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Benefits associated with free zone company formation are listed below.
To start your own business in UAE, you should have a thorough knowledge of the initial cost of business setup and market trends in the UAE. Setting up a business in a free zone can be a bit different from that of the mainland. Here are the few steps that you should take to start a successful business in UAE.
These are some general steps that every business owner has to take to start a business in UAE. However, certain activities may differ depending upon the area in which you want to set up the business.
You are mainly required to have the documents of your parent company, or holding company attested by the Ministry of Foreign Affairs, in order to kickstart your branch setup process. After that, it’s important you reserve a trade name, get approval from the Ministry of Economy and the Department of Economic Development (DED). Once that’s done, you need to lease an office space, and you can start your operations in the country.
On paper, it is required for you to have an office address in order to have a business license issued for your business. However, you don’t necessarily require an office space to apply for a business license. Depending on your business activity, if you don’t require an office to carry out your day-to-day activities, you can obtain a virtual office license that will serve as an address you can use on your business license, which can also be the space in which you can have business meetings, if required, and can use it as a mailing address too.
There are different prices for different Free-Zones. It also depends on the activity and amount of visa’s you require. Additionally, there are costs such as Trade License, Establishment Card, Visa, Office Expense, etc.
You can expect to pay +AED 25.000 all inclusive for a simple business setup in Dubai and company formation in UAE.
To open a corporate bank account for your business, you are required to have an multiple documents, incl personal bank statement, residency in UAE, visa, etc. For a personal bank account, a residence visa/employment visa is required.
Yes, investing in Dubai can be one of the best decisions of your life. Dubai is the world’s fastest-growing market and has one of the most stable economies in the world. It’s a tax-free city which makes it exceptionally attractive for everyone. Many people from all over the world come, work and invest in the property sector in Dubai. Because of free zones, foreign investors keen to invest in Dubai can take benefits from the amazing infrastructure. It has many tourist attractions like beaches, five-star hotels, shopping malls.
The high standard of living, tax-free income, great weather conditions, world-class infrastructure, free zones to attract investors, strict policies against crimes, regulated market, mature and stable property market make it a great option to invest.
The MENA region is among the most transparent real estate market. The government is striving to improve transparency to increase the level of foreign investment. The Open Data Law makes an effort to promote the non-sensitive data between non-government and government bodies to ensure that the investors can make an informed decision.
We’ve helped hundred of companies launch and grow in the United Arab Emirates. Their stories continue to inspire us and push us to help the startup industry even more.