Businesses looking to save on costs often look to the Business Setup In Dubai Freezone because of all the tax breaks offered, but there are other reasons why it’s beneficial to set up in Dubai as well. The fact that you can get your business running in only three days, and then have no capital gains tax and no corporation tax, is just icing on the cake, as far as your finances are concerned. See below for an overview of some of the other perks available from business setup in the Dubai free zone.
Establish A Corporation
Establishing a corporation is one of those big-ticket items you’ll probably have to tackle as part of Business Setup In Dubai Freezone. The good news? It’s a lot easier and cheaper than it used to be. You can walk into any lawyer’s office and tell them you want to start a corporation, they’ll take care of everything, and your basic annual costs will run $500 1,000 maybe less. As with anything else involving bureaucracy, making things simple is key. If you go with an LLC or other smaller entity, you may end up having to file additional paperwork for certain transactions and that starts getting expensive. For that reason along with many others, corporations are often best for startups.
There are two main types of corporations C-corporations and S-corporations. Both offer limited liability, meaning that you aren’t personally liable for anything related to your Business Setup In Dubai Freezone though, obviously, you are still responsible for everything else. Because they have incorporated, C-corps take corporate income tax on top of their regular taxes typically around 15 percent, while S-corps pass-through tax directly to their shareholders. This means an S-corp is generally preferable for a small startup with minimal yearly profits, but those changes as soon as you start bringing in more than $100K annually. For most small businesses especially startups C-corp is just fine.
Setup Office Space
A free zone in Dubai is an ideal place to set up office space. It’s where you will find some of your most dynamic commercial partners and professional co-workers. With a workforce made up of people from more than 160 countries, Business Setup In Dubai Freezone offers ex-pat workers, start-ups, and seasoned entrepreneurs a world of opportunity within one of the Middle East’s most cosmopolitan cities. From being home to dozens of global offices for well-known brands to helping companies discover potential consumers through advertising; to allowing global firms to make use of its free movement provisions, including duty-free import/export or free trade between goods manufactured in Dubai and third countries.
Not only will you be based in one of Dubai’s most business-friendly environments, but you’ll also have access to a range of support services including; financial advice, marketing, and PR assistance, as well as training. And with a range of real estate options available, ranging from serviced offices to fully furnished suites Business Setup In Dubai Freezone office space quickly and easily. What’s more, there is no corporation or income taxes for businesses that locate here! With incentives such as these, why wouldn’t you choose to set up office space? Explore what is available today and join us by setting up office space in one of Dubai’s Free Zones.
Register Property And Vehicles
To do business in Dubai, you’ll need to register your company and apply for various permits. If you are opening a Business Setup In Dubai Freezone, you may also have to set up a legal address in Dubai. Registering your name is easy, though it can take a few days or weeks before you receive your documents. Most registrars offer instant online registration options that allow you to use companies they list as registry service providers RSPs at reduced fees some services cost as little as. Some services ask for multiple images of your passport and UAE residence visa to ensure authenticity; most also require documentation from a licensed auditor or accountant regarding ownership structure and financial standing.
Once you’ve registered your business, you’ll have to apply for a trade license. Companies that supply various goods and services notably banks, supermarkets, airlines, and travel agencies must have both commercial registrations to establish Business Setup In Dubai Freezone with a legal presence and a trade license. This process involves submitting all of your documents to the Dubai Department of Economic Development DED for review; licenses typically arrive within 15 business days.