Dubai is one among the fastest growing economical centers around the world. With the best and most flexible business laws out there. Still confused on how to set up a business in Dubai and step foot in Middle East. It is indeed quite a demanding field to be in when you are filled with entrepreneurs around you. Don’t worry we got it all figured out for you here.
First and foremost you have to have an idea of the business environment in UAE. Here, Dubai is home to the most influential MNCs around the world like, IBM, Amazon, Huawei. The country has always been generous to its foreign entrepreneurs by providing a well upgraded infrastructure which promises an advanced and luxurious lifestyle as there are no personal taxes.
Apart from this, they are situated in a very strategic location serving as a bridge between Europe and Asia, and also have major ports and roads connected well to help in the smooth flow of goods and services.
The jurisdiction that you have selected for your business start – up plays a very pivotal role in the benefits you acquire from it;
When it comes to starting your business in the Dubai Mainland area the Department of Economy & Tourism (DET) manages registration and licensing of mainland companies. Here you get 100% foreign ownership and it is highly flexible to access markets around UAE without any restrictions.
Coming to start off your business in the Free Zone area, same as above you get 100% ownership of your business set – up. There will be 0% corporate taxation up to profits until AED 375,000 (9% corporate taxation for profits above AED 375,000), and 0% personal income tax. Under certain specific conditions, the Free Zone company can get Corporate Tax exemptions.
Acquiring a license from the specific Free Zone allows you to open your workspace in that Free Zone. For operating outside the Free Zone, a special permit from DET can be availed for companies operating in Dubai-based Free Zones.
