Dubai is one of the most inviting places on the planet for international investment. In recent years, the UAE has made it simpler than ever for entrepreneurs from all over the world to conduct business there.
Foreign investors may not only take advantage of the UAE's 0% tax rate on corporate and personal income, but they can also keep 100 percent firm ownership in most situations. Another recent reform is the long-term visa, which enables foreigners to remain in the UAE for lengthy periods of time and maybe retire here at the conclusion of their career.
Starting a company in the UAE is so simple with the correct assistance that non-residents may open up shop and operate from anywhere in the globe.
Continue reading to see how TVG Business Setup Consultants can help you get your business up and operating, no matter where you are.
Is it possible for a non-resident to establish a company in Dubai?
In most cases, the answer is yes. However, there may be restrictions based on the sort of company you want to create, your nationality, and the country where you live for tax purposes.
In certain situations, you may need to collaborate with a local sponsor who will own 51% of your company. They are not, however, engaged in decision making and are paid a pre-agreed-upon price for their services.
While you may benefit from the UAE's 0% corporation tax rate as a non-resident, whether you can profit from this rate on your personal income depends on your place of tax residence. After a brief meeting, TVG may provide advice.
Business licence types in Dubai
Foreign entrepreneurs in Dubai may get one of two kinds of business licences. The first is a licence for the mainland. This licence permits you to operate a business anywhere on the UAE's mainland.
As a non-resident, you may need to cooperate with a local sponsor to trade, as mentioned above.
Another alternative is to begin in a free zone. As a foreigner or non-resident in the UAE, this is typically the most easy and cost-effective approach to establish a company.
Depending on the free zone, you may be immune from all customs taxes, have no currency restrictions, and pay no corporation tax.
Five stages to starting a company as a foreigner or non-resident in Dubai
Step 1: Collaborate with TVG
While it is intended to be a simple procedure, there is some paperwork to do when establishing a business in Dubai, especially if you are a non-resident. As a result, it's advisable to deal with a local specialist like TVG at this time. We can ensure that all of your documentation are correct and in order before proceeding with your application.
Step 2: Determine your company operations.
The sort of business operations you want to do will influence the appropriate setup and licencing type for your company. For example, if your company operations are classified as industrial or manufacturing, you will need an industrial licence. A commercial licence is required if you work in the business sector, which includes purchasing and selling items.
Step 3 - Free zone or continental
Following a brief conversation, the TVG experts may advise you on the optimum placement for your company - free zone or mainland. There is no easy answer to this issue; it will be determined by your personal circumstances as well as the sort of company you desire to establish.
Step 4: Select a business name
The procedure of naming a corporation in Dubai differs from that of most of the rest of the globe. Essentially, you must follow a set of naming rules.
Any rude or profane words should be avoided. Avoid well-known business names and acronyms if naming your firm after yourself - for example, Dave Mann Consulting rather than D Mann Consulting. Before registering your selected name, TVG may check to see whether it is available.
Step 5: Submit an application for your licence.
Now comes the important part: applying for your trade licence.
If you are establishing a business on the mainland, you should apply to the appropriate agency, such as the Dubai Department of Economic Development (DED). If you are establishing a business in a free zone, you may apply directly to the controlling authority.
Documents needed to establish a company in Dubai
Whether in a free zone or on the mainland, you will almost always need to provide:
A filled-out application form
Incorporation Articles (if necessary)
Copies of passports for all shareholders
A concise explanation of the expected business operations
Dubai firm establishment expenses
As an example, a licencing package in Fujairah Creative City costs AED 24,775, which includes one visa application and usage of the free zone's co-working facilities.
However, since there are so many factors to consider when beginning a new firm, it is impossible to determine the precise price without a complete picture.
The easiest approach to determine the entire cost of UAE business registration is to discuss your needs with the TVG staff. We can then give you with a thorough and personalised quote.
TVG can help you start a company in Dubai.
Hopefully, this tutorial has shown that, if you have the correct information, starting a company as a foreigner or non-resident doesn't have to be difficult.
Having said that, it does need some previous understanding of the procedure. Furthermore, it is crucial to remember that the application procedure is only simple if your licence application is full and error-free at the time of submission.
When establishing a new company in the UAE, it is a good idea to consult with a Dubai business setup expert such as TVG Business Setup in UAE to guarantee that this is the case.
We are a team of company registration specialists that are enthusiastic about helping budding entrepreneurs and SMEs realise their ambitions.
In addition to managing your licence application, TVG can help you create corporate bank accounts and recommend the best financial institution for your unique requirements.
We also provide visa and immigration services and can manage all government procedures, approvals, work permits, and visa applications needed to do business in the UAE.
In brief, our professionals can form your company, apply for licences and visas, and handle all of the essential paperwork, freeing you up to focus on operating your business.