UAE has more than 40 types of free zones. Therefore, choosing the right one which is advantageous to your business can be done with the consultation of experts. Benefits of starting a business in Dubai being a foreigne.
Dubai is known as a business hub around the world, and it’s easy to see why! The city has a growing economy, there aren’t any taxes, and it offers a world-class infrastructure. But that’s just a few of the many reasons that entrepreneurs look for business setup in Dubai. The list of benefits for business owners is endless! While there are some restrictions in place for foreign investors, it’s still a pretty easy process to get your company up and running. If you are a foreigner looking to start your business in Dubai, we can help! Keep reading for more on what to expect and find out how MSZ Consultancy can help simplify the process.
We at MSZ Consultancy provide flexible setup solutions with end-to-end support to help your business grow in Dubai. We have custom packages for entrepreneurs, start-ups/SMEs, new businesses, and medium and large companies, helping them to save on business formation costs.
It is not easy for a foreigner to start a business especially if it’s a whole new country. There is a lot of planning and preparations involved to set up your business. The first step is to have a business plan which includes all the basic structural format for your company.
The next step for starting a business in Dubai being a foreigner is to obtain a visa by consulting the local embassy.
In order to set up your company in Dubai obtain the necessary license from the Department of Economic Development(DED).
There are 3 types of business license:
The government in the UAE offers several incentives for business owners to setup their company in Dubai. One of the big benefits is that business formation is easy and quick. And if you’re unsure about doing the process on your own, there’s a wide variety of business setup services in Dubai that are offered, including the expert services from MSZ Consultancy.
Before you start setting up your business, you’ll want to apply for a Dubai visa. This will allow you to enter the country multiple times.
You’ll have to go through the Immigration Department and present them with:
When it comes to business formation, here are the steps you need to take:
You will need to decide on what your business type will be. This will determine what type of business license you will require.
The company name must reflect the nature of the business.
If you choose business setup in Dubai mainland, then you will need to find a local sponsor. The sponsor will hold the majority of interest in your company. You can skip this step if you plan on setting up your company in a Free Zone.
Send in your application and supporting documents to get initial approval.
The Memorandum of Association (MOA) is a document that governs the external activities of the company. This will have to be notarized in a Dubai court.
After you have submitted all your documents you will get a payment voucher. You must pay for your license within 30 days of receiving the payment voucher.
Register your business at the Dubai Chamber of Commerce and Industry.
Keep in mind; there may be additional steps that are needed depending on your business activity.
Dubai has become a global trading hub with so many business opportunities. Here are a handful of reasons why foreign entrepreneurs should take part in this booming economy:
Do you live outside of the UAE? Don’t let that scare you from starting your own business. You can be a successful foreign business owner with the help of an expert business setup company in Dubai like us! At MSZ Consultancy, we make business formation easy. That’s because we are experts in company formation in Dubai and are familiar with the process that you have to go through to create a company in this booming city. Don’t wait! Contact us today for a FREE consultation on how to start your dream business. You can chat with us online or give us a call at +971 52 544 1248.
We help with all aspects of business setup in UAE. We specialize in all forms of company formation, from trade licenses to finding a local sponsor; we can do it all! And after your company is formed, we are here to provide financial and legal suggestions that you need to keep your company flourishing.
We have a unique team of business setup consultants, lawyers, and PRO executives. So, we don’t just help with the company setup; we can also provide business advice, help with legal paperwork, help you set up your bank account, and anything else that your business may need. Simply put – we do everything we can to make your business life easier!
With MSZ Consultancy, you won’t find a business setup company in Dubai that provides better customer service. We offer innovative services that are tailored to fit your exact needs. We are also one of the few consulting companies in Dubai that provides valuable insights to customers to help them with a successful business journey.
Setting up a business in the UAE gives you the benefit of owning your business 100%
Starting a business in Dubai has the benefit of being surrounded by free zones where the company setup is easy and every free zone has its own benefits.
There is no paid-up share capital required for starting a business in Dubai
In Dubai, be it any type of company it enjoys the preference of tax-free haven, which is one of the major reasons for a foreigner to start a business in the UAE
Dubai’s location is advantageous for its located between Asia, China, and Africa all of which are major business hubs.
Dubai’s infrastructure is first class. Its innovations, road networks, telecommunications are best which attracts foreigners all over the world
Foreign startups are fond of Dubai due to its liberal labor laws. As a result, human resource availability is also very efficient.
There are several different types of licenses that are available for business in Dubai. Commercial, industrial, and professional business licenses are the most common. The type of license you need will depend on the type of business activity you plan on doing. Here’s an example of some business activities that fall under these licenses:
Dubai is known for its low cost of doing business. While the price can vary, the standard range for a trade license is AED 15,000 to AED 25,000. One thing that can play a big role in causing the price of your business setup to go up is the location of your company. It is more expensive to setup company on the mainland compared to the free zone. Your office space can also play a huge factor in the cost, especially if you opt for a co-working space rather than rent an entire office.
There are several things to take into consideration when choosing your business name: