Dubai is a city with endless opportunities for everyone. UAE has strong economic ties with several countries like India, the UK, China, Germany, Iran, and others. Although the oil and the gas industry of the UAE is one of the major sectors, other business sectors also thrive here. Dubai has become an icon in the domain of entrepreneurship. It is one of the most robust economies with strategic economic diversification. As a result, the opportunities for those who want to start their businesses in Dubai are endless.
If you are a UK entrepreneur or a business looking to establish a new company or set up a new branch in Dubai, the environment here is favourable. Not to forget the strong UAE-UK ties. The United Kingdom and UAE go back a long way. With more than 50,000 UK companies operating in the UAE and 100,000+ British nationals living in the country, the two have made solid efforts to strengthen their ties. The business setup services in Dubai allow for the seamless formation of a company. They will give you all the assistance you need to establish your company.
In this blog, we will go over the process of setting up a business with a general overview of business setup services in Dubai.
What Are the Benefits of Setting Up a Business in Dubai?
The benefits of setting up a business in Dubai are attractive. Following are some of the well-known benefits:
- Broad trade network that extends to more than 220 countries
- Multi-modal logistic capacities
- Strong connectivity to other parts of the world via nearly 170 shipping lines and 120 airlines.
- Zero restrictions on currencies
- Negligible personal income tax and corporation tax
- Minimum government intervention with supportive policies
- Excellent infrastructure with an abundant supply of energy
- Availability of skilled human labour to help your company grow
- Congenial environment by the free zones to accelerate economic development
- Complete repatriation of profits and invested capital
- Endless choice of business activities to choose from
- Streamlined process of business setup and company formation
- Stringent law and order for ensuring the safety and security of investors
- Marketing opportunities like events and exhibitions all around the year
- Incentives and support for all kinds of businesses
What Is the Process of Setting Up a Business in Dubai?
The process of setting up a business in Dubai is straightforward. You can take assistance from companies offering business setup services for a seamless company formation process. However, it is vital to understand the general process to avoid mishaps.
Following is a general overview of the same:
1. Decide Your Business Activity
Start by choosing your business activity and ideating your company. You can get into almost any and every industry. The choices are many – food truck, spa, eCommerce, travel, digital marketing, event management, restaurants, consultancy, and many more. Choose the activity that suits your competency the best. It will also determine the type of licence you will have to get and the name you decide for your company.
2. Choose Your Company Name
The authorities have some special rules for naming a company. Some of these rules apply only to some industries. Thus, choose a name that is valid and meets all the requirements. Shuraa Business Setup can assist you with the list of the rules and help you choose a relevant name.
3. Decide Your Company Structure
You can form different companies in Dubai, including LLCs, joint ventures, shareholding companies, and general or limited partnerships. Carefully study the structures or take advice from experts like Shuraa Business Setup to find a suitable legal structure for your business plan.
4. Apply for the Licence
Once you have decided your trade activity, name, and company’s legal structure, gather all the relevant documents and apply for the licence. Your business activity will determine the type of licence you will need. Furthermore, your choice of place for setting up your business will determine the authority that you need to gain permits from. You can set up a business on the Mainland or in one of the many free zones in Dubai.
5. Additional Requirements
Depending on your business activity, you may need to do some of the following things:
- Take additional permits from different authorities
- Rent or lease a physical space
- Open a bank account
- Hire employees
Note.: Shuraa Business Setup professionals can assist with the exact process you will have to follow with the required documents for setting up your business. They also offer other business setup services in Dubai to ease the process.
What Documents Do You Need To Setup a Business in Dubai?
The list of documents that you need to submit for your business setup in Dubai differs from activity to activity. However, you must submit a few documents irrespective of your business activity. Following is a brief overview of the same:
- Passport size photographs
- Xerox copies of your passports
- Xerox copies of your stamp page or entry visa
Note.: Shuraa Business Setup will provide you with a comprehensive list of all the relevant documents you will have to submit for your business setup.
What Is the Cost of Setting Up a Business in Dubai?
The total cost of business setup in Dubai depends on multiple factors. These include your business activity, company structure, permits, additional permits, visas, location, and more. Shuraa experts can help you with the exact cost of setting up your business in Dubai after considering all these factors. They will also ensure that you do not overpay for anything.
What Are Some Business Setup Services in Dubai?
There are a wide variety of business setup services that you can avail. They will streamline the process of establishing your business. Furthermore, assistance from experts, like those at the Shuraa UK branch, will help you avoid mishaps.
Following are some business setup services in Dubai that you can avail yourself:
- Company formation in Dubai
- Acquiring Business Licences
- Finding suitable business partners
- Application for Investor Visa
- Rental offices in Dubai
- Tax and VAT services
- Pro Services
Start Your Business With Shuraa
Shuraa Business Setup offers excellent business setup services in Dubai. Established in 2001, we have more than 20 years of hands-on experience. Our abled team will help you choose the correct licence for your intended business activity and suggest a profitable company structure.
We will also assist you with a detailed list of documents you must submit to the relevant authorities as per your activity. Furthermore, our consultants shall help you arrange and organise these documents, ensuring they are valid. Additionally, we will help you with your visa applications and the issuance of permits. Lastly, our experts will ensure you do not overpay for your business setup.
All you have to do is give us a call, and our experts will be at your service.