To set up a business in Dubai that involves business activities or the buying and selling of goods, you must obtain a business license. This license can cover importing companies (26%), exports, sales, logistics, travel (26%), tourism, general stores and real estate. Why start a business in Dubai? — Choose an industry— Choose a location— Choose a company name— Complete the paperwork— Apply for a license— Open a bank account— Apply for a visa— Etiquette in the United Arab Emirates Conclusion Whether you decide to undertake the process yourself or hire business setup experts to accelerate your setup, make sure you get good advice on the implications of your decisions. After helping more than 60,000 entrepreneurs start their businesses, we have developed the definitive roadmap on how to start a business in Dubai.
The future of business in Dubai also looks very promising. According to the International Monetary Fund (IMF), the United Arab Emirates is expected to lead economic growth in the Arabian Gulf this year, with an increase of 2.5%. This is well ahead of the region's largest economy, Saudi Arabia, which is expected to grow by 0.4%. On the other hand, if you choose to establish yourself on the continent, you can trade directly with local and international markets.
However, unless your business activity pertains to professional services, you'll need to work with a local partner who owns 51% of your company's shares. Virtuzone provides companies on the continent with a local nominated corporate shareholder who will act as their local partner. In this way, foreign business owners can retain 100% operational and financial control over their continental company. Once you've completed these steps, you're ready to start trading.
Compared to other parts of the world, starting a company in the United Arab Emirates is very simple: it is ranked 16th in the world in the World Bank's latest ease of doing business ranking. Al Saaha Office B, 404, Souk Al Bahar, Burj Khalifa District, Dubai, United Arab Emirates. All companies must have a business license in Dubai to continue trading and demonstrate their legality. Although obtaining this license can be expensive, the post-purchase phase provides numerous advantages and incentives.
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. Don't forget that keeping business in the family is a way of life here, so it can also change the dynamics of your relationships with companies, as well as the speed and style of your decisions. If you follow these three steps that I have learned in my 12 years of professional experience in Dubai, I believe that you will be well on your way to successfully establishing your business in this global hub. While it doesn't have to be complicated, starting a business here requires some local expertise, so read on to find out how to start a business in Dubai as a foreigner.
Filing an application for a business license in Dubai is relatively simple if you have the right assistance. 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. A business configuration consultant can connect you with companies that offer corporate sponsorship, where you will be granted documented authority and 100% ownership of your business. Once you receive the approvals, you will need to submit the documents to apply for your business license in the United Arab Emirates and begin the process of opening a company in Dubai.
Investors generally obtain a certificate after forming a company in Dubai, which is called a business license or a business license. With Dubai's burgeoning startup ecosystem, it's clear that residents of this modern city are open to new businesses and ideas. These steps will provide you with access to the diverse market in the United Arab Emirates, but they can also provide you with an opportunity to expand your business to other countries in the MENA region. The emirate is home to many business creation experts and business creation agents, created to help guide foreign entrepreneurs through licensing, visa and company formation processes.
However, the selection of a jurisdiction for your company depends on your business requirements and your business activity. If you want to set up a free zone company in Dubai, you should also choose a suitable free zone based on your industry and business activities. .