Business setup in Dubai is easy for new entrepreneurs. You don’t have to spend a lot of money to get a company up and running here. That’s because there are startup packages that will allow you to quickly and seamlessly set up your business in a way that suits your goals and requirements. These packages are perfect for solo entrepreneurs and SMEs with limited budgets. Moreover, they are offered by trustworthy business solutions providers based in the UAE, so you can be sure to be supported by a knowledgeable local expert who can help you make informed decisions.
Why set up in Dubai?
Dubai is a business-friendly city; due to the efforts of the local government, which regularly introduces new policies and improves older laws to benefit entrepreneurs in the city. One of the most remarkable changes is the implementation of full business ownership for foreign nationals.
Previously, expats were required to partner with a local sponsor (UAE national) before registering their commercial company with the DED (Department of Economic Development) on the mainland. Thus, the business had a Shares structure of 51 to 49, where 51 percent of shares were owned by the Emirati sponsor. Now, an expat business can own 100 percent of the shares.
What are the packages?
Affordable packages for a business setup in Dubai are designed to be cost-effective. These include the necessary approvals, processes, service fees, and documentation. Here’s an overview of the packages:
Limited Liability Company (LLC)
An LLC business setup permits Commercial and Industrial activities, and it allows employees to work freely in the international and UAE domestic markets. This type of company also makes you eligible for a Tax Residency Certificate.
Providers of business setup packages in Dubai will act on your behalf to arrange investor and dependent visas, visas and work permits, and residence permits for dependents. They will ensure the timely registration of your company within a short period and set you up with a good UAE office that will help complete your registration. They can also help you connect with local sponsors and arrange back-office services, such as bank accounts and financial services.
Offshore company formation
There are business setup packages that help you establish an IBC (International Business Company). With this setup, you don’t need a local sponsor, and you can enjoy a zero percent tax rate. Although you can only work with clients outside the UAE, an IBC is a business setup in Dubai that lets you establish a company cost-effectively in the UAE jurisdiction.
Business solutions providers offer packages; where they act on your behalf and help you set up a virtual office. They’ll also provide a full suite of business services you might need down the line.
FZE and FZC
Free Zone Establishments and Free Zone Companies operate in the free economic zones in the seven emirates. You may own the entire company without a local sponsor and claim back the 5% VAT if you do business within the Free Zone and/or overseas. Business solutions providers can help you pick the correct free zone for your business, register your company on your behalf, and provide office space for lease. They’ll also take care of back-office services and help to obtain the necessary licenses and permits.