Dubai has undergone a remarkable transformation in the last twenty years due to its openness to trade, capital, and skilled and unskilled labour inflows. More specifically, a mainland company formation in Dubai can leverage the factors leading to the city’s tremendous growth in the economy.
The Dubai mainland, monitored by the Department of Economic Development (DED), has been a business hub for UK entrepreneurs for many years. The advantages of the Dubai mainland add to Dubai’s flexible and conducive business environment.
If you want a business setup in Dubai Mainland, continue reading. This blog will walk you through the entire process and the benefits of a mainland company formation in Dubai.
What Documents Do You Require for a Mainland Company Formation?
When setting up your mainland company in Dubai, ensure you have all the required documents. Some of the documents to be submitted to concerned authorities are as follows:
- Copies of passports and visas
- Two passport-size photographs
- Entry visa and stamp pages
The type of documents depends on certain factors like the business activity and mainland company structure, among various others. Shuraa UK branch consultants can help you with a comprehensive list of documents and the required approvals.
How to Start a Mainland Company in Dubai?
Setting up a business on the Dubai mainland is pretty straightforward. The government authorities are incredibly supportive. However, you must understand the process reasonably to avoid mishaps or delays. Following is a brief overview of the steps you will need to follow for the mainland company formation in Dubai.
- A vast range of businesses are allowed in the Dubai Mainland. So, choose a business activity as per your interests and abilities.
- Then, decide on a trading name for your company. Check if the name is available and if it complies with the naming rules outlined by the authorities. Accordingly, register the name with the concerned authorities.
- Decide on a company structure for your mainland business. You can choose from a sole proprietorship, Limited Liability Company (LLC) of a foreign company, or branch office of a foreign company.
- Then, get pre-approvals from the concerned authorities by submitting relevant documents. Some businesses may need to present additional documents, depending on the activities they choose to carry out.
- Choose a suitable office space for your business in Dubai mainland. Consider factors like the trading activity, company size, infrastructural requirements, and more.
- Apply for the trade licence appropriate for your business activities by submitting relevant documents and paying the licence fee.
- Once the authorities are satisfied with the presented documents, they will issue your licence.
- Once you have your licence, you can start your company operations.
Note.: You may also have to open a corporate bank account for smoother transactions depending on your business activity.
What Is the Cost of Starting a Mainland Company in Dubai?
Various costs contribute to the final cost of setting up a company in the Dubai mainland. For instance, the licence you choose, the number of visas, the activities you carry out, and many others. Considering this, coming up with a fixed number is not possible. Nonetheless, as an estimate, the company formation cost in Dubai Mainland is approximately AED 25,000.
Shuraa UK branch experts will help you with the exact final cost of starting your mainland business in Dubai, considering all the dependent factors.
Benefits of a Mainland Company Formation in Dubai
The mainland company formation in Dubai comes with a host of benefits. Some of the prime benefits are as follows:
Easy Company Setup Process
Many UK businesses have leveraged the Dubai mainland’s rapidly growing technology and cooperative administration. And why not? The UAE scores a remarkable 80.9 out of 100 in the ease of doing business. This means the country has better and simpler rules for carrying out business activities.
For these reasons, starting a mainland business involves a hassle-free business setup process with negligible paperwork. Apart from this, there is no minimum capital requirement for a mainland company set up in Dubai.
Full Repatriation of Profits and No Corporate Taxes
Foreign enterprises operating on the Dubai mainland are not required to pay taxes on a portion of their capital invested and profits earned. All types of companies on the UAE mainland are allowed to repatriate their invested capital and profits completely. In addition, the mainland businesses in Dubai are exempted from corporate taxes.
No Visa Restrictions
There are no restrictions on the number of visas if your company is operating on the Dubai mainland. Although, your suitability to get visas depends on the number of office spaces you’d need. That is, more office spaces imply more visas.
Moreover, the provision of golden visas is made to facilitate foreigners to live, work and study in the UAE. This not only makes the job market flexible but also enhances the country’s talent pool. Moreover, entrepreneurs with golden visas can live in the UAE for up to 10 years, which is longer than regular visas.
Flexibility to Trade Anywhere
All UK businesses in the Dubai mainland are permitted to trade anywhere in the UAE and worldwide. They have no restrictions on their business activities regarding their trading partners or clients. This helps a mainland company get ample global reach and exposure.
Note: You’d need to pay a 5% customs duty on imported goods.
100% Ownership
UK entrepreneurs can now have 100% ownership of their mainland businesses in Dubai. So, if you build your own business on the mainland, you can choose from over 120 business activities across more than 10 sectors and enjoy complete business ownership.
More Business Activities
The Dubai mainland allows conducting a higher number of business activities compared to free zones. Thus, UK entrepreneurs can choose from several business activities such as general trading, real estate, investment, and many more. They are more likely to find the business activity of their choice in the list of business activities permitted in the Dubai mainland.
Freedom to Choose Office Location
UK Businesses on the Dubai mainland can set up their offices anywhere in the city. This enables them to trade within the local market as well as expand their business through several branches. Over time, this can help them establish a significant footprint in the UAE.
Permit to Undertake Government Projects
The Dubai mainland companies are permitted to undertake government projects, apart from working on private commercial projects. This increases the variety of projects the mainland companies can work upon.
Start Your Mainland Company in Dubai With Shuraa
With the Shuraa UK Branch, the mainland company setup in Dubai is not difficult. We will streamline the entire mainland company formation process for you with our experienced and expert consultants.
Furthermore, we can create custom-made business setup packages if your business has specific needs. With us, you can make the most of the Dubai mainland. Get in touch with us right away!