tabby split its regional HQ between Riyadh and Dubai.
10 Quality of Life
Ranking consistently high on
different quality of life indices
HIGHLIGHT
Further focused on quality of life
with the new announcement of
Dubai Quality of Life Strategy
2033, focused on recreational
47%
opportunities, entertainment Accounted for by Dubai-based startups vs. the rest of
options and cultural preservation MENA (excluding Israel)
and inclusivity.
Did You Know

Over the next 10 years, Dubai
1,300+
plans to build 200+ parks, open the number of investors that have invested in firms
women-only beaches, construct headquartered in Dubai
115+ km of pedestrian and
cycling tracks, plant 3,000+ trees
and more 14
is the number of Dubai-based startups that have raised more
than US$ 100 million each
12.6 billion
Total cumulative funding for Dubai-based startups
Considers funding data from 2010 onwards
59%
Top 15 startups’ funding as a % of UAE cumulative funding
Considers only startups which got funded till December 2023
1st
#1 City for Expats
8th
Global Power City Index 2023
Power to attract people, capital, and enterprises
9th
2023 Ranking for Quality of Life
UNDERSTANDING LEADERSHIP’S VISION:

A BLUEPRINT FOR THE FUTURE
Over the past few years, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has
spearheaded a series of visionary initiatives that are rapidly transforming Dubai into a vibrant global hub for tech companies and
top talent. At the heart of this forward-thinking agenda is the ambitious Dubai Economic Agenda (D33), which aims to double the
size of Dubai’s economy over the next decade and consolidate its position among the top three global cities.
While Dubai’s startup ecosystem is thriving through initiatives such as the Dubai AI & Web 3.0 Campus at DIFC, which is projected
to attract over 500 global AI and Web 3.0 startups, generate over USD 300 million in investments, and create more than 3,000
obs by 2 2 Dubai’s public sector is setting a global standard with the Dubai Universal Blueprint for Artificial Intelligence and the
appointment of 22 Chief AI o cers in Dubai overnment both groundbrea ing steps designed to embed artificial intelligence
into everyday operations boosting e ciency and connectivity His Highness remar s Dubai continues to inspire the world
showcasing its dedication to developing a comprehensive digital ecosystem, underpinned by advanced infrastructure capable of
fostering innovative solutions to the world’s most pressing challenges.
“
Dubai has an ambitious vision and is taking proactive steps to enhance
its position as a global hub for technology innovation. The city has
created an exceptional platform for attracting digital talent from around
the world. Guided by the vision of His Highness Sheikh Mohammed
bin Rashid Al Maktoum, the city serves as an inspiring role model for
nurturing ideas and innovations that shape the future.”
His Highness Sheikh Hamdan bin Mohammed bin Rashid

Crown Prince of Dubai and the Chairman of The Executive Council
“
Our strategic plans will also focus on achieving the objectives of the
Dubai Economic Agenda (D33), especially in terms of driving digital
transformation, developing a sustainable business sector, and adding
an average of AED100 billion per year in economic value to the emirate’s
economy”
His Excellency Omar Sultan Al Olama

Minister of State for Artificial Intelligence, Digital Economy and Remote
Work Applications
To watch the full interview, please scan the QR code
Up close and personal with
His Excellency
A A
His Excellency Ahmad Abdullah Bin Byat is one of the most respected corporate leaders in Dubai today. He has been at the helm
of many of Dubai’s prominent companies, with leadership positions at Du Telecommunications and Dubai Holding. Previously
a Chairman at Du Telecommunications between 2006 to 2018, the company was able to expand during his tenure and gained
significant mar et share His time at Dubai Holding between 2 to 2 was first as CE then later as ice Chairman hile at
Dubai Holding, he played the instrumental role of developing the Dubai we now know and love. Let’s hear more from His Excellency
Ahmad Abdulla Bin Byat.
Tell us about the benefits that startups can find in establishing themselves in Dubai over some other places?
Dubai has always been an attractive place for startups, both digital and non-digital. The risks are similar for both digital and non-
digital businesses. What Dubai has been successful in doing, is being a conducive platform for the wider region as we are a trading
hub for 2.5 billion people around us. In fact a survey covering youth asking for ‘what is their destination city’ and great majority of
the youth mentioned Dubai.
Dubai is the 4th most visited city in to accomplish, we will be better able
the world behind Bangkok, Paris and to help them.
London. It’s a great place to play,
work and live. What do you think If you were a new grad today, with all
Dubai has done to ensure that Dubai the options you have been exposed
is a great place to live? to, how would you recreate your
We rely exclusively on experiences professional life today? What excites
and word of mouth which people take you?
back with them. However, beyond Dubai is such an evolving place and
word of mouth, there’s a lot of work in one of the main success factors is its
the background, which tourists don’t ability to absorb and integrate talent
necessarily see. People who want to and their ideas. If you see, many of
come and start a business also have the cities around the world, because
to consider other elements such as of traditions and existing systems,
accommodation, schooling and other tend to have filtration systems ince
infrastructure. If they are not provided Dubai is a new place, the city is not
with that, it would not be good for bogged down with ancient laws which
the city. We constantly heard from is clearly visible in our policy making.
senior leadership that their executives ou can see that with artificial
in Dubai were the most productive intelligence, which we rolled out.
out of all the regional HQs. It’s no
surprise as traveling to work is quick People come to us from all around the
and safety and security is something world with new ideas and fresh way
they don’t need to worry about. It of looking at things. If I was a new
is not only about what is available graduate now, I will look at something
for the startup, but it is about the to improve the e ciency of the
infrastructure the city provides, which city As cities grow ine ciencies
is what makes them stay longer. start creeping in and anybody
focused on improving ine ciencies
What advice do you have for and improving productivity would
entrepreneurs and startup founders succeed.
that are looking in the early
stages of relocating to
Dubai or start something
here?
he first thing to do
is approach the Dubai
Chamber of Digital
Economy, as we are a
semi-government body.
Our mandate is to provide
support to businesses,
and we have data and
information beyond what
is seen online. We also
introduce entrepreneurs to
relevant partners, support
infrastructure providers and
customers. If we get an
idea of what they are trying
DUBAI ECOSYSTEM ENABLERS

Key Government Entities
The government entities and institutions which are a key part of the ecosystem in Dubai
Programs: Programs: Programs: Programs:

• Create Apps in • MBRIF • Humanitarian • Intelak Idea Hub
Dubai Accelerator Accelerator (UAE nationals)
• Business in • Guarantee
Dubai Scheme
Sectors: Sectors: Sectors:

Technology Sectors: Impact Aerospace, air transportation,
and Tech, Education, Clean Energy, hospitality, tourism, travel
technology- Water, Transport, Health, Space
enabled
Programs: Programs:
• AccelerateHer • Dubai Future Accelerators
• National Digital • Dubai Centre for Artificial
Talent Incubator Intelligence
Programme • Dubai Future Solutions
• Metaverse • Dubai Future Labs
Accelerator
Sectors: • Dubai Design Lab
Sectors:
• Women in Tech FinTech, InsurTech, RegTech • Dubai Future Fellowship Disruptive technologies
• Dubai AI Campus and Islamic FinTech, AI, Web3 • Dubai 10X

• Using Robots in • Innovation • GeoHub • Sustainability &
Smart Cities Accelerator Innovation
• Securing Smart Program Centre (Training
Cities • Hackathons programs for
• Dubai 10X UAE Nationals)
• Cleantech Youth
Sectors: Program
Sectors: Geospatial
Sectors: Transport Sectors:
Disruptive technologies Clean Technology
Certified Incubators
Programs:
• Pitch@Gov
Sectors:
Public sector
Hamdan Innovator and Incubator (HI2), under the Department of Economic Sectors:
Development is established by the Mohammad Bin Rashid establishment for SME Technology
and has a list of certified business incubators under it.
DUBAI ECOSYSTEM ENABLERS

Other key private accelerators and incubators

Majid Al Futtaim Project Incubation; FI Core Program; C3 Social Impact
Launchpad Technical; Founder Lab; FI Accelerator
Programme; The Consulting Venture Network
Global Startup
Program; Game Sectors: Investments and Sectors: Sectors: Sectors:
Changers; Fast Technology Crowdfunding Metaverse, Technology and Impact
Pilot Program; Web3, AR/VR technology-
Mega Green enabled
Accelerator

Launchpad X Local Business Retail Accelerator Wamda X
Incubator Program; The
Co-Kitchen Food
Business Incubator
Sectors: Sectors: Sectors: Sectors:
Technology, FMCG; Food Retail, food Technology and
fashion and production technology-
lifestyle, leisure, enabled
climatetech

Women in Tech Venture Studio; Incubation; Investment
Accelerator VCaaS Marketing/Advisory readiness
acceleration
program
Technology Technology and Web3, Token AI, Sustainability,
technology- Management and Blockchain
enabled

Sandbox CoFounder+ Dubai Smart City in5 Tech; in5
Programme Accelerator; Media; in5 Design;
Fintech in5 Science

Technology EdTech, Smart city Technology,
HealthTech, solutions, media, design,
HRTech, PropTech, fintech science
RetailTech

Startup Studio; Idea to product Sustaintech Incubation and
Entrepreneur in program; Tech Xcelerator Marketing Advisory
Residence; Yearly co-founder Program
Accelerators program;
Sectors: Grow your startup Sectors: Sectors: Sectors:
Retail program; Raise Technology Sustainability Web3
capital program
Pre-Seed Seed Series A Series B Growth
SETTING UP A BUSINESS IN DUBAI

Setting up a business in Dubai is a simple process
The process of establishing a company

Did you know
in Dubai involves only a few simple steps.
setting up a business in the UAE can be done in minutes
You can apply in person at the Department
of Economic Development. Additionally,
digital platforms are available to obtain
a commercial license and establish a 10 Days 4 Days 15 Minutes
in high-income In the UAE through the Via the Basher
company online. countries, according Department of Economic online platform
to the World Bank Development
Identify nature Identify a

1 of business 3 freezone 5 7
activity (if not mainland) Apply for visa
Choose a Choose a Apply for a Open a
jurisdiction legal trade bank
2 structure 4 license 6 account
Know some of the main differences to make the right decision when
Learn more on the Ministry of Economy’s website here
choosing how and where to setup your business
Mainland Company Freezone Company Offshore Company
100% foreign ownership in more than 1,000

activities. Exclusions apply to economic activities 100% foreign
Ownership 100% foreign ownership
with strategic significance (e.g. security and ownership
defence, banks, telecommunications) (outside UAE)
Business Scope No territorial restrictions in the UAE including Primarily focus on activities outside the Only outside
UAE. 6 specific freezones offer dual the UAE
freezones & GCC
licenses allowing on/offshore activities
Govt Authorities DED, Ministry of Labor, Dubai Municipality, etc. Freezone authority only RAK, JAFZA
freezone authorities
Cost of Setup High Medium Low
Emiritisation At least 2% of skilled workforce No requirements No requirements
The process of setting up a business in Dubai varies with regulations and requirements differing based on your business
and t e specific risdiction and free one selected
Did you know

there are more than 2,000 economic Browse the various business activities here
activities in the UAE
The activity’s nature determines the license type that

will be issued.
SETTING UP
A BUSINESS
I U AI
The different legal structures
per jurisdiction
Definition Mainland Free zone Offshore
Free Zone A legal entity incorporated/registered by a single shareholder, who

Establishment (FZE) can either be an individual or a corporate entity.
Sole Proprietorship A business owned by one person, who is personally liable for all
(Sole Establishment) financial obligations and liabilities incurred by the business
Public Joint Stock A corporate entity with multiple shareholders that can offer its
Company shares to the public for trading on the stock exchange.
Branch of a Local An extension of an existing local or international company, allowing

or International it to conduct business in Dubai while remaining legally dependent
Company
on its parent company.
Free Zone Company A legal entity incorporated/registered with a minimum of two

(FZCO) shareholders, who can be either individuals or corporate entities.
Limited Liability A corporate entity with limited liability, formed by a minimum of two
Company (LLC) and a maximum of 50 shareholders, not open to public subscription
or trading of shares.
A company of this type has up to 200 shareholders with an equal

Private Joint Stock
division of capital into nominal value shares. It can be established
Company
and owned by one legal person (company), and its shares cannot be
publicly offered.
Limited Partnership A company formed of one or more general partners who have joint
(LP) and separate liability, or one or more limited partners who have
limited liability proportional to their capital shares.
General Partnership This involves two or more partners who are jointly and separately
(GP) liable for the company’s obligations using their personal funds.
Civil Company This is a company owned by two or more partners practising a

professional activity such as tailors, beauty salons, consultancy or
training, etc.
Offshore Company A corporation established in certain jurisdictions as tax-free but
(IBC) barred from conducting business within those jurisdictions.
SETTI UP A USI ESS I U AI

The different trade licenses
Industrial Licence Commercial Licence Professional Licence
Applicable to all kinds of For businesses revolving around For individuals who offer professional
manufacturing, production, packaging, buying and selling of most goods and services based on their intellectual or
segregation or collection, including the services, including import and export, artistic abilities.
manufacturing of food, textiles, paper, logistics, physical products, software,
petroleum products, and equipment construction, and real estate.
and appliances.
Dual Licence E-Trader Licence
Allows companies operating in specific free ones to extend For home-based individual or entrepreneur who sells
their presence to the mainland without the hassle of leasing products and services via social media or other online
additional o ce space or partnering with a local shareholder platforms, this licence is for you.
his is currently available in collaboration with five free ones
Free Zones which allow Dual License
100% Foreign 100% Fast and Easy Developed Numerous

Ownership Repatriation of Business Set-up Business Options at
Capital and Procedures Communities Competitive
Profits Costs
100% 100% Exemption Independent Easy Regional, Modern and

Exemption* from from Customs Laws and Global Market Sophisticated
Corporate and Duty Regulations Access Infrastructure
Income Taxes
*More details on 100% exemption on next page

Please note that for proprietorship, LLC or for other business structures, (such as public joint stock company, private joint stock company, branch
or free zone company, certain documents are required to be furnished of which some would be notarised, a month or two before setting up
business.

Understanding taxation in Dubai How are free zone business activities taxed?
In the mainland businesses face a alue Added Income of qualified Free Zone Persons
ax A and a Corporate ax applicable to
those with profits exceeding AED U D
100,000). The advantage is that there is no income Non-qualifying income ualifying income
tax for businesses in the mainland.
Revenue from Revenue from
Freezone entities are not exempt from corporate • Excluded activities • Other FZP (except
• Non-qualified excluded activities)
tax but there are qualifying and non-qualifying
activities with • Non-FZP through
Yes
business activities. Qualifying activities include non-FZP qualified activities
that are not
manufacturing or processing goods or materials; excluded
processing goods or materials; trading qualifying
commodities; holding shares for investment De-minimus rule applied 0% Corporate Tax
on qualified revenue
purposes; owning, management and operating
ships; receiving reinsurance services; fund Yes No
management services; and wealth and investment
management services. Please note that companies 9% of non- 9% of total
still need to register for corporate tax, even for qualifying income taxable income
those that have to pay 0% income tax.
Did you know

The various residence visas most countries’ corporate tax rates range between 20% and
ma ing the UAE extremely attractive
Golden Visa
This visa offers a long-term, renewable residence
visa valid for 5 or 10 years, which does not require Distribution of Worldwide Corporate Tax Rates, 2023
a sponsor. Requirements for the visa depend
70
on the type of residence, whether investor, 64
entrepreneur, etc. For example, for investors, they 60 56
must have AED 2,000,000 capital invested
50
Under the ‘Scientists & Specialists’ pathway,
applicants must now show a monthly basic 40
38
salary, excluding any allowances, of AED 30,000
to be eligible. 30
19
Green Visa 17
20 15 13
This type of residence visa allows its holder to
10
sponsor himself/herself for 5 years, eliminating 2 1
the need for a UAE national or employer to
0
0
sponsor his/her visa. Investors, freelancers, self- 0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
employed and skilled employees can apply.

Important links Did you know
most free zone authorities in Dubai impose a quota or limit on
the number of visas that can be issued to each business
Companies can increase their visa uota either by relocating to larger o ces or by applying for an
increase in the visa quota.

Opening a bank account
he final step of the process is opening a corporate ban
account. Come prepared with the right documents to
strengthen your application. While international banks
typically do not have a proposition for SMEs with annual
turnover of less than AED 50 million, some regional and
local UAE banks offer more startup-friendly propositions
To open a Business Account, you will need the following

documents:
• alid trade licence
• Memorandum of association (MOA) and amendments
(if applicable)
• Certificate of incorporation
• Board resolution
• Shareholders’ Emirates IDs and passport copies
• Proof of address
• Bank statements, etc.
Note: Documents needed may vary by banks and by

business activities. Documents need to be notarized
for branch or subsidiary entities.
Reduced setup Financial Priority access to Preferred access Exemption to

fees incentives public contracts to training and certain regulatory
development programs requirements

C
Dubai offers a plethora of free zones, as well as accelerators and incubators for a business to consider before setting up, however
based on business stage and funding stage, a startup can consider where it would make sense to get a business license from.
IDENTIFY BUSINESS STAGE
Idea, concept, business Initial customers, product Building larger operations,

plan, prototype validation significant revenue
IDENTIFY FUNDING STAGE
Late
Stage
Growth
Stage Mature Business
Early Organic growth or
Stage Company Building acquisition led
Seed Business
Larger Operations
Significant
growth
Preparation for
Acquire Initial
Pre-seed Customers
Validation
Scale Operations
Revenue exit
Product Validation
IDEA Minimum Viable
Product (MVP) Validate Market
Start Earning
Revenue
Concept Business Business Plan Measure Value
Plan Prototype
ESTABLISHING PRESENCE
INCUBATOR ACCELERATOR FREE ZONE

Helps entrepreneurs through Helps startups to scale, make Larger sized firms which have
common challenges associated valuable industry connections, already secured funding at earlier
with running a startup by find mentors, guidance, stages, and are looking to
providing workspace, seed resources and funding. establish in Dubai, can consider
funding, mentoring, and training. Free Zones to establish presence,
and serve the larger region.
Non-digital services
Edtech
Software/SAAS
Fintech
Fintech Digital Assets
Edtech Metaverse & Web3 AI
Software/SAAS Digital Assets Cybersecuriy
Healthcare AI Software/SAAS
Gaming Cybersecurity
Software/SAAS Software/SAAS
Healthcare Digital Assets
Edtech AI
Fintech AI Software/SAAS Software/SAAS

Digital Assets Cybersecurity 3D Printing 3D Printing
AI Healthcare
Cybersecurity Gaming
Software/SAAS Metaverse & Web3
Software/SAAS Edtech
3D Printing Fintech
Healthcare AI
Gaming AI
Fintech Software/SAAS
Metaverse & Web3 Cybersecurity Edtech
Digital Assets Software/SAAS
Software/SAAS 3D Printing
Gaming
Metaverse & Web3
3D Printing Software/SAAS
Software/SAAS AI Edtech
Healthcare Healthcare Healthcare
Software/SAAS 3D Printing Fintech
Healthcare Software/SAAS
Software/SAAS
Cybersecurity Digital Assets
AI
Cybersecurity
Gaming
Software/SAAS Metaverse & Web3
Software/SAAS Edtech
Non Digital Service Software/SAAS Non Digital Service
Healthcare
Fintech
Software/SAAS
AI
3D Printing
Cybersecurity
Software/SAAS
3D Printing
Software/SAAS
3D Printing Edtech Software/SAAS
Software/SAAS
Healthcare
DIGITAL SECTOR FREE ZONES

Fintech Software/SAAS Dubai Academic City Dubai International Financial Centre (DIFC) Meydan Free zone Dubai Science Patk
Digital Assets Healthcare Dubai Airport Free zone Dubai Internet City (DIC) Dubai Multi Comodities Centre (DMCC) Dubai World Trade Centre (DWTC)
Metaverse & Web3 3D Printing Dubai Car and Automotive City Dubai Knowledge Park Dubai South Dubai CommerCity
Free Zone (DUCAMZ)
AI Edtech Dubai Logistics City Dubai Studio City Dubai Maritime City
Dubai Design District
Cybersecurity Gaming Dubai Media City Dubai Techno Park a.k.a National Industries Park International Humanitarian City
Dubai Gold and Diamond Park
Non Digital Service Dubai Outsource City International Free Zone Authority (IFZA) Expo City Dubai
Dubai Healthcare City
Dubai Silicon Oasis (DSO) Dubai Production City Dubai Textile City
Dubai Industrial CIty
Dubai Technology Entrepreneur Campus (DTEC) Jebel Ali Free Zone
3D PRINTING GUIDE
Setting Up A Business In Dubai
Setup journey
Identify nature Refer to "Did you

1 of business 3 Identify a free zone 5 know" section for 7 Open a bank
activity (if not mainland) specific approvals account
Choose a Choose a Apply for a Apply for
jurisdiction legal trade license visa
2 structure 4 6 8
S MINIMUM
MINIMUM STARTING
STARTING COST:
COST: AED
AED 10,000
14,500 // YEAR
YEAR*
Facilities
Purpose-built offices, Flexi-desk coworking Private office, Flexi-desk, private Industrial land,
co-working, labs, land package, fixed desk or industrial land, office, coworking, warehouses,
plots, warehouses private office warehouses, worker’s warehouses commercial spaces,
accommodation, co-working spaces,
commercial spaces, sound stages,
open yards, boutique studios
showrooms
Permit to issue a visa Permit to secure 2 30 employment visas Permit to secure up to Permit to secure up to
for every 80 sqft. of visas per flexi-desk for spaces above 350 2 residency visas on a 1 residency visa on a
leased space sqm Flexi-desk flexi-desk else 1 visa
Visas Upt o 20 visas for per 60 sqft for an
spaces upto 350 sqm. office
Access to in5 Access to incubator, Access to Access to equipment Access to equipment

innovation centres, investment support, International Centre rental, 3D printing rental, incubator,
incubator, investment venture capitalists, for 3D Printing with labs, incubator, investment support,
Support support, MOU with corporate partner research centres and investment support, networking, events
the Ministry of Health labs, events laboratories for networking, events
which allows testing materials,
registered businesses incubator, proximity to
to apply for scientific ports
office approval
Average setup time: Average setup time: Average setup time: Average setup time: Average setup time:
~2 week 1.5 week ~4-6 weeks ~2 week ~2-3 weeks
Setup Physical presence Physical presence Physical presence Physical presence Physical presence
requirement: NO requirement: YES requirement: YES requirement: YES requirement: YES
Starts at AED 15,000 Starts at AED 14,500 Starts at AED 35,000 Starts at AED 20,000/ Starts at AED 15,000
/ YEAR; Higher for / YEAR / YEAR MINIMUM YEAR / YEAR
manufacturing license Share Capital not
starting at AED required minimum
25,000/YEAR AED 300,000 to be
shown in MOA
Dubai is a dynamic, fast-evolving environment; the information on this page may be subject to change.
Main Regulators
Accelerators, Incubators & Sandboxes
Events & Conferences
Global Additive Manufacturing

Conference & Exhibition
Did you know
Here’s what you need to know before setting up your company specialised in 3D Printing:
1. Compliance Requirements: Make sure to adhere to requirements as required across other sectors, relating to data
protection and .cybersecurity measures.
2. Business Plan and Capital: Be prepared to present a detailed business plan and proof of share capital. Make sure
to learn about guidelines for manufacturing, construction, medical products and consumer products.
3. Dubai 3D Printing Strategy: Aims to promote the status of the UAE and Dubai as a leading hub of 3D printing
technology by the year 2030. The key sectors are Construction, Medical Products, and Consumer Products.
4. Strategic Alliance: There is also a 3D Printing Strategic Alliance which is a comprehensive network of government
entities, academia and 3D printing companies.
5. Environment Regulations: Follow guidelines for sustainable practices, including waste management and energy
e ciency in D printing
6. Medical Device Regulations: 3D printed medical devices must comply with health and safety regulations.
7. Building & Construction Standards: Ensure D printed structures adhere to the guidelines specified in
Administrative Decision No. 203 of 2019.
*Given the variance in packages across different free zones, it is important to account for potential additional costs beyond the license fees.
ote: egulations and re uirements differ across Dubai’s free ones ma ing it essential to thoroughly research and understand the specific rules of
each zone before establishing your business. Seeking professional advice from legal experts and regulatory authorities is recommended to ensure full
compliance with local laws and regulations.
Additional Approvals:
• May be required from Chamber of Commerce and Industry Membership, Dubai Municipality, Department of Economy & Tourism, Dubai Civil Defence,
Dubai Police, Dubai Immigration, Telecommunications and Digital Government Regulatory Authority and Dubai Data Establishment
• Businesses planning to have foreign investment in their companies may need to get additional approvals and clearance from the Foreign Direct
Investment ce
• lease chec specific sectors and related authorities
ARTIFICIAL INTELLIGENCE GUIDE

Setup journey

2 structure 4 6 8
S MINIMUM
MINIMUM STARTING
STARTING COST:
COST: AED
AED 10,000
14,500 // YEAR
YEAR*
Facilities
Flexi-desk coworking package, Flexi-desk Purpose-built Flexi-desk, coworking Flexi-desk, fixed
dedicated desk or private/closed coworking offices, desk or private
spaces, dedicated
office. Meeting rooms, theatre package, fixed co-working, office
and event centres offices
desk or private labs, land Has a DMCC AI Centre
Has Dubai AI Campus, offering
subsidi ed commercial license office plots,
for AI License warehouses
Permit to secure up to 4 Permit to Permit to issue a visa Permit to secure up Permit to secure up
visas on a flexi desk secure 2 visas for every 80 sqft. of to 1 visa on a basic to 2 visas on a
Visas per flexi-desk leased space package flexi-desk
wn Common Law udicial Access to Access to in5 Access to Access to incubator,

system, independent incubator, innovation centers, knowledge series investment support,
risk-based regulator, access investment incubator, investment and sector clubs, innovation centres,
Support to accelerators, investment support, venture support, MOU with subsidised licenses prototyping labs,
support, venture capitalists, capitalists, the Ministry of Health through technology networks,
events corporate which allows ecosystem builder workshops and
partner labs, registered Astrolabs events
events businesses to apply
for scientific office
approval
Average setup time: Average setup Average setup time: Average setup time: Average setup time:
6 weeks time: 1.5 week ~2 week 1 week 1 week
Setup Physical presence Physical Physical presence Physical presence Physical presence
requirement: YES presence requirement: NO requirement: NO requirement: YES
requirement: YES
Starts at AED Starts at AED Starts at AED 35,484/ Starts at AED
27,700 / YEAR Starts at AED 15,000/ YEAR YEAR (basic Biz 40,000 / YEAR
(AED 22,200 for 14,500 / YEAR Higher for ac age
flexi desk and AED manufacturing
5,500 for license starting at
Innovation License AED 25,000/YEAR
Main Regulators
Did you know
he UAE has a ational Artificial Intelligence trategy ADGM Data Protection Regulations.
2031, which was launched in 2017, and simultaneously 3. Recent Regulations:
also appointed the world’s first inister of tate for • AI Ethics Guidelines (2024): Framework for ethical AI
Artificial Intelligence he UAE also has the world’s first development and deployment across sectors.
AI university ohamed bin ayed University of Artificial • ational AI Certification rogram 2 2 : Certify AI
Intelligence. Here’s what you need to know before setting systems for compliance with UAE regulations.
up your company specialised in AI: • Enhanced Data Protection Amendments (2024):
Updates to existing data protection laws to address
1. DUB.AI: The government announced the launch of new AI technologies.
a Dubai Universal Blueprint for Artificial Intelligence’ 4. AI & Coding License: The DIFC offers a special
which is designed to accelerate the adoption of Artificial Intelligence AI and coding license in
AI applications cooperation with the UAE Artificial Intelligence ce
2. Compliance Requirements: Adhere to UAE’s data Companies holding the license will be able to work
protection laws such as DIFC Data Protection Law and within the DIFC Innovation Hub.
Investment ce
CYBERSECURITY GUIDE
Setup journey
2 structure 4 6 8
S MINIMUM
MINIMUM STARTING
STARTING COST:
COST: AED
AED 10,000
12,500 // YEAR
YEAR*
Facilities
Flexi-desk coworking package, Flexi-desk Flexi-desk, Flexi-desk, Flexi-desk, fixed
dedicated desk or private/closed coworking coworking spaces, serviced offices desk or private
office. Meeting rooms, theatre and package, fixed dedicated offices or private offices office
event centres desk or private with option to buy
Has Dubai AI Campus, offering office
subsidi ed commercial license for
AI License
Permit to secure up to 4 visas on Permit to secure 0, 1, 3 and 6 visa Permit to secure Permit to secure
a flexi desk 2 visas per packages up to 1 visa on a up to 2 visas on
flexi-desk basic package a flexi-desk
Visas
wn Common Law udicial Access to Meydan Plus: Access to Access to

system, independent risk-based incubator, integration to knowledge series incubator,
regulator, access to investment online and sector clubs, investment
Support accelerators, investment support, venture marketplaces, subsidised support,
support, venture capitalists, capitalists, payment licenses through innovation
events corporate partner gateways, and technology centres,
labs, events access to ecosystem builder prototyping labs,
warehouse Astrolabs networks,
facilities workshops and
events
Average setup time: Average setup Average setup Average setup Average setup
6 weeks time: 1.5 week time: time: time:
4 weeks 1 week 1 week
Physical presence requirement: Physical
Setup YES presence Physical presence Physical Physical
requirement: YES requirement: NO presence presence
Starts at AED 27,700 / YEAR requirement: NO requirement:
(AED 22,200 for flexi desk and Starts at AED Starts at AED YES
AED 5,500 for Innovation 14,500 / YEAR 12.500 / YEAR Starts at AED
License without visa 35,484 / YEAR Starts at AED
AED 14,350 / (basic Biz 40,000 / YEAR
EA visa ac age
Main Regulators
Did you know
UAE was ran ed fifth globally for a robust cybersecurity infrastructure as per the lobal Cybersecurity Index
2020 report, issued by International Telecommunication Union.
Here’s what you need to know before setting up your company specialised in Edtech:
1. Compliance Requirements: Adhere to UAE’s data protection laws such as DIFC Data Protection Law. Additionally
ensure compliance with sector specific regulations if your solution pertain to a specific sector a e sure to learn
about Information Security Regulations (ISR) issued by the Dubai Electronic Security Center.
2. Business Plan and Capital: Be prepared to present a detailed business plan and proof of share capital.
3. Dubai Cyber Security Strategy (by Dubai Electronic Security Center): Launched the second cycle in 2023, it focuses
on four key pillars, of which one is an incubator city for innovation. The facility will help to support the early stages of
growth for many cyber security startups.
4. Key Federal Laws to adhere to and NOT violate:
• UAE Cybercrime Law: The Federal Decree-Law No. 34 of 2021 on Combatting Rumours & Cybercrimes outlines
criminal offenses related to hacking, unauthorized access, data breaches, and other cybercrimes.
• Data Protection Law: Federal Decree-Law No. 45 of 2021 on the Protection of Personal Data regulates the processing
of personal data and imposes obligations on data controllers and processors to protect personal information.
Investment ce
DIGITAL ASSETS GUIDE

Setup journey
Apply for
Initial approval
1 Choose a legal 3 from VARA, DIFC or SCA 5 regulatory 7 Open a bank
structure depending on activity license account
Identify nature Identify a Apply for a Apply for
of business free zone commercial visa
activity 2 4 license 6 8
MINIMUM STARTING COST: AED 12,500 / YEAR*

S + VARA/VASP license if required
Facilities Flexi-desk coworking Flexi-desk Flexi-desk, Flexi-desk, Offers Flexi-desk,

package, dedicated desk coworking coworking spaces, coworking spaces, Executive, Standard
or private/closed office. package, fixed desk dedicated offices dedicated offices and flexible offices,
Meeting rooms, theatre or private office Has a DMCC serviced business
and event centres Crypto Centre centers event spaces
Has Dubai AI Campus,
offering subsidized
commercial license for
AI License
Permit to secure up to Permit to secure 2 0, 1, 3 and 6 visa Permit to secure up Offer various packages
4 visas on a flexi desk visas per flexi-desk packages to 1 visa on a basic with 2 and
package visas.
Visas
wn Common Law Access to Meydan Plus: Access to Has separate offerings

judicial system, incubator, integration to online knowledge series for Startups, Virtual
independent risk-based investment marketplaces, and sector clubs, Assets, Home Business
Support regulator, access to support, venture payment gateways, subsidised licenses and Family Offices
accelerators, investment capitalists, and access to through technology Home Business
support, venture corporate partner warehouse facilities ecosystem builder packages allow setup
capitalists, events labs, events Astrolabs in Expo City Dubai
without the running
costs of a dedicated
office
Average setup time: Average setup Average setup time: Average setup Average setup time:
6 weeks time: 1.5 week 4 weeks time: 3 weeks
1 week
Physical presence Physical presence Physical presence Physical presence
Setup
requirement: YES requirement: YES requirement: NO Physical presence requirement: YES
requirement: NO
Starts at AED 27,700 / Starts at AED Starts at AED Starts at AED 31,300 /
YEAR (AED 22,200 for 14,500 / YEAR 12.500 / YEAR Starts at AED YEAR (Flexi-desk
flexi desk and AED 5,500 without visa 35,484 / YEAR ac age
for Innovation License AED 14,350 / YEAR basic Bi ac age
visa
Main Regulators
Did you know
In 2 2 A A emerged as the leading global regulatory body for irtual Assets issuing regulated irtual Asset ervice
rovider A licenses with operational and 2 Initial Approvals for new entrants
1. Virtual Asset Service Provider (VASP) Requirements:

• Licensing: Requires a regulatory license and a commercial license to operate. Regulatory approval from SCA or local
licensing authority required before applying for a commercial license.
• Compliance: Adherence to UAE federal anti money laundering regulations and Financial Action as Force standards
2. Licensing Authorities:
• A A License: e uired for all activities in Dubai including issuance trading and custody of virtual assets
• DIFC License: Necessary for businesses operating under DIFC Digital Assets Law.
• SCA Approval: Required for activities regulated at the federal level.
3. Fees & duration
• Timeframes can range between 4 weeks to several months at the regulator’s discretion.
• Application Fees from AED to AED and upervision Fees from AED to AED 2 annually
4. Licensing Levels:
• rovisional: Initial license for minimal operations
• reparatory: Allows further development and preparation for full operations
• perational: License for full operations under conditions
• FMP Operational: Full market product license for complete operational capability.
Investment ce
EDTECH GUIDE
Setup journey

2 structure 4 6 8
S MINIMUM
MINIMUM STARTING
STARTING COST:
COST: AED
AED 10,000
14,500 // YEAR
YEAR*
Facilities
Shared office, open Flexi-desk coworking Flexi-desk, serviced Flexi-desk, private Flexi-desk, fixed desk
office, private office, package, fixed desk or offices or private office, coworking, or private office
executive suites and private office offices with option to warehouses
coworking spaces buy
Permit to secure 1 Permit to secure 2 Permit to secure up to Permit to secure up to Permit to secure up to
visa per 80 sq ft of visas per flexi-desk 1 visa on a basic 2 residency visas on a 2 visas on a flexi-desk
working space leased package Flexi-desk
Visas
Access to incubator, Access to incubator, Access to knowledge Access to equipment Access to incubator,
investment support, investment support, series and sector rental, 3D printing investment support,
networking, events venture capitalists, clubs, subsidised labs, incubator, innovation centres,
Support corporate partner licenses through investment support, prototyping labs,
labs, events technology networking, events networks, workshops
ecosystem builder and events
Astrolabs
1 week 1.5 week 1 week ~2 week 1 week
requirement: NO requirement: YES requirement: NO requirement: YES requirement: YES
Starts at AED 15,000 Starts at AED Starts at AED 35,484 Starts at AED 20,000 Starts at AED 40,000
/ YEAR 14,5000 / YEAR / YEAR (basic Biz / YEAR / YEAR
Package)
Main Regulators
Did you know
Here’s what you need to know before setting up your 4. Quality Assurance: All institutions in Dubai outside
company specialised in Edtech: of the Free Zones must be licensed and accredited
1. Compliance Requirements: Firms with fully online by the CAA.
offerings are subject to article 11 (1) of the Federal 5. Innovative Initiatives: Dubai’s Smart City initiative
Law No. 2 of 2015 (the Companies Law), where all includes a strong focus on smart education,
necessary approvals and licenses are needed to promoting the use of advanced technologies like AI
operate in the UAE. and in classrooms
2. Business Plan and Capital: Be prepared to present a 6. Other things to note: Learn about information and
detailed business plan and proof of share capital. communication technology in education fields
3. Marketing and Advertising: Dubai Knowledge (KHDA) intellectual property protection, data protection and
reviews all types of advertisements and media material privacy and content approval for distribution.
– especially for those that are focused on student
enrolment.
Investment ce
FINTECH GUIDE
Setup journey
Identify nature Refer to did you

1 of business 3 Identify a free zone 5 know for specific 7 Open a bank
activity (if not mainland) approvals account
jurisdiction legal trade visa
2 structure 4 license 6 8
S MINIMUM
MINIMUM STARTING
STARTING COST:
COST: AED
AED 10,000
12,500 // YEAR
YEAR*
Facilities Flexi-desk coworking package, Flexi-desk Flexi-desk, Flexi-desk, Flexi-desk, fixed

dedicated desk or coworking coworking serviced offices desk or private
private/closed office. Meeting package, spaces, or private office
rooms, theatre and event fixed desk dedicated offices offices with
centres or private option to buy
Has Dubai AI Campus, offering office
subsidized commercial license
for AI License
Permit to secure up to Permit to 0, 1, 3 and 6 visa Permit to secure Permit to secure

4 visas on a flexi desk secure 2 visas packages up to 1 visa on a up to 2 visas on
Visas per flexi-desk basic package a flexi-desk
Meydan Plus: Access to Access to

Own Common Law Access to integration to knowledge incubator,
judicial system, incubator, online series and investment
independent investment marketplaces, sector clubs, support,
Support risk-based regulator, support, payment subsidised innovation
access to venture gateways, and licenses through centres,
accelerators, capitalists, access to technology prototyping labs,
investment support, corporate warehouse ecosystem networks,
venture capitalists, partner labs, facilities builder workshops and
events events Astrolabs events
Average setup time: Average setup Average setup Average setup Average setup
6 weeks time: 1.5 week time: time: time:
4 weeks 1 week 1 week
Physical presence Physical
requirement: YES presence Physical presence Physical Physical
Setup requirement: requirement: NO presence presence
Starts at AED 27,700 YES requirement: NO requirement:
/ YEAR (AED 22,200 Starts at AED YES
for flexi desk and AED Starts at AED 12.500 / YEAR Starts at AED
5,500 for Innovation 14,500 / YEAR (without visa) & 35,484 / YEAR Starts at AED
License) AED 14,350 / (basic Biz 40,000 / YEAR
YEAR (1 visa) Package)
Main Regulators
Did you know
etting up a fintech business in Dubai re uires navigating a robust regulatory landscape Here’s what you need to now:
1. Compliance Requirements: Ensure your fintech startup adheres to Anti oney Laundering A L and now our
Customer (KYC) regulations mandated by the Central Bank of the UAE (CBUAE). Data security must meet the
standards set by the National Electronic Security Authority (NESA), and custody regulations from the Securities and
Commodities Authority CA and irtual Assets egulatory Authority A A may also apply
2. Licensing: Depending on your fintech service you’ll need a license from either the Dubai Financial ervices
Authority DF A or the CBUAE ervices li e payment solutions or crowdfunding platforms have specific licensing
requirements.
4. Innovation Support: he DF A offers initiatives li e the Innovation esting License I L allowing fintech startups to
test their products in a controlled environment.
5. Recent Regulations: n April 2 2 2 the CBUAE introduced two significant fintech regulations:
• Open Finance Regulation: Establishes an pen Finance Framewor with phased onboarding starting with ban s
and insurers.
• Sandbox Conditions Regulation: Provides exemptions from certain licensing standards to foster innovation.
Investment ce
GAMING GUIDE
Setup journey
Identify nature Identify a Apply for Metaverse

1 of business 3 free zone 5 Services provider 7 Apply for
9
(if not mainland) license
activity (if applicable) visa
Choose a Choose a Apply for a Refer to "Did you Open a bank
jurisdiction legal trade license know" section for account
2 structure 4 6 specific approvals 8
MINIMUM STARTING COST: AED 12,500 / YEAR*

S + Metaverse license if required
Facilities
Flexi-desk, coworking Flexi-desk coworking Flexi-desk, coworking Flexi-desk, coworking Flexi-desk, fixed desk
spaces, dedicated package, fixed desk or spaces, dedicated spaces, dedicated or private office
offices private office offices, boutique offices
studios, sound Has a DMCC Gaming
stages, warehouses Centre
0, 1, 3 and 6 visa Permit to secure 2 From 2 visas for an Permit to secure up to Permit to secure up to
packages visas per flexi-desk exclusive desk at the 1 visa on a basic 2 visas on a flexi-desk
business center else 1 package
Visas visa per 60 sqft for an
office
Meydan Plus: Access to incubator, Access to incubator, Access to knowledge Access to incubator,
integration to online investment support, investment support, series and sector investment support,
marketplaces, venture capitalists, mentorship, clubs, subsidised innovation centres,
Support payment gateways, corporate partner workshops and licenses through prototyping labs,
and access to labs, events events technology networks, workshops
warehouse facilities ecosystem builder and events
Astrolabs
4 weeks 1.5 week ~3-4 weeks 1 week 1 week
requirement: NO requirement: YES requirement: NO requirement: NO requirement: YES
Starts at AED 12.500 Starts at AED 14,500 Starts at AED 40,000 Starts at AED 35,484 Starts at AED 40,000
/ YEAR (without visa) / YEAR / YEAR for exclusive / YEAR (basic Biz / YEAR
& AED 14,350 / YEAR desk at business Package)
(1 visa) center
Main Regulators
Did you know
Here’s what you need to know before setting up your company specialised in Gaming:
1. Compliance Requirements: Adhere to UAE’s data protection laws such as DIFC Data Protection Law. Possibly might
have to host servers locally to ensure compliance.
3. Regulations: Make sure to learn the local regulations for operating in the metaverse as well as virtual assets
governed by Dubai’s irtual Assets egulatory Authority A A
4. Dubai Cyber Security Strategy (by Dubai Electronic Security Center): Launched the second cycle in 2023, it focuses
on four key pillars, of which one is an incubator city for innovation. The facility will help to support the early stages of
growth for many cyber security startups.
5. Gaming Program: There’s a Dubai Program for Gaming 2033 with an objective establish an incubating environment
for developers and to draw leading technology companies from across the globe, particularly those specialising in
digital content and experiences. Objectives include creation of 30,000 jobs, increase GDP by US$ 1 billion and make
Dubai a leading city in Gaming.
Investment ce
HEALTHTECH GUIDE
Setup journey
Identify nature Identify a Liability

1 of business 3 free zone 5 Dubai Health
Authority approval
7 Insurance 9 Open a bank
activity (if not mainland) (if applicable) (if applicable) account
Choose a Choose a Apply for a Refer to "Did you Apply for
jurisdiction legal trade license know" section for visa
2 structure 4 6 specific approvals 8 10
S MINIMUM
MINIMUM STARTING
STARTING COST:
COST: AED
AED 10,000
14,500 // YEAR
YEAR*
Facilities
Issues commercial Flexi-desk coworking Purpose-built offices, Flexi-desk, coworking Flexi-desk, fixed desk
license for both package, fixed desk or co-working, labs, land spaces, dedicated or private office
clinical facilities as private office plots, warehouses offices
well as non-clinical
facilities. There is also
a separate operating
permit required.
Permit to secure up to Permit to secure 2 Permit to issue a visa Permit to secure up to Permit to secure up to
2 residency visas; visas per flexi-desk for every 80 sqft. of 1 visa on a basic 2 visas on a flexi-desk
number of visas leased space package
Visas varies depending on
size of facility
Access to Dubai Access to incubator, Access to in5 Access to knowledge Access to incubator,
Healthcare City investment support, innovation centers, series and sector investment support,
Accelerator and venture capitalists, incubator, investment clubs, subsidised innovation centres,
Support network of partners corporate partner support, MOU with licenses through prototyping labs,
and patients labs, events the Ministry of Health technology networks, workshops
which allows ecosystem builder and events
registered businesses Astrolabs
to apply for scientific
office approval
~10 weeks 1.5 week ~2 week 1 week 1 week
Physical presence Physical presence Physical presence Physical presence Physical presence
Setup
requirement: YES requirement: YES requirement: NO requirement: NO requirement: YES
Starts at AED 60,000 Starts at AED 14,500 Starts at AED 15,000 Starts at AED 35,484 Starts at AED 40,000
/ YEAR (AED for / YEAR / YEAR; Higher for / YEAR (basic Biz / YEAR
Private offices; AED manufacturing license Package)
35,000 / YEAR for starting at AED
coworking executive 25,000/YEAR
desks
Main Regulators
Did you know
3. Licensing: Healthtech products and services

must be licensed and registered with the
relevant authorities such as DHA and/or
Innovation in healthcare would revolve on the future
MOHAP.
technologies of Artificial Intelligence obotics Bloc chain
4. AI Lab Initiative: Digital Dubai has developed
Metaverse and Internet of Things (IoT).
a new AI use case in the healthcare sector
as part of its AI Lab initiative, conducted in
Here’s what you need to know before setting up your
collaboration with the Dubai Health Authority
company specialised in Healthtech:
(DHA) and IBM
1. Compliance Requirements: Adhere to UAE’s data
5. Key Guidelines:
protection laws such as the Federal Law No. 2 of
• DHA Guidelines for Health Information
2019 on the Use of Information and Communication
Exchange (HIE) (2022)
Technology in Health Fields, especially in telemedicine
• DHA tandards for Artificial Intelligence AI in
where patient data is crucial.
Healthcare (2022)
2. Business Plan and Capital: Be prepared to present a
• DHA Telehealth Regulations (2021)
detailed business plan and proof of share capital.
• May be required from Chamber of Commerce and Industry Membership, Dubai Municipality, Department of Economy & Tourism, Dubai Health
Authority, Dubai Civil Defence, Dubai Police, Dubai Immigration, Telecommunications and Digital Government Regulatory Authority and Dubai Data
Establishment
Investment ce
METAVERSE & WEB3 GUIDE

Setup journey
Refer to "Did you
1 Choose a legal 3 Apply for a trade 5 know" section for 7 Open a bank
structure license specific approvals account
Identify nature Identify a Apply for a Apply for
of business free zone Metaverse Service visa
activity 2 4 provider license 6 8
S MINIMUM STARTING COST: AED 12,500 / YEAR*

+ VARA/VASP license if required
Facilities
Flexi-desk coworking package, Flexi-desk Flexi-desk, coworking Flexi-desk, Flexi-desk, fixed
dedicated desk or private/closed coworking spaces, dedicated coworking desk or private
office. Meeting rooms, theatre package, fixed offices spaces, office
and event centres desk or private dedicated offices
Has Dubai AI Campus, offering office Has a DMCC
subsidized commercial license Crypto Center
for AI License
Permit to secure up to Permit to 0, 1, 3 and 6 visa Permit to secure Permit to secure

4 visas on a flexi desk secure 2 visas packages up to 1 visa on a up to 2 visas on
per flexi-desk basic package a flexi-desk
Visas
Own Common Law judicial Access to Meydan Plus: Access to Access to

system, independent risk-based incubator, integration to online knowledge incubator,
regulator, access to investment marketplaces, series and investment
Support accelerators, investment support, payment gateways, sector clubs, support,
support, venture capitalists, venture and access to subsidised innovation
events capitalists, warehouse licenses through centres,
corporate facilities technology prototyping labs,
partner labs, ecosystem networks,
events builder Astrolabs workshops and
events
Average setup time: Average setup Average setup time: Average setup Average setup
6 weeks time: 1.5 week 4 weeks time: time:
1 week 1 week
Physical presence requirement: Physical Physical presence
Setup YES presence requirement: NO Physical presence Physical
requirement: requirement: NO presence
Starts at AED 27,700 / YEAR YES Starts at AED requirement:
(AED 22,200 for flexi desk and 12.500 / YEAR Starts at AED YES
AED 5,500 for Innovation Starts at AED (without visa) & 35,484 / YEAR
License) 14,500 / YEAR AED 14,350 / YEAR (basic Biz Starts at AED
(1 visa) Package) 40,000 / YEAR
Main Regulators
Did you know

Dubai’s Metaverse Strategy is to propel Dubai into a top 10 global metaverse economy, attract over 1,000 blockchain
and metaverse companies, and create more than 40,000 virtual jobs by 2030. Dubai is already home to over 1,000
companies in the metaverse and blockchain sector. As the city attracts new players, the sector’s current contribution of
million to the UAE’s economy is estimated to increase significantly he Dubai etaverse trategy aims to support
more than virtual obs by 2 and add billion to Dubai’s economy in five years
Metaverse Service Provider license

A Metaverse Service Provider license is also required for startups involved in the hosting and development of virtual
environments and is available through government authorities including Dubai Economy and Tourism (DET), Dubai
Silicon Oasis Authority (DSOA), Dubai Multi Commodities Center (DMCC) and the Dubai AI and Web 3.0 Campus via the
Dubai International Financial Centre (DIFC).
To acquire a metaverse license and begin a metaverse business in Dubai, the following actions must be taken: Creating
a 3D universe for the brand; creating metaverse on the website; publishing some other metaverse applications on the
metaverse site; and then applying to register for a metaverse license. This license doesn’t allow for crypto asset trading
or the creation and issue of exchange-tradable tokens. The total cost of a Metaverse Services license varies from AED
15,999 to AED 27,000 based on the type of business that the provider wants to establish in the metaverse, as well as the
service or goods to be offered.
Establishment
Investment ce
SOFTWARE/SAAS GUIDE
Setup journey
2 structure 4 6 8
S MINIMUM
MINIMUM STARTING
STARTING COST:
COST: AED
AED 10,000
14,500 // YEAR
YEAR*
Facilities
Smart desk, private Flexi-desk coworking Open space, desk and Flexi-desk, coworking Flexi-desk, fixed desk
offices, shell and core package, fixed desk or fully furnished office spaces, dedicated or private office
space, warehouses private office space as well as a offices
and event facilities business centre with Has a DMCC Tech
boardrooms, meeting Center and the DMCC
rooms, auditoriums E-commerce Center
and event spaces
Permit to secure up to Permit to secure 2 Offer various Permit to secure up to Permit to secure up to
2 visas on a flexi desk visas per flexi-desk packages with 1, 2, 3 1 visa on a basic 2 visas on a flexi-desk
and 6 visas based on package
Visas office size
Special arrangements Access to incubator, Access to incubator, Access to knowledge Access to incubator,
for customs duties investment support, investment support, series and sector investment support,
and import/export venture capitalists, strategic partner clubs, subsidised innovation centres,
Support duties. Also offers a corporate partner introductions and licenses through prototyping labs,
bonded warehouse, labs, events Metaverse platform technology networks, workshops
so duties do not have METADAFZ to ecosystem builder and events
to immediately be conduct virtual Astrolabs
paid upon entering meeting
the region. Also is
known for offering
e-commerce
enablement
ecosystem.
2 weeks 1.5 week 2 weeks 1 week 1 week
requirement: NO requirement: YES requirement: NO requirement: NO requirement: YES
Starts at AED 29,000 Starts at AED 14,500 Starts at AED 41,625 Starts at AED 35,484 Starts at AED 40,000
/ YEAR for a smart / YEAR / YEAR (wtih 6 sqm / YEAR (basic Biz / YEAR
desk office per year) Package)
Main Regulators
Did you know

Here’s what you need to know before setting up your company specialised SaaS/Software:
1. Compliance Requirements: Adhere to UAE’s data protection laws such as DIFC Data Protection Law. Additionally
ensure compliance with sector specific regulations if your solution pertain to a specific sector a e sure to also
understand Copyrights Law, cybercrime Law, Consumer Protection Law and the Protection of Personal Data .
3. Regulatory Framework:
• eTransactions law provides provisions for eTransactions and the way eDocuments should be stored, saved, sent and
received.
• API First Guidelines provides a set of high-level guidelines with design and implementation guidance, along with low-
level API best practices to guide government entities in their development of APIs.
4. Sandboxes:
• Global TradeTech Sandbox: aims to spark innovation in trade technology
• ICT Regulatory Sandbox: an agile regulatory environment to launch innovative ICT services and solutions
• RegLab: launched in 2019, it is designed to proactively anticipate and develop future legislation governing the use
and applications of emerging technologies
• ITL Programme: Created by Dubai Financial Services Authority, the Innovation Testing Licence Programme allows for
testing of new and innovative financial products services and business models
• Insurance andbox: he CB UAE issued issued andbox egulation to define the regulatory framewor for the
operation and management of the experimental environment of the insurance sector
Establishment
Investment ce
Investors Speak
DUBAI FROM
THE LENS OF
U AI UTURE
To watch the full
interview, please
scan the QR code
ISTRICT U
The Dubai Future District Fund (DFDF) access to global markets
stands out due to its strategic vision • Business-Friendly Environment:
of fostering a future-ready economy. Low taxes, robust infrastructure, and
Its mission is to support startups that supportive regulations
align with Dubai’s vision of becoming a • Innovation Hub: Strong emphasis on
global hub for innovation. Structurally, technology, smart city initiatives, and
DFDF is unique because it operates sustainability
at the intersection of government • Access to Funding: ibrant investor
support and private sector dynamism, ecosystem with ample venture
offering funding, strategic guidance capital and government funding
and access to an extensive network. Its opportunities
current focus is on investing in sectors • Quality of Life: Safe, cosmopolitan
like AI, fntech, healthtech, proptech city with world-class amenities and a
and sustainability ensuring they can diverse talent pool
nurture startups that will drive the next
wave of economic growth and digital What has Dubai done right to attract the
transformation. Let’s hear more from startup investor ecosystem and be an
the Managing Director of DFDF, Nader Al investor hotspot in the region?
Bastaki Dubai has successfully created a robust
ecosystem for startups and investors
If you had to give a 30-second elevator through several key initiatives:
pitch on what makes Dubai the right • Regulatory Frameworks:
place for a startup to establish itself, Implementation of business-friendly
what are the bullet points? policies and free zones that simplify
• Strategic Location: Gateway the setup process and offer tax
between East and West, offering incentives
• Government Support: Initiatives like

Dubai Future Accelerators (DFA) and
DFDF provide essential funding and
mentorship
• Innovation Infrastructure:
Establishment of innovation hubs, co-
working spaces, and incubators that
foster collaboration and growth
• Events and Networking: Hosting global
events like GITEX and Expo 2020,
which draw international attention and
investment
• Strategic Vision: A clear commitment to
becoming a digital economy capital by
2030, backed by substantial public and
private investment
Since 2017, Dubai startups have attracted

a stellar 95%+ of all startup funding into
the UAE, as nearly 90% of the UAE’s startup
ecosystem is concentrated in Dubai. What
has Dubai done right in comparison to, not
just the other Emirates, but also the larger
region?
Dubai’s success can be attributed to several
strategic advantages:
• Comprehensive Ecosystem: Integration
of various stakeholders including
government, private sector, and
academia to create a cohesive startup
environment
• Innovation-Friendly Policies:
Progressive regulations that encourage
entrepreneurship and protect intellectual
property
• Global Connectivity: Superior logistics
and transport links that facilitate
international trade and investment
• Talent Attraction: Quality of life that
attracts global talent
• Funding Availability: Concentration of
venture capital and investment funds for
the startup sector
How does the Dubai startup ecosystem

support founders, entrepreneurs, and
startups, specifically?
Dubai offers a plethora of resources and
programs for startups such as DFA, DIFC
Innovation Hub, In5 Innovation Centres,
What does the future hold for the

Dubai startup ecosystem? What can
it improve, or what do you see it
working on?
The future is bright for Dubai’s
startup ecosystem, with continuous
improvements in infrastructure,
funding, and regulatory frameworks.
However, there are areas for
enhancement, such as increasing
support for early-stage startups, further
streamlining regulatory processes, and
enhancing access to global markets.
The focus will likely be on deepening
Dubai Silicon Oasis, Astrolabs, Dubai about how a startup has found success
the tech talent pool, fostering more
Startup Hub, and various government because they set up here in Dubai.
public-private partnerships, and
grants like the Mohammed Bin Rashid Yes, there are several success stories.
promoting AI and sustainability-driven
Innovation Fund. ithin our portfolio Holo benefited from
startups.
a burgeoning real estate market and
Dubai has set its sights on becoming an increasingly digital society. Camb.
Do you think all the ingredients are
a digital economy capital of the world ai also graduated from a DFA and are
in place to successfully develop 30
by the end of this decade and has making great strides in the AI space.
unicorns by 2033?
opened its borders with an array of itopi also benefited from the uality
Yes, the foundational elements are in
visa options, and various initiatives of the logistical infrastructure as well
place strong government support
to attract advanced technology as a large F&B sector which made for a
a vibrant investment ecosystem,
companies and talent to set up in perfect launchpad. Dubz were plugged
strategic geographic positioning, and
Dubai. Why is ease-of-access, ease-of- into Dnata by the interlak accelerator
a growing pool of talent. Continuous
doing-business, and fundraising, and program, who greatly supported and
efforts to foster innovation, attract top
attracting tech talent so important for subsequently acquired them.
global talent, and maintain a favorable
Dubai?
business climate will be essential to
Ease-of-access and ease-of-doing- How have you seen Dubai’s funding
achieving this ambitious goal.
business are crucial because they lower environment change in the last 10
barriers for entry, allowing more startups years and what has surprised or
to establish themselves quickly and impressed you the most as Dubai
e ciently Fundraising and attracting is developing into a leading digital
tech talent are vital to fostering economy?
innovation and sustaining growth. By Dubai’s funding environment has evolved
simplifying these processes, Dubai from a nascent market to a more mature
ensures that it remains competitive ecosystem. The government’s proactive
on the global stage, attracts the best approach in establishing funds and
minds, and facilitates the rapid scaling supporting incubators has been a key
of businesses, which in turn drives driver. The collaborative culture between
economic growth and diversification public and private sectors to drive
innovation is particularly noteworthy.
Are there startups in your portfolio The supportive ecosystem provided by
that have gained advantage from the the government has led to an increase
infrastructure and support systems in startups and growth in C funding
provided in Dubai specifically? Any re ecting increased investor confidence
specific examples of where they set and interest in the region’s startup
themselves up? Any tale you can share ecosystem.
Investors Speak
WHAT DUBAI’S
ACTIVE VENTURE
CAPITALISTS HAVE
TO SAY ABOUT
THE STARTUP
ECOSYSTEM IN THE
UAE AND DUBAI
Dubai often hailed as the City of Dreams in the iddle East stands tall not ust for its iconic s yline but increasingly as a
beacon for startups and investment managers seeking fertile ground for their ventures. Delving into the sentiments echoed
by venture capitalists and investors reveals a resounding consensus: Dubai has emerged as a prime location ripe with
opportunities and promise.
“ e believe that the UAE will be a gateway for financial infrastructure to

Africa and outh East Asia similar to Hong ong and ingapore he
UAE has embraced innovation and technology creating opportunities
for fund managers to explore investments in fintech and related
sectors For example the UAE is in the leading group of thought leaders
regarding the implementation of CBDCs and bloc chain infrastructure
Its geographic location ma es it an ideal centre for fund managers to
access mar ets in the iddle East Africa and Asia
Melissa Cannon Guzy

Co-Founder and Managing Partner, Arbor Ventures (HK-based)
“
Dubai has become a hub that attracts people from all over the world,
and the resulting inbound migration has created a talent density unlike
anything we have seen before. Business ideas are now being generated
here, built, scaled, and exported to the world.”
Amir Farha
Founding Partner, COTU Ventures (Dubai-based)
“
The UAE, in particular, is an enabler for regional and global businesses,
whether it is through its strategic location between Asia, Africa,
and Europe, its connection to these markets, the ease of setting up
businesses or its strong macroeconomic fundamentals including high
GDP per capita, record smartphone and internet penetration rates,
and a sizable youth population. The UAE government is continuously
investing in the ecosystem’s development; its exponential growth
will continue into the next decade and beyond.”
Noor Sweid
Founder and Managing Partner, Global Ventures (Dubai-based)
“
Dubai is arguably the best city in the world to work hard and raise a family. Dubai
consistently ranks as the best city in the world to live, work and play due to the
city’s safety, cleanliness, quality of life, convenience, and ease of doing business.”
Youcef Oudjidane
Managing Partner, Byld Ventures
(Dubai-based)
“
The ecosystem here has experienced rapid development in recent years,
highlighted by the entry of sophisticated players at each point of the value chain.
This environment in the UAE has fostered a virtuous cycle where all participants,
including the government, regulators, funds of funds, sovereign wealth entities,
fund managers incubators financial exchanges ban s law firms and most
importantly companies and founders collaborate and grow together
Mahmoud Adi
Founding Partner, Shorooq Ventures (Abu Dhabi-based)
“
The UAE is a vibrant hub for technology and innovation and the rate of
digitalization of traditional sectors is on par with anywhere in the world.
Business-friendly regulations promote faster go-to-market; and access
to a vibrant investor pool makes business plans viable in the long run.
The presence of a diverse and skilled talent pool from Asia, Africa,
Europe and America augmented by initiatives like the UAE Golden Visa
strengthens the country’s ability to deliver world-class technology.”
Walid Mansour
Co-CEO, Middle East Venture Partners (Dubai-based)
Let’s hear more from them and

understand what makes Dubai tick.
C
Chainalysis does and the problem it
is looking to solve?
Driven by proactive policies and Businesses and governments around
Startup Perspectives
a commitment to innovation, the world are using blockchains
Successfully
the UAE is emerging as a leader to ma e financial services more
in blockchain technology and e cient speed up supply chains and
leveraging
positioning itself as a potential even prevent voter fraud. More and
global hub for cryptocurrencies more transactions are moving onto
the forward
and decentralized technologies. blockchains, and while blockchains
The government’s initiatives have are inherently transparent, they aren’t
looking
created a conducive environment readable without tools.
for tech builders and investors,
vision of the
drawing industry figures and That’s where Chainalysis comes in.
thought leaders to the country. This We provide data, software, services,
ecosystem
in ux is stimulating the entire tech and research to government
ecosystem particularly in phygital agencies exchanges financial
to serve the
spaces where blockchain intersects institutions, and insurance and
with physical items, such as real cybersecurity companies in over 70
larger region
estate to eni ation a practice countries. Our data platform powers
common in Dubai where properties investigation, compliance and risk
can be bought and sold using digital management, as well as market
currencies a or global firms intelligence tools that have been
like Binance, Koimanu, Bybit, and used to solve some of the world’s
have established significant most high profile cybercriminal
presences in the UAE, drawn by cases and grow consumer access to
its vibrant market and favorable cryptocurrency safely. Our mission
regulatory environment. is to build trust in blockchains to
Chainalysis is another key player in

blockchain data and analytics. The
company specializes in delivering
detailed insights into blockchain
transactions as they scrutinize data
from various blockchains to discern
patterns, track funds, and pinpoint
illicit activities he firm recently
setup its regional HQ in Dubai.
To watch the full interview, please

scan the QR code
an o ce in an ideal strategic
location in the DWTC through a
business operating permit. The Dubai
government was expedient in their
review of our application and other
materials, coordinated with our local
advisors, and made the process as
e cient as possible
How has the Dubai startup ecosystem

supported Chainalysis?
A A has helped anchor Dubai
promote more financial freedom with signed an MoU with Emirates NBD to and the UAE as a crypto hub with a
less risk. support the banking leader’s Digital diverse ecosystem of traditional and
Asset Lab program and opened our new economy players. Through its
Can you give us a timeline of some of regional headquarters in Dubai as well. collaborative, principles-based, and
Chainalysis’ major milestones? forward-thinking regulatory approach,
Chainalysis celebrates its 10th What led Chainalysis to eventually A A has brought much needed
anniversary this year, after settle on Dubai, which was after 3 clarity to the sector while striking a
incorporating in 2014 – when our CEO, years of operating and expanding in balance between enabling innovation
Michael Gronager, developed the code the country? and safeguarding market integrity.
for our data platform to help investigate The UAE market is at a tipping point, For Chainalysis, the regulatory clarity
the Mt. Gox case. Since then, we’ve had with institutional investment now and presence of diverse ecosystem
the opportunity to support some of the accounting for the lion’s share of the players was instrumental to establish
world’s most high profile criminal cases country’s crypto activity. The need our regional headquarters here and
involving cryptocurrency, including the for our investigation, compliance, enabled us to collaborate and partner
takedown of Silk Road, Welcome to market intelligence and data with leading players to continue
ideo In 2 22 for the first time ever solutions, is greater than ever. The building trust in blockchains.
law enforcement and industry players inauguration of our headquarters
and Chainalysis, seized more than $30 signals our commitment to delivering Dubai has opened its borders with
million from the D led Axie Infinity technologies, the knowledge and various initiatives to attract advanced
hack. support, local entities need to capitalize technology companies and talent to
on this tremendous opportunity. With set roots in the Emirate. Have these
In the MEA region, Chainalysis has our inauguration in Dubai, we are been instrumental for attracting talent
been actively engaging with key establishing a new regional hub which at Chainalysis?
government stakeholders, regulators supports other emerging and fast- Setting up in Dubai was a strategic
and crypto service providers, to offer growth markets including India, Africa move, as it is home to a conducive
guidance and best practices for the and Central Asia. economic environment that
development of regulations and encourages innovation. The city’s
frameworks necessary to foster a emergence as a crypto and financial
thriving crypto ecosystem. In July of Virtual Assets Regulatory Authority hub also attracts global talent, and
2022, Chainalysis partnered with the (VARA) been for the blockchain and that allows us to recruit skilled
UAE’s inistry of Artificial Intelligence crypto industry? professionals specializing in traditional
Digital Economy and Remote Work Dubai offered many different finance regulatory compliance and
Applications to set up a Centre of registration options and we found a Web3.0. As a result, Chainalysis already
Excellence that helps government solution that best fit the uni ue needs has a growing team on the ground
employees upskill on blockchain of our business and operations by here, comprising diverse nationalities
technologies. In May 2024, Chainalysis registering onshore while maintaining and backgrounds.
Made in Dubai Can you give us a timeline

for the World of some of Micropolis’s
major milestones?
The integration of autonomous 2019

robotics within smart city Developed the first
frameworks has marked AMR with skid steering
a significant technological autonomous system.
evolution in recent years.
Smart cities utilize a variety of
advanced technologies, such
as autonomous mobile robots
2021
Introduced the first
(AMRs), to improve services and
versions of M01 and
infrastructure while enhancing
2 began field testing
urban management and
public safety. Dubai has been
at the forefront of integrating
autonomous robotics into its 2021
smart city initiatives recently Secured seed funding
as the Dubai Robotics and from San Francisco;
Automation Program aims to C
established a
deploy 200,000 robots over the does and what is the problem it looking to solve?
prototyping facility in
next decade to enhance e ciency Micropolis builds Autonomous Mobile Robots
Media Production City.
and productivity across various designed for government and large organizations
sectors. to augment and automate their operations. By
Micropolis is one of the Future

leveraging robotics, AI, and smart mobility, we
aim to reduce costs and increase e ciency ur
2023
solutions address the critical need for scalable Developed second
100 companies which is focused
automation in sectors that require high operational versions of M02 and
on robotics and working with
reliability and productivity. M022 with our MRCU
the Dubai Police in deploying
control system and
Autonomous Mobile Robots.
SPDU electrical system.
Let’s hear more from Mr. Fareed
Aljawhari on what motivated him
to pursue this business.
2024
Product reached
production level, with
sales planned for Q1
2025.
To watch the full interview, please

scan the QR code
to Dubai Police, and we were excited

with the level of support provided
has the Dubai startup ecosystem from Dubai Police. Additionally, their
supported Micropolis? Why did it make decision making was quick, as we were
sense to start the company in Dubai able to speak to the colonel all the way
versus anywhere else in the region? up to Commander-in-Chief who then
Dubai is a well-developed startup took it to the next level where they
hub with a supportive regulatory provided the idea for smart mobility,
environment and robust infrastructure. autonomous robots etc. They also
The city’s lifestyle and the leadership encouraged our investors to back us.
vision for the future attract talent both In return, we also learnt a lot about
regionally and globally. The government how policing works and what problems
initiatives foster a comprehensive they were looking to solve. They made
ecosystem for startups to thrive and us part of their innovation lab. It is
grow. heartening to receive such immense
support and also speaks to the volume
Why did you decide to manufacture of innovation that the government is
locally in the UAE? loo ing to implement
Two reasons! First is that we eliminate reputation makes it easy for us, but
the supply chain since developing new Dubai has set its sights on becoming it is hard to attract capital because
systems and technologies require you a digital economy capital of the the local capital does not prefer asset
to own 100% of the IP. world by the end of this decade, and heavy investment, or high cash burn
has opened its borders with green/ industries.
Second is that it is actually more cost nomad visas and golden visas, and
effective to do it in-house and it is various initiatives to attract advanced What are the opportunities and
cheaper to do it here as opposed to technology companies and talent. advantages that Dubai has, in its
outside. Since we are using additive Have these been instrumental for attempt to become THE place to
manufacturing and 3D printing, we attracting talent at Micropolis? launch startups?
realized that we don’t need outside As a city, Dubai is easy to sell as the You can feel that there is a community
support. We know our machining leadership is visionary and is about of innovation. The infrastructure
capability and knew that we can keep getting things done. The lifestyle for startups is great, the regulatory
costs down if we planned well and offered is great and the level of and security atmosphere is ideal for
ahead. income is competitive. Attracting setup and growth. When you speak
talent is extremely easy as issuing to Dubai Police, you get access to
What were the government incentives, visas is straightforward, affordable other departments (government and
or support that you were provided and quick. With such services from semi-government). There are many
from Dubai (city, government, or any of the government, it has been extremely events which people can leverage.
its Digital Economy pushing strategies easy to identify talent and attract them However, the ecosystem still needs
that have helped Micropolis grow in a to Dubai. improvement, and from our side we are
way that it may not have somewhere trying to push academia, local supply
else?) Can Micropolis speak to the access to chain, future buyers, local talents, and
We started the company in 2014 and talent and capital in Dubai? Or perhaps venture capital. We need legislations,
wanted to create a digital twin of comment on Dubai’s Digital Economy government support, investment,
Dubai. We wanted to collect the data Strategy? academia all to work together and in
and implement an AI model and run We succeeded to attract talent sync. I believe that with these in place,
some predictive analytics. It was a bit because of our talent acquisition Dubai maintains its position as the
too complex for us. We showed this strategy and Dubai lifestyle and perfect place to launch startups
Using Dubai’s
supportive From fragmented data sources, varying data quality, and regulatory
complexities E A faces significant challenges when it comes to
ecosystem to financial data raditional financial institutions often struggle to harness

the full potential of transaction data, limiting their ability to offer
successfully personalized services. This is where Lune Technologies has made an

impact by focusing on enriching raw transaction data such as credit
pivot from card spend and provide clear overviews of spending patterns helping
businesses make informed decisions. Hear more from Mr. Helal Tariq
a B2C to a Lootah, Co-CEO and Co-Founder of Lune Technologies, on its journey

after establishing in Dubai.
B2B business C
model looking to solve?

Lune is an Emirati Data company plugging a gap in the financial data
infrastructure landscape e build financial data analytics solutions to
focused on payment & transaction data enrichment. In very simple terms
we make transaction and payment data clear and usable for MENA banks
and fintechs and build value added use cases on top of that to extract
and generate an roi for our clients.
business model? Could you provide more information on this?

We have successfully pivoted from a B2C savings platform to a B2C
Personal Financial Management application to eventually what we are
now a B2B financial data processing platform After launching in 2 2
the first pivot was due to reali ation that holding customer money was
highly regulated locally, which made the business model too complex to
successfully execute. The 2nd pivot still focused on consumers however
moved away from holding client money. However realizing that Lune
would have to grow to the si e of a neo ban in order to moneti e at a C
backable scale, we realized that there was a glaring need for a B2B data
management solution in the financial industry regionally ubse uently in
2022, we repositioned ourselves as a B2B solutions provider.
What were the government incentives, or support that you were

provided from Dubai (city, government, or any of its Digital Economy
pushing strategies that have helped Lune during the setup process?)
There are several however what stand out are DIFC subsidizing setup
costs along with the support provided by Dubai Chamber, the Future
100 recognition by Ministry of Economy and the investment from Dubai
Future District Fund.
Dubai has set its sights on becoming a digital economy seed ventures b) accelerators that actually provide funding c)
capital of the world by the end of this decade and has opened deep technology and machine learning grants.
its borders with green/nomad visas and golden visas, and
various initiatives to attract advanced technology companies What are the opportunities and advantages that Dubai has, in
and talent to set roots in the Emirate. Have these been its attempt to become THE place to launch startups (versus
instrumental for attracting talent at Lune? any other city in the region, or perhaps in the world?) from
Absolutely, hiring and retaining talent has become much easier your standpoint (from what you’ve seen so far)?
as more individuals are seeking to move to dubai. The golden We are the luckiest individuals in the world to have the
visa scheme was also very positive in improving retention. opportunity to build our ventures in such a supportive
ecosystem where I believe no other jurisdiction compares in
Can Lune speak on the ease of access to capital in the region, terms of ease of doing business. Dubai is in my opinion the
and the advantages that startups have, which are HQd in leading city in the
Dubai? world to build a tech
The venture capital scene in the UAE remains in its early days. venture due to various
Although we have seen more and more funds emerge in the factors including
past few year which is a very positive sign, the adequacy of its innovation and To watch the full
interview, please
access to capital is not yet there Especially in two fields: a pre supportive ecosystem. scan the QR code
SHAPE DUBAI’S FUTURE
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Your feedback can provide months or even years of impactful advocacy, shaping
legislation and boosting the business community in Dubai. Your input and
experiences document challenges, reveal trends, and will support us in pinpointing
solutions
DUBAI STARTUP GUIDE 2024 EDITION
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DUBAI

STARTUP ECOSYSTEM ENABLERS 19

doing business in Dubai. Take a look

We hope this guide helps you on your

Before delving into Dubai’s

1 Highly investment friendly

Foreign Direct Bilateral investment protection Bilateral investment protection Bilateral

2 World Class Land, Sea and Air Travel Infrastructure

London Hamburg Moscow

250+ Cape Town

3 Best in Digital Competitiveness

2 Launch plan for green and sustainable

Ranked 4th in list of safe cities globally in 2024, moving

4 Launch a scale-up programme for 30 companies

6 Launch Dubai Traders project to empower the new

8 Launch ‘Sandbox Dubai’ to allow testing and

9 Launch a programme to attract the world’s best

10 Develop a SME scale-up programme by identifying

5 Population explosion expected

his figure is expected to increase to million people by 2

UAE is the best performer for the 6th time in the

Also ranks high on access to growth

Source: Dubai Statistics Center, INSEAD and Lucidity Insights

7 Healthy Startup Ecosystem

1980 2023 2040

1st 86% 34%

8 Ease of Access to Capital

% of funds raised by startups from

9 Dubai’s Most Funded Startups to Date

Did You Know

UNDERSTANDING LEADERSHIP’S VISION:

His Highness Sheikh Hamdan bin Mohammed bin Rashid

His Excellency Omar Sultan Al Olama

To watch the full interview, please scan the QR code

Up close and personal with

DUBAI ECOSYSTEM ENABLERS

Programs: Programs: Programs: Programs:

Sectors: Sectors: Sectors:

Programs: Programs: Programs: Programs:

DUBAI ECOSYSTEM ENABLERS

Programs: Programs: Programs: Programs:

Programs: Programs: Programs: Programs:

Programs: Programs: Programs: Programs:

Programs: Programs: Programs: Programs:

Sectors: Sectors: Sectors: Sectors:

Programs: Programs: Programs: Programs:

Pre-Seed Seed Series A Series B Growth

SETTING UP A BUSINESS IN DUBAI

The process of establishing a company

Identify nature Identify a

Mainland Company Freezone Company Offshore Company

100% foreign ownership in more than 1,000

Did you know

activities in the UAE

The activity’s nature determines the license type that

Definition Mainland Free zone Offshore

Free Zone A legal entity incorporated/registered by a single shareholder, who

Branch of a Local An extension of an existing local or international company, allowing

Free Zone Company A legal entity incorporated/registered with a minimum of two