Dubai: a place with an efficient and well-developed business structure that encourages people to work and enables them to turn their aspirations into reality. One of the biggest global centers for trade, education, employment, and business activities, Dubai has evolved itself as the most important centre for commercial activities.
There is no better time to business setup in dubai. “One does not need a local sponsor to launch their company. 100% of the onshore company can now be owned by denoting ex-pats”, says New FDI Laws. Apart from that, owing to the company laws, flexible regulatory procedures, quick timelines, and above all easy approval processes, the mainland company formation has become the most favourable choice for the region’s start-up community and investors.
After you determine to set up a company in Dubai, You must be clear about the type of company it would be: Tasks, Duties and Goals. According to which, You would select the category of entity your business falls into. Several categories of business entities in Dubai are listed as follows:
- Sole Proprietor
- Limited Liability Company (LLC)
- Private Shareholding Company
- Public Shareholding Company
- Partnership Company
- Branch of Foreign Company
- Representative Company
By analyzing the factors like needs and requirements of the organization, Market Reach and area of business you become able to gauge the business viability of a particular firm.
There are multiple stages involved in the company formation in Dubai. First, you need to know that Dubai Companies are primarily divided into three economic zones depending upon their business type: Mainland, Freezone, and offshore. To decide on the economic zone to establish your company getting the knowledge of rules and regulations and budget for setting up in each of them is important.
Business Setup in Mainland
The mainland region of Dubai comes under the department of economic development.
If you plan to operate your business on the mainland, you must go through complete information about the Dubai Mainland market.
Submit required licenses and complete the paperwork to get yourself registered.
There are four significant mainland regions: Dubai Mainland, Abu Dhabi Mainland, Sharjah Mainland and Ajman Mainland.
The most chosen option among the three of them is Freezone. The incentives that it offers,
- 100% company ownership,
- 0% corporation and personal tax,
- 100% returns on capital and profits,
- 100% exemption on import and export tax and
- No currency restrictions
perks of operating in a free zone also include Flexible desks and office settings, freehold property and minimal obligations.
Five major free zones are:
Dubai Free Zones, Abu Dhabi free zones, Sharjah free zones, Ajman free zones and Ras Al-Khaimah Free zone.
Business Setup in Off Shore
The companies planning to register themselves offshore have to follow just a quick procedure. There is no need for an operating license for offshore companies; only a certificate of incorporation is given to them.
You are only required to have complete information about the registration process.
Major Benefits include:
And complete privacy.
Leading offshore regions are:
Dubai Offshore Ajman Offshore Jebel Ali (JAFZA) Offshore and Ras AI- Khaimah (RAK) offshore.