Cyber security is a major challenge for companies in the United Arab Emirates. Recent research reveals that a shocking 82% of businesses face at least one cyber-attack per year. In response to this issue, the government has announced plans to develop a new cyber security standard for government ministries, which will be backed by significant investment. So, if you have experience in the cyber security industry, launching a cyber security business in Dubai would give you access to a market where your skills are in high demand.
There is no doubt that cyber security is a priority for businesses in the UAE. One recent study found that half of the firms are currently reviewing their cyber security strategy, and 69% say their budget for cyber security will increase by 11% or more in the next two years. Experts who know how to configure cyber security settings, offer training and prevent malicious attackers from entering company systems will not struggle to find customers.
What Is The Best Way To Start A Cyber Security Business In Dubai, UAE
Let’s learn more about how to start your cyber security business in Dubai, UAE.
Benefits Of Starting A Cyber Security Business In Dubai, UAE
If you have the skills and experience to run a cyber security consultancy or training business, launching in Dubai will bring some serious benefits:
- High Demand: As noted above, both public and private sector organisations in the UAE are currently planning to expand their investments in cyber security protections and training. This means that your businesses and services will constantly be in demand.
- Low or No Tax: Dubai is a famously business friendly jurisdiction and offers fantastic perks to innovative businesses. And in free zones like Meydan Free Zone, there is a 0% corporate tax rate, which means your company can retain more of its profits.
- Interesting Work: With many large and sophisticated businesses in the emirate, you will have opportunities to support complex organisations on long-term and intellectually stimulating contracts.
- Government Encouragement: As reported above, the UAE government plans to introduce new cyber security standards for public sector organisations; this shows that the government is fully on board with encouraging cyber security across the nation.
- The Technology Ecosystem: Dubai is an internationally recognised hub for technology, and this means you will be working close to many other cutting-edge companies that can provide support services, staff and hardware that your Dubai cyber security business needs.
Steps To Start A Cyber Security Business In Dubai, UAE
If you plan to start a cyber security business in the UAE, you will first need to get a trading license. The following five steps describe how you can get this license.
1. Select Your Business Activity
The first step to getting a cyber security business license in Dubai is to select your business activity. The government has created a number of licenses for cyber security businesses, including:Cyber Security Consultancy
Encryption Software Trading
Cyber Risk Management Services
Auditing, Reviewing & Testing Cyber Risks
And many othersWe can advise you on the most appropriate license for your company at Meydan Free Zone.
2. Choose A Trade Name For Your Dubai Cyber Security Business
Your trading name needs to succinctly describe what your company does, and it must not use terms that could be considered offensive or potentially blasphemous. Further, the brand must not contain any acronyms with your own name. For example, Sven Gerhart Cyber Security would be fine, but SG Cyber Security would contravene the rules.To find out more, visit our website, or get in touch with us via setup@meydanfz.ae or 800FZ1.
3. Choose The Location Of Your Cyber Security Company
Selecting a business location is a vital step in starting your cyber security business in Dubai. Many IT-managed services and cyber security firms choose to base themselves at Meydan Free Zone because it offers a 0% tax rate and 100% foreign ownership. Our location in central Dubai means you are close many businesses who are operating in the central business district and need your services.We can advise you on setting up your free zone company at Meydan Free Zone, and provide the support you need to make your cyber security consultancy a success.
4. Complete Your Application And Pay Fees
In order to receive your Dubai UAE cyber security business license, you will need to complete your application form and provide a range of documents and paperwork. Paying the associated fees as part of your business license application is also essential.
5. Receive Your License And Open A Business Bank Account
Receiving your license to run a cybersecurity company in Dubai takes just a few days – so long as all your paperwork is in order and your application form and fees are all correct. At Meydan Free Zone, we can support you by ensuring that all your paperwork complies with the requirements and avoids unnecessary administrative errors.Once your license has been approved, the final step is to open a business bank account so that you can make and receive payments – Meydan Pay is our simple digital banking solution for businesses working in our free zone. It gives you an IBAN and digital wallet with all the necessary features to start making and receiving payments.
Open Your Zero Balance Business Bank Account
Cost Of Starting A Cyber Security Company In Dubai, UAE
The cost of starting a cybersecurity business in Dubai varies depending on the number of visas you are applying for, along with your application. If no visas are required, it can cost as little as AED 12,500, going up to AED 23,600 for six visa allocations. This figure includes your business license and associated fees.
For a quote tailored to your business and the number of visas you need to apply for, contact Meydan Free Zone today, and we can give you a precise figure for how much your wholesale trading license will cost.
Besides the license costs of starting a cyber security company in Dubai, you will also need to consider other start-up costs, including hardware, marketing materials and specific cyber security technology such as pen testing software.
Use Our Calculator Now And Get A Discount On Your License
Documents To Start A Cyber Security Company In Dubai, UAE
If you would like to start a cyber security consultancy in Dubai, you will need to provide the following documents as part of the application process. At Meydan Free Zone, we can support you with all steps in compiling these documents and verifying them for any errors:
- A completed application form which describes what cyber security services you will offer
- Copies of your passport and passport size photos
- A copy of your residence visa (if applicable)
- Emirates ID copy (if applicable)
Why Meydan Free Zone?
Meydan Free Zone, located in central Dubai, is the ideal place to launch your cyber security business. Our free zone is already home to several high-tech businesses, thanks to its high-powered internet connections and IT services, amenities and a fantastic location close to many potential customers. Our experienced consultants can support you with all aspects of business setup in Dubai, which means you can focus on starting your cybersecurity business – and leave the admin to us.
To find out more, visit our website, or get in touch with us via setup@meydanfz.ae or 800FZ1.
We also provide several additional services to any company looking to launch a cyber security firm in Dubai, UAE. For example, Meydan Pay provides you with a digital wallet and an IBAN, which allows you to receive payments from your customers anywhere in the world. Learn more about Meydan Pay here.
Similarly, Meydan Commerce is a unique offering that helps cyber security firms sell their products and services online. And, if you are starting, our Easy Payment Plans allow you to spread the cost of launching your free zone business over several months.
With ever more demand for cyber security services, now is an excellent time to launch your Dubai Cyber Security business. Contact Meydan Free Zone today, and start tackling cyber criminals fast!
