An Expat’s Guide to Living and Starting a Business in the Dubai Silicon Oasis
As the race for tech talent and investors heats up, companies are continuously looking for ways to expand to different locations around the world, and expats are searching for better places to live. In this regard, one of the best locations to relocate is Dubai’s Silicon Oasis.
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This Pacific Prime Dubai article will explore the meaning of the Silicon Oasis, how companies and expats may set a foothold in the tech oasis, the quality of life, types of properties, and the future of the Oasis.
Why is it Called the Silicon Oasis?
With a capacity of 97,740 square meters of commercial space purposed for office lease, Dubai’s Silicon Oasis serves as an ecosystem for tech collaboration. Companies of all sizes, including multinationals, startups, and medium-scale enterprises, are encouraged to establish footholds in the tech capital.
The area comprises lush green parks and interconnected courtyards for leisure, hospitals, universities, schools, and shopping complexes designed to accommodate and offer the highest quality of living to its residents while also providing the best commercial, social, and business environments.
How Companies Can Set Up in Dubai’s Silicon Oasis
The Dubai Silicon Oasis Authority (DSOA) provides attractive incentives for expat communities and investors to live and work in the free zone. Here’s how you may potentially set up shop in the bustling tech park.
Currently, Dubai’s Silicon Oasis offers opportunities for the following company types:
- Branch companies: Entities established in the UAE or abroad. They are also required to conduct activities identical to those of their parent company.
- Free zone establishments: Entities registered under a single shareholder.
- Free zone companies: Entities registered under a minimum of two shareholders.
The following companies may register for the following operating licenses:
- Service licenses: These licenses enable the registered businesses to operate and carry out their specified services.
- Trade licenses: These licenses enable the registered businesses to carry out activities related to the importation, exportation, and distribution of goods as specified by their licenses.
- Industrial licenses: These licenses enable the registered business to import raw materials to be processed and manufactured into finished products ready for packaging and export.
In special cases, businesses may register for licenses enabling them to operate in private zones and provide developmental support to young entrepreneurs and businesses, such as:
- Business operation permits: This particular permit enables businesses to operate within DSOA Administrative Zones (privately owned by developers), which are issued by the Dubai Economic Department (DED).
- Entrepreneurial business licenses: These licenses are aimed at spurring the development of promising young entrepreneurs and businesses through the provision of resources and services.
Is Dubai’s Silicon Oasis a good place to live?
With a sprawling yet organized environment of commercial projects, apartments, office buildings, warehouses, development centers, manufacturing plants, and logistical and distribution hubs, residents of the Dubai Silicon Oasis may easily find everything they need, as long as they know where to look.
As a result, the free zone is considered one of the most convenient and productive places an ambitious expat can relocate to and live. Here are the key reasons why the tech oasis is a good place to live:
1. Variation of Properties
Many properties available for rent, purchase, or investment in the Silicon Oasis come with the addition of state-of-the-art amenities such as gyms, pools, and leisure facilities. These properties are modern and spacious, providing expat families with comfort, convenience, and enjoyment.
The available types of properties are:
- Residential apartments
- Villas
- Townhouses
2. Technologically-advanced, Innovative, and Well-connected
Companies from all over the globe have decided to set up shop in the Silicon Oasis, and there are good reasons for this. With every company situated within reach of each other, the residents can easily network, seek better employment, and open up new possibilities for innovative tech partnerships.
3. Easy Access to High-Quality Education
Apart from drawing the interest of top tech talent and high-profile investors, the Silicon Oasis is also home to some of the best schools, universities, and academics, providing residents with the opportunity to further their education or send their kids to school.
4. Affordability
Despite the UAE’s reputation for luxury, the Silicon Oasis offers its amenities and properties at affordable prices. Surprisingly, life in the Silicon Oasis is less expensive when compared to other areas of Dubai. One of the reasons for this is the park’s strategic location away from busy areas.
5. Tourist Facilities
While the Silicon Oasis has made it extremely convenient and affordable for expats and investors to live, it also offers a range of serviced apartments, guesthouses, and hotels to tourists, allowing them to enjoy comfortable and cost-efficient options during their visits.
How Many Companies Are in Dubai’s Silicon Oasis?
There are nearly 5,000 active businesses operating in the Dubai Silicon Oasis, and tech remains the most promising sector, where companies are starting to branch into novel areas such as agritech, healthcare, gaming, education, and space tech.
What Does the Future Hold for the Silicon Oasis?
Thus far, the development of the Silicon Oasis has followed in parallel with the overarching UAE Strategy for the Fourth Industrial Revolution, wherein futuristic applications merge materials, biodigital technologies, blockchain, and artificial intelligence.
The key pillars of this plan aim to facilitate the adoption of genomic medicine and medical genomic tourism and strengthen the nation’s economic security and digital economy. In the future, we can expect the Silicon Oasis to be a frontrunner in AI and nanotech.
Conclusion
As the business world progresses into newer frontiers with AI and nanotech at the forefront of their operations, the competition for top tech talent will culminate in which country offers the best quality of life. In this Pacific Prime Dubai article, we’ve presented you with the Silicon Oasis.
If you are planning to relocate or seek better career and investment opportunities in the tech oasis, it’s important to ensure that the process is smooth by getting international health insurance for yourself or family health insurance for your family.
Lastly, to truly flourish in the UAE, choosing the right insurance plan for your unique needs and shielding your business with property and casualty (P&C) insurance is essential. It is also important to keep up with the latest visa requirements and developments. You can read more in our blog section.
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Frequently Asked Questions
- Is Dubai’s Silicon Oasis a free zone?
Yes. Dubai’s Silicon Oasis is a 100% government-owned free zone that encourages technological development in all industries.
- Is Dubai’s Silicon Oasis freehold?
Most properties within the Dubai Silicon Oasis are mainly leasehold. Only villas are offered as freehold properties.
- What industry is popular in Dubai’s Silicon Oasis?
Broadly speaking, technology is the most popular industry in the Silicon Oasis. Tech development is extended to all sectors, whether education, healthcare, manufacturing, or logistics.
Upon graduating from Mahidol University International College’s International Relations program, he spent his career in marketing and business development, working for an international subcontractor, a marketing research firm, an international news agency, a software development company, and a creative agency. His journey now continues at Pacific Prime, where he hopes to make an impact by simplifying insurance.
In his free time, Piyanat is an avid martial artist and musician, spending most of his time at boxing gyms in Nakhon Pathom and music studios with his friends in the music industry. He’s also a big fan of turtles.
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