Dubai is one of the world’s most inviting cities to foreign investment enabling business setup in Dubai. The emirates have made it easier than ever for entrepreneurs from all over the world to start businesses in the UAE.
Foreign investors can not only benefit from the UAE’s 0% corporate and personal income tax rate, but they can also keep 100% business ownership in most situations. Furthermore, recent visa modifications include the issuance of long-term visas, which allow foreigners to stay in the UAE for lengthy periods of time and retire there at the end of their careers.
Starting a business in Dubai is simple if you have the necessary backing as a foreigner and can operate from anywhere in the world.
Let’s see how the specialists at Register Business in UAE can get your company up and operating no matter where you are.
Is it possible for a foreigner to set up a company in Dubai?
Depending on the circumstances, the answer to this question is yes. However, there may be conditions that affect the business establishment, such as the type of business you wish to establish, your nationality, and the country in which you reside.
In most circumstances, you will require a local sponsor who will own 51% of your company. The local sponsor, on the other hand, is not involved in decision-making and is paid a pre-agreed-upon fee for their services.
As a result, as a foreigner, you can benefit from the UAE’s 0% corporate tax rate. However, whether you can profit from this rate on your income will be determined by your residency country. After a brief conversation, Register Business in UAE can assist you.
Steps to follow to start a business in Dubai as a foreigner
Although the process of establishing a business in Dubai is simple, there is some paperwork to complete, especially if you are a foreigner. At this stage, it’s advisable to deal with a local specialist like RegisterBusinessinUAE. Before you register for business registration in Dubai, we will double-check all of your paperwork.
Choose the type of business
The type of business you intend to start will influence the ideal structure and the type of business license you need. A commercial license, for example, is required if you wish to start a commercial business in Dubai, such as buying and selling products and services.
Although 100% foreign ownership is permitted in many circumstances, foreign investors should establish a free zone business where 100% ownership is guaranteed.
Choose the Business Location
In Dubai, you can choose from more than 20 free zones for your business setup in UAE. However, each free zone has its own set of rules and regulations for business formation. To start a business in Dubai, you can choose between a free zone and the mainland.
Choose a Business Name
The procedure of naming your business differs slightly in the UAE from the rest of the world. When naming your company in Dubai, there are specific naming requirements to observe.
The name of the company should not be offensive or blasphemous. You should avoid calling your company after well-known organizations’ names or abbreviations. Check to see if the name you want to use is available for business registration.
Get a Business License
The next step is to obtain a business license in order to operate your company in Dubai. Remember that you must apply to the Dubai Department of Economic Development for a mainland business license (DED). Furthermore, if you want to start a business in a free zone, you can apply directly to the managing authority.
Advantages for Foreign Investors Starting Businesses in Dubai
Dubai has developed into a center of international trade with several commercial opportunities. The following are a few reasons why international entrepreneurs should participate in this thriving economy:
- The strategic location of Dubai serves as a gateway to both Africa and Asia.
- Dubai has world-class airports and seaports that make it easy to trade with the Middle East and Asia.
- Businesses in Dubai are exempted from corporate taxes, withholding tax, import or export tax, and capital gains tax.
- Dubai no longer relies on petroleum or natural gas reserves and thrives on sectors like innovation, technology, trade, and many more.
- The free zones in Dubai offer 100% foreign ownership.
- The Dubai Government help establish businesses and support business ventures.
The procedure of starting a business in Dubai has been created with simplicity in mind, and it is available to anyone because it does not require any in-depth understanding of the region and its numerous customs and rules. The application process is simple, and you must only apply with complete documentation at the time of submission.
RegisterBusinessinUAE provides consultancy services to help you set up your business in Dubai. Our business setup advisors can form your company on your behalf and handle all of the essential paperwork at no extra cost. For further information, please contact us or schedule a call with us.