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Setting up a business in Dubai

٠٦ فبراير Setting up a business in Dubai

Why set up a business in Dubai?

When setting up a business in Dubai, one of the most important steps in developing a viable business plan is to understand the initial costs of setting up a business. Dubai’s tax-free status is an attractive proposition for many investors, but it’s important to consider the fees required to issue a new business license. The Department of Economic Development’s website provides a useful tool that allows business owners looking to set up a business in Dubai to estimate the fees required to obtain a license for their business.

If you are planning to set up a business in a Dubai free zone, you should keep in mind that each free zone has different set-up steps and fees than other free zones. Many free zones also require that a business owner has a minimum capital requirement if they want to set up a business or project in a Dubai free zone, as opposed to simply opening a new branch of an existing company. Other costs of running a business in Dubai or a free zone include the cost of sponsoring employees and providing them with the necessary visas and paperwork to be allowed to reside in the country.

Businesses should also consider the future costs of importing goods into the country; Dubai Customs has clear guidelines on the types of goods that can be brought in and the costs involved. If a company intends to trade in the GCC only, customs duties will be lower thanks to the GCC Common Market laws, which promote trade cooperation and facilitate its practice among GCC citizens.

Investing in Dubai

As for residency and investment in Dubai, we must first know how to reside in Dubai and whether residency affects the existence of diverse investment in Dubai and how to choose the appropriate types or type of investment and whether residency and investment in Dubai are closely related to each other. We will answer all these questions in this topic.

Yes, we all know the support of the UAE government, especially the Dubai government, for entrepreneurs and investors and facilitating all services and needs related to projects to start a new business or activity in Dubai.

Residence and investment in Dubai are closely related to each other. The many events that stimulate the trade and industry movement in Dubai and the provision of services and entrepreneurship have all made it a country that attracts many people to reside in it and invest their money in it because this country is characterized by prosperity in living and providing all services and providing means and ways of security and safety and interest in both health and education as well as transportation and all other services with the continuous and permanent development of all services and public bodies, which makes it one of the best countries for investment, residence and life in.

We mean that residency and investment in Dubai means real estate residency, meaning that the UAE allows foreigners to reside on its lands, buy real estate there, and invest in it through that property. In other words, a foreigner who wants to obtain real estate residency in any country usually has this residency determined by rules that govern the ownership process, such as what is the value of the property that he must own, in addition to what is the permitted period, and all of these rules differ from one country to another.

Real estate investment in Dubai may be subject to many rules and conditions that determine and regulate it, which are as follows:

  • The value of the property desired for investment must not be less than one million UAE dirhams.
  • The property must be complete and fully constructed.
  • The investor who owns the property must have a monthly income of no less than 10,000 dirhams.
  • The application is submitted by submitting an application to obtain a visa after the property price has been paid in full to the property owner, especially in the case of purchasing the property through a loan or mortgage.

 The applicant who wants to invest, reside and establish a company in Dubai must be in good health, not suffering from any serious or contagious diseases, and must pass the medical examination designated for him to detect this, taking into consideration that the medical examination will be repeated when renewing the residence again.

 The person who wants to reside and invest in Dubai submits an application to the General Directorate of Residency and Foreigners Affairs, attaching a photo and a copy of his passport, and submits the property ownership contract, but on condition that it is in the name of the applicant alone, and pays the visa fees. After approval of this application, the applicant will be granted a two-year residence permit, renewable if he wishes or if there are no obstacles to residency and investment in Dubai.

Costs of setting up a company in Dubai

  1. Cost of a commercial license “Cost of a commercial license in the Dubai Free Zone” (license to practice business).
  2. The cost of the company location or office where you want to conduct your business (annual office rent or the cost of purchasing a new office).
  3. Costs related to office furniture and decoration.
  4. The cost of work permits and visas required for employees sponsored under your company name.
  5. Open a bank account in the company’s name and deposit the minimum capital required according to the type of your business activity.

The legal form of the company also plays a fundamental role in increasing or decreasing the cost of establishment. For example, the costs of establishing industrial companies are higher than those of commercial and professional companies.

The commercial license in Dubai is the most important document you need, and of course we help you to obtain the commercial license in the easiest way possible.

If you are planning to set up a business in Dubai, you need to decide on the options in order to be able to determine the cost, such as whether the company is large or small, how many employees and where you want to set up the company?

So you need to know the fees required, because there are new business licenses that you have to obtain for a fee and a fee, in addition to obtaining visas for the company’s employees. There are costs of sponsoring employees and providing them with the necessary visas and papers in order for them to be allowed to reside in the United Arab Emirates.