That’s why your first task should be to seek out a company setup agent who can guide you through each step, offering advice and support along the way. If you are already specialised in a certain field, choosing a business activity will pose no problem. However, for broader business categories like ‘retail’ or ‘trade’ there are multiple options, distinct sectors, and several specialised activities. As an integral part of setting up new business in Dubai, you must choose an activity or multiple activities to apply for a licence. Very few business activities have restrictions, and a handful are prohibited.
Can a non-resident start a business in Dubai?
There are two common types of business licenses available to foreigners starting up in Dubai. This license allows you to open a business anywhere in the mainland UAE. Yes, one of the significant advantages of doing business in Dubai is that there are no personal or corporate income taxes. This tax-friendly environment makes Dubai an attractive destination for entrepreneurs and investors. Offshore companies are ideal for international business and asset protection. They offer confidentiality, tax benefits, and no requirement for physical presence.
With these corporate documents, you can open a corporate bank account and commence your business operations. Additionally, you’ll receive your UAE residency visa issued by the free zone where your company is located.
As a foreign entrepreneur starting out in the UAE, your first task should be to familiarise yourself with local business customs and practices. There are several setups to the company formation process out here that will be unfamiliar to many. Gaining an early understanding of these steps will help make for a smooth process. If you still have any doubts or uncertainties about establishing your general trading business, consider partnering with a trusted business setup consultancy like Company Setup Consultants. Our experienced consultants specialize in business setup in Dubai and can provide the guidance and expertise you need to ensure a smooth and successful setup process. Work with a company setup agent to complete the application form and provide necessary documents such as articles of incorporation and passport copies for shareholders. The general trading license can be obtained online in just 30 minutes.
The types of businesses that fit into each license category are self-explanatory and will be determined by your business activity. If you are undertaking a commercial activity – such as buying and selling products or services – then in most cases, you’ll need a commercial license, for example. Our experts will assist you in identifying the most suitable business activity for your venture and ensure compliance with the legal requirements. Read more about business setup in UAE here. With our extensive knowledge of the UAE business landscape, we aim to make the company setup journey in Dubai exciting and hassle-free. These are some questions you need to consider when making your decision.
Steps for Opening an E-Commerce Business in Dubai
It showcased yet again just how stable and attractive Dubai is as an investment destination. • Utility deposit – If you are setting up your own office, you would also need to pay an initial security deposit to the water and electricity authority of the Emirate. You would also need to keep in mind the utility cost every month for your operations. Ultimate Beneficiary Owner Form to be filled in and submitted along with the application form. Cabinet Decision No. of 2020 requires all companies in the United Arab Emirates to declare the Ultimate beneficiary of a business. In simple words, an ultimate beneficial owner is an individual who is the ultimate beneficiary of a company. Submit your signed application form along with the list of all required documents.
Renting an office space in Dubai is a prerequisite to getting your business licence. Each free zone in Dubai offers a variety of desk spaces to fit your business needs, including serviced, smart, and flexi-desks – which will typically cost around AED 15,000 to AED 20,000. Future market trends for Dubai indicate that there will be significant opportunities for investors to invest and run a successful business, especially in imports and exports. As soon as the COVID-19 situation becomes under control, tourism industry in Dubai is going to boom and the city will provide great infrastructure and potential for many businesses across various industries. Selecting the most suitable business structure is the cornerstone of starting a successful venture. Each form of business organization has its merits and demerits, contingent upon your business activity, expansion plans, and long-term vision. However, with evolving laws and policies, understanding the best fit for your needs requires up-to-date information.
Once the registration process is complete, the offshore company will receive the necessary license to operate within the offshore free zone. Submit the application and documents to the registered agent, who will then process the company formation with the free zone authorities. Gather the necessary documents, including passport copies, proof of address, and business plan, as required by the chosen offshore free zone. Upon approval, obtain the business license from the free zone authority and lease office space if needed. File the necessary documents with the DED to complete the company registration and licensing process. 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.