It’s no secret that there’s a lot of information to consider when selecting the best free zone for your specific business needs, including location, price, type of business, Flexi-desk or office options, auditing, accounting, and share capital requirements, among others. We walk you through it step-by-step, steering you in the right direction, saving you money, and ultimately making the entire experience as stress-free as possible. In Dubai and across the UAE, we offer niche business setup services. We assist multinational companies and SMEs to enter the UAE markets quickly. In addition to meeting the initial needs of business setup in Dubai, we also create a broader scope for your business.
The UAE offers investors three options for registering a business: mainland (onshore) free zones (self-regulating emirates) or offshore. Choosing where to locate your company’s presence in the UAE will be easy when you work with us.
Our company will act as your 51% local sponsor in Dubai. You will have 100% financial and operational control, and your LLC shareholder rights will be protected. The agreements and documents used have been tried and tested for almost 10 years and have been adapted over time to remain cutting edge.
Business-setting in Dubai has now been made easier by ongoing and ambitious reforms aimed at making it as easy as possible for entrepreneurs, entrepreneurs expanding, and service providers. Due to aggressive legal reforms such as long-term visas and introducing free zones, Dubai has been steadily ascending as a global commercial capital and simplifying business operations for foreign owners. Due to all of these factors, Dubai is an extremely attractive place to start a business, especially for foreign nationals. We take a look at the top reasons for establishing a business in Dubai this year. In recent years, Dubai has solidified its position as a regional hub for trade and business. According to a recent survey of global business hubs, the UAE is now ranked 15th. A well-connected transportation system, the absence of business taxes, and the development of Dubai’s financial sector are cited as factors contributing to the city’s global prominence in the survey.
Other than oil, the emirate has been trying to diversify its economy. History shows that this strategy has mixed results, resulting in the 2008/09 debt crisis. However, it also contributed to a widespread business-friendly reputation, courtesy of the government’s encouragement of regulations across different sectors. Business regulations and laws in the UAE are favorable towards operations within its borders, and more are planned. UAE government passed foreign direct investment (FDI) law in 2018 to stimulate investment. Those changes will not only make it easier for businesses to set up shop here, but will make things so much easier for those businesses that already do so. The law allows foreign companies to own up to a 100% share of their companies, among other provisions to benefit foreign investors. Direct foreign investments swelled by 41% last year in Dubai. The emirate achieved US$10 billion in foreign direct investments in a fiscal year for the first time, according to the state agency responsible for foreign investment promotion. There is no doubt that this economy is open and receptive to foreign investors and business owners.
Company formation in Dubai has never been easier. This statement would have been true at any point over the past decade or so, but right now the signs are especially promising. A new ambitious project is announced or delivered almost every week in the UAE. The country’s projected growth makes it a trend worth following. The good news is that company formation in Dubai is both simple and fast, with strong incentives, notably in the form of the UAE’s free zones. While you may open a business onshore or offshore in the UAE, it is particularly popular with foreign entrepreneurs that you do so in a free zone. The government offers 0% corporation and personal taxes, 100% company ownership, 100% repatriation of capital and profits, and no currency restrictions. Although the technical, administrative, and financial aspects of company formation in Dubai can seem intimidating, following a simple step-by-step process with the right support, is far more straightforward and affordable than you might expect. We have assisted many companies in establishing themselves in various free zones and can break down the 6-step process into six basic steps.
A business’s nature affects which free zones it can or should operate in. A free zone that primarily permits certain businesses, such as media, medicine or transport, is often a good idea, regardless of the restrictions. Also consider the transportation links. Your business will probably benefit greatly from free zones located near airports or ports if it relies heavily on imports and exports.
Identify a company name that adheres to UAE naming conventions before you commit. It is forbidden to use names with offensive language, as well as names that refer to Allah, Him, or to any other religious, sectarian, or political group, such as the FBI or Mafia. If you are naming your business after a person, it must be their full name and not an initial or abbreviation.
As part of your application, you are required to provide a copy of shareholders’ passports along with your company name and activity. In some free zones, you will need more documentation.
Upon processing your application, the government will issue you your company license. Our business consultant dubai will notify our clients when their documents are ready for collection.
As soon as your paperwork is returned to you, you will be able to open your corporate bank account. A number of local and global banks operate in the UAE, including Emirates NBD, Abu Dhabi Commercial Bank, the Commercial Bank of Dubai, among others.
Finally, Dubai company formation ends with the last step. Several free zones allow you to apply for staff and dependents as well as your own visa. The exact number will depend on which free zone you choose to set up your business in.