Investorsfrom around the world are welcomed with open arms in Dubai. Over the past decade, the UAE has made doing business in the emirates easier than ever before. Besides benefiting from a 0% tax rate on corporate and personal income, foreign business people in the UAE are also free to retain 100% ownership of their businesses. The UAE recently introduced long-term visas, which allow foreigners to stay here for longer periods and perhaps retire here when they retire. It is possible to start a business in the UAE even if you are not a resident. Non-residents can set up a business in the UAE and run it from anywhere in the world since it is so easy to start a business here. Here are some of the ways Business Incorporation Zone can help you get your company started, no matter where you are.
Advantages of Starting a Business in Dubai:
In addition to its excellent office and residential accommodations, strong transport links, and sophisticated financial and service sectors, Dubai has a very well-developed transport, social and economic infrastructure. The Global Infrastructure Investment Index ranked Dubai as one of the most attractive infrastructure investment locations in the world. Located in the middle of the world, Dubai has another major advantage. Thus, strong trade links are established with major cities such as Moscow, Hong Kong, London, Hamburg, etc. A top trading hub, Dubai hosts over 100 international trade shows annually and has achieved exceptional trade growth.
Dubai businesses can take advantage of these fairs to network with multinational companies and explore new opportunities without having to sacrifice their regular operations.
Does Dubai allow non-residents to start businesses?
Most of the time, yes. Depending on your nationality, the country of your tax residence, and the type of business you wish to start, there may be certain conditions. Depending on the situation, a local sponsor may be required to hold a 51% stake in your business. For their services, they are paid a pre-agreed fee, but are not involved in decision-making.
As a non-resident, you can benefit from the UAE's 0% corporate tax rate, but not on your personal income, depending on your country of tax residency. After a brief consultation, ITQAN can offer advice.
Licenses Types in Dubai:
Foreigners starting businesses in Dubai can apply for two types of business licenses. A mainland license is the first type. Business licenses for mainland UAE are available here. Non-residents, however, may need to work with a local sponsor to trade, as explained above.
A free zone is another option. If you are a foreigner or non-resident in the UAE, this is the easiest and most cost-effective way to get started. There may be no restrictions on currency restrictions, no customs tax, and no sales tax depending on the free zone.
Most Important Steps to Start a Business in Dubai:
1- In spite of the fact that setting up in Dubai is designed to be a straightforward process, there is still some administrative work to be done, especially if you aren't a resident. Hence, it would be beneficial to work with a local expert like ITQAN at this point. If you let us review your documents before submitting them, we can ensure all are accurate and in order.
2- You should determine the appropriate license type for your business based on the type of business activities you intend to carry out. An industrial license, for instance, will be required if your business activities fall into the category of manufacturing or industrial. The buying and selling of goods - i.e., the commercial sector - requires a commercial license.
3- With a short consultation, ITQAN can help you decide which location is right for your business - in a free zone or on the mainland. You will have to weigh your individual circumstances as well as your desired type of business when answering this question.
4- Names for companies in Dubai differ from those elsewhere in the world. As a result, there are naming conventions you must follow. Be careful not to use any offensive or blasphemous language. ITQAN can check to see if your desired name is available before registering it for you. Avoid names of well-known organizations and abbreviations if naming your company after yourself.
5- Let's move on to the last step - getting your trade license. The Dubai Department of Economic Development (DED) is the appropriate body to contact if you're setting up business on the mainland. You can apply directly to the managing authority if you are setting up in a free trade area.
Dubai business registration documents:
It is usually necessary to provide the following whether you are setting up in a free zone or on the mainland:
- The application form must be completed
- Incorporation documents (if applicable)
- A copy of each shareholder's passport
- Activities that are intended to be carried out by the business
For example, one visa application and use of the free zone's co-working facilities are included in a license package in Fujairah Creative City. It is difficult to estimate the exact cost of starting any new business without knowing all the variables involved. ITQAN can provide you with an accurate estimate of the total UAE company registration cost by discussing your requirements. An accurate and personalized quote can then be provided.
ITQAN can help you to start a business in Dubai
As you can see from this guide, setting up your business as a non-resident or foreigner doesn't have to be overly complicated if you have the right knowledge. Although it does not require a lot of prior knowledge, it does require a certain level of familiarity with the process.
Additionally, your license application can only be processed smoothly if it is complete and error-free at the time of submission. Establishing a new company in the UAE is easier with the help of a Dubai business setup specialist, such as ITQAN.
With many years of experience in company registration, we are passionate about helping aspiring entrepreneurs and SMEs succeed.
ITQAN can also assist with opening a corporate bank account and recommend an appropriate financial institution based on your specific requirements along with assisting with your license application.
As part of our service offering, we also provide immigration and visa services, handling all government formalities, permissions, work permits, and visa applications required for trading in the United Arab Emirates. Our experts can assist you in establishing your company, obtaining licenses and visas, and handling all the necessary administrator duties - leaving you free to focus on your business.
Contact us today to start your buisness in the best pieces worldwide.
