Business Setup in Dubai – What You Should Know
Most people are aware that Dubai has grown to become one of the biggest business hubs in the middle east, but they may not be aware of the many benefits that it offers to entrepreneurs and startups that are looking to grow. If you want to set up a business in Dubai there are a number of considerations you need to make, like knowing what rules and regulations you need to follow, what documents are required, etc. However, you may be surprised to find that the business setup process in Dubai has never been easier. With savings on costs and a simplified registration process, the company formation process in Dubai with AstroLabs can be done in a matter of weeks.
What’s in this article:
- Why choose Dubai as your company formation location?
- How to set up your company in Dubai?
- What to take into consideration before setting up your business in Dubai.
- A couple of ways to save on costs when setting up.
- Why choose a Dubai Free Zone?
1. Why Choose Dubai as your Company Formation Location?
Dubai has become an international hub for business that boasts quality infrastructure, great education, and a booming economy. It is no longer an inconvenience for business owners to travel to Dubai. The City presents itself as a gateway to the MENA region hosting regional headquarters for most of the world’s multicorporate firms. The company formation process in Dubai has become much easier with relaxed rules and requirements. In the past few years, the government has been liberalizing the laws and introducing new policies to make it easier for investors to start their businesses in the country. Investors can take advantage of the investment opportunities in the UAE and can set up their company in no time. Not to mention that Dubai has a unique blend of a cosmopolitan lifestyle and a rich culture that makes it a great place to live and work. Get in touch to find out how easily you can setup your business in Dubai.
2. How to Set Up Your Company in Dubai?
Setting up in Dubai requires a few documents and a couple of visits (maybe). Depending on whether you’re setting up in a free zone or not can make a difference. With AstroLabs, you get the DMCC Free Zone license. You’ll need a business plan, a No Objection Certificate (NOC), visa issuing and then opening a bank account. With AstroLabs, we can help facilitate the process and get your business setup and running in as little as 4-6 weeks.
Want to talk to an expert or even start setting up your business in Dubai?
3. What to take into consideration before setting up your business in dubai.
The UAE has a great potential for doing business, but it is important to understand the UAE business culture before you jump into it. Dubai is moving more towards a liberal standpoint however still holds on to its Arab roots. Although around 88% of the population are actually expats and immigrants, respecting the locals and local laws come before all else. On the business registration side, you will have to research the business activity, its legalization in Dubai as well as it’s potential for growth in the Market. One more thing to keep in mind is when it comes to opening a bank account. You’ll need an address for your business, through AstroLabs’ coworking space (should you choose to opt for it), we can help with that, otherwise a physical address is needed.
4. Ways To Save on Costs When Setting Up.
It’s no surprise that starting a business requires money, and most of the times the main issue (assuming you’re not a startup who’s still looking for investors) is the large sum of money you need to acquire a trade license and then of course .. renting an office space! Luckily, there are ways around both at AstroLabs to help smoothen your business setup process. When licensing your company, the first year’s fee of around 30,000 AED upfront can be waived and paid on monthly installments to help you get up and running straight away. But what about renting an office? Coworking spaces are becoming a popular option for most startups, and even large firms who are starting to adopt the work from home or remote working plans, or cut down on costs. AstroLabs’ coworking spaces, located at the heart of JLT, comes with all the amenities you’ll need, free coffee, is open 24/7 and provides a number of packages to help you suit your need. Not to mention the unmatched community, free events and memberships benefits you’ll find that will help you scale your business throughout the region. Sign up to visit AstroLabs Coworking Space For A Free Day!
5. Why choose a Dubai Free Zone?
Dubai has long been a favorite for doing business in the Middle East. The city’s strategic location and booming economy make it a prime location for foreign investors, and the Dubai Free Zones Authority (DFZA) has worked hard to keep this reputation alive and well. The DFZA has established a number of free zones for foreign investors and companies and has increased their benefits and incentives over the years. The DMCC Free Zone in specific has been ranked as the World’s Best Free Zone for 6 consecutive years by The Financial Times. Land-based free zones are popular with foreign entrepreneurs for good reason. Establishing a company in a free zone means 0% corporate and personal tax, 100% company ownership and 100% return of capital and profits without currency restrictions. What you make, you keep. Get your DMCC Free Zone Business License!
It’s hard to find a better location for a business than Dubai. With a thriving, sophisticated community and a booming economy, there really is no better place to start your business setup. We hope you found our post informative and hope it has inspired you to start your own business in Dubai! If so, click on the link below to sign up and talk to one of our experts to learn more and help you starting building your tech enabled business in Dubai.
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