While it is designed to be a straightforward process, there is a little admin to take care of when setting up in Dubai, particularly if you are a non-resident. For this reason, it’s best to work with a local expert such as BIZ at this stage. We can make sure all your documents are accurate and in order before embarking on your application. This is usually the most straightforward and cost-effective way to start a business as a foreigner or non-resident in the UAE. However, as a non-resident, you may need to work with a local sponsor in order to trade, as detailed above. Dubai is one of the most welcoming environments on earth for foreign investors.
Do I need a local sponsor to start a business in Dubai?
Their dedication to delivering exceptional services, coupled with a deep understanding of local business dynamics, makes them an invaluable asset in unlocking the golden opportunities Dubai has to offer. Stay informed, stay compliant, and let the spirit of Dubai propel your business to new heights of success.
Read more about company formation in Dubai here. Of course, just like any business decision, there are potential pitfalls along the way. Sharjah Media City Free Zone, widely known as Shams is famous for being a cutting-edge destination for media companies. This free zone’s office spaces are designed to support entrepreneurs, especially in IT and media among other business undertakings. With support at every step, we are committed to guide, nurture and grow your business, using Dubai CommerCity’s already established channels rooted deep within the e-commerce and logistics market.
Additional fees to consider
Once the Department of Economic Development obtains approval from the trade license and commercial registration department, they will proceed to issue the general trading license for your business. Simply put, submitting the required original documents and obtaining approval from the relevant department will enable you to obtain your general trading license. If you are setting up a clothes shop or a content management consultancy, on the other hand, there are no major additional approvals you would need for the licence registration. Setting up a foreign company in Dubai offers benefits like tax advantages, access to global markets, a strategic location, and a business-friendly environment. The specific requirements may vary depending on the nature of the business activity. It is advisable to consult with a qualified business setup consultant like Adam Global to get assistance with the registration process.
Is Dubai a good place to start a business?
There are also certain standards that the name must adhere to, including avoiding any blasphemous language or references to religious or political organisations. Dubai has some particular requirements about what activities are permitted under what licence. So, the best advice is to work with a company formation specialist at this stage to ensure a smooth process. The type of licence you apply for will also depend on the activities you wish to carry out – such as professional services, e commerce, commercial, trading, etc. Tax benefits which include zero corporation and personal tax, 100% company ownership, 100% repatriation of capital and profits, no currency restrictions, and 100% import and export tax exemption. Decide on the legal structure of your business, whether it’s a sole proprietorship, partnership, limited liability company , or a branch of a foreign company.
Company formation in Dubai free zone costs, for example, are often much lower than when setting up in the mainland. Equally, if you opt to use a co-working space rather than a permanent office, your setup costs will likely be lower. There are several trade license types in Dubai, with the most common being commercial, industrial, and professional. The local population is over 80% expatriate, with many of those owning their own businesses. While it does not have to be complicated, starting a business out here does require some local, expert knowledge, so read on to find out how to start a business in Dubai as a foreigner.
If your business involves activities related to construction, real estate, health, and other public health and safety matters, you may need to obtain approvals from the Dubai Municipality. Clearly define your business activity and select a unique trade name that complies with the guidelines set by the Department of Economic Development . Before plunging into the business setup, conduct thorough market research and a feasibility study to assess the demand for your product or service and understand the competitive landscape. A Representative Office allows companies to conduct market research and promote their products without engaging in commercial activities. It provides a cost-effective means of exploring Dubai’s market potential.
Company formation in Dubai costs vary depending on where you choose to set up, whether you take on premises, how many employees you have – and much more. Another reason behind Dubai’s popularity with entrepreneurs the world over is the relatively low cost of doing business. This, along with the introduction of long-term visas, has further cemented Dubai’s reputation as the perfect location for overseas entrepreneurs. As veteran consultants, we assist with planning, itemising and budgeting the total cost of your business set up in Dubai.