There are several benefits to open a company in Dubai. These advantages include tax-free status, a wide variety of business options, and an excellent location for expats. However, before choosing to open a company in Dubai, it’s important to understand the requirements of opening a business in the emirate.
Easy to start a business
There are many advantages to Business setup in Dubai. The government has a business-friendly tax structure, and the country has a stable political system. However, there are a number of requirements to meet before getting a business license.
Obtaining a license to do business in the UAE is not difficult. There are a few different types of licenses available, and they vary depending on what your business does.
The first thing you should do is check with a company formation specialist. These experts have excellent relationships with local banks and will be able to guide you through the process.
One of the easiest and cheapest ways to establish a business in the UAE is to do so through a free zone. In a free zone, there are no paid-up share capital requirements, and the license costs are very affordable.
Infrastructure and amenities
Most would have a hard time choosing between the city of Dubai and the sands of Saudi Arabia. While the equine capital is no slouch, the former is a far cry from the latter. Despite its flaky public relations problems, it’s not all that bad and as such, it’s a perfect launching pad for a plethora of aspiring entrepreneurs with an eye on the prize.
Tax-free
There are many tax-free advantages of opening a company in Dubai. This high-profile jurisdiction has good press, a world-class infrastructure, and liberal policies across most industries.
The UAE government has offered a number of incentives to help new businesses start up in the country. However, there are also some challenges with tax reform.
While the upcoming federal corporate tax will not apply to most offshore companies, there are certain requirements for non-residents. For example, the parent company will need to hold a 95% stake in the shares of the local company.
In addition to the tax-free benefits, the UAE has an extensive network of Double Tax Agreements (DTAs) with over 40 countries. These tax treaties are designed to offer tax relief for cross-border economic activities.
Friendly towards small and medium scale enterprises
The UAE has made an eminently sensible effort to promote small and medium sized enterprises. Several government programs and initiatives have streamlined the process of getting a business started. For instance, SMEs can avail of reduced rates for business spaces, as well as incentives to get in on the act.
The United Arab Emirates (UAE) is a thriving country with plenty to offer its citizens and residents, including the opportunity to be an entrepreneur in its midst. While it’s no secret that the country is a hotbed of start-ups, the nation has gone all out to provide incentives for new and existing businesses. In fact, the Dubai Government is on a mission to establish 13500 new industrial companies over the next decade. To help these newcomers succeed, the UAE has created the Fund for Enterprise Development.
Great place for expats
Expats who want to open a company in Dubai will find the city a great place to do business. It’s a thriving business hub with a strong financial powerhouse and a stable political system. In addition, it offers a host of industries in which foreign investors can grow.
Unlike some other countries, the UAE does not impose a lot of trade restrictions. Foreigners can start a business there and have the opportunity to work remotely. However, there are some requirements to be met, such as hiring an Emirati partner and registering your business with the relevant authority.
Conclusion
As a matter of fact, a growing number of expats are moving to the UAE. According to a survey, the UAE ranked third among the world’s best places for expats.
