Dubai is an attractive destination for foreign entrepreneurs looking to start a business. With its strategic global location, 0% tax rate, and straightforward incorporation process, it's no wonder that many investors and business owners are drawn to the United Arab Emirates. However, there are certain restrictions and requirements that must be met in order to open a business in Dubai. Every company in the United Arab Emirates must have a physical address to operate.
The commercial facilities and location must meet the requirements defined by the Department of Economic Development of the respective emirate, as well as with the territorial planning regulations of local municipalities. To complete the creation of a company in Dubai, a business address must be attached to the business license. Even if you don't need office space, your company must meet this business setup requirement. Dubai actively welcomes foreign investors and business owners. The emirate is home to many business configuration experts and agents, created to help guide foreign entrepreneurs through licensing, visa and company formation processes.
By using these services, you'll also have the peace of mind of knowing that your license and visa requests are free of errors or omissions, which can lead to delays and rejections. While foreign ownership of 100% of companies in the continent is now allowed in many cases, it is generally more prudent for foreign entrepreneurs to start a business in a free zone, where 100% of ownership is guaranteed. The configuration agent you choose can help you at every step, as well as align your company with one of the more than 2000 allowed business activities. In addition to this, the economic recession, living and working in sunnier climates, lower VAT rates, the absence of corporate and personal taxes and the greater ease of doing business in the United Arab Emirates are just some of the main features that attract investors and entrepreneurs for those who want to start or expand their business in Dubai. In some cases, additional approvals are required from government entities that govern certain business activities. An initial approval means that the Government of the United Arab Emirates has no objection to the company being established in the country.
Unfortunately, many new business owners overlook this step and end up having to create their plans in a hurry. Creation Business Consultants has partnered with the largest and most accredited banking institutions in the United Arab Emirates in the region. As a foreign entrepreneur starting out in the United Arab Emirates, your first task should be to familiarize yourself with local customs and business practices. In addition, a business plan is an ongoing work and new companies should periodically review it in accordance with business goals and objectives. The Abu Dhabi Business Center offers investors an instant licensing service to start their businesses online and obtain the business license without having to visit the service center. The types of companies that fall under each license category are self-explanatory and will depend on your business activity.
In addition to a 0% tax rate, a strategic global location and a simple incorporation procedure, Dubai now allows foreigners to own 100% of their businesses in most cases. Starting a business in Dubai can be an exciting opportunity for foreign entrepreneurs. However, it's important to understand all of the restrictions and requirements before beginning your venture. By partnering with an experienced configuration agent or consultant, you can ensure that your license and visa requests are free from errors or omissions which can lead to delays or rejections. Additionally, familiarizing yourself with local customs and practices will help you navigate through any potential obstacles you may encounter along the way.