How to Start a Business in Dubai Free Zone
Dubai is a great destination not only for tourism but also for business. Do you want to get into the gift basket business? Do you need company formation in Dubai? Let's start reading this article.
Dubai, known as the city of gold, and business hub in the Middle East. The business-friendly tax system, stunning infrastructure, and various free zones make Dubai a strategic magnet for entrepreneurs. As a result, if you want a business setup in Dubai, then this city is growing about 3 million peoples in the business world. Last year, start-ups pledged nearly 400 million investments in the UAE.
Free Trade Zones
The UAE has more than 40 "free zones" for foreign companies for start-ups. Some offer more straightforward procedures for new businesses, corporate tax exemptions, and simple documents. Most importantly, they allow these companies to be 100% owned by foreigners. Corporate Tax UAE consultants can offer more advice and guidance for those looking to set up businesses in the area.
Sharjah Media City (SHAMS) is one of the newest business setup services provided and the most promising free zones in the United Arab Emirates today located within 20 minutes driving distance from Dubai. The only free zone that offers companies to combine their trade and services with the same license.
Why a Free Zone Company?
Freezone company formation in UAE offer entrepreneurs who wish to do so the opportunity to start their own business without the need for a local sponsor. This type of business start-up is designed to encourage foreign investment with the most accessible start-up processes as well as lower overhead costs.
Alphaequitymc offers the pro services in Dubai cost-effectively our clients with the discounted package. That meets their needs, and as there are multiple free zones all over UAE, we help you to get the license the best free zone according to your business needs, from the first in the last step, we take care of everything so you can focus on your business plan.
How to Start a Business in the Dubai Free Zone?
Anyone wants to start a business in the Dubai Free Zone, the most important thing to know is the variety of areas it has been divided into different business clusters for ease of getting industry knowledge and networking quickly. There are three ways to set up a business in the UAE: free zones, non-free zones, and overseas. Again, free zones are divided into specific zones that have different rules and regulations. So, a person should check the various protocols for how to start a business in Dubai Free Zone.
Dubai is home to many world-renowned and reputable banks. So, there are many alternatives to you to get advisory from accounting firms in Dubai to open bank account having the best accounting services in Dubai for your business goals. An atmosphere of competition between banks resulting in different banks charging different fees.
According to a survey conducted by Financial Brand Emirates NBD, the largest asset bank in Dubai is the most trusted local lender of the UAE. It has the most loyal customers regarding Accounting and bookkeeping services.
Banks are taking good initiatives to facilitate the culture for start-ups. According to CCN, "RAK Bank, a retail and business bank in the UAE, has partnered with Ripple to launch a blockchain to create direct cross-border payments to retail customers in India. It is the largest recipient of money in the world."
Suppose you are an entrepreneur and planning to start a business across borders, do good international market research and get on board before you leave ports than Dubai is the best place for best accounting services for small business. Some companies hold the hands of new divers and help them with all the steps necessary to settle in new territory. Alpha Equity Management Consultancy - a 360 ° solution for entrepreneurs who want to meet the challenges of globalization, can be your key partner in helping you develop and apply a comprehensive strategic approach to commerce.
Alpha Equity Management Consultancy is a top accounting firm in Dubai. Well, the known brand platform for a businessman from which entrepreneurs can access business services on a global scale; personalized market intelligence for their businesses, based on big data analysis and artificial intelligence; access on request to office space; simplified banking systems; and access to investors around the world.
The Advantages of Starting a Company in Dubai
If you want to invest abroad, Dubai is a great choice. It is the fastest-growing state in the United Arab Emirates in terms of economic growth. Placing your company in this country is quite simply a guarantee of the success of your business. Indeed, you give it the benefit of a stable and competitive economy. Nowadays, investors from all over the world are drawn to Dubai, why not you!
Here are some benefits of setting up your business in Dubai:
- Flexible investment
- Unlimited number of visas
- Wide choice of licensed business activities
- Zero professional and personal tax
Business Setup in Dubai is straightforward; however, the location of the company must be chosen carefully as this has a significant impact on its success. In Dubai, the free zones are divided according to the sector of activity for ease of doing business in UAE. Ultramodern free zones with all the necessary infrastructure to make an internationalization project successful.
Besides, creating a company in a free zone in Dubai has several positive points:
- You have all of your company's capital
- The repatriation of all capital plus profits is possible thanks to the tax treaties established between France and the countries of the United Arab Emirates.
- For 15 years you pay no local corporate and income tax
- Zero trade barriers or quotas
- You can hire expatriates without restriction
- You benefit from three years of a residence visa for the States of the United Arab Emirates
- Individual professional and business owners are eligible to get five or 10-year resident visas as well.
However, to ensure a profitable business set up in Dubai, it is strongly recommended to be accompanied throughout the procedure. It is better to let professionals study your project; they can also take care of all the formalities necessary for your establishment.
Essential Points to Consider when Starting a Business in Dubai
A word of advice, to be successful in Business Setup in Dubai, it is strongly recommended to learn about local cultures and regulations. Speaking Arabic is a huge asset. Thus, you will not need support from specialized companies, the cost of which can be expensive. Next, what type of business do you want to start in Dubai? Your choice will determine the type of license you will need: Commercial, professional or industrial activities.
Suppose you choose one of the above or multiple activities subject to approval.In that case, you will need to obtain additional authorizationsfrom concern departments: The choice of legal structure is essential, if you want to practice as a self-employed person, you will need to inform yourself beforehand. Indeed, the rules relating to the composition of your company depend on the location and the type of company. Regarding the trade name, it must indicate the nature of your business. Information should be found on the official website of the Department of Economic Development (DED).
A company established in Dubai must have a share capital, the minimum amount of which is set in the memorandum of association of the company. Usually, there is no need to pay a minimum share capital when you start you start. As for your premises, choose your offices only after the administrative and legal side is finished. If you set up your business in free zones, you can get support in finding premises suited to your structure. Regarding employees, it depends on the type of activity your company carries out in the free zones.
Depending on your situation, you will need local support:
- Local contact: for free zones
- Partner, agent, local sponsor: for those who hold DED licenses.
For comments, more details and specific enquiries, please feel free to contact a senior consultant at firstname.lastname@example.org.