Dubai has introduced licenses for innovators

02 / 09 / 2020

Licenses were announced in Dubai with a completely new business concept for businessmen, tech firms and start-ups. The license of the new type was named “Innovation license”. The goal is to attract technology companies to the Dubai Future District, established in early 2020.

With this license, the authorities can support creative technological innovations, various innovations and entrepreneurs in the region as a whole. And businessmen will be able to raise their business to a new level, scale it more efficiently, using the system of international norms for the protection of intellectual property rights and the system of English common law.

Today, more than 2.5 thousand operating companies are located in the FEZ (Free Economic Zones), the total number of employees of these companies reaches 25 thousand people. Taking into account the relatively short period of time, the strategy for introducing a new license was at least successful. The “innovation license” is issued for 1 year, the cost is $ 1.5 thousand. For young companies, there are attractive conditions for using coworking spaces for productive work.

Now let's figure out what is included in the new license. If you rent an office on the territory of the Free Economic Zone, then at least 4 resident visas will become available to you. The Dubai authorities note the great role of technologycal companies in the formation of the economic system of the future of this Emirate and the region as a whole. The same opinion is held in the international financial center of Dubai. It is interesting to watch the economic transformation of the entire country in real time.

We would like to remind you that the implementation of the "Future Region" was announced in Dubai,and made a tangible contribution to the new economy. The announcement was made by the ruler of Dubai, Mohammad bin Rashid Al Maktoum, in early 2020.

The new district will combine both financial and shopping centers. It will consist of 3 main areas, it will be possible to get from one to another area through architectural bridges. Area names are Dubai International Financial Center, Dubai World Trade Center and Emirates Towers.

After announcing the creation of a new district, the ruler spoke about a new fund, the capital of which is 1 billion dirhams. All capital is dedicated to supporting startups operating in the "Region of the Future" or for companies with the greatest potential. Dubai aims to be the best city for businessmen and experts from all over the world.