There are a lot of reasons why entrepreneurs choose to do business setup in Dubai. The country’s favorable tax system is a major draw as it taxes zero percent on the income of individuals and businesses. There are also those of the United Arab Emirates. A strategic location in the heart of the Middle East makes it the perfect hub for global trade. Get settled in one of the country’s free zones and the benefits will continue.
1: Decide Your Business Activities
The first step for business setup in Dubai is deciding your business activities. There are thousands of possible activities to choose from, and it is important that you list the activities that you plan to do on your license application.
2: Choose a company name
Choose your company name with the business activities outlined. There are a few things to keep in mind when naming a company in the United Arab Emirates. Here you need to adhere to a strict but easy-to-follow setup.
3: Choose a configuration: free zone or continental? The ultimate step earlier than applying for a license is to decide whether you want to start your business in a free zone or on the mainland. Both have many advantages. Free zones have benefits like a quick and easy incorporation process, ongoing business support, and financial incentives like tax exemptions and zero currency restrictions. On the other hand, the core business enables you to trade directly with the UAE market and take on potentially lucrative government contracts.
4: Applying for a trade license one of the most important requirements for starting a small business is of course the trade license. Obtaining a small business license is a straightforward process for both free zone and mainland businesses. Are on the mainland, apply for your license directly with the Department of Economic Development or the municipality of the emirate where you are installing. For business in a free zone, you must apply directly to the relevant government agency. Depending on the nature of your business and the license required, it can often be granted within a few days.
5: Visa Application Another important requirement for starting a small business is a UAE visa. However, the process of applying for your own visa, especially that of your employees, is simple.
6: Opening a Corporate Account Business creation experts have excellent connections with local and international banks and can easily connect you to the bank that best suits your needs and even organize face-to-face meetings If necessary