UAE is the number one destination for startups globally! Yes, its 100% correct. Dubai Expo 2020 although delayed due to COVID but approaching fast. Startup friendly initiatives from all emirates and incentives for female business owners, 100% foreign ownership and now the new law of not requiring local partners in land companies are just few perks being offered by UAE.
In this article I will not discuss pros and cons of opening startup companies, but I will talk about the best cost friendly option to open startup company setup in one of the seven emirates in UAE!
The reason many startups starts promising but end up failing miserably is cost of the doing business as well and keeping in mind the best option to start and survive and grow your business with least cost at least for three years is a must.
Many free zones are offering different packages for single owner and multiple shareholders license and freelancer packages as well. However recently Ajman free zone has offered the best package almost slashing the cost to half. Best thing? Cost of renewal is also same and less as well.
Let us talk about the current packages they are offering then we will evaluate what is best for you depending on the nature of business you want to start.
E channel: AED 3,200
E-channel is a government and immigrations smart system for visa purposes which connects a freezone with the immigration authority in the respective Emirate.
Visa cost is 2,800 AED approximately excluding medical and emirates ID. Validity is for three years.
The above packages are reasonable and affordable for startups and the best thing is the cost of renewing the license is also very less as compare to any other free zone.
I advise the entrepreneurs to work on your startup budget and before making any decision consult with any company formation specialist it will not cost you but it will save your time and money.