Business Setup In Dubai

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Business Setup In Dubai

Dubai is one of the most business-friendly cities in the world, with a strategic location, world-class infrastructure, and a supportive government that promotes entrepreneurship and foreign investment. It is strategically located between Europe, Asia, and Africa, making it a gateway to these markets. This strategic location makes it a favorable destination for businesses aiming to expand or venture into new markets.

Dubai has over 20 free zones, each specializing in different industries, offering businesses a tax-free environment, 100% foreign ownership, and easy access to local and international markets. It has a diverse and cosmopolitan population, with people from over 200 nationalities living and working in the city. The diverse workforce simplifies communication and business interactions for companies, enabling them to engage effectively with clients and partners from various global regions.

Business Diaries can help you set up your company in Dubai, including selecting the proper legal structure, preparing legal documents, and registering your company with the Dubai government. We can assist you in obtaining the necessary licenses and permits for your business. Business Diaries can help you select the right location for your business, whether in mainland Dubai or a free zone. We can also help you find the suitable office space or commercial property.

Doing business in Dubai offers many benefits, including a strategic location, a tax-free environment,a multicultural workforce, and a high quality of life. These benefits make Dubai an attractive destination for businesses looking to expand their operations and tap into new markets.

 

Requirements For Business Setup In Dubai

The requirements for setting up a business in Dubai can vary depending on the type of business and its legal structure. Here are some  general requirements for setting up a business in Dubai:

Legal Form

You will need to decide on the legal system of your business, whether it will be a sole proprietorship, partnership, limited liability company (LLC), or branch office of a foreign company.

Business activity

You must choose the type of business activity you want to engage in and ensure that it aligns with the Dubai government’s regulations.

Trade name

You must choose a trade name for your business and ensure it is available for registration.

Office Space

You will need a physical address in Dubai for your business, either renting or purchasing office space. Business Diaries can help you find suitable office spaces, provide administrative support, and set up business operations.

Business License, Visa and work permits 

You will need to obtain a visa, and work permit for you and your employees to live and work in Dubai and the necessary business license from the relevant government authority.

Government Approvals

Depending on the type of business activity, you may need to obtain approvals from other government authorities, such as the Dubai Municipality or the Dubai Chamber of Commerce.

Documents Required

  • Passport copies: Passport copies of all shareholders, directors, and partners.
  • Visa copies: Copies of the UAE visa for all shareholders, directors, and partners.
  • No Objection Certificate (NOC): A NOC from the sponsor (if you are a resident of the UAE).
  • Memorandum of Association (MOA): A MOA outlining the company’s business objectives, ownership structure, and share capital. 
  • Power of Attorney (POA): A POA appointing a local representative or sponsor to act on behalf of the company.
  • Trade Name Certificate: A certificate that verifies that your chosen trade name is available for registration.
  • Bank reference letter: A letter from your bank confirming your account details and financial standing.
  • Office lease agreement: An agreement outlining the details of your office space or commercial property.
  • Business plan: A comprehensive business plan that outlines your business objectives, marketing plan, and financial projections.

Frequently Asked Questions

 

What are the requirements for setting up a business in Dubai?

The requirements for setting up a business in Dubai vary depending on the type of business you want to establish. However, some general requirements include obtaining a trade license, registering the business with the Department of Economic Development (DED), and obtaining employee visas.

What types of business structures are available in Dubai?

The most common types of business structures available in Dubai are

Sole Proprietorship

Limited Liability Company (LLC)

Partnership

Branch of a Foreign Company.

What are the minimum capital requirements for business setup in Dubai?

The minimum capital requirements for business setup in Dubai depend on the company’s legal form. For example, an LLC requires a minimum capital of AED 300,000, while a Branch Office requires no minimum capital.

What are the taxes imposed on businesses in Dubai?

There is no corporate or personal income tax in Dubai. However, there is a Value Added Tax (VAT) of 5% on certain goods and services.

What are the labor laws in Dubai?

Dubai’s labor laws cover employment contracts, working hours, end-of-service benefits, and health and safety. Employers are required to provide their employees with a contract. Also, pay them by the law, and provide a safe working environment.