Dubai is a country that has one of the most welcoming types of environments for foreign investors. Recently, the emirate has even made it simpler for entrepreneurs from across the globe to pursue business in the UAE. A company formation in Dubai has become so much easier now as a foreigner. Businesspeople are able to take advantage of the country’s 0% tax rate present on corporate as well as personal income. They will also get 100% business ownership in many cases. There have also been some other changes that have made it easier for foreigners to do business in the country. For instance, they can get a long-term visa that lets them reside in the country for extended periods and even potentially rehire when their career is ending.
If you are wondering about starting a business in Dubai as a foreigner or non-resident, read on to find out more:
Select business activities
The kind of business activities that you wish to carry out will influence the best setup along with the license type for the business. For instance if the business activities are in the category of industrial or manufacturing, you will need to get an industrial license.
Those who wish to be in the commercial sector which includes buying and selling goods, will need to get a commercial license. When you know which activities you want to take part in, you can then get a business license in Dubai accordingly.
Choose free zone or mainland
When setting up a business in Dubai, you need to choose which location you want for the business. This can be a free zone or even the mainland. This depends on the person’s individual circumstances and the type of business that they want to start.
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If you want to have a Dubai-free zone company, this is rather reasonable as well as favorable for new businesses. You should know about the most prominent free zones in Dubai. These are Jebel Ali Free Zone (JAFZA), Dubai Airport Free Zone (DAFZA), and Dubai Healthcare City (DHC), amongst others.
The rules as well as regulations for businesses plus the timeline for business setup formalities may vary amongst the free zones. This is because they are governed by their very own authorities. You should find out the Dubai free zone license cost as well.
Those who want to have a Dubai mainland company will let them trade in the local markets and also trade internationally. Here the process of company formation tends to be quite systematic. You may be able to get your business license in a day.
Select a company name
A new business setup in Dubai will need a company name. The procedure of naming the company here is slightly different than in the rest of the world. Essentially, you need to follow a strict set of naming conventions.
It is vital to avoid offensive and blasphemous language. When doing business in Dubai, you need to avoid naming your company as one of the names of well-known organizations. Stay away from abbreviations when naming the company after yourself.
When setting up a company in Dubai, you will need to have some licenses with you. These will be the following:
- A filled in the application form
- If necessary you need to have articles of incorporation
- The passport copies of all the shareholders
- A brief description of the intended business activities
Business formation in Dubai as a foreigner can be easy when you know what to do. You can get the help of a business consultant in Dubai.
Medialinks is a digital marketing agency in Dubai that can help foreigners and locals with their digital business needs. They have experienced professionals who help do this. These people have helped different businesses and general trading companies in Dubai. To reach us out please connect with us at [email protected].