Every year, thousands of new businesses are established in Dubai, with entrepreneurs coming from all over the world to do business. A lot of things have contributed to the Emirates’ popularity. For one thing, it guarantees a 0% tax rate on both corporate and personal income. Numerous startup incubators are also located here, with the purpose of empowering businesses to thrive and grow.
Dubai: Great Place to Start a Business.
One of the main reasons for the UAE’s appeal among entrepreneurs is its quick and inexpensive business formation procedure. Dubai is also an excellent location for international trade, with direct flights to Asia, Africa, Europe, and the Middle East, as well as a time zone that accommodates many of the world’s major financial centers.
The activities you have to undertake.
You’ll also need to pick your business activities at this early stage. When starting a business in Dubai, the first step is to decide on your business activity. The most important criteria are that the activities you select seem to be on the Department of Economic Development’s (DED) approved list. There are almost 2,000 alternatives on the list, covering every business conceivable. Here are a few crucial points to remember while choosing a company name, so kindly ensure to select more than 2 names before starting the procedures.
Apply for your trade license.
There are numerous sorts of licenses available, and the one that is best for you will be decided by your company’s activity. An industrial license is required if your company’s operations are classified as industrial or manufacturing. A commercial license is required if you work in the business sector, which includes the purchasing and selling of items. Professional service providers, on the other hand, will require a professional license.
Some basic documentation:
- Filled Application form
- A copy of the proposed owner’s passport
- Two color passport photos
Make your visa applications; the maximum number of visas you may apply for is governed by the size of your company, the configuration you select, and, in the case of any dependent visas, personal and other factors.
When starting a business in Dubai, there’s a lot more to think about than simply the cost of the license. You must also account for the cost of employing workers, if necessary; visas for you and your employees; company premises, if necessary; marketing, advertising, stock, and a variety of other expenses. The license itself is reasonably priced. In Dubai, you may expect to pay between AED 5,000 and AED 20,000 for a license as per your operations and business type.
Start your business in Dubai, UAE.
If you have the right knowledge, starting a business in Dubai is not really difficult. It does, however, need some prior knowledge of the method. It’s also worth mentioning that the application process is only straightforward if your license application is complete and error-free when submitted. Furthermore, it’s a good idea to consult with a company formation specialist like CIG Dubai before starting a new firm in the UAE. Contact us now: email@example.com