Business Setup in Dubai
Business Setup in Dubai
Why Setup a business in Dubai?
If you are looking for a truly dynamic business experience then Dubai is a place for you. The business setup in Dubai has not just one but multiple reasons. Dubai gives opportunities to entrepreneurs, small businesses, big giant multinationals, startups with the same amount of efficiency, speed, ease, and service. Multiple choices are available for all kinds of businesses, you can choose a budget, license, location, and premises matching with your business needs. Below are a few top reasons why Dubai should be your top priority for you to start a company.
One of the most compelling reasons is that Dubai now ranks 15th amongst the top global commercial centers. The expeditiously growing commercial hub has its perks especially for the new startups looking for a growth base or for companies looking to expand their business in a different country.
Dubai is known as a leader in this regard because of the top following reasons
Dubai provides an excellent commute system
Low to zero taxes for new business setup in Dubai
Dubai is an oil-driven economy and the financial system of the country is stable.
People think of business setup in Dubai majorly because of tax exemptions as Dubai is a free trade economy and there are no taxes on personal income. Not only Dubai, but Business setup in the UAE also gives you huge tax benefits. UAE government always wanted to build a business-friendly system in the country and since it is now implemented, foreign investors are more interested to set up a business here to enjoy tax benefits.
Business setup in the UAE or business setup in Dubai is very direct and simple. One reason why UAE ranks so high in ease of doing business is that UAE has developed many free zones in Dubai and which allows 100% ownership and big chunks of tax exemptions.
Dubai’s notable and highly modernized infrastructure holds value in the entire world. Investors from all over the world are interested to invest in Dubai’s market because it offers numerous free zones of international standards, modern seaports, and a magnificent airport. Not only this, but Dubai’s highway network has made travel also very simple and easy. The telecommunication and undisturbed power supply and lots of other facilities make Dubai an ideal place to set up their company here.
Highly Accessible Location
Another reason for business setup in Dubai is its highly accessible geographical location. It falls at the center of the Commonwealth of Independent States (CIS) and Africa. Around 85 airlines are operating in Dubai currently and these airlines fly passengers to 130+ destinations all around the world. Its airport is the world’s busiest by international passenger traffic. Connected by approximately 120 shipping lines, Dubai is the most easily accessible destination from anywhere globally.
Friendly Business Setup Firms
To set up a business in UAE, you will not get overwhelmed by the regulatory measures, legal procedures, and the whole process. Once you have decided to form a company in Dubai, you only need to provide your passport copy and suggest the name of your startup, rest will be done by business setup consulting firms. Business setup firms like Eagle Wings UAE can help you with the registration, legal procedures, licensing be its commercial trade, an industrial trade, professional or tourism license, and certifications required for business setup in the UAE.
Business setup in the UAE or Dubai is a very straightforward and uncomplicated procedure. If once all documents of the business owner are approved, it takes no more than a week for business setup in the UAE. From business sponsor services and PRO services to business activities and bank assistance, Eagle Wings UAE covers everything.
Steps to set up a business in Dubai
Once you have decided to start your company in Dubai, you will then enter the phase of planning, research, conceptualizing budgeting, and then finally you will start to set up.
To set up a business in Dubai, you need to follow certain steps. Those certain important steps are as follows.
Select a business activity for your entrepreneurial venture.
Select the jurisdiction where you want to set up a business. UAE is divided into three main zones, Mainland, Free Zone, and Offshore, each of which has its own rules and regulations offering different business needs.
Finalize the legal form. Company structures under which a person registers their business in UAE are the sole establishment, local company branch, limited liability company (LLC), civil company, GCC company branch, free zone company branch, foreign company branch, and holding company.
Get your company name and activity approved.
Apply for a license, there are four licenses in UAE or Dubai which you can choose from, commercial trade license, professional trade license, industrial trade license, and tourism license.
Register your business.
Look for a local agent if your business needs it.
Get your external approvals from other or non-government agencies.
Understand, prepare and draft your business’s Memorandum of Association (MoA).
Rent an office space.
Get your tenancy agreement, an agreement between you and the real estate agent whose office space you intend to get on rent.
Get approval from DED to start your business.
Submit all documents and collect your license.
How much time will it take to set up a company in Dubai?
The process may seem to be lengthy, however, it will only take a few weeks if done right by following the right steps and by getting assistance with the right business setup agency. If you have all your necessary documents approved by different government agencies, setting up a brand-new company will not take more than a few weeks. Business license and registration can take three weeks but depending on your business, if it requires any attestation from a different judicial body, it may prolong the process.
Business setup in the free zone areas can take anywhere between 3-10 days while an offshore company formation can be really quick, within 48 hours if you have the suitable resources at hand