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 an ideal place for businesses looking to expand their operations or tap 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 different nationalities living and working in the city. This multicultural workforce makes it easier for businesses to communicate and do business with clients and partners from different parts of the world.

Business Diaries can help you set up your company in Dubai, including selecting the right 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, including commercial licenses, professional licenses, and industrial licenses.

Business Diaries can help you select the right location for your business, whether it’s in a free zone or in mainland Dubai. They can also help you find the right office space or commercial property.

Overall, doing business in Dubai offers many benefits, including a strategic location, tax-free environment, world-class infrastructure, government support, 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 of the general requirements for setting up a business in Dubai:

Legal structure

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

Business activity

You will need to choose the type of business activity that you want to engage in, and ensure that it is in line with the Dubai government’s regulations.

Trade name

You will need to choose a trade name for your business and ensure that it is available for registration.

Office Space

You will need to have a physical address in Dubai for your business, either through renting or purchasing office space.Business Diaries can help you in finding suitable office spaces, providing administrative support, and setting up your business operations.

Business License, Visa and work permits 

You will need to obtain visa and work permits for you and your employees to live and work in Dubai and the necessary business license from the relevant government authority, depending on the type of business activity.

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 business objectives, ownership structure, and share capital of the company.
  • 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 of the general requirements include obtaining a trade license, registering the business with the Department of Economic Development (DED), and obtaining visas for employees.

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 legal form of the company. 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?

The labor laws in Dubai cover areas such as employment contracts, working hours, leave entitlements, end of service benefits, and health and safety. Employers are required to provide their employees with a contract. Also pay them in accordance with the law, and provide a safe working environment.