Every businessperson envisions an idea of establishing a business in Dubai. Due to the excellent economic climate, investors from all over the world rush to the region. Furthermore, the prosperous city provides a slew of incentives for starting a new business. Zero taxation, full ownership, a strategic global location, cutting-edge infrastructure, a diverse economy, and long-term visas are just a few of them. As a result, the number of business owners flocking to the emirate each year increases significantly.
Establishing a start-up or firm, on the other hand, is a challenging process that requires much planning. Furthermore, studying a foreign country's norms and legislation, as well as comprehending every element that is necessary for business setup, takes time.
If you are looking for a service provider that can help with your business setup in Dubai but are having difficulties, Freezoner provides the perfect option for you. Continue reading the step-by-step guide for more details.
The key steps for setting up business are as follows:
Step 1: Filling out the application form and sending the required documents to apply for a visa.
Step 2: Choosing the type of business you wish to start
Step 3: Choosing the right location depending on commercial activity, whether setting up an offshore company, free zone company, or mainland company.
Step 4: Naming your company, keeping in mind it should adhere to all regulatory regulations which include:
Step 5: Finding a local sponsor for foreign investors in order to establish a mainland business setup in Dubai.
Step 6: Getting approval from the Department of Economic Development (DED) by submitting an application and supporting documents
Step 7: Drafting a Memorandum of Association (MoA) that represents the company’s charter and governs external business activities.
Step 8: After successful submission of the application and documents, an individual will receive a payment voucher, valid for 30 days. During these 30 days, pay the license fees to obtain it.
Step 9: Opening of corporate bank account in UAE.
Step 10: Registering for TRN number and business by visiting Dubai Chance of Commerce and Industry.
The following documents are required for a company formation in Dubai:
There are four different types of trade licenses accessible to foreigners for company setup in the UAE, as listed below:
DED issues a commercial license to those who own businesses or firms that trade and engage in more than ten business activities. This license allows foreign business owners to possess only 40% of their company on the mainland and carries the suffix LLC. The license offers many advantages such as 0% corporate and income tax, cheap VAT, UAE visas for the employer, employee, and dependents, and local and worldwide trading.
This license is required for business that produce or manufacture goods in an industrial setting. A physical premise or a warehouse in UAE is necessary to obtaining industrial license.
DED grant professional licenses to those who have a certain area of expertise and educational background. Ex-pats have 100 percent ownership of the license, which is based on the professional’s ability.
The license is given by the Department of Tourism and Commercial Marketing (DTCM) to international investors who want to start a tour and travel business. Further, it is categorized in the following 3 categories:
Freezoner helps businesses succeed in a city, considered aa a commercial hub by providing detailed information and guidance. We strive to offer full support throughout the business setup process, solving every concern and ensuring simple, painless, and transparent process. All you have to do is send us the required documents and information about the type of business you want to start. The rest will be taken care of by our certified personnel, who will handle everything from your license and visa applications to contacting all relevant authorities and departments. Get in touch with us today and be ready to own and operate a business in the mighty city.
Opening a personal bank account in Dubai can be a complex task, especially if you're unfamiliar with the local banking procedures. But don't worry, we're here to assist you through every stage of the process. Dubai's banking sector is robust, offering a wide range of options tailored to meet the diverse needs of its residents. […]
The United Arab Emirates (UAE) is a place where opportunities rise every minute. This dynamic nation has transformed itself into a global hub of innovation, commerce, and cultural diversity, offering a wealth of possibilities for individuals seeking to advance their careers, especially those related to the healthcare sector, like nursing. The UAE's healthcare sector is […]
Considering launching a small business in the United Arab Emirates (UAE)? This booming economy offers a wealth of opportunities! But where to start? You're in the right place! Starting a small business here can be exciting and rewarding. Let's dive into some great small business ideas in the UAE all with the potential to generate […]
Thinking about starting a company in Dubai Internet City? You’re in the right place! Dubai Internet City (DIC) is one of the best spots for tech businesses. This blog will walk you through the steps and benefits of a company setup in Dubai Internet City Dubai internet city which is a thriving free zone. Why […]
The UAE Blue Visa is a new type of long-term visa introduced by the UAE government. It’s designed to attract individuals who have made significant contributions to environmental protection both inside and outside the country. If you're an investor looking to make a positive impact and benefit from the UAE's booming economy, this visa could […]
Have you ever dreamt of studying abroad in a dynamic, forward-thinking nation brimming with cultural richness and exceptional academic opportunities? Then look no further than the United Arab Emirates (UAE)! In this article you will learn how to apply for a golden visa UAE for students and how to stay longer and enjoy more benefits, […]
If you’re an investor and you’re looking for the best place to start a small business, well we have the perfect location! Open your small business in Dubai! Yes you heard it right Dubai is full of opportunities and we at freezoner will help you step by step in the process, with some simple steps. […]
The UAE government and the Ministry of Finance launched a new corporate tax update. The new updates come as a review by the Federal Tax Authority on businesses' net profit. The UAE government seeks to achieve strategic economic goals by creating a fast-paced transformation in the legislative regulations. The corporate tax update was effective in […]
Still hesitant about acquiring the Golden Visa or facing some obstacles? Here are some new updates on the property Golden Visa that will urge you to make the right decision. The UAE government has launched new updates regarding the property Golden Visa to encourage more investors to apply for the Dubai Golden Visa. […]
In this ultimate guide, we will shed light on how to open a company in Saudi Arabia and answer why you should choose Saudi Arabia in the first place. Admittedly, Saudi Arabia is one of the supportive environments in terms of economic growth. Lately, the Saudi stewardship is launching several economic initiatives. One […]
Have you decided to expand your company? Great, that’s the step you will never regret, especially when incorporating business in Dubai. The United Arab Emirates is a country of opportunities as it attracts ambitious investors and top-notch professionals to start their success stories there. Yet, taking the step of incorporating business in Dubai can […]
Every business needs a boost to scale and expand. If you wish to grow your company's operations, getting a business loan in Dubai can be the boost you’re searching for. In this article, we will pinpoint all that you need to know about business loans in Dubai and how to get a business […]
