One of the world’s most hospitable cities for international investment is Dubai. In recent years, the emirate has made it simpler than ever for businesspeople to do business in the UAE.
Foreign entrepreneurs are now free to maintain 100% ownership of their businesses in the majority of circumstances, in addition to benefiting from the UAE’s 0% corporate and personal income tax rate. Other recent developments include the long-term visa, which enables visitors to stay in the UAE for a protracted period of time and maybe retire here at the end of their careers.
Refer to Dubai company registration for more information.
TYPES OF BUSINESS LICENSES IN DUBAI
Freezone license
A free zone license is the best option for new business owners or entrepreneurs. In general, this license type is the most affordable and straightforward way for a non-resident to establish a business in Dubai. Working in a free zone gives 0% corporate tax, no currency restrictions, and a 100% exemption from customs taxes.
Mainland license
Over any other location, the mainland of Dubai is preferred by foreign investors for company formation. This is due to the fact that entrepreneurs can conduct business anywhere in the UAE. For a local Dubai mainland business license, no capital is necessary. But in order to run the business effectively as a non-native, the applicant might need to work with a local agent.
HOW TO REGISTER A BUSINESS IN DUBAI AS A FOREIGNER?
Choosing business activities
One of the most important decisions the applicant must make before beginning a business in Dubai as a foreigner is the type of company they want to create. The selected business activities will determine the business structure. They can start a sole proprietorship, which enables the applicant to be the sole owner of the business. Additionally, they can establish a limited liability business, the most typical form of business organization in Dubai, that enables them to establish a separate legal structure.
Choosing a trade name
The reservation of a trade name is a requirement for the registration of a company. It must accurately represent the kind of business the applicant is conducting. Relin Consultants will assist the applicant in finding a name that has not previously been used, does not offend the general public, and is appropriate for business activities.
Selecting the jurisdiction
Relin consultants will provide advice on whether a free zone or the mainland is the ideal place for the applicant’s company. It will depend on their specific situation and the kind of business they want to start. The applicant must consider factors such as Ownership restrictions, proximity to the target market, and business focus.
Applying for the Licence
If the applicant is establishing a business on the mainland, they should submit the application to the appropriate agency, such as the Dubai Department of Economic Development (DED). They can submit an application directly to the managing authority if they are opening up a business in a free zone.
Registering the business
Once the applicant has completed all the aforementioned stages, they may register their business with the relevant jurisdiction and begin conducting operations in the United Arab Emirates. After registration, the company only becomes a legal entity in Dubai.
Relin Consultants will help in preparing all the required documents listed below:
- A completely filled-out application form
- Articles of incorporation
- Detailed description of proposed company operations
- Passport copies for all shareholders
Getting a business visa
A business visa makes it easier to travel within and outside of the country for business. Additionally, it enables three senior corporate staff members to petition for residency. An extended visa is available to those who want to start a business in Dubai as an expat for both themselves and their dependents. Relin Consultants will help the applicant to obtain a visa by getting in touch with the regional embassy. Anyone who wants to move to the UAE in order to start a business is qualified to apply for a business visa.
Reach out to us at Relin Consultants – Leading Global Business Set Up Partners for further assistance with our company incorporation services in Dubai.
