In this article, you will find a detailed guide on how to start a company in Dubai. As you know, Dubai is one of the most popular destinations for businesses looking to expand into new markets, with its geographical location and thriving economy making it an attractive place to set up shop and businesses. The city offers a wide range of opportunities for businesses of all sizes and industries, and with its pro-business environment and low taxes, it’s no wonder more and more companies are choosing to open up in Dubai. Depending upon the type and nature of the business, you must get the necessary approvals and licenses. Below are few of the necessary steps to be access or completed for any type of company setup in Dubai.
Decide the company structure
There are many things to consider when setting up your business, from the company structure to the type of business you want to operate. Here is a guide to help you make the right decisions for your new venture.
One of the first things you need to decide is the company structure. Are you going to be a sole trader, or do you need to set up a limited liability company (LLC)? If you are unsure, speak to an accountant or lawyer who can advise you on the best option for your business.
Once you have chosen the company structure, it’s time to think about what type of business you want to operate. Would you like to sell your products or services to the public? Who is your target audience? These are all important questions that need answering before starting up your business.
Register the company with authorities
Starting a company in Dubai is a straightforward process that only requires a few steps. The next step is to register the company with the Department of Economic Development (DED). The DED website has a wealth of information on starting a business in the UAE and is well worth exploring.
In order to attract businesses to set up operations in Dubai, the government created free trade zones. Companies that operate in free trade zones are exempt from all taxes on profits. This makes it attractive for companies to set up shop in Dubai and take advantage of its strategic location between East and West.
Get a trade license
When you’re looking to open a company in Dubai, there are a few key steps you’ll need to take in order to make the process run as smoothly as possible. One of those steps is getting your trade license. Obtaining a trade license is an important part of doing business in Dubai, as it allows you to conduct commercial activities within the city. There are a few things you’ll need to know before applying for your trade license, so here’s a quick overview of the process.
You will need to have a trade license in order to operate a business in Dubai.
- The process of obtaining a trade license can be lengthy, so start the process as soon as possible.
- There are several types of trade licenses available, so make sure you select the right one for your business.
- You will need to provide certain documents in order to obtain your trade license, including proof of ownership or lease for your business premises, passport copies and company registration documents (if applicable).
- The cost of obtaining a trade license varies depending on the type of business and the location of your premises.
Free Trade Zones in Dubai for starting a business
The benefits of establishing a business in a UAE-free zone are manifold. The majority of free zones in Dubai allow complete foreign ownership as well as complete capital and profit repatriation. You’ll also get a lot of support and networking opportunities, as well as some significant tax advantages including exemption from company tax. A free trade zone is a location created to support foreign enterprise ownership and advance international trade in the United Arab Emirates.
Uncertain of the best UAE-free zone for your needs? Let’s explore a few of them.
Currently, there are 24 free zones in Dubai, each catering to specific sectors and industries;
The free zone areas in Dubai under the DUBAI CREATIVE CLUSTERS AUTHORITY (DCCA) include:
- Dubai Internet City
- Dubai Media City
- Dubai Production City
- Dubai Studio City
- Dubai Outsource City
- Dubai Knowledge Park
- Dubai International Academic City
- Dubai Science Park
- Dubai Design District (d3)
The free zones area in Dubai listed under DUBAI MULTI COMMODITIES CENTRE AUTHORITY (DMCC) include:
- Jumeirah Lakes Towers
These Dubai free-trading zones deal with a range of industries, from manufacturing and universal healthcare to jewelry industry
- Jebel Ali Free Zone Authority (JAFZA)
- Dubai Airport Free Zone Authority (DAFZA)
- Dubai Silicon Oasis Authority
- Dubai Healthcare City Authority
- International Humanitarian City
- Dubai World Trade Centre
- Dubai Maritime City Authority
- Gold and Diamond Park
- Dubai South
- Dubai Outsource City
- Dubai International Financial Centre
- National Industries Park (TechnoPark)
- Dubai CommerCity (DCC Free Zone)
Find office space and set up utilities
Open A Company In Dubai can be an overwhelming task. But with thorough planning and execution, it can be made as easy as possible. The next step is to find the right office space and set up your utilities.
Many people think that Dubai is only for luxury businesses, but that is not the case. There are many areas in Dubai that are perfect for start-ups and small businesses.
Once you have found the right office space, you need to set up your utilities. This includes internet, telephone, and electricity. You can either set this up yourself or hire a company to do it for you.
Opening a business in Dubai is a process that can be accomplished with proper planning and execution. By following the steps outlined in this article, you will be on your way to starting your own company in one of the most dynamic and business-friendly cities in the world.
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