If you’re willing to start a business in UAE, the new UAE Visa policy is a great news for you. The 10-year visa for investors can significantly strengthen the local entrepreneurial ecosystem.
The startup industry in UAE was going through a rough patch with the visa problem where the entrepreneurs were required to hand over 51% of the business owners to local Emiratis people. With the new UAE visa policy, 100% of the ownership can be retained even by the foreigners.
The leading local investors have already announced the verdict for the coming year. In the year 2017 $560 million was invested in more than 260 startups in Mena. In the first quarter of the year, 2018 sixty-two deals already closed, and the amount invested is $35.54 according to a survey done by MAGNiTT.
According to a founder and CEO of Silicon Badia, Fawaz H. Zu’bi, UAE is working hard to innovate and promote ecosystem which consists of highly intellectual entrepreneurs and professionals. Everything that is happening is UAE is directly related to gain speed in the overall startup ecosystem.
On the other hand, if you go back few years running a startup in UAE was not an easy task. The UAE visa requirements were strict which eliminated the little chance that most of the startups get in other countries. But, with the new UAE visa policy in place now anyone in UAE can take 100% ownership of their business without giving away anything to the Emiratis people.
One good news with this UAE visa policy is that there is already a lot of tech advancements in UAE for the past few years. AI is a nest for innovation and technological advances in Dubai. The only thing people need to worry about is not growing their business.
A successful implementation of a business strategy will bring huge returns for anyone regardless of their cast. A sustainable ecosystem in UAE can attract high-end investors, foreign employees, and can provide a safe environment for people who are already doing business in UAE.
If the entrepreneurs follow some tips it can get easy for them to sustain the business. A sustainable business will lead to more investors and attract the new talent without losing the old one. There is a chance for local entrepreneurs to grow fast in the Dubai region because it is a hub of all the major activities that happen in UAE.
Among many other sectors, the key sectors in which investors are willing to invest are food & beverages, eCommerce, finance, real estate, logistics & transport. According to a local investor Walid Hanna, “the new UAE Visa policy is good news for attracting & retaining engineers, startups, and innovators in UAE.”
The reason behind is to retain the inventors, long-term investment and to enhance sustainability in the region. In the new policy, Dubai visa for US citizens is a notable and favorable addition for the people who are willing to switch their businesses from the US to Dubai.
Philip Bahoshy, founder MAGNiTT in an interview said, “This is a big step in the right direction by empowering business owners and investors alike to have their skin in the game when setting up companies in the UAE. It helps create an environment for founders to cost-effectively incorporate while acknowledging the role of investors to incentivize them to deploy capital in local entities.”
The rise of AI, Blockchain, and analytics is not limited to one location. Now, with the new UAE visa policy in place, there is a 100% ownership when it comes to setting up a business in UAE. The new policy is smart, and it enables the startups to innovate in the heart of middle-east without any barriers.
“The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors,” said Sheikh Mohammed, Ruler of Dubai and UAE Prime Minister.
This policy opens-up new doors for people who are willing to start their business in UAE or are already operating in a limited capacity. There is gargantuan potential in a country where camels walk on the roads. A common practice among most of the Dubai branding agency which operates in UAE is that they come up with a business idea and starts working on it. They don’t take the time to analyze the situation. To grow your business and help as many people as you can take advantage from this UAE visa policy before the policy takes a U-turn.