Posted on November 10, 2022 by Driven Properties Latam
Setting up a company in Dubai is easier than you might imagine.
The United Arab Emirates stands out for its economic activity, tax advantages and the simplicity of procedures, this reason allows the country to have ideal conditions to found and grow a company, and there are many entrepreneurs who are interested in this perspective.
There are many reasons why Dubai is one of the most attractive destinations for business investors.
The tax system is very interesting, international institutions consider Dubai as a tax haven due there is no corporate tax. VAT applies only to products and services sold and is 5%.
The creation and registration of a company is a very fast process, there are several options, which allows great flexibility. There is no minimum capital requirement, and you don’t need to be resident in Dubai.
Finally, Dubai also enjoys a very healthy economy: the city has successfully transitioned from an oil to a tourist haven, and growth is expected to continue in the coming years.
A free zone company has its physical headquarters on Dubai soil, these companies must operate in certain areas:
The process of set up a Free-zone Company in the emirate is quick and simple. You must present a passport and an identity document with a photo.
If your goal is to create a company that can trade throughout the UAE, you will need to change to SRL legal status and create a Mainland company.
This type of company is the most common in the UAE, as they are suitable for small traders, restaurateurs, professionals and larger companies.
Since 2020, for many activities it is possible to maintain 100% ownership. For this, you will have to resort to an LSA, a Local Services Agent, who will accompany you in the process of creating your company on the continent.
In any case, it is important to be accompanied by an expert in set up a company in Dubai, who can guide you through the process, and if necessary.
This company allows you to work in Dubai and do business in the UAE without being a resident in the city and without having a bank account in the country.
However, this type of company doesn’t have the same freedom as companies that have their physical head office in the emirate, this kind of business cannot have offices in Dubai, nor employ people in the city and nor have suppliers from the UAE.
You can choose to establish an Offshore Company in a free zone, to have 100% of the capital of your company and benefit from tax advantages.
GET A LICENSE
There are three types of license: commercial, industrial and professional, the annual rate ranges from 4,000 to 20,000 USD.
The documents you must submit to obtain any of these licenses:
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