The UAE (United Arab Emirates) has been a favorite destination for starting or developing businesses for decades now. The majority of investors find its economic stability, continual growth, larger markets, investor-friendly techniques, and tax-free regime too desirable to pass up. The UAE government has created a powerful business environment with low taxes and minimum red tape. The UAE is one of the most extraordinary countries in the region for foreign investors, particularly since the government passed a law to execute 100% foreign ownership of companies.
To do business in the UAE you can decide to either register your company in one of the 20+ Free Zones or you can register in one of the 7 Emirates.
Here are the main benefits of setting up your business in mainland Dubai:
Dubai is in a strategic geographic Location
Dubai is situated in the Middle East and is part of the United Arab Emirates. The UAE is strategically situated between Africa and Asia, making it an ideal place to locate your company due to its fundamental location.
Outstanding Infrastructure
Dubai has created a remarkable infrastructure since the beginning of the existing century. It has modern hotels and resorts, exquisite restaurants, world-class shopping, and pristine golf courses. It’s an incredible place to enjoy yourself while performing business. Dubai is home to some of the greatest educational institutions on the planet, in fact, some of them are now even more prestigious than those in the U.S.
Quickly Growing Regions
The UAE is one of the fastest-developing regions for business, so as a result, many international corporations have set up shops there. The U.S. Department of Commerce has ranked Dubai as the eighth-best multinational location for American businesses, which attracts more entrepreneurs looking for a stable region for their businesses.
Opening a company in Dubai is friendly and easy
Starting a company in Dubai is simple and there are many location preferences to choose from and there are no limitations on foreign ownership of businesses. You can establish your own company to invest in real estate, or open your own retail store, a trading corporation, or an office to manage your finances.
Simple Registration Process
The company registration process is easy and straightforward. You simply need to fill out an online application form and submit it online. If you have queries or needed help, you can consult with government officials or enlist the services of an experienced registered agent. The entire process takes about 5 days and needs only 4 documents to be submitted.
Recruit Expatriate Employees
Dubai is recognized for being one of the most prominent business centers globally. Investors from all over the world want to do business in Dubai and earn numerous profits. It has also successfully extended away from the oil business to extra industries like tourism, logistics, hospitality, etc. These business areas cover 60% of Dubai’s GDP. Additionally, these sectors give a good number of employment alternatives, allowing private companies to recruit expatriate employees.
Cost-Effective
Costs for launching a business in Dubai are low. Company registration expense depends on the size of your company. There are also no yearly license fees and no capital transfer taxes on foreign investors. In addition, there is no withholding tax imposed.
20+ Free Zones
Dubai, the biggest and most populated city in the UAE, has become a center for business. More than 20 free zones are situated in Dubai, which helps companies gain many benefits. Free zones have their own laws and regulations and provide companies with full independence.
No Commercial License is Required for operating
A Free Trade Zone license, granted by the Dubai Customs Authority, is needed to operate in UAE free zones but is not obliged in any other part of the emirates. This means that you don’t need a commercial license to start any business activity within Dubai free zones.
Active and Developing Economy
The economy of Dubai is evolving at a remarkable rate, gratitude to tourism, real estate development, and trade. As a matter of fact, Dubai’s economy has doubled since 1998. During this same time period, FDI (foreign direct investment) has increased by over 1,000%.
Complete Repatriation of Capital and Profits
Opening a company in Dubai is also tax-friendly because all profits gained by the company will be free from capital gains tax and corporate tax. Additionally, revenue payments will also not be taxed and 100% of capital can be repatriated back to the home country on a yearly basis.
Simple Immigration Process
The immigration process is reasonably simple and quick for entrepreneurs looking to set up businesses in Dubai. In contrast to other countries, no license or visa is required for residency in Dubai. Also, if you want to stay and live only in Dubai, there are no problems with that.
Technological Advancements
Dubai is one of the Emirates with the most developed digital facilities. It is en route to a technologically powered future and becoming the world’s digital center. The city has taken so many tech initiatives when it comes to reducing traffic, transforming healthcare services, providing world-class internet services, eCommerce, etc. and all this promotes and boosts opportunities to conduct business online in the country.
No Restrictions on Currency
Dubai is a money-laundering free zone. The country has no currency limitations, and transactions can be done in any primary currency. The company can also open an account in any bank without any limitations.
Ideal Social Conditions
Another advantage of opening a company in Dubai is the excellent social conditions, including an extraordinary infrastructure network. The population includes expatriates from all over the planet, making it easy to find workers who speak numerous languages and can easily grasp your business culture while still maintaining their own cultural identity.
Exceptional Government Support
The government of Dubai gives outstanding support to foreign investors and companies who wish to build their businesses there.
Easy Visa Obtaining Process
If you are starting a business in Dubai, you can effortlessly get employment and a residential visa. Immediately you have your visa, you can rent or lease a property, travel from one country to the other, or purchase vehicles.
Business Setup in Dubai
Dubai, with its various culture, incredible shopping malls and beaches, and tax-free living is an incredible place for expats. It is also a suitable place for businesses to open up offices due to its strategic location between Europe and Asia. To open up your own office in Dubai, you have to register with the Ministry of Economy and Commerce. And after submitting all the essential documents, they will grant you a Trade License and Business Registration Certificate, which will enable you to start operating.
Here are the easy steps on how to set up a company in Dubai:
- select what business you want to be in
- select the type of company you want to open
- open the bank account
- select the legal representative
- get the trade license
Starting a business in Dubai can be a complex process, to save yourself some stress and to simplify the process further, let’s go ahead together and contact your Damalion expert now. We will help you register your Dubai into a free zone such as Dubai IFZA (International Free Zone Authority) with a business bank account.
