Set up a company in UAE is a profitable business investment for investors and entrepreneurs. The UAE offers a strong business ecosystem and several commercial prospects. The UAE is a popular choice for both local and international investors because of its well-governed commercial jurisdictions, government assistance, and ease of doing business.
The UAE’s tax-free status, 100% foreign ownership in the UAE’s Free Zones, and a host of other commercial advantages are attracting foreign investors and entrepreneurs.
How to set up a company in UAE? | Start a business in Dubai, UAE
Establish companies in the UAE is a simple procedure, with several options for different business creation options available to investors.
Dubai has risen to the top of every investor’s choice of desirable business locations, due to the introduction of long-term residency permits, tax-free status, 100% foreign ownership, and simple company formation. Our lawyers in dubai show you the main steps to set up a company in UAE:
- Select the appropriate business activity
- Choose a company name and have it approved.
- Select a Business Structure – Free Zone Establishment /Free Zone Company
- Find the perfect office space and create the rental agreement.
- Prepare the papers and pay the applicable fees.
- Prepare the Memorandum of Association and submit it to the Free Zone Authority together with the appropriate documentation.
- Obtain the Trade License and other company documentation from the Free Zone (finalized Memorandum of Association, company stamp, office keys, etc.).
- Apply for a UAE residence visa for the investor/director and sponsor the investor’s family.
- Create a Business Bank Account
Certain industries, such as health care, pharmaceuticals, education, transportation, and finance, require fewer permissions than others.
Furthermore, based on the legislation of the Free Zones, only a few of them permit remote business formation in the UAE without the actual presence of the Shareholders.
What documents are required to set up a company in UAE?
How can I check company details in UAE? the answer is quite easy according to our best lawery: almost any form of business may establish a foundation in Dubai through a variety of zones under certain authorities. Engineering, oil and gas, retail, trade and logistics, tourism, education, hospitality, real estate and construction, advertising, market research, technology, media and entertainment, manufacturing, automotive, arts, and many more industries may help businesses. In order to do that, there are basic documents that must be prepared:
- Personal Credentials of Shareholders/Directors/Investors – Copies of Visa (if already a resident of the UAE), Passport, No Objection Certificate (Optional), etc.
- Approvals from the appropriate authorities for certain business operations. (Aurion will help you with this.)
- Shareholder Certificate, Memorandum of Association, and any other legal documents required by the authorities, together with the Company Registration Form for the Free Zone or Dubai Economy.
What Is the Cost of a Company Formation in the UAE?
the cost of establishing companies in the UAE varies greatly depending on the area in which the firm is formed. The cost of establishing a company in a free zone is determined by the facilities available (virtual office/physical office/warehouse/land), the Visa quota, and the Freezone’s location. The cost of establishing an offshore company in the UAE is solely determined by the jurisdiction chosen.
In general, the Low-Cost Free Zone company in UAE starts at about 11,500 / USD 3133. The charge rises as more facilities are made accessible. A non-resident offshore corporation in the UAE costs AED 7500 / USD 2050 to establish. The cost of establishing a corporation in the UAE begins at AED 25,000.
How to Apply for a Business Visa in the UAE? | Setting up a Business in Dubai
If you want to start a business setup in Dubai, UAE, you will require a visa to live and work there. There are two kinds of entrepreneurs. Without the requirement for sponsorship, both a five-year and a ten-year visa are available.
There are two ways to obtain a five-year visa. To begin, you must be connected to an existing project with a minimum capital of AED 500,000. Second, you must acquire the clearance of a UAE-accredited business incubator.
The 10-year visa is more difficult to get. There are two options once more. The first requires a deposit of at least AED 10 million in public investment. Alternatively, you might form a corporation with a minimum investment of AED 10 million or invest AED 10 million in an existing firm.
There are several exceptions for those with exceptional abilities. For example, with the consent of the Ministry of Culture and Knowledge Development, creative persons may be awarded a 10-year visa.
As an investor, requesting a Company Registration in UAE is one of the most proactive decisions you can make. Dubai offers many unique things to offer that can help your business develop in the blink of an eye.
Where in the world can you find a tax-free zone? This signifies that Dubai offers a business-friendly environment for investment. Khairallah Advocates & Legal Consultants provides the best services and support on how to start a business in Dubai in order to speed up the documentation and paperwork process and let you concentrate on establishing your business in Dubai.