Business Setup

Company Setup In Artificial Intelligence Centre Dubai, UAE

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Business Setup Artificial Intelligence Centre Dubai

Dubai continues to cement its position as a global hub for technology and innovation making it one of the most attractive destinations globally for investors for business setup. Recently, the city took a massive step forward with the launch of a cutting-edge Artificial Intelligence (AI) Centre.

This initiative aims to develop real-world applications powered by AI, making Dubai an even more attractive destination for businesses and investors.

What Kind of Companies Can Set Up a Business In Dubai’s AI Centre?

The new AI Centre focuses on fostering advancements in AI technologies that can solve real-world problems. From improving business processes to enhancing customer experiences, the applications of AI are endless.

The different types of companies that can thrive in this environment include:

  1. AI Development Firms: Companies specialising in developing AI software and applications, including machine learning algorithms, natural language processing, and computer vision technologies. These firms can cater to various sectors such as healthcare, finance, and retail.
  2. Data Analytics Companies: Businesses that focus on big data analytics and business intelligence, helping organisations make data-driven decisions. They can offer services such as predictive analytics, data mining, and visualisation tools.
  3. Robotics and Automation Companies: Firms that design and manufacture robotic systems and automation solutions for industries like manufacturing, logistics, and healthcare. This includes companies working on robotic process automation (RPA) and intelligent automation solutions.
  4. Consulting Services: AI consultants can provide expertise to businesses looking to integrate AI into their operations. These services may include strategy development, implementation support, and training.
  5. AI-Enhanced Products: Companies that create consumer products enhanced by AI, such as smart home devices, wearables, and personal assistants. This includes developing applications for augmented reality (AR) and virtual reality (VR).
  6. Cybersecurity Firms: With the rise of AI, there is a growing need for cybersecurity solutions that protect against AI-driven threats. Companies can focus on developing AI-based security systems and risk assessment tools.
  7. Educational and Training Providers: Institutions or companies offering training programs and courses in AI and related technologies. This can include workshops, online courses, and certification programs to build a skilled workforce.
  8. Health Tech Companies: Firms that utilise AI to improve healthcare outcomes, such as telemedicine platforms, diagnostic tools, and personalised medicine solutions.
  9. Fintech Companies: AI applications in financial technology, including fraud detection systems, robo-advisors, and automated trading platforms, can be developed to enhance financial services.
  10. Creative AI Companies: Businesses that explore creative applications of AI, such as content generation, graphic design, and music composition, can find a niche in the growing creative sector.

Why AI?

Dubai’s push toward AI is not just about technology; it’s about creating an ecosystem that supports businesses. The AI Centre is expected to draw top-tier investors and talent, making it a hotspot for those looking to thrive in a future-focused environment. The UAE government’s commitment to positioning the country as a leader in AI technology ensures a supportive infrastructure for new businesses, offering them the tools and opportunities to succeed.

For entrepreneurs and investors, this is an exciting opportunity. The launch of the AI Centre is just one of many initiatives that make Dubai an attractive destination for business. With the added advantage of favourable business regulations, world-class infrastructure, and a growing talent pool, Dubai is set to become a global AI powerhouse.

Choose Affiniax to setup your AI venture in the UAE

Dubai is welcoming companies that want to be at the forefront of technological innovation and economic growth. From AI research and development to business-friendly policies, Dubai offers the perfect environment to scale your business and stay ahead in an increasingly competitive global market.

Our experts at Affiniax help you set up your Company and stay compliant in an evolving and dynamic regulatory landscape. Please contact us at mail@affiniax.com Affiniax, for business setup in Dubai and associated services.

How to Choose the Best Freezone for Business Setup in UAE – Part One

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Best UAE freezones for business

Introduction:

Setting up a business in the United Arab Emirates (UAE) offers numerous advantages, including a strategic location, a strong economy, and a business-friendly environment. One of the key considerations when establishing a company in the UAE is choosing the right free zone. Free zones provide businesses with a range of incentives, such as tax exemptions, 100% foreign ownership, and simplified company registration processes. In this blog, we will explore the top ten free zones in the UAE, known for their exceptional facilities and benefits.

1. Dubai Multi Commodities Centre (DMCC)

As the largest and fastest-growing free zone in Dubai, DMCC offers a wide range of sectors, including commodities, technology, and professional services. With state-of-the-art infrastructure, business support services, and a strategic location, DMCC is an ideal choice for businesses of all sizes.

2. Meydan Freezone

Situated in the heart of Dubai, offers a strategic location for businesses looking to thrive in a dynamic economic environment. Known for its modern infrastructure and business-friendly policies, Meydan Freezone provides a range of amenities and support services tailored to meet diverse business needs. Whether in technology, finance, or logistics, Meydan Freezone fosters growth and innovation, making it a preferred choice for local and international enterprises alike.

3. Jebel Ali Free Zone (JAFZA)

JAFZA, one of the oldest and largest free zones in the Middle East, provides a strategic location and world-class infrastructure. It offers a diverse range of business activities and has a reputation for attracting large multinational corporations.

4. Dubai Silicon Oasis (DSO)

DSO is dedicated to technology and innovation-based industries, making it an ideal choice for IT companies, startups, and research institutions. It offers advanced infrastructure, research and development facilities, and incentives for tech companies.

4. Ras Al Khaimah Economic Zone (RAKEZ)

RAKEZ, located in Ras Al Khaimah, offers cost-effective setup options and a wide range of business sectors. It provides simplified procedures, making it attractive for startups and small to medium-sized enterprises (SMEs).

5. Abu Dhabi Global Market (ADGM)

ADGM is a leading international financial center in Abu Dhabi. It offers a robust regulatory framework, attractive tax benefits, and access to a global financial marketplace. ADGM is particularly suitable for companies in the financial and professional services sectors.

6. Hamriyah Free Zone (HFZ)

Located in Sharjah, HFZ provides competitive pricing, a strategic location, and a wide range of business activities. Its proximity to major seaports and airports makes it an ideal choice for companies involved in import-export and manufacturing.

7. Ajman Free Zone (AFZ)

AFZ, located in Ajman, offers cost-effective setup options, a strategic location, and a supportive business environment. It is particularly attractive for startups and small businesses looking for affordable yet well-connected free zone options.

8. Sharjah Airport International Free Zone (SAIF Zone)

SAIF Zone, situated in Sharjah, provides easy access to Sharjah International Airport. It offers a wide range of business activities, competitive pricing, and excellent connectivity, making it an ideal choice for companies involved in logistics and trading.

9. Fujairah Free Zone (FFZ)

FFZ, located in Fujairah, provides a strategic location and a business-friendly environment. It offers a range of business sectors, attracting companies looking to access the Indian Ocean markets and benefit from the region’s growing trade opportunities.

10. Umm Al Quwain Free Trade Zone (UAQ FTZ)

UAQ FTZ, situated in Umm Al Quwain, offers cost-effective setup options, a strategic location, and a range of business sectors. It is particularly popular among startups and SMEs due to its affordable pricing and supportive business environment.

Conclusion:

Choosing the best free zone for your business setup in the UAE is a crucial decision. Each of the top ten free zones mentioned above offers unique advantages, ranging from strategic locations to sector-specific benefits and world-class infrastructure. It is essential to thoroughly research and consider factors such as your business requirements, target market, and industry focus before making a decision. By selecting the right free zone, you can benefit from the incentives and support available, setting your business up for success in the dynamic UAE market.

Get in touch with one of our professional Business Setup Consultants who would be delighted to go through the options for you, to ensure that your specific business needs and goals are catered for and enabling you to make an informed decision for your business setup.

Contact us now at narisah@affiniax.com for more information.

DMCC INTRODUCES DUAL LICENSING SCHEME BY PARTNERING WITH DED

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DMCC dual licensing agreement
As part of a continuous effort to transform Dubai into an investment friendly ecosystem, Dubai Multi Commodities Centre (DMCC), the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprises, and the Department of Economic Development (DED), the Government of Dubai entity that regulates the economic activities of all onshore companies, have signed a strategic agreement to collaborate on the licensing of companies in Dubai- allowing them to operate within the Free Zone and onshore. The Memorandum of Understanding (MoU) introduces a dual licensing scheme to DMCC member companies, enabling them to establish a presence and operation in mainland Dubai under a DED license. It will also enable Free Zone businesses to carry out some service activities onshore, provided that DMCC member companies will obtain a no objection certificate (NOC) from the DMCC Authority. The partnership aims to further facilitate trade and boost economic activity with the potential change to the entrepreneurship and business outlook in the Emirate and to further improve transparency, governance and compliance in the business sector. This will also welcome new business opportunity and flexibility to conduct businesses across Dubai. We will keep you posted on any update regarding the above matter and its implementation.

100% FOREIGN OWNERSHIP IN THE UAE FOR CERTAIN ACTIVITIES

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UAE foreign ownership rules Affiniax
His Highness Shaikh Mohammad Bin Rashid Al Maktoum chairman of the UAE cabinet, Vice President, Prime Minister and Ruler of Dubai has approved the sectors and economic activities eligible for up to 100% foreign ownership in the UAE. Total of 122 economic activities across 13 sectors were specified to be entitled for up to 100% foreign ownership. The decision aims to support the growth environment and to reaffirm UAE’s position on the global arena as a hub for investment. The sectors covered are
  • Renewable Energy
  • Space
  • Agriculture and Manufacturing Industry
  • Transport and Storage
  • Hospitality and Food Services
  • Information and Communications
  • Professional, Scientific and Technical activities
  • Administrative Services
  • Support Services
  • Educational Activities
  • Healthcare
  • Art and Entertainment
  • Construction
The Local Governments will specify the ownership percentage of foreign investors in these activities. We will keep you posted on any update regarding the above matter and it’s implementation. We at Affiniax Partners can assist you with Economic Department Company Formation. For more information towards the company formation please feel free to contact our Corporate Service team at mail@affiniax.com.

WHY INVEST IN THE UNITED ARAB EMIRATES?

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Corporate office interior
Introduction: United Arab Emirates The UAE’s status as a growing knowledge hub is enhancing its attractiveness as a business destination that offers a multitude of possibilities. There are more than 40 free trade zones in UAE which offer business stability and 100% foreign ownership. The taxation regime is extremely appealing with 0% Corporate Income Tax for most sectors and no Personal Income Tax or Social Security Contributions. Business confidentiality and having no restrictions in establishing more than just one activity in the UAE makes it easy for international investors to set up their businesses in the UAE. Moreover, strong and rapidly expanding infrastructure plays a major role in attracting businesses to the UAE. Dubai is fast becoming an important financial center that offers business support for foreign investors looking to invest in the region. With the World Expo being held in Dubai in 2020, a number of international companies and investors will be looking to explore opportunities in the UAE. Having nearly 30 years of presence and experience in the region, Affiniax Partners are well placed to assist your clients with their requirements in the UAE. Few aspects to consider when considering your move to Dubai:
  • Skilled local and International workforce.
  • The import and export sector benefits from a series of advantages and foreign companies are exempt from most tax and duties.
  • Entrepreneurs in Dubai can easily connect with countries worldwide when having a business in the UAE.
  • It is very easy to set up a branch or a subsidiary in Dubai.
  • The incorporation process in Dubai is not subject to complex formalities and entrepreneurs can easily set up their business.
  • The tax benefits are huge in Dubai, and entrepreneurs from abroad can enjoy tax exemptions like 0% corporate or income taxes.
  • The positive trends of the real estate sector in Dubai attract different foreign businesses every year.
  • A strong Currency with pegged AED to USD rate.
  • Dubai is an important tourist destination which offers plenty of opportunities in this area.
  • The UAE has already signed over 40 Double Tax Treaties with various jurisdictions and is in the process of agreeing on agreements with more jurisdictions, including the UK, Australia, and other EU countries.

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