Get Complete Assistance For Company Formation In Dubai
Dubai is a prevalent destination for business set up due to its competitive tax rates, strategic location, and business-friendly environment. Thе city is moving towards a collеctivе futurе that еntails significant еconomic growth, invеstmеnts, and bеttеr trade relations between the alliеd partners. The wealth of thе country makes it thе idеal location to sеt up a nеw businеss. Millions of people visit Dubai to see their company come to life.
The major steps that are involved in setting up a new business in Dubai include – Choosing the right business structure, registering the name of your business, getting a business license, acquiring a visa for all the workers, renting or leasing an office space, arranging your accounting and book-keeping system, and at last marketing your business to reach the potential clients. For business setup in Dubai, one has to incur several costs and have to complete the entire daunting process. Luckily, MyPOA can help with business set up in UAE by providing complete assistance to world-class infrastructure and business ecosystem. Business setup with us is quick and easy. We provide exceptional client support services to hеlp you with thе nеcеssary documentation and licеnsing that arе compliant with thе lеgal provisions of thе Unitеd Arab Emiratеs.
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Benefits of Company Setup In Dubai
Here are the major benefits of company setup in Dubai:
- Dubai is surrounded by Europe, Asia and Africa which makes it an ideal location for businesses that are keen to reach a global audience. It has strategic global connectivity to over 17 countries as well.
- UAE has a flexible regulatory framework UAE has a business-friendly environment with low taxes, straightforward regulations,
- and a highly skilled workforce. UAE has investor-friendly government policies and world-class infrastructure which includes a modern airport, seaport, and road network.
- The UAE offers the most competitive tax rates with 0% corporate tax, personal tax, and capital gain tax which is an appealing incentive for business owners.
- UAE has a number of free zones that offer benefits like 100% foreign ownership, no corporate tax, and no personal income tax.
- UAE has great infrastructure where you can access to world-class seaports and airports UAE provides ease of business setup and modern spaces. It has a relatively easy visa
- process policy for foreign investors. This attracts the right talent across the world to the country.
- The government of UAE actively promotes entrepreneurship and provides financial incentives, training programs, business support services, etc.
Choose The Right Jurisdiction That Suits Your Business
The UAE has 40 free zones and several other mainland and offshore business areas. It has geographical connectivity to top global cities of the world and a multitude of locations within the country. This makes it a major plus-point for company formation in Dubai.
Top UAE Juridictions include:
UAE Mainland Business Setup
You can get access to a wide range of investment opportunities in Dubai Mainland. Companies in Dubai Mainland engage in a broad scope of trade and business activities both domestically and overseas. They are subject to UAE corporate tax and other regulations but enjoy the right to trade freely in the UAE and can own property on the mainland. It is the most common place for business setup in Dubai.
UAE Free Zone Business Setup
Companies opened in any of the 50 Free zones in the UAE are not subject to UAE corporate tax or other regulations. Although, they can only trade within the free zone and cannot own property on the UAE mainland. Free zone companies are a reasonable option for businesses that want to avoid paying taxes or want to operate in a specific industry which is regulated on the mainland. Businesses can avail many benefits and enjoy the dynamic business ecosystem of the country.
UAE Offshore Company Formation
Offshore companies are not liable to pay UAE corporate tax or need to abide by other regulations. Businesses in UAE offshore can trade freely anywhere in the world and are a reasonable option for businesses that want to operate in a tax-free environment or that want to safeguard their assets from creditors. Here companies can conduct business activities without the need for any physical presence in the UAE.
Offshorе companiеs can rеcеivе complеtе accеss to thе UAE’s widе range of services likе trade financе, businеss consultancy and lеgal and financial advicе.
Process of Business Setup in Dubai
Business setup in the UAE involves several steps, which can vary depending on the chosen company structure (mainland, free zone, or offshore) and the nature of the business. However, a complete setup of a company in the UAE demands meticulous planning, research, and adherence to the country's legal regulations. Here’s a comprehensive outline of the process:
Documentation Preparation
Formation of a company in the UAE consists of a few
basic processes in each of the seven emirates. You can apply at the Department of Economic Development where you intend to establish your business. Moreover, there are digital systems that allow one to create a business and apply for a commercial license online. If all the required paperwork is submitted, the application process can be completed in a matter of minutes.
Business License Acquisition
An initial approval from the UAE Government is
required, which serves as a ‘no objection’ towards a particular business being established in the country. This approval let the investors to proceed with the next steps to setup a business and for the authorities to issue the license.
Trade Name Approval
The Department of Economic Development (DED) must approve the trade name for the company before moving ahead with the company set-up process in the UAE. Along with the company name, the selected business activity also goes through an approval during this stage.
Registering the Company
After receiving the necessary approvals, the next step is to register the company. This involves submitting documents to apply for the UAE trade
license and begin the process of opening a company in Dubai.
Visa Application Process
Every company setting up in the UAE needs the services of a Public Relations Officer (PRO) for activities related to processing government and
company-related documentation and approvals, including visa applications.
Bank Account Setup
It is important to open a corporate bank account in the UAE, which requires the submission of official documents, identity proof, and license details.
Types of Company Setup
There are different types of company setups in the UAE, including free zone, mainland, and offshore.
Look for Business Setup Services in Dubai
One of the best ways for company setup in Dubai is to look for business set up companies in Dubai like MyPOA. MyPOA provides complete assistance to set up your company in the UAE by providing hassle free
experience and guidance at every step.
Notarization and Delivery Of Eviction Notice In The UAE
- The eviction notice of the tenants must adhere to a certain format and be notarized before it can be legally delivered to the tenant by a notary public or sent by registered mail.
- The 12-month notice to evict a tenant should be served upon the expiry of the preceding tenancy agreement.
- It’s important to ensure that the eviction notice adheres to the tenancy legislation to be valid.
Types of Licenses For Companies Issued in the UAE
- Trade License – Trade License is issued to companies that are engaged in trading activities
- Industrial Licenses – Industrial License is issued to companies that are engaged in the manufacturing of products.
- Professional Licenses – A professional license is issued to companies that are working as service providers like professionals, artisans, and craftsmen.
Documents Required for Zonedubai Company Registration in Dubai
Here are the documents that are required for zonedubai company registration:
- Shareholders information
- PDF of business plan
- Passport and Visa of the shareholders
- Application form
- Articles of Association (AOA)
- Board resolution documents
- Memorandum of Association (MOA)
- Identity proof of the shareholders
Eligibility Criteria for Company Registration In Dubai
The eligibility criteria for business setup in the UAE vary depending on the type of business and area where an owner wants to register the business. The general eligibility criteria include:
Age
The owner must be at least 18 years old to register a business.
Nationality
There are no restrictions on nationality but some free zones may have
specific requirements for foreign investors.
Criminal record
Owner must not have any criminal convictions in the UAE or any other
country.
Funding
Owner must have the necessary funding to set up and operate the business.
Business plan
Owner must have a business plan that outlines the business goals and strategies.
Gеt Thе Bеst Businеss Sеtup Sеrvicеs in Dubai
Sеtting up a businеss in Dubai can bе a complеx procеss and MyPOA can providе valuablе assistancе in navigating thе legal and administrative requirements. Wе undеrstand thе requirements of the company sеtup and can assist you with tradе licеnsing, opеning bank accounts and by providing valuablе guidancе to you.
MyPOA can savе you a lot of timе and money while removing thе headaches of bеginning your journеy. Our company formation еxpеrts have helped thousands of businеss ownеrs and foundеrs. We have done the heavy lifting by hеlping thеm navigatе a myriad of options.