Dubai has becoming an ultimate destination for those who want to start a credible business. Dubai’s visionary leadership, strategic location, stable economy, steady growth, tax-free regime, investor-friendly processes and many more reasons compel entrepreneurs to make it a primary base for their business set up or expansion. If you are a discerning entrepreneur, you will appreciate everything this business landscape has to offer.
Types of Dubai Business and UAE Business Set Ups
There are three main categories of businesses you can set up in UAE.
- Mainland License
- Free Zone License
- UAE & Foreign Offshore
Allows companies to do business with complete freedom, both within UAE and around the world. (Dubai also happens to be a major transit hub). Companies in the mainland can do business with government and semi-government organizations.
A Dubai Economic Department License allows companies to register their company in Dubai Mainland with a virtual office (without a physical office) on a sustainability contract, also known as ‘estidama’.
Free Zone Company – On shore
Allows businesses to have a 100% ownership. You don’t require a local sponsor or an agent to act as liaison. This is ideal predominantly for trading and industrial activity. Goods entering Free Zones are exempted from customs duty. Goods and services offered within Free Zones (designated zones) are exempted from VAT (Value added tax).
This is the most cost effective way to set up a company. This type of offshore company registration refers to a business operating outside UAE. The offshore possibility has basically been set up to cater for companies who need to have a regional “tax relief-invoicing-facility”. There is no minimum capital required for this type of company and there is also no need to set up an office facility. The off-shore regulations have been issued according to new international standards and company regulations have been made out in strict conformity with new anti-money laundering measurements.
GRG business consultants have been setting up new businesses in Dubai and in other emirates for years and are well versed in all the requirements needed. GRG will be happy to give you a free consultation and endeavor to hand hold you in arriving at the bespoke solutions that aligns best with your intended business activity. It is always rewarding to rely on professionals and be assured of appropriate and trustworthy advice. GRG – The Company formation consultant destination in Dubai & the UAE.