Dubai is a major world business hub that attracts global investors to set up their base in the region. There are numerous business benefits for entrepreneurs while starting a business in Dubai. The Free Trade Zones of Dubai support starting a business in the region to a great extent.
The Free Zones and Mainland of UAE make up the growing business ecosystem. The business owner can start their business in either jurisdiction depending on their business requirement. There is separate licensing authority for Free Zone and Mainland that issues the Trade License.
The Trade License can be obtained from the Dubai Economy or respective Economic Departments of the Emirate for starting a company in the mainland UAE. Foreign investors choose the Free Trade Zones of UAE due to many benefits to their business. Additionally, keeping the business setup cost low is a major factor in choosing the Free Zones in UAE.
Steps in Starting a Business in Dubai
Starting a business involves following certain steps. A business can be easily started in Dubai at a low cost. The cost of a 1 visa quota trade license in Dubai starts at AED 14,900 for 1 year. There are multiple options for investors to start a business in Dubai.
They can choose company setup packages with co-working spaces to executive offices. As per specific business activity the investor can opt for the right company setup package.
The first step in starting a business in Dubai is choosing the right business activity. Furthermore, selecting the right Free Zone is also essential. Then, the company name must be approved by the Licensing Authority.
Also, submit the investor’s passport copy and photograph to the authority for review. Make the fee payment and wait for the document’s approval. Obtain the Trade License and start operating the business. Then, apply for a UAE Residence Visa and take a business bank account for the new company.
Starting a business in Dubai – Benefits for the Investor
Starting a business in Dubai is highly beneficial for foreign investors. The low taxation, 100% foreign ownership, low-cost company setup packages, business-friendly laws, luxurious lifestyle, etc., make Dubai the best choice to start a business.
Also, the robust banking network, networking opportunities, public safety and security, and improved lifestyle drive foreign investors to settle in Dubai with their families and grow their businesses in the region.
1. Dubai – Trade Hub of the World
Dubai is located at the intersection of East and West. So, for businesses, it is a perfect location for setting up their global headquarters. So, starting a company in Dubai is highly beneficial for the investors as they can get to live in one of best cities of the world.
The favorable time zone, the Airport Seaport connectivity, well-established logistics network, robust trade relations with GCC, Asian countries, etc., make Dubai the right place for doing business.
2. Business Friendly Environment
Dubai is located The Government of Dubai has several initiatives that are aimed at promoting business. The Government has slashed service fees for many business services and the banks of UAE offer special incentives for businesses.
Also, there is 100% foreign ownership in both Mainland and Free Zone, the license issuing time is now just a day if the documents are all right. The robust government support and business-friendly initiative make Dubai the best place to start a company.
3. Diversified Economy
Several sectors are booming in Dubai and there are multiple avenues of growth. Entrepreneurs choose Dubai to start a company due to the possibilities of endless growth potential in the city. The real estate, tourism, retail, financial services, etc., are witnessing technological advancements.
Dubai is actively investing in innovation and technology such as Artificial Intelligence, Blockchain, FinTech, and more. There are initiatives such as the Smart Dubai 2030 that is aimed at creating a sustainable city of the future.
4. Multi-Cultural Workforce
The City is an attractive choice for skilled professionals due to the stable economy, business infrastructure, and low taxation. Also, the high standard of living and absence of personal income tax is making Dubai the top choice for foreign high-net-worth individuals.
There are workforce from more than 200 nationalities in Dubai and the city offers a host of amenities for recreation and living a luxurious life for many. The cost of living compared to Europe and US is significantly lower in Dubai.
5. Quality of Life and Safety
Dubai offers a high quality of life and world-class infrastructure to the residents. The City provides the best healthcare, schooling, banking facilities, entertainment options and more. Public Safety and Security is top-class and that makes it an attractive place to live and work for all.
So, these factors make Starting a Business in Dubai a great option for the investors. From strategic location and business-friendly system to a stable economy and world-class living standards, and multi-cultural workforce; Dubai has it all for you to survive happily.
How Aurion will assist in starting a business in Dubai?
The role of Business Consultants in starting a business in Dubai is undeniable. The business Consultants will handle end-to-end support services for the investors during the process of starting a business and beyond.
With the several Free Zone business setup packages, business activities, and office types, choosing the right company package at the lowest cost is important. AURION will guide the investors in choosing the right Free Zone for their company and assist in all administrative requirements.
You may also be interested to know more about “9 Steps to Follow for an Entrepreneur to Establish a Business in UAE“.
To know more about how to start a free zone company in Dubai, or an Onshore Company in Dubai talk to our expert team right away!
Contact us: Aurion Business Consultants
