A Business Setup in Dubai can be a lucrative opportunity to expand a company’s reach internationally and establish a reputed brand name. Whether you are a small, medium, or large business, you can take advantage of Dubai’s state-of-the-art infrastructure, strategic location, and easy access to nearby markets, superior connectivity that makes it stand out from the world. This is the reason why there is a trend of business formation in Dubai in the Middle East.
In fact, Dubai’s Department of Economic Development (DED) reported a 13% year-on-year increase in new startups looking to do business in the city-state. Dubai’s growing economy offers many opportunities. Profits are being returned in the services, finance, business, real estate, and property sectors. Furthermore, it is one of the world’s most cosmopolitan cities.
So if you want to start your own business set up in Dubai, it is important to be familiar with the steps and processes you will need to go through, and some decisions to make.
Offshore Business Setup in Dubai
Offshore business formations are designed to reduce taxes and increase profits. To facilitate offshore company formation in Dubai/UAE, the government has assigned jurisdictions to Jebel Ali, Ras Al Khaimah, and Ajman. The governments of both countries have provided generous financial, financial and proprietary legal aid for offshore businesses.
Dubai, United Arab Emirates, is a great place to set up an offshore company.
- You will be active for three to four business days after submitting the required documents!
- Wholly foreign ownership is allowed 100 percent.
- A written agreement or deed can be used to transfer the shares.
- Shareholders’ liability is limited to the amount of their initial investment in the business.
- The confidentiality of the identity of the shareholders of the company
Choosing a Free Zone Area
If you want to fully adopt your business without any partners, then choosing a free zone area may be the right category for you.
Free zone areas will let you enjoy various benefits apart from 100% ownership. This includes the fast process of setting up your company and getting help with many business matters such as recruitment processes.
A free zone seems to be an optimal choice, however, if your business is a business type, it is important to note that a free zone may not be a suitable option. A free zone does not allow direct trade with the UAE market and a 5% customs fee is added when trading in the local market.
Mainland Company Formation
Mainland LLC company formation is one of the most common forms of business setup in Dubai as it allows investors to do business within the UAE market. Forming an LLC company in Dubai requires a UAE citizen as the local sponsor with at least 51% shares in the company. Business Setup Consultants in UAE help investors choose the right business activity, obtain approval from the Department of Economic Development (DED) and file necessary documents and paperwork.
Issuing a Trade License
Your trade license is issued by the Department of Economic Development in Dubai. A business license allows you to run your business in Dubai. Having a trade license is an important process to start your business. There are different types of business licenses in Dubai, it is important to know which one to be issued to you and the steps you will need to take to obtain it depending on your business type.
Business license categories include:
Commercial License – Issued to traders.
Industrial License – Issued for manufacturing or industrial businesses.
Professional license – Issued for businesses that provide services or for professional businesses.
Get Started Today
Get to know how Aston Advisory can help you set up a new business in Dubai, UAE. We are here to help you up your entrepreneurial game. With our qualified Business Setup Consultants in UAE by your side, you don’t have to worry about anything while setting up a company in Dubai or any part of UAE. Feel free to call us today and book your free consultation.
