Dubai’s Metaverse Strategy promises more than 40,000 jobs by 2030.

Dubai is generally one of the best locations for companies to start a business; the lenient tax programs, innovation, and infrastructure are some of the key benefits. But the recent changes have made it even more attractive for blockchain companies. Here’s why!

• The new Dubai Metaverse Strategy

Dubai’s crown prince recently launched ‘The Dubai Metaverse Strategy’ that plans to put Dubai at the forefront of the metaverse, web3, and crypto projects. The strategy has 5 main pillars; VR, AR, extended reality, mixed reality & digital twins. The aim is to attract more than 1,000 blockchain companies & increase their contribution to the GDP of the country overall.

“The Dubai Metaverse Strategy seeks to:

• foster innovation, enhance the metaverse’s economic contributions through R&D collaborations and promote advanced ecosystems utilizing accelerators and incubators that attract companies and projects to Dubai
• foster talent and invest in future capabilities by providing the necessary support in metaverse education aimed at developers, content creators and users of digital platforms in the metaverse community
• to develop Web3 technology and its applications to create new governmental work models and development in vital sectors, including tourism, education, retail, remote work, healthcare and the legal sector.” (as seen on u.ae website )

• Zero taxes

Yes, you heard it right. UAE offers great tax benefits for businesses operating here & companies can operate here without having to worry about corporate or personal taxes.

• Innovative regulations

Dubai financial authorities and free zones have launched special regulations like licenses e.g. distributed ledger technology service provider license and proprietary trading in crypto commodities license for businesses keen on doing blockchain-related work.

In addition, the Emirate has launched The Dubai Virtual Asset Regulatory Authority (VARA), which regulates, supervises, and controls virtual asset services. This is done with the aim to protect investors to promote Web3 businesses in the region. 

Expected to add $4 billion USD to the economy of the country, already various big names in the blockchain like crypto.com are making Dubai their hub. If you are interested to take a share of this pie, then get in touch with us to know more about how you can start your blockchain adventure in Dubai. Check our solutions or use the button below to contact us.