While it is designed to be a straightforward process, there is a little admin to take care of when setting up in Dubai, particularly if you are a non-resident. For this reason, it’s best to work with a local expert such as BIZ at this stage. We can make sure all your documents are accurate and in order before embarking on your application. This is usually the most straightforward and cost-effective way to start a business as a foreigner or non-resident in the UAE. However, as a non-resident, you may need to work with a local sponsor in order to trade, as detailed above. Dubai is one of the most welcoming environments on earth for foreign investors.
Read more about business setup in UAE here. How to Start a Business in Dubai, a city with humble beginnings that has transformed into a global business powerhouse, stands as a testament to visionary ambitions turned into reality. Situated at the crossroads of three continents and strategically positioned between East and West, Dubai has become a central hub for international trade and commerce. Submit all required documents to the relevant authorities, initiating the verification process and application processing. To make your free zone application, simply provide your company setup agent with some basic documentation and a few details about your business, and they will take care of the rest.
And finally, given the huge growth in demand from around the world, the real estate market is expected to soar higher in the future. Now that you have a clear understanding of the steps and required documentation for starting a general trading business in Dubai, why delay any further? Establishing a general trading business in Dubai promises lucrative profits, and the government of Dubai is known for its supportive and collaborative approach, simplifying the setup process. Choose a suitable local or international bank and open a corporate bank account. Familiarize yourself with different financial institutions and their requirements.
If your business involves activities related to construction, real estate, health, and other public health and safety matters, you may need to obtain approvals from the Dubai Municipality. Clearly define your business activity and select a unique trade name that complies with the guidelines set by the Department of Economic Development . Before plunging into the business setup, conduct thorough market research and a feasibility study to assess the demand for your product or service and understand the competitive landscape. A Representative Office allows companies to conduct market research and promote their products without engaging in commercial activities. It provides a cost-effective means of exploring Dubai’s market potential.
Each Emirate or free zone will have its own economic regulations, which you would need to comply with. The cost can also vary a little, from one free zone and Emirate to another. In Dubai alone, the first half of this year saw over 45,000 new business licences being, according to Dubai Economy and Tourism . Speak to our business development and sales team if you need help setting up your FZCO in Jafza. You can schedule a call or visit us at our sales centre in Jebel Ali Free Zone. If any of the documents need attestation, Jafza will advise you regarding this. Please note, Jafza reserves the right to request any additional documentation that is deemed necessary.
Once the Department of Economic Development obtains approval from the trade license and commercial registration department, they will proceed to issue the general trading license for your business. Simply put, submitting the required original documents and obtaining approval from the relevant department will enable you to obtain your general trading license. If you are setting up a clothes shop or a content management consultancy, on the other hand, there are no major additional approvals you would need for the licence registration. Setting up a foreign company in Dubai offers benefits like tax advantages, access to global markets, a strategic location, and a business-friendly environment. The specific requirements may vary depending on the nature of the business activity. It is advisable to consult with a qualified business setup consultant like Adam Global to get assistance with the registration process.
III. Steps to Register a Business in Dubai
There are also certain standards that the name must adhere to, including avoiding any blasphemous language or references to religious or political organisations. Dubai has some particular requirements about what activities are permitted under what licence. So, the best advice is to work with a company formation specialist at this stage to ensure a smooth process. The type of licence you apply for will also depend on the activities you wish to carry out – such as professional services, e commerce, commercial, trading, etc. Tax benefits which include zero corporation and personal tax, 100% company ownership, 100% repatriation of capital and profits, no currency restrictions, and 100% import and export tax exemption. Decide on the legal structure of your business, whether it’s a sole proprietorship, partnership, limited liability company , or a branch of a foreign company.