Artificial Intelligence (AI) is one of the fastest growing industries in the world. And with seemingly endless use cases, from business and banking to healthcare, hospitality, and, of course, technology, it’s unlikely to slow down any time soon.
Here in the Middle East, AI is expected to impact the economy to the tune of USD 230bn by 2030. The UAE is expected to see the greatest benefit, accounting for almost 14% of the total figure.
Naturally, this makes now the perfect time to start an artificial intelligence business in Dubai, UAE. And, if you do, you’ll find a fast, easy, and affordable company formation process when you arrive. Providing you set up with the help of a local expert, of course.
In this guide, we’ll talk cover the key points of AI company formation in the UAE, from licensing to costs.
What is Artificial intelligence?
In simple terms, artificial intelligence is the intelligence of machines. It can be applied to any technology that can recognise its environment and take action to increase its chances of achieving its objectives.
Common uses for AI include:
Benefits of starting an AI company in Dtec, Dubai
When you start any business in the UAE, you’ll immediately benefit from the country’s 0% tax rate, its strategic location in the heart of the Middle East, and its supportive business environment.
And as one of the world’s most prestigious technology hubs, here you’ll find an array of incubators, acceleration schemes, and free zones tailored to businesses like yours.
Dtec, for example, is a fully integrated tech community, home to hundreds of the region’s leading startups, SMEs and tech entrepreneurs. When you set up here, you’ll get access to state of the art coworking space, mentors, accelerators, workshops, and networking events – all under one roof.
You can also make use of a range of business services, from printing, faxing, and shredding to reception cover and PO boxes.
When you establish your business in a free zone, you’ll also benefit from 100% customs tax exemptions and capital and profit repatriation.
Steps to obtain your artificial intelligence license in Dubai, UAE
When you work with Dtec, you can get your Artificial Intelligence License in Dubai in just three simple steps.
Step 1: Name your business
When choosing your company name, you’ll need to comply with a few naming conventions. They include:
Step 2: Get your license
Dtec can manage the entire licensing process for you, ensuring that your application is correct to prevent any hassle further down the line.
You’ll need to supply some basic documentation at this stage, including:
Step 3: Apply for you visa
You’ll also require a visa to live and work in the UAE. You can make this application to the relevant immigration department. Or, when setting up in a free zone, the visa application forms part of the main company formation process and can be managed on your behalf.
As well as submitting further documentation, you will also be required to undergo biometric capturing, and a medical test and fitness exam.
What is the cost of getting an AI license in Dubai?
The cost of getting an AI license in Dubai will depend on many factors. The area you set up, the size of your business, and your intended activities will all have an impact.
Free zones are often the most cost-effective option when starting a business of any kind. But no two free zones are the same, and prices can vary significantly.
Dtec offers several packages inclusive of multiple visas. The flexi desk package, for example, includes a service license, the use of a workspace in a common area and eligibility for two visas. This package starts at AED 18,000 per year.
Dtec also offers a license with fixed desks and eligibility for three visas for AED 24,200 per year, plus furnished private offices, inclusive of two visas per desk, for AED 47,820 per year.
Starting your business at Dtec
If you’re looking to start an artificial intelligence business in Dubai, UAE, there’s no better base than Dtec. Apply with us, and we’ll handle every step of the process for you – helping to outline activities, register your company name, applying for your license and visas, and supporting you once you’re up and running.
If you’re looking for flexible coworking or office space in Dubai, Dtec offers a nurturing, supportive community from which to set up your new business.
As well as a great workspace, Dtec is home to a vast network of mentors, advisers, and educators, with many receptive to collaboration, pitches, and investment opportunities. The 10,000 sqm facility is home to an integrated ecosystem for hundreds of startups, SMEs and entrepreneurs from around the world.
Along with organic opportunities to engage and collaborate, Dtec also runs a range of formal events, including Partner Labs, the Corporate Partner Network, an annual pitch competition, and several acceleration programmes.
So, have you got a great idea you want to see realised? Everything you need can be found in Dtec.
Our coworking space encourages collaboration. Our accelerator programs and funding arm give a young business set up in the UAE a head start. Our networking events ensure you get your name out there and stay on top of industry trends. We take care of everything, leaving you to take care of your business.