Now, anyone in the UAE, regardless of their financial capacity and budget, can start any type of commercial activity there. This is due to the different living conditions there and the multiplicity of their requirements and expenses. It is also due to the difference in the types of investment and their needs between each emirate in the UAE and their multiplicity.
We notice the increase in the population, the increase in the number of births, and the increase in the trend towards the UAE, which has led to the need for many diverse and different services necessary for life. This leads to multiple investments in Dubai, whether they are investors holding Emirati citizenship who own capital or migrant workers, etc. It is considered one of the best countries in which you can start a new business or any new investment, whatever its type.
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ToggleHow to establish a company in the Emirates
A business visa must be obtained in the UAE in order to invest in the UAE. You can establish a company in the UAE, establish a company in Jill Ali, or establish a company in the free zones in the event that you wish to obtain residency in the UAE for investment. This is for businesses owned by professionals in the liberal professions. This requires a commercial license for the work. The price of a work visa ranges from 2,500 dirhams to 16,000 dirhams, depending on the nature of the free zone in which you invest and work in the UAE.
Companies wishing to establish their businesses in the free zone or in Jebel Ali enjoy greater flexibility in choosing the various commercial or service activities that suit the nature of their work, in addition to all that distinguishes these areas from the comprehensive tax exemption, which is considered one of the biggest factors attracting many new contractors, which contributes to activating the experience of investors when contracting or establishing companies in the free zone or establishing companies in Jebel Ali or establishing a company in the Emirates and conducting its business.
Costs of establishing a company in the Emirates
The costs of establishing a company in the UAE are limited to several expenses, which are as follows:
- The cost of obtaining a commercial license (license to practice business).
- The purchase price of the site for the office or company through which you conduct business, whether it is rented or purchased.
- The purchase price of items related to furniture and decoration for the office or company where you do your business.
- The cost of obtaining and obtaining work permits for sponsored employees and the visas required for them under the name of your new company.
- The cost of opening a new bank account in the company’s name in one of the banks, then depositing the minimum capital depending on the type of your business activity.
- The cost of the legal form of the company, meaning that it is commercial, industrial or professional, has a fundamental role in determining the cost of establishment. The cost of establishing industrial companies is higher than that of establishing commercial and professional companies.
- Finally, the cost of obtaining a commercial license in Dubai.
Residency and investment in the Emirates
The UAE is considered one of the best distinguished places to invest in, but investing in the UAE requires many conditions, the most important of which is residency. We are now clarifying the relationship between investment and residency in the UAE for migrant workers who have excellent investment ideas and capital, while developing an investment plan, and they want to know about residency in the UAE and its relationship to investment.
We will explain, pointing out the impact of residency on investment in the Emirates, how to reside there, the conditions of residency in the Emirates in general, what are the best places where they can invest their money there, and identifying the best locations and the role of the Emirati government in activating and stimulating investment in the Emirates. We will answer these questions in this topic.
Residency and investment in the UAE have a close relationship linked to each other in the multiplicity of commercial activities in Sharjah and the activation of the trade and investment market movement made it one of the best countries in which to invest through skilled migrant workers with capital to establish several investment companies in order to invest their money. This is in addition to what the UAE government provides in terms of providing services to facilitate the investment process in the UAE. It also works to provide the needs of new projects in all ways and as quickly as possible and works to facilitate all the facilities and services necessary to start any type of these investments. It also works to provide housing in it by reducing the percentage of real estate rents or purchasing them, which makes anyone who buys any real estate in the UAE a real investor there and has the right to own and invest in it, whatever its value.
Real estate residency in the Emirates is what leads to real estate investment, and real estate investment in the Emirates is the purchase of any building, any residential facility, any company, or the purchase of a plot of land to establish an investment company on it, but with the availability of several conditions that are available and absolutely unrestricted.
Steps to establish a company in the Emirates
Despite the facilities provided by the UAE government in establishing investment companies there for migrant workers, it has made clear that it has set several basic conditions that must be complied with, which are as follows:
Determine the nature of the company’s activity:
You must determine the nature of the company’s activity that you wish to establish in the Emirates. There are many activities and they differ depending on whether they are commercial, professional, or industrial activities. All of them are economic activities, and we all know that the number of economic activities in the Emirates is approximately twenty thousand diverse economic activities, and the Emirati government is working to facilitate determining the type of this activity.
Determine the legal form of the company:
The legal form of the company must also be determined so that the competent authorities know which type of company your new company is suitable for. Companies are divided according to their legal form into five types, which are (a general partnership, a limited liability company, a public joint-stock company, a private joint-stock company, and a civil business company).
Trade name registration:
The trade name in establishing a company in the Emirates is what distinguishes any license from another license, and it is related to the form and activity of the company and is approved under several conditions stipulated and implemented by the Department of Economic Development before approval, namely that the trade name does not contain any words inappropriate for the country, that the name does not violate the public and private taste of the country, and that the company name (trade name) accurately and clearly reflects the commercial activity.
Get initial approval:
After determining the company’s commercial activity, determining its legal form, and knowing and registering its trade name, you must now obtain initial approval from the relevant authorities and bodies for your company’s economic activity, and you must follow up in order to obtain the approval of the authorities related to the activity.
Preparing the articles of association and choosing a headquarters for your business:
The conclusion or preparation of the contract designated for establishing a company in Jebel Ali or establishing a company in the free zone or establishing a company in the Emirates is to bring the original contract of establishment in agreement between you and the competent authorities in the Emirates or in the free zone. You must also choose a location to establish the company in Jebel Ali or establish a company in the Emirates to conduct your business in the established companies. They must have an actual address existing and present in the United Arab Emirates.
Obtaining approvals from the authorities concerned with the facility’s activity:
Some activities and projects carried out in the UAE require obtaining additional approvals from regulatory bodies specialized in those projects, such as approval from the Ministry of Economy, the Ministry of Interior, the Ministry of Justice, and the Civil Defense.
Get the license:
After completing all the aforementioned procedures to prepare and establish an investment company in Jebel Ali or establish a company in the Emirates, you can now receive the license to practice the activity for which you want to establish the company after attaching many of the required documents and paying the commercial license fees for establishing companies, then registering in the Chamber of Commerce as a member.