Meydan Free Zone is a world-class hub for entrepreneurship and innovation in the UAE.
As the world opens up once more, entrepreneurs and start-ups have increasing flexibility and wider scope to find the right location and business infrastructure to nurture their entrepreneurial ventures. There’s a world of possibilities out there, from ‘digital nomad visas’ to remote free zones offering e-citizenships, and the promise of easier ways to do business.
With so many nations vying for the best global talent, it’s important for the region to stand out in a competitive market. That’s why the UAE’s Strategy for Talent Attraction and Retention sets out clear goals for attracting global talent to the region, making it a preferred destination for living and working. In addition, the UAE is ranked first in the region on the Global Innovation Index, confirming it as one of the world’s most innovative countries.
Alongside global competition for talent, businesses are also facing the challenge of bringing people back to the office, as new ways of working and technologies present more flexible opportunities for remote and hybrid working. This is creating a drive for further initiatives to attract entrepreneurs and employees alike back to the workplace.
Why Dubai?
Many cities around the globe can claim a variety of selling points to entice entrepreneurs to relocate there, but few can match Dubai in terms of innovation and wealth. Since 2020 Dubai has been ranked in the top five best cities for entrepreneurs – and with good reason. Alongside its advantageous geographic location and unparalleled access to multiple trade markets, it is of course a regional epicentre for trade, finance, and e-commerce.
Last year, the newly formed board of Dubai Chamber of Digital Economy announced that the board has adopted a new roadmap which aims to accelerate the growth of Dubai’s digital economy, doubling the number of digital companies operating in the emirate in the coming years. In addition, recent changes to the rules regarding foreign ownerships of business mean there is no longer a requirement for commercial companies to have a major Emirati shareholder – foreigners can now have 100% ownership of their business.
Alongside these advantages, Dubai is also tax-friendly, with corporate tax currently at 0%. Couple that with its extensive range of corporate services, which can handle all the necessary governmental formalities and paperwork, and the city becomes an attractive proposition for entrepreneurs and start-ups looking for a simpler, cost-effective way to launch or scale their business.
Entrepreneurial ecosystem
Whilst working remotely from a tropical island might seem appealing in theory, when you’re starting a business or looking to grow one, whether it’s digital or non-digital, the fact of the matter is you need the surrounding business infrastructure to make it work. Being able to tap into an existing and established entrepreneurial ecosystem can make the difference between success and failure.
Located in the heart of Dubai, Meydan Free Zone aims to give entrepreneurs and business owners credibility and a competitive edge. It offers an extensive range of business support services, a vibrant and world-class community, and unrivalled networking opportunities.
Meydan Free Zone is designed to make doing business easy, efficient, and cost-effective. As the only 24/7 fully digital free zone, it’s a truly paperless environment, with all trade licences and payments made through a secure customer portal.
Based in the luxurious Meydan Hotel, with views over the famous racecourse, it offers a premium, yet affordable, business address with enviable lifestyle opportunities on the doorstep. Surrounded by the wider Meydan community – which includes schools, clinics, restaurants, parks, houses, and apartments – it’s in a prime location where people can work, play, and live.
For creative minds establishing or expanding a business, Meydan Free Zone caters to over 3,500 business activities. Should an activity require third-party approval, there’s no need for business owners to seek all the relevant permissions – Meydan will do it for them. This is just one of a range of benefits to make set-up straightforward and cost-effective, from quick and simple incorporation to hassle-free company bank accounts.
There’s no need to wait to open a manual bank account – Meydan offers Meydan Pay – an instant IBAN which enables businesses to send and receive payments in the UAE straight away.
Most free zones offer a fixed visa and licence package, but in Meydan businesses only pay for what they require. The difference? Entrepreneurs can make huge savings because additional visas and upgrades are only added when needed – not upfront in advance. And through partnerships with leading banks, Meydan offers a simple payment plan.
Everything in the ecosystem is there to support and empower entrepreneurs and start-ups to succeed in a competitive market, such as 100% exclusion on corporate and personal tax and full repatriation benefits on profits and financial assets. There’s also a complete suite of business services on offer as part of Meydan Plus, including phone answering, and medical and Emirates ID assistance.
International appeal
Meydan Free Zone has a joint vision: to make entrepreneurship accessible and inspire business growth; and to foster a vibrant and connected ecosystem for entrepreneurs and innovators to create, grow, and lead. With this in mind, it’s easy to see the appeal of the Meydan Free Zone to foreign investment and talent – an enabling business environment coupled with luxurious lifestyle opportunities make it an ideal destination for the global entrepreneur.
With 100% foreign ownership and a guaranteed digital bank account, companies based in Meydan Free Zone are part of a thriving, centrally located economic community in a strategically positioned economic hub.
Meydan Free Zone is an economic-rich free zone in Dubai. Set in a strategic location near Mohammed Bin Rashid Al Maktoum City, with proximity to the Dubai Logistics Corridor, the free zone offers an end-to-end digital platform where its customers can benefit from incorporating licenses with 1,500 mixed-use business activities with an instant digital IBAN, visa applications, and other ancillary services, allowing companies to become a part of a thriving, strategically positioned economic hub. Meydan Free Zone is a wholesome community where customers are offered a safe place to live and call home, a world-class infrastructure from where they can work, and a community that can rejuvenate at play.
