Want to join the international hub of businesses in the golden land of Dubai? The region of diversified economies and a business-friendly environment is the ideal place for international companies. New business set up in Dubai is the right decision to leverage your business at the only place that offers your business all the opportunities to flourish.
New Business Set up in Dubai: Choose your Business Type
The international gateway of Asia, Africa, and the Middle East has global connectivity through its water and air transportation. With the widely opened arms, Dubai is embracing all the cultures from human existence. Thus, it is forming the consummate atmosphere for new business set up in Dubai in 3 major types:
Offshore Business Set up in Dubai
Among the diversified business setups in Dubai, the Offshore startups have their distinct recognition. So, when you plan to open an Offshore business in UAE, you get 100% legal support. In addition to this, the offshore company setup in Dubai comes with incredible tax efficiency and cost-effectiveness.
Termed as a non-resident paper company, the setup helps entrepreneurs operate the businesses focusing in Africa and the Middle East besides joining offshore bank accounts. Hence, it also sheds the worries of Administrative obligations for companies.
Types of Offshore Business Set up in Dubai
Two major tax-free jurisdictions with entire ownership facilitate the offshore companies set up in Dubai:
- Jebel Ali FreeZone (JAFZA) is the fastest growing free zone to allow independent regulations and bank selection.
- Ras Al Khaimah (RAK), as the part subsidiary of RAKIA, allows companies to set up business in Dubai at a low cost.
Why Set up Offshore Company in Dubai
Your decision to start your offshore company in Dubai gains you the following advantages:
- No corporate tax or custom duty
- Zero obligation of annual taxes
- No registration required within the public domains against the name of shareholders or directors
- 100% foreign ownership
- Multi-currency transaction along with 100% repatriation of funds
How to Set up Offshore Company in Dubai
Apart from the name, setting up the offshore business is a breeze. You can start your offshore business in a couple of weeks. So, here is how to do it:
- Nominate your business set up helping experts or company.
- Select your business-oriented unique trade name with no use of the words like insurance, banking or insurance, etc.
- Submit your application for approval to the concerned authorities.
- Wait for the approval and, if it’s done, move for the opening of your offshore bank account to make international transactions in favor of your business.
UAE Free Zones Business Set UP
The land of business attraction UAE is inviting businesses to start companies at the premium location on the low taxes. So, the UAE free zones bring you another shot to have your business entity in the free trade zones at the least taxes with the 100% foreign company ownership in its 45 free zones. As a result, you can freely operate your trading business in the restricted area allowed by the Dubai government.
These free zones are the house of specific businesses like JAFZA has supremacy for its direct link with the largest port to boost the import and export businesses.
Why Set up Freezone Business in Dubai
Setting up business in UAE Freezone will earn you substantial benefits like:
- An effortless setup process that completes within weeks
- No corporate or personal tax
- Up to 95% Exemption from VAT
- No Import or export taxes
- Full foreign ownership
- Indirect trading options for selling inside Dubai via local distributors
- Valuable support during and after the free zone business setup in Dubai by the free zones authority, including shareholder or family visa processes, business consultation,and networking, etc.
- Full privacy protection through non-disclosure of company or shareholder information in public offices
How to Set up New Business in Dubai Freezones
To set up business in free zones, you will need to follow the simple procedure:
- Pick your local business set up services specialist.
- Select the type/types of your business activity under your business license to know your business’s suitable free zone besides assessing the application costs.
- Decide on your company names taking care of no words hinting at religious references or organizations.
- Submit your application.
- Open the bank account in your right bank once the application is approved.
Mainland Business Set up in Dubai
The most loveable destination of the big business venture in Dubai is the Mainland set up. Under the UAE National sponsorship, you can start your company in Mainland, registered abiding by the specific Emirate government after attaining the business license.
UAE’s DED (Department of Economic Development) sectors of Business Registration and Licensing activates these licenses for the Mainland Businesses:
- Trading activity-oriented commercial licenses
- Professional and services are focusing on Professional Licenses.
- Industrial licenses for Manufacturing or industrial body establishment
Why Set up Mainland Business in Dubai
Being the rewarding type of business set up in Dubai, the Mainland empowers your business with the following blessings.
- You can freely do your business in UAE, with no care of areas.
- Expand your business in UAE, dealing with all the UAE clients and consumers by setting up your offices across the UAE.
- Freedom from taxes
- No limitations for the legal document processing
- No annual audits
- Relaxation of getting the employee’s visa to hire the best staff
- No Minimum capital requirements
How to Set up Mainland Business in UAE
By fulfilling the Mainland business standards, like the location within the commercial zones and others, you can head towards your new business set up in Dubai.
- Hire a local business set up specializing company.
- Get your business’s name approval from DED.
- Apply for your business license at DED.
- Select the most suitable and affordable location for your business.
- Draft a Memorandum of Association (MoA) or LAS (Local Services Agent Agreement) with the help of business set up experts.
- Set up your office.
For New Business Set up in Dubai, Right Way is a Must.
Can you simply set up a business in Dubai? No, the self carried procedure can cause pain and delays. Likewise, you can also waste most of your productive time in managing irrelevant stuff. Therefore, you need to take care of the following points:
- Consult and hire a UAE national company that helps you with your company start-up in all areas, legal or physical setup, because a thorough process involves many complexities. Thus, you can also prevent future problems.
- Select the right business setup type.
- Go for the location that is cost-effective and favorable for your business.
- Don’t forget to confirm that you are eligible for a visa and meet all the requirements though all business set up is eligible for a visa.
- Register your company at the free zone after visiting the office location yourself.
- Only draft your plans under efficient expert guidance. Following any published information can abandon you, eventually.
- Select your business license category only when you are sure about its compatibility with your business type.
- Open a bank account when you have made all the calculations about the bank charges.
- Join hands with the local sponsor after having a formal legal agreement.
In the present day, the heaven of trade and professionals, Dubai is the perfect place to land on the revenue-generating opportunity. So, don’t miss your awaiting ideal clients, and move towards your new business set up in Dubai. Get excellent service from the Vigor Business Consultants now.