Clearing the RERA examination is important to set up a real estate business and the cost of the examination depends upon the investor’s educational qualifications. It is different for the bachelor’s degree holder, the master’s degree holder, and those without a degree. Real estate is one the best investment options anywhere because of its high and relatively stable value; and when it comes to real estate, what better place to invest in than Dubai! The UAE, of which Dubai is the commercial hub, is one of the most affluent and developed economies with a great dynamic and forward-looking business temperament marked by constant change and improvement.
Choose a business activity (or activities)
Ensure you have a UAE business license, and some banks may require shareholders to have a residency visa. Minimum balance requirements typically range from AED 10,000 to AED 150,000. The account is usually opened within two to four weeks upon successful application. The DED is the main authority responsible for business registration and licensing in the mainland areas of Dubai. You will need to submit your business application and required documents to the DED to obtain initial approval for business setup. A Free Zone Company offers 100% foreign ownership, tax exemptions in specific cases, and streamlined setup procedures, making it particularly attractive for international businesses.
The best way to get an idea of the total UAE company registration cost is to discuss your requirements with the team at BIZ. There are two common types of business licenses available to foreigners starting up in Dubai. This license allows you to open a business anywhere in the mainland UAE. Yes, one of the significant advantages of doing business in Dubai is that there are no personal or corporate income taxes. This tax-friendly environment makes Dubai an attractive destination for entrepreneurs and investors. Offshore companies are ideal for international business and asset protection. They offer confidentiality, tax benefits, and no requirement for physical presence.
Once you have completed the process, you will receive the approval certificate and a provisional trade licence number. Once your application is approved, the final steps involve registering your business and obtaining your Dubai free zone license. With these corporate documents, you can open a corporate bank account and commence your business operations. Additionally, you’ll receive your UAE residency visa issued by the free zone where your company is located. If you opt for a mainland company, you’ll need a local sponsor or a service agent, depending on your business activity. While a local sponsor holds 51% of the shares, a service agent does not have any ownership but assists with government-related processes.
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Once established, you’ll find all the tools to becoming a success right here within the free zone. As a next step, once your application has been processed, the government of Dubai will notify you when and where your license will be issued. In this post, we look at different aspects of a business in Dubai right from starting up, paperwork required and most common problems new businesses run into in Dubai. It helps to know these so that you can avoid them and focus on growing your business rather than other operational issues. Decide on a suitable location for your business operations, considering factors such as accessibility, visibility, and cost.
The best location to start a business in Dubai depends on your business requirements. If your goal is to save more tax and independency, set up at either offshore or freezone. For a mainland business licence in Dubai, it is important to identify the exact nature of your proposed business, and activities thereof. Company Formation in Dubai spells out several big benefits that include tax savings, good governance, superior infrastructure, premium lifestyle, and constantly developing opportunities. Another unique offering is the easy access to more than 2 billion consumers in multiple markets, all located within a 4-hour flight.
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However, businesses are typically limited to operating within the confines of the free zone. Once you’ve determined the type of license you require, you can make your application. While 100% foreign ownership of mainland businesses is now permitted in many cases, it is usually more prudent for overseas entrepreneurs to start a free zone busines, where 100% ownership is guaranteed. The emirate is home to many company formation experts and setup agents, created to help guide foreign entrepreneurs through the license, visa, and business incorporation processes.
To setup a business in Dubai, the market demands unique services and solutions. Customization and personalization is the key and we are experts in that domain. Read more about company formation in Dubai here. For solo entrepreneurs and start-ups, Dubai Economy’s Instant License starts at approximately AED 9,000 (US$ 2,450) and is typically issued on the same day. Likewise, some of Dubai’s free zones offer extremely affordable business set up packages. For instance, International Free Zone Authority in Dubai offers theIFZA Dubai Trading Licence which starts at AED 12,500 (US$ 3,400) and is issued within 5 working days. Some of the newer free zones offer greater flexibility such as professional, commercial and industrial activities combined into a single business license. Our in-house lawyers, chartered accountants, and financial consultants will help you with feasibility studies, due diligence, corporate structuring and restructuring towards successful company formation in Dubai.