Dubai may be the most inviting place on earth for international investors. Business geniuses from all over the world may now work in the UAE with greater ease than at any point in recent memory thanks to the emirate.
Foreign investors take advantage of the UAE’s 0% corporate and individual income tax as well as the fact that they are now generally permitted to own 100 percent of the enterprise. The long-term visa is one of the ongoing improvements that enables foreigners to stay in the UAE for longer periods of time and even settle down here near the end of their careers.
With the correct assistance, starting a business in the UAE is not tough enough that non-residents can establish themselves here and run their operations from anywhere on the planet.
A foreigner or non-resident can start a business in Dubai in five easy steps
- Work with On Time BIZ
There isn’t much administration to deal with when setting up in Dubai, even though it’s meant to be a direct cycle, especially if you’re a non-occupant. So at this point, it’s best to engage with a regional authority like OnTime Biz. Before going on your application, we may make sure that each of your reports is accurate and complete.
- Choose your business activities
The configuration and licence type you select for your business will depend on the kind of operations you intend to conduct. For instance, if your company engages in manufacturing or any industrial activity, you’ll require an industrial licence. A business licence is required if you work in the commercial sector, which involves buying and selling items. You can collect more information by visiting the open a business in dubai.
- Free zone or mainland
After a quick discussion, the On Time Biz staff may advise you on whether a free zone or the mainland is the best location for your firm. Depending on your particular circumstances and the type of business you wish to start, the answer to this question will be different. For more information, visit Freezone company setup.
- Choose a company name
The naming of a company is a little different in Dubai than it is in the majority of the rest of the world. You must essentially follow a strict set of naming conventions.
Never use language that is offensive or obscene. When naming your company after yourself, stay away from acronyms and household company names; On Time Biz can register your chosen name for you and check to see if it is accessible.
- Apply for your license
Applying for your trade licence is the critical next step. If you are starting a business on the mainland, you need submit your application to the proper agency, such as the Dubai Department of Economic Development (DED). If you are starting a business in a free zone, you can apply directly to the managing authority.