After the informal ban on UAE travel, which country/city is feasible for Pakistanis to register a tech startup in order to avoid the toll of political and economic turmoil. A question asked by serious entrepreneurs.
Here is the answer, as shared by our COO & CEO who visited the country recently.
Uzbekistan -
Uzbekistan is incredibly under rated. Muslim country. Lovely polite people. If you open a startup in IT Park Uzbekistan you get exemptions from corporate & personal income taxes, VAT, and customs duties until 2040.
You also get free office space for 12 months, followed by rental at average market rates or with a purchase option with interest-free installments; free technical equipment for up to 100 employees and partial coverage of HR costs. Wage reimbursements are offered based on company size: 5% for companies with 20–50 employees, 10% for companies with 50–75 employees; 15% for companies with 76 or more employees.
The IT Visa program grants a multiple-entry visa for up to three years, with the possibility of extension upon the applicant's request without requiring them to leave the territory of the Republic of Uzbekistan. Visa holders can access education and medical services under the same conditions as citizens of Uzbekistan, reside in any region without the obligation to re-register their place of residence, and acquire real estate of any value. The program is available to foreign investors, IT specialists, founders (participants) of member companies, foreign professors (Candidate of Sciences, PhD, DSc) in the field of information technologies, individuals acting as the sole executive body or chairperson of the collegial executive body of member companies, as well as their deputies, founders (participants), and specialists of startup projects. These conditions also extend to the family members of IT Visa holders.
I have visited the IT Park Uzbekistan in Tashkent and was part of a group given briefing by the leadership. I was left deeply impressed by the vision of the leadership and the quality of infrastructure. I think Pakistan is getting stable and it is a great time to build a startup here (regardless of poor infrastructure shortcomings, & highly unreliable taxation policies) but if you want to leave regardless then do consider
https://www.outsource.gov.uz/en
