Leading Business Setup Company Plays a Pivotal Role in UAE’s Economic Diversification
Unprecedented Growth in 2024
So far in the first half of 2024, Smart Zone has assisted in establishing over 1,200 new SMEs and is the leading business setup services provider in the UAE’s growing entrepreneurial ecosystem. Up to now, Smart Zone has facilitated the setup of over 30,000 businesses, from residency visas and bank account opening to tax and accounting support. As the UAE continues to position itself for a leading role in business around the world, Smart Zone is helping 10,000+ new businesses find their footing by the end of 2025.
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Driving Economic Growth and Diversification
Smart Zone goes way beyond just forming companies to actually being one of the significant drivers of economic growth for the UAE. From a perspective of incredible 96% client retention, Smart Zone has grown to be an integral partner for businesses from very critical industries: e-commerce, general trading, real estate, and fast-moving consumer goods. These are some of the most vital industries which contribute to the diversification of the UAE economy, insulating it from overdependence on oil and growing the country’s GDP.
Varoon Sinha, founder of Smart Zone, elaborated further on the significance of entrepreneurship in building the UAE’s future: “The UAE is abuzz with entrepreneurial energy. A thrilling tide of innovation sweeps through our economy, and with a whole new range of bold ventures taking roots, they are shaping not only growth but also the future of a vibrant and dynamic UAE.”
Milestones in 2024
During the first half, over 5,000 Corporate Tax registrations were facilitated by Smart Zone in 2024 to ensure new businesses registered within the UAE are also in good standing with the pace of evolving regulations. Over 800 bank accounts have been created for clients in an effort to ease the process for more seamless operation of a startup.
This will be further empowered for startups and enhance the customer experience, as Smart Zone is investing over AED 500,000 in service upgrades throughout 2024. This investment underlines the company’s commitment to the UAE’s entrepreneurial ecosystem and ensures that new businesses have all the resources they may need to thrive.
Impact on Real Estate and the Wider Economy
This can be aptly provided by Smart Zone’s influence on the UAE’s real estate market, which provides 5.5 percent to the nation’s GDP. Having supported entrepreneurs take advantage of this booming market, Smart Zone contributes to changing the face of the country’s skyline and economy.
This growth has broader ramifications, which Sinha pinned down as follows: “The UAE real estate market is soaring to new height, which is fuelling a dynamic wave of growth, reshaping our nation’s skyline and economy. As visionary entrepreneurs take the lead, we are not only witnessing a boom but architecting the future. This momentum serves as a strong catalyst for the UAE’s prosperity, driving stability and innovation across the complete economy.”
A Commitment to the Future
In the psyche of continued diversification of the UAE economy, Smart Zone stands at the fore, with great ease in establishing businesses operating within it. Thus, the country’s rapidly evolving landscape keeps emerging. With the company’s commitment toward empowering business owners and fostering entrepreneurship, it secures its continued role in the economic success of the UAE.
The aim is to support more than 10,000 new businesses by 2025. Until then, Smart Zone will continue to cement its position as the backbone in the entrepreneurial ecosystem of the UAE. The contribution is not only in facilitating company formations but in actively and steadily growing the GDP of the UAE through a wide range of services.
About Smart Zone
Smart Zone is the first and leading business setup company in the UAE, driven by a passion for empowering the ultimate entrepreneur with holistic range solutions for setup and growth. From extraordinary service delivery to continued support inclusive of company formation, tax and accounting support, marketing, and concierge services, this company continues to make sure it stands for innovative ideas and entrepreneurship.
