Do you want to start a business in the United Arab Emirates? The answer is usually yes, but there are some conditions that may apply depending on your nationality, tax residence status, and the type of business you plan to set up. You will need to obtain a visa to live and work in the country, and there are two types available: a five-year visa and a 10-year visa. Previously, it was only possible to form a limited liability company with an Emirati shareholder who owned 51% of the shares. However, following new changes in the law, it is now possible for foreigners to start a business in Dubai and the United Arab Emirates without an Emirati sponsor for certain activities.
If you are setting up shop in a free zone such as the Dubai International Financial Center (DIFC), you may have additional requirements. If you are establishing your business on the mainland, you must submit your application to the appropriate body, such as the Dubai Department of Economic Development (DED). The Dubai Economy, along with other government entities in Dubai, has launched the Dubai Virtual Commercial City (VCC) program which allows entrepreneurs and freelancers from all over the world to create a virtual company in the United Arab Emirates without having to live there. Starting businesses in free zones often offers advantages such as lower levels of regulation and more affordable costs compared to continental licenses.
Establishing a business in the United Arab Emirates is relatively easy, and many companies and foreigners are taking advantage of this opportunity. To ensure that everything goes smoothly, it's best to work with a Dubai business creation specialist such as Business Incorporation Zone when setting up a new company in the United Arab Emirates. You may also want to use management or accounting software when setting up your company. With long-term investment visas now available from the government, business in the United Arab Emirates is booming. Using services from business configuration providers can increase your costs but if done properly it can provide cost-benefit ratio in the long run by avoiding business interruption due to improper configuration, faster access to corporate banking, and providing reliable advice that will help you make informed decisions. When starting a business in the United Arab Emirates, you should first consider what type of company you will form. Some of the most popular commercial banks locally are First Abu Dhabi Bank, Emirates NBD and Dubai Islamic Bank.
If you have a company in the United Arab Emirates, make sure to keep detailed records of everything related to your company. Some banks may also ask for business plans, contracts and invoices, and letters of reference. We can provide professional solutions based on your business objectives and goals that are tailored to the business environment in the United Arab Emirates so that your company can grow and succeed. Starting a business in Dubai or any other part of the United Arab Emirates can be an exciting venture for entrepreneurs from all over the world. However, it is important to understand all of the requirements before beginning this process. It is essential to obtain a visa if you plan on living and working in the country, as well as registering your business with the appropriate government body.
Additionally, it is beneficial to work with experienced professionals who can provide guidance throughout this process. Business Incorporation Zone is an experienced team of professionals who specialize in helping entrepreneurs set up their businesses in Dubai and other parts of the United Arab Emirates. We provide comprehensive services that include obtaining visas, registering businesses with government entities, setting up corporate banking accounts, and providing advice on how best to structure your business for success. If you are considering starting a business in Dubai or any other part of the United Arab Emirates, contact us today for more information about our services.