Procedure of forming a company in Dubai
Starting up a business in Dubai is a quick process. Therefore, if you are planning to shift or start your business in this country, the good news is that company formation in Dubai is a relatively simple and speedy process with strong incentives.
Basically, once you have sorted all your legal procedures, company formation in Dubai takes not more than a week.
Basic Steps to set up a business in Dubai
No matter whether you are mainland, offshore or free zone company, Dubai gives you an opportunity to start your business without getting your business registered. However, before you install your money making the idea in Dubai, remember to get the required approvals from the government departments. Here is the list of steps that you should definitely go through before setting up.
Determine your business activity: Since not all business activities are not allowed in Dubai, one should know certain limitations. First of all, decide whether your business fits Dubai's standards or not.
Decide your company name: As per as the standards of DED (Department of Economic Development), choose a proper company name.
Finalize paperwork: Complete all your paperwork for your chosen company name and activity and get your license’s notification too.
Open a bank account: Once you are done with your paperwork, open your corporate bank account.
Process your Visa: At last, apply for your visa and you’re good to go and do business in your chosen UAE free zone.
UAE Business structure
Businesses in Dubai can be divided into three main categories. These categories depend on the location of a business entity and the type of business formed. Every category has its own requirements and advantages. The three major categories include:
- Mainland Business setup: Usually, mainland business requires a local sponsor whose majority of share in the company is made mandatory by the UAE law. He invests 51% shares of the company and on the other hand, the foreign investor owns the rest of the 49% shares of the company.
- Free Zone Business Setups: On the other hand, this free trade business setup has its own benefits where people can own their business 100%. Maximum entrepreneurs opt for this business setup as it offers a very eye-catching opportunity for those who would want to benefit from this setup. Free zone business setup was especially found for purpose of promoting international business activities in the region supported by the world-class infrastructure of Dubai. Also, there are no tax to restrict your business operations and the scope of business.
- Offshore Business Setup: Dubai provides a reliable and trustworthy structure to offshore companies. Since it is economically stable, it offers a whole range of state of the art infrastructural facilities, and strictly adheres to secrecy clause like no other country.
Benefits of doing business in UAE
- Ease of doing business
- Zero perfect tax
- Strategic location
- 100% repatriation of capital and profits
- Booming economy
- World class infrastructure
- 100% foreign ownership
Are you looking to relocate or start a business to Dubai in the United Arab Emirates? If so, PRO Business Setup is the right place for you as they offer numerous company formation options for entrepreneurs like you. Their main aim is to make sure that you choose the correct jurisdiction and license.