When it comes to promoting digital innovation, Dubai can rival any other country around the globe. The new artificial intelligence (AI) and Coding License launched by the Dubai International Financial Center emulate this aspect of the business formation in Dubai. The AI ​​& Coding license is the first to be launched in the country, making the business formation environment in DIFC more alluring for innovative entrepreneurs. Beyond view, Business setup consultants in Dubai can advise you on how to get a license.

The Artificial Intelligence (AI) and Coding License was launched to encourage investment in Artificial Intelligence (AI) and attract companies and coders from around the world to relocate to the UAE. Another goal of this License is to achieve the vision and objectives of the UAE Artificial Intelligence Strategy 2031. Before you apply for this License in Dubai, you need to know its requirements and features. This blog will elaborate more information on the pioneering AI & Coding license in DIFC free zone

Details of Artificial intelligence

Artificial intelligence is the reproduction of human intelligence processes using machines, most importantly computer systems. Specific applications of artificial intelligence include expert systems, speech recognition, natural language processing, and machine vision.

Artificial intelligence is a method by which a computer can interact with data through statistical analysis, allowing it to understand, analyze and learn from data through specially designed algorithms. This is an automated process. Artificially intelligent machines can remember behavior patterns and adapt their responses to accommodate or support those behaviors.

Some core technologies that makeup AI are machine learning, natural language processing and deep learning. Some popular AI implementations include Google Maps navigation, search algorithms, facial detection, ChatGPT, digital assistants, and electronic payment solutions.

AI & Coding License in DIFC

The year 2023 seems to be full of superb opportunities and amazing surprises. Anticipate the way for AI companies and people around the globe to migrate to the United Arab Emirates. Launched on Tuesday, 1 March 2022, the Artificial Intelligence (AI) and Coding License is the key to your bright future in the city of your dreams, Dubai.

As part of the UAE’s AI Strategy 2031, a unique initiative taken by the Dubai International Financial Center in partnership with the UAE Artificial Intelligence Authority is expected to attract 100,000 coders to the UAE by 2026 by adding an AI investment opportunity.

The objective of AI & Coding License

The main objective of the Artificial intelligence & coding license is to uplift investment in AI and attract AI businesses and coders from around the globe to move to the UAE. Another goal of this License is to achieve the vision and objectives of the UAE Artificial Intelligence Strategy 2031. The License enables corporations to operate in the DIFC Innovation Hub, the largest cluster of FinTech and innovation companies in the region, representing over 60% of all FinTech countries in the Gulf Cooperation Council. And the joy of joys, the License also offers companies the opportunity to obtain UAE Golden Visas for their employees.

DIFC Innovation License

The main objective of the DIFC Innovation License is to acquire financial technology in town. The DIFC Fintech Hive will play a crucial role in the growth. It will provide different kinds of startup perks. The startup license will be granted to almost all technology startups such as edutech, regtech and fintech. Any business that wants to expand in the country can do so with the help of a license. The DIFC is also seeking to reduce office space charges. It is working to create an ecosystem to help angel investors get the benefits of venture capital in a company.

Benefits offered by an AI license in DIFC

Having an AI license in DIFC can prove highly beneficial. Therefore, the most important Benefits of Artificial Intelligence License include the following:

• The well-subsidized licensing fee for up to 4 years is $1,500/yearly.
• Zero setup and registration fees
• Ability to start a business in the innovation hub of DIFC
• Waiver of $50,000 minimum share capital requirement
• Minimum co-working desk space $500 per month, payable monthly or yearly
• Up to 4 visas approved on minimum co-working desk space
• Visa costs are reduced by up to 50%
• Golden visa options

Another reformation of the UAE government to support the AI ​​industry

From creating the UAE Council for Artificial Intelligence to launching several programs, the government is making significant progress in supporting the AI ​​industry. In the field of education, several universities offer undergraduate and graduate courses in artificial intelligence. In addition, scholarships are also provided to students studying courses in the UAE and abroad. Initiatives such as the National Coder Programme, the UAE AI Internship Program and the AI ​​Summer Camp aim to foster IT talent and innovation.

The process of obtaining a DIFC AI & Coding license

To obtain an artificial intelligence and coding license in DIFC, you must register as an Innovation License. Thus, the Dubai Financial Service Authority will administrate all the activities. The business setup process in DIFC is straightforward and can be completed in just a few steps. You can save yourself further headaches by applying through Beyond view, a company of business setup in Dubai instead of contacting the Free Zone Authority directly. The process of obtaining a DIFC AI & Coding License consists of the following steps:

• Submission of a business plan detailing the idea and KYC
• The DIFC will issue an initial approval if the authority likes the idea
• Apply for a license with the registrar by submitting your activities, company name and legal structure
• Submission of documents
• The DIFC issues the License
• Apply for visas and bank accounts

Cost of getting an AI license in the DIFC

1. The registration fee which is $100
2. License fee, which $1,500 yearly
3. Data Protection Fee, which is $250 (1st year, $200 after that)
4. Co-working space, which is $500 (monthly)

Why choose Beyond View as your consultant?

Setting up a business in DIFC is flexible as the free zone offers excellent support services for startups and other companies. However, foreign entrepreneurs may struggle with some procedures due to their lack of knowledge of UAE immigration laws and labor law. This is where business setup consultants in Dubai, like beyond view, can come in handy. Beyond view is a leading provider of efficient services of business setup in DIFC freezone with years of experience in helping individual entrepreneurs, start-ups, and multinationals.

Our highly qualified consultants can help you get an AI and coding license in DIFC freezone, as they are well-versed in such matters. We offer services such as drafting documents, opening a bank account and processing visas for business owners, employees, and families. Beyond view also helps your business comply with Economic Substances, Ultimate Beneficial Ownership and AML and Countering the Financing of Terrorism laws. Contact us. We’d love to assist!