The country’s favorable tax regime is a big raffle, which falls a zero percent in personal and corporate income. There is also the strategic location of the UAE in the heart of the Middle East, which makes it the perfect center to carry out global trade.
Configuration is one of the free zones of the country, and the advantages that follow: the exemption of 100% of the tax on customs, no currency restriction, and the ability to repatriate all capital and profits, to name a few.
Finally, there is the process of forming the straightforward company, the Emirates of the UAE Emirates, which provides that it is familiar with the way the business you do in this part of the world; you can complete it in a few simple steps.
There are only six steps necessary to open a small company in Dubai or the UAE .
One: Decide your Business Activities.
The first step for business setup in UAE is to decide on your business activities. There are thousands of potential actions to choose from, and it is vital that lists any intention to carry out in your license application.
If you do not specify, each of your planned activities could lead to problems later on the line. These experts are familiar with the permitted activities and may suggest better alignment with their business.
Two: Choose a company name
With its outlined commercial activities, it is time to choose the name of your company. Here you must meet a strict set, but easy to follow, with name conventions. Once again, an expert in the configuration of the company can help him with this step.
In summary, you should avoid any offensive language or blasphemous. Avoid the names of known organizations and avoid abbreviations if you name your company after yourself, Dave Mann Consulting, instead of D Mann Consulting.
Three: Select a Location From Freezone and Mainland
Before making your license request, the final step is to decide whether you want to establish your business in an accessible area or continent.
There are many advantages for both. Accessible areas, such as Fujairah Creative City, offer benefits, such as a rapid and easy incorporation process, continuous business support, and financial incentives, such as fiscal exemptions and zero currency restrictions.
On the other hand, the continental business allows you to trade directly with the UAE market and assume potentially lucrative government contracts.
The configuration that is appropriate for you will depend on the nature of your business. Again, an expert in training the company can advise on the best approach.
If the cost of opening a small company in Dubai figure significant in your decision-making process, do not worry since prices are comparable if you opt for a free zone or continental configuration.
One of the essential requirements to start a small business is, of course, a commercial license. In most cases, continental license applications take about three weeks.
If you wish to do business from an accessible area, you must directly request the corresponding government authority. To guarantee a process without problems, it is once again a good idea to instruct a company’s training specialist at this stage.
Whether you make your request, or through a company’s training agent, it is generally only required to provide some details and some essential documentation, which includes:
Completed application form
If you are wondering how to start a Dubai business with little or no money, free zones are often a good option. Accessible areas, such as Fujairah Creative City, offer many affordable license packages without payments with social capital requirements, without an annual audit, and an easy incorporation process. Nor is there a need to be present in the UAE to establish their new company.
Five: requesting visas
Another critical requirement to start a small company is an UAE visa. The process to request your visa and those of your employees, in particular, but simple. Again, an expert in the training of the UAE company can help him with this step.
As the owner of an UAE commercial license, it can also sponsor others by their visas. It could be a spouse, father or son, or a domestic worker, as a housekeeper.
The maximum number of visas you can request will depend on the size of your company, its chosen configuration, and, for dependent tickets, your earnings.
Six: Opening of a corporate bank account
The strict UAE money laundering regulations make foreign entrepreneurs access the UAE corporate baking facility. Working with business consultants in the field makes a much smoother process.
The experts in the training of the company have excellent links with local and international banks. They can quickly contact the most suitable for their needs, including organizing face-to-face meetings.
Conclusion
While the steps necessary to start a business in the UAE are not too complex. It requires prior knowledge of the process. In addition, it is essential to keep in mind that the application process is only simple if your business application is complete and on time.
It is good to work with a specialist in the company’s training by establishing a new company in the UAE .