Business Setup in Dubai
Dubai, with its diverse culture, amazing shopping malls and beaches, and tax-free living is a great place for expats. It is also an ideal place for businesses to open up offices because of its strategic location between Europe and Asia. The government has created a strong business environment with low taxes and minimum red tape. The UAE is one of the most attractive countries in the region for foreign investors, especially since the government passed a law to enforce 100% foreign ownership of companies. To open up your own office in the country, you have to register with the Ministry of Economy and Commerce. After you submit all the necessary documents, they will issue you with a Trade License and Business Registration Certificate (BR), which will allow you to start operating.
Here are the simple steps on how to set up a company in Dubai:
- Choose what business you want to be in
- Choose the type of company you want to open
- Open the bank account
- Choose the legal representative
- Obtain the trade license
15 Benefits of Opening a Company in Dubai
Dubai is a city that is known for its economic growth and high standards of living. There are many factors that make Dubai a great place to live, work and do business in. The government has implemented laws and regulations to ensure the safety and well-being of the citizens of Dubai. Some of these laws include the prevention of imprisonment for debtors, ensuring payment in full for goods or services as well as offering monetary compensation for victims of crime.
Opening a company in Dubai can be an excellent decision for your career. Here are 15 benefits to opening a company in Dubai.
- Impressive Infrastructure
- Fastest Growing Regions
- Easy Business Setup
- Simple Registration Process
- More Than 20 Free Zones
- No Commercial License Required
- An Active and Developing Economy
- Strategic Geographic Location
- Full Repatriation of Capital and Profits
- Easy Immigration Process
- No Currency Restrictions
- Low Import Duties
- Ideal Social Conditions
- Exceptional Government Support
1. Impressive Infrastructure
Dubai has developed an impressive infrastructure since the beginning of the current century: it’s got modern hotels and resorts, exquisite restaurants, world-class shopping, leisurely beaches, and pristine golf courses. It’s a great place to enjoy yourself while conducting business. Dubai is home to some of the best educational institutions in the world; in fact, some of them are now even more prestigious than those in the U.S, including the American University of Sharjah and the Higher Colleges of Technology. Some schools even offer tuition-free education–and free housing!
2. Fastest Growing Regions
The UAE is one of the fastest-growing regions for business; as a result, many multinational corporations have set up shop there. The U.S. Department of Commerce has listed Dubai as the eighth-best global location for American businesses, which attracts many Americans looking for a stable region for their businesses.
3. Easy Business Setup
Opening a company in Dubai is easy and there are many location options to choose from .There are no restrictions on foreign ownership of businesses. You can create your own company to invest in real estate, or open your own retail store, a trading company or an office to manage your finances, etc.
4. Simple Registration Process
Company registration process is simple and straightforward.You just need to fill out an online application form and submit it online. If you have questions or need help, you can discuss them with the government officials or enlist the services of an experienced registered agent. The whole process takes about 5 days and requires only 4 documents to be submitted.
Costs for starting a business in Dubai are low. Company registration fee depends on the size of your company. There are also no annual license fees and no capital transfer taxes on foreign investors. Additionally, there is no withholding tax imposed.
6. More Than 20 Free Zones
Dubai, the largest and most populated city in the United Arab Emirates, has become a hub for business. More than 20 free zones are located in Dubai, which helps companies to achieve many benefits. Free zones have their own laws and regulations and provide companies with full autonomy.
7. No Commercial License Required
A Free Trade Zone license, issued by the Dubai Customs Authority, is required to operate in UAE free zones but is not required in any other part of the emirates. This means that you do not need a commercial license to engage in any business activity within Dubai free zones.
Free zone offices do not require commercial licenses from UAE Central Bank or Ministry of Economy. For most free zone companies, this means that there are no capital requirements or minimum capital investment requirements for starting up an operation in the UAE.
8. An Active and Developing Economy
The economy of Dubai is growing at an impressive rate thanks to tourism, real estate development and trade. In fact, Dubai’s economy has doubled since 1998. During this same time period, foreign direct investment has increased by more than 1,000%.
9. Strategic Geographic Location
Dubai is located in the Middle East and is part of the United Arab Emirates (UAE). The UAE is strategically located between Africa and Asia, making it an excellent place to locate your company due to its central location.
10. Full Repatriation of Capital and Profits
Opening a company in Dubai is also tax friendly because all profits earned by the company will be exempt from capital gains tax and corporate tax. In addition, dividend payments will also not be taxed and 100% of capital can be repatriated back to the home country on an annual basis.
11. Easy Immigration Process
The immigration process is relatively easy and fast for entrepreneurs looking to set up business in Dubai. No conditions attached: As compared to other countries, no permit or visa is required for residency in Dubai. If you want to stay and live only in Dubai, there are also no problems with that.
12. No Currency Restrictions
Dubai is a money-laundering free zone. The country has no currency restrictions, and transactions can be carried out in any major currency. The company can also open an account in any bank without any restrictions.
13. Low Import Duties
In order to promote trade, Government of Dubai have purposefully kept their import duties among the lowest in the world. This means you don’t pay extra fees and taxes just because you’re importing from overseas (or across Dubai). This benefit is huge for big companies that want to build manufacturing plants in Dubai.
14. Ideal Social Conditions
Another benefit of opening a company in Dubai is the ideal social conditions, including a fantastic infrastructure network. The population includes expatriates from all over the world, making it easy to find workers who speak multiple languages and can easily assimilate into your business culture while still retaining their own cultural identity.
15. Exceptional Government Support
The government of Dubai offers exceptional support to foreign investors and companies who want to build their businesses there.
Start your Business in Dubai through Arooj Investment Group
Starting a business in Dubai can be a complex and expensive process. However, Arooj Investment Group offers to help you launch your business in Dubai. They are very flexible when it comes to the setup a company in UAE, whether it is a new company or an existing company that wants to relocate to Dubai. Arooj Investment Group helps you register your company in the Dubai Chamber of Commerce and provides support throughout the entire process of setting up a business in Dubai. You will have full access to our team of professionals who will handle all aspects of your business entity. You can choose from their many services including:
- Business Setup in Dubai
- Global Business Setup
- Corporate Bank Account Opening Assistance
- Accounting and VAT
- Bookkeeping Services
- Financial Services
- PRO Services
We understand that starting a business can be a difficult task and we want your experience to be as easy as possible. If you are looking for an experienced team of professionals who will help you start your business, contact Arooj Investment Group today!