Once a desert region, Dubai has walked a long path, developing itself into one of the most economically flourishing countries. Thanks to the enormous efforts and economic policies of the Emirati Government that the city has become the best place to carry out business. From several tax-free zones and 100% business ownership to concessions on custom duty and easy logistics, the skyscraper city has a lot to offer. In this article, let us thoroughly understand everything you will require for Dubai company formation.
Starting a business in Dubai: Step-by-step procedure!
Dubai is a popular choice amongst international investors and world-class business owners because of its lucrative economy, state-of-art infrastructures, brilliant tax policies and sound legal system. Are you planning to start a company in Dubai and earn enhanced revenue? Rest assured! The business hub of the Middle East will not let your expectation down. Here is how you can register your business enterprise in Dubai:
- Business Structure: The first step towards starting your company in Dubai is selecting the right business structure. As per your business requirement, you can establish a free zone company, a Limited Liability Company or an onshore or offshore Company. Whatever your choice, the structure of your business will depend on the number of shareholders you have, the capital investment and the commercial activities you wish to undertake.
- Company Name: For Dubai company formation, you also require giving a name to your business establishment that does not pre-exist. For that, you must check with the local free zone authority or the Dubai Economic Department whether or not the proposed name is available.
- License Application: After deciding on the company name, the next crucial step is to gather a license to begin your business. There are different types of licenses, like Professional, Commercial and Industrial. You can apply for them according to the business activities you aim to conduct in Dubai.
- Company Site: Location plays a pivotal role in the growth and development of business. Remember, in Dubai, you can choose the office space according to your business activities, the number of employees and the company budget.
Free Zones in Dubai: A brief overview!
Are you wondering what is free zone in Dubai? Well! The specific economic regions the Emirati government has set up to attract worldwide traders to Dubai are called the Free-Trade zones. The entrepreneurs can enjoy numerous benefits like tax concessions, 100% ownership and flexible custom duty by starting their business organisations in these zones.
Conversely, the Emirate also generates exceeded economic growth through the businesses carried out in these Free-Trade zones. Nonetheless, the free zones have legislation and government rules and regulations separate from mainland Dubai, which you must follow to avoid penalties and legal puddles. The following are the advantages you get by forming a free zone company:
- Absolute foreign ownership.
- Complete repatriation of capital and profits.
- Exemption of all the import and export taxes.
- Exemption of all income and corporate taxes.
The renowned corporate service providers in Dubai offer premium-quality services at a reasonable cost. If you wish to know what is free zone in Dubai or need guidance regarding company registration, visit their official website and fill out their enquiry form.