If you’re a female entrepreneur, the United Arab Emirates is the place to be. That’s because the country offers greater gender equality than any other country in the region. And women entrepreneurs are noticing because now, more than ever before, women are taking advantage of the growing opportunities for business owners in the UAE. Keep reading to find out why the future is female for business setup in UAE.
Why Women Should Make the Move to UAE
Female entrepreneurship has seen massive growth in the UAE over the years. There are even certain sectors where women are completely leading the way. Around the world, the technology sector is a male-dominated field, but not in the UAE! In the Middle East and North American region, 35% of tech entrepreneurs are now women. So, not only are women getting ahead in some fields, but there’s plenty of support and initiatives to help them get to the top and stay there.
Here are some other reasons why you should consider doing business in the UAE:
1. It’s just the beginning
The number of women entrepreneurs is already growing in the UAE, but they are just getting started! That’s because the UAE offers the greatest gender equality of any other country in the region. Listen to this, the Emirates put $50 million into a fund for women entrepreneurs back in 2017, and in just one year, they were able to close 64% of the overall gender gap in the UAE workforce. Talk about progress! And every year, female ownership of Limited Liability Companies continues to rise. So, while the UAE is on the right track for female entrepreneurs, the trend continues to grow, so it’s just the beginning!
2. Initiatives aimed towards women entrepreneurs
The UAE government is taking steps directly related to improving gender equality. There are several initiatives to help female entrepreneurs succeed. A few of these to consider are:
- Dubai Business Women Council (DBWC) – This is a non-profit that provides education and training to UAE-based businesswomen.
- Abu Dhabi Business Women Council (ADBWC) – This organization is designed to help new women business owners. The group offers technical support, advice, and guidance.
- Dubai Women Establishment (DWE) – This is an annual leadership program for women that offers great networking opportunities.
3. Added support through company partnerships
Private companies often form partnerships with the UAE government and charities to increase training for women entrepreneurs.
Here are a few popular partnerships:
- Women Entrepreneurship Summit MENA
- JPMorgan Foundation
- Cherie Blaire Foundation for Women
These partnerships come and go, so you’ll need to be on the lookout to seize these opportunities. Make sure to keep an eye out for deadlines and give yourself plenty of time to get the applications in so you don’t miss out.
4. Low business setup cost
UAE offers low business setup costs and several different locations to choose from. A great advantage to the business in the UAE is the Free Zone locations. Free Zones offer streamlined setup processes, plenty of options for offices or workspaces, and one-stop resources for government services.
Mainland business setup is a little more expensive, but it offers great benefits like the opportunity to do business across the UAE. Different Mainland areas vary in price, so if you’re looking to cut costs, you could still form a Mainland business in one of the cheaper Emirates.
5. Changes to visas for women entrepreneurs
New changes have been made to make visas more appealing to women business owners. There are now 10-year property visas for expats and one-year residency extensions for recently divorced or widowed women. This will provide a sense of stability for women looking to do business in the UAE.
6. More female-led entrepreneur groups
There are more female-based groups aimed at increasing the confidence and skills of women entrepreneurs.
7. More help for women to return to work after childbirth
Balancing work and family responsibilities are tough for business owners all over the world, not just in the UAE. But, in the UAE, they are taking the initiative to help make things easier. Companies in the UAE are developing technology-based solutions to help ease the process for women returning to work after giving birth. This includes training and skill sessions online, online recruitment, and online job searches.
Starting a Business in UAE
You’ve just read about the benefits of business for women in the UAE. So, are you ready to get started forming your company? Here are some options for an easy setup:
1. Freelance company setup
If you are a one-woman operation, you can go for a freelance business. In order to do this, you’ll have to have to apply for a license at the Department of Economic Development (DED). You can also have a Freelance company registered in a Free Zone. There are so many benefits to business on a Free Zone, like no personal or corporate tax and 100% of your profits.
2. Free trade zones vs. mainland
If your business is a little larger, then you can register your business in the Mainland or Free Zone. The big difference between the two areas is trading abilities. With a Free Zone Company, you can’t work in a non-free zone without a local distributor or agent. If you choose to open a Mainland business, then you can work anywhere in the UAE.
Each area comes with its only rules and requirements. Regardless of what area you choose to set up your company in, you will want to partner with a business set up consultancy like MSZ Consultancy to make sure you have a hassle-free company formation.
3. Sponsor your family to join you
You don’t have to worry about moving to the UAE alone, you can take your family with you. You can sponsor your family for a residence visa so they can live with you in the UAE.
However, there are certain restrictions regarding women and visas. In Abu Dhabi, women can only sponsor their family if they work as an engineer, teacher, or in the medical profession. In Dubai, you can sponsor your family if you work in these professions or earn more than 10,000 AED per month. MSZ Consultancy can help you figure out this process to make sure your family goes with you to the UAE.
4. So many business opportunities
The possibilities for business in the UAE are endless. Retail, IT, and construction are all areas that have seen massive growth. Of course, your business doesn’t need to be restricted to these areas. There are so many great opportunities for business in the country, so be sure to research all the options.
Hassle-Free Business Setup in UAE
There’s no better time to be a woman in business in the UAE than right now. There are so many incentives aimed at making women entrepreneurs successful, and we want to help you make that happen! Setting up a company in the UAE can come with lots of paperwork and regulations. Leave it to MSZ Consultancy to guide you through the process to guarantee a hassle-free and affordable business setup for you in the UAE. Don’t wait! Get started on building your dream business today! Give us a call at +971 52 544 1248 for your FREE consultation!