1. Why should you setup up a company in UAE?
The United Arab Emirates is strategically located at the crossroads of Europe, Africa, and Asia, making it an ideal destination for businesses across various sectors. The UAE boasts a highly structured environment that adheres to global practices, which motivates entrepreneurs to invest in innovative business ideas. Additionally, businesses operating in the UAE enjoy the benefit of tax exemptions and complete capital repatriation with no currency restrictions. This level of financial freedom is rare in a highly developed business environment, making the UAE an attractive market for entrepreneurs from around the world.
2. What types of business can one setup in UAE?
In UAE, you can set up a mainland business, or a business in a free zone or an offshore jurisdiction.
Mainland- You don;t require a local sponsor to start your business.
Free zone- You do not need a local sponsor, but can operate only within a limited geographical region.
Offshore- Allows you to safeguard your wealth and assets, but you cannot trade in UAE and will only get a certificate of incorporation and not a trade license.
3. How much time will it take to set up business in Dubai, UAE?
Company formation in mainland Dubai could take a while if you do not have all the necessary paperwork and documentation approved by different government agencies. With the right consultants to help you, like Perspective Business Setup, you can establish your business in the UAE in just three days.
Business License and registration can be done within three weeks of time, yet again, if the business activity requires certification or attestation for any other judicial body — it can stretch the time.
Company formation in UAE free zones can take anywhere between 3-10 days, whereas an offshore company formation can be established within 48 hours if you have the right resources at hand.
4. What are the different types of company structures I can setup in UAE?
In the United Arab Emirates, there exist several categories of business setups, each with its unique set of terms and conditions. These conditions include the minimum capital investment, incorporation procedures, and the number of shareholders required. The seven categories are as follows:
- civil company
- sole establishment
- subsidiary company
- branch office or Representative office
- General Partnership Company
- Public Shareholding Company
- Private Shareholding Company
- Joint venture Company
- Limited liability Company (LLC)
- Share Partnership Company.
5. What are different types of business activities?
There are three types of following business activities-
- COMMERCIAL ACTIVITIES – Activities that require capital, such as wholesale and retail trade, construction transportation, communication and real estate, and leasing come under commercial activities.
- INDUSTRIAL ACTIVITIES – Activities such as manufacturing, mining, quarrying, electrIcIty gas and water, fall under this category.
- PROFESSIONAL ACTIVITIES – Activities such as consultancy, education, health, social work, social and personal services, fall under these services.
6. What is the cost of setting up a business in UAE?
The cost of setting up a Business in Dubai or any other part of UAE completely depends on the business activity, area of operation, jurisdictional authority as well as entities transacting. To know more, book a consultation with us. Starting cost can be mentioned
7. Whic authority is responsible for company setup in Dubai?
The Department of Economics Development is the concerned governmental authority responsible for all the business level activities in a mainland business setup in Dubai. Every freezone or offshore jurisdiction, has their own dedicated authority monitoring, managing and developing these jurisdictions.
8. How can I start a business in Dubai?
There a few steps first that you need to follow before starting your business in Dubai
8.1) Apply for Trade Name
8.2) Legal Status how many partners / Businesses activity.
8.3) Initial Approval for legal status
8.4) Virtual Office / Manual Office.
8.5) fees are calculated based on the legal type of selected activities.
- Application of Business License.
- Necessary Government forms and approval of government authorities.
- LLC agreement
- Initial approval certificate.
- Name reservation certificate
- Office Lease agreement.
- Certificate of approval with EJARI
9. What documents are required for trade license renewal?
To renew a trade license the following documentation is required:
- Signed application form for renewal
- Signed copy of the terms and conditions
- Signed price list of products/services.
- Signed office lease agreement (if applicable)
- The Shareholder’s updated documents (passport and visa copies)
10. What documents are required for a new visa application?
To apply for a new visa the following documentation is required:
- Signed visa application form.
- Passport copy (holding 7 months’ validity with 3 empty pages).
- Documents to show current visa status.
- Copy of the valid company license.
- Copy of the valid Establishment/Immigration card.
- Signed employment contract.
- Copy of a University degree (if applicable, attested, and translated).
- Passport photographs (white backgrounds, passport sized, and high resolution).