Setup your Company in Dubai with 100% ownership
Registering Your Company Name
Business Setup
Free Life time Visa
Bank Account Assistance
Note: The actual cost will vary based on the business activity.
Q & A:
Q: What is the step-by-step process to open a company in Dubai?
A: The process generally includes choosing a business activity, selecting a business structure (e.g., Free Zone, Mainland), obtaining initial approvals, registering the company name, preparing legal documents, applying for a business license, Partner visa and setting up a corporate bank account.
Q: How long does it take to set up a business in Dubai?
A: The timeframe can vary but typically ranges from a 15 days to several weeks, depending on the type of business, location, and documentation.
Q: What are the required documents for a foreign national to set up a company?
A: Common documents include a copy of the passport, a business plan, a No Objection Certificate (NOC) from the current sponsor (if applicable), and any relevant industry-specific permits.
Q: What are the different types of companies I can set up?
A: You can establish a Free Zone company, a Mainland company, or an Offshore company. Each has different regulations and benefits.
Q: Which type of company is most suitable for my business?
A: It depends on your business activities, target market, and whether you plan to trade directly in the UAE or internationally. A consultant can provide tailored advice based on your needs.
Q: What are the differences between a Free Zone company and a Mainland company?
A: A Free Zone company allows 100% foreign ownership and is limited to operating within the Free Zone or internationally, while a Mainland company can trade directly with the UAE market but may require a local partner.
Q: Can I own 100% of the business as a foreigner?
A: Yes, in Free Zones, you can own 100% of your business. In Mainland companies, a local sponsor is typically required, unless your business activity allows for full ownership.
Q: What type of trade license will I need for my business?
A: The type of trade license depends on your business activity, such as commercial, industrial, or professional.
Q: Are there any specific licenses or permits required for my industry?
A: Yes, certain industries may require additional permits or approvals from relevant authorities. It’s essential to verify this based on your business type.
Q: What is the cost of obtaining a business license?
A: License costs can vary widely based on the business type and location, typically ranging from AED 10,000 to AED 50,000 or more.
Q: Do I need a local sponsor or partner to set up a company?
A: A local sponsor is generally required for a Mainland company, but not for a Free Zone company. Also in few activities now you can hold 100% ownership in mainland.
Q: What are the corporate tax requirements in Dubai?
A: As of 2023, a corporate tax of 9% is applicable for companies with profits exceeding AED 375,000. However, there are exemptions in certain Free Zones.
Q: Are there any VAT implications for my business?
A: Yes, the UAE has a VAT rate of 5%, which applies to most goods and services, and businesses with a turnover above a certain threshold must register for VAT.
Q: What are the costs involved in setting up a company?
A: Costs can include registration fees, licensing fees, office rental, visa fees, and legal consultation fees. It’s advisable to prepare a detailed budget.
Q: Can I open a corporate bank account in Dubai? What is the process?
A: Yes, you can open a corporate bank account. The process typically involves submitting documents such as your trade license, company formation documents, Office Ejeri and identification.
Q: What are the banking requirements for foreign-owned companies?
A: Requirements may vary by bank but generally include proof of business activity, identification documents, and a minimum deposit.
Q: Are there any restrictions on transferring profits outside the UAE?
A: Generally, there are no restrictions on transferring profits, but you may need to comply with bank regulations and provide documentation.
Q: Do I need to have a physical office in Dubai?
A: Yes, most businesses are required to have a physical office space. However, Free Zones may offer flexible options like virtual offices.
Q: What are the options for office spaces in Free Zones vs. Mainland?
A: Free Zones typically offer various office solutions, including flexi-desks and dedicated offices. Mainland companies usually require a dedicated office space.
Q: Can I operate a virtual office in Dubai?
A: Yes, some Free Zones allow virtual office setups, which provide a legal address without the need for a physical space.
Q: Can I obtain a UAE residency visa by setting up a company?
A: Yes, establishing a company allows you to apply for a residency visa, as well as visas for employees and family members.
Q: How many visas can I apply for under my company?
A: The number of visas you can apply for depends on your office size and type of company; generally, it’s determined by the space you lease.
Q: What is the process and cost of obtaining a visa for employees or family members?
A: The process includes applying for a visa through the Ministry of Human Resources and Emiratisation, and costs vary based on the type of visa and duration.
Q: What are the rules for hiring employees in Dubai?
A: Employers must comply with UAE labor laws, including employment contracts, salary payments, and employee benefits.
Q: What are the labor laws and employee benefits I need to provide?
A: Labor laws require companies to provide end-of-service benefits, annual leave, and medical insurance, among other rights.
Q: Are there any minimum salary or accommodation requirements?
A: Yes, there are minimum salary requirements based on job category and nationality, and employers must provide accommodation or housing allowances.
Q: What are the annual costs and procedures for renewing a business license?
A: Annual costs can include renewal fees, office lease costs, and visa renewals. The renewal process usually involves submitting documents to the relevant authorities.
Q: Are there any ongoing compliance requirements for my company?
A: Yes, companies must adhere to local regulations, including annual audits, tax filings, and maintaining updated records.
Q: How do I ensure my company remains in good standing with the authorities?
A: Regularly renew licenses, submit necessary reports, and comply with local laws to maintain good standing.
Q: Which Free Zone is most suitable for my business activities?
A: The choice depends on your business type and goals. Consult with a business setup advisor to find the best fit.
Q: What are the benefits of setting up in a Free Zone?
A: Benefits include 100% foreign ownership, tax exemptions, easy repatriation of profits, and simplified setup processes.
Q: Are there any restrictions on trading outside the Free Zone?
A: Yes, Free Zone companies can trade within the Free Zone and internationally but must use a local distributor to trade in the UAE Mainland.
Q: What is the process if I want to close my business in Dubai?
A: The closure process involves settling debts, canceling licenses, and deregistering the company with the relevant authorities.
Q: Are there any penalties or fees involved in shutting down a company?
A: Yes, there may be penalties for failing to comply with cancellation procedures or outstanding debts.
Q: What are the business opportunities in Dubai and the wider UAE region?
A: Dubai offers numerous opportunities in sectors such as tourism, trade, logistics, technology, and finance.
Q: Will setting up a company in Dubai allow me to trade in the rest of the GCC or internationally?
A: Yes, Dubai serves as a strategic hub for trade within the GCC and offers access to international markets.
PAN (Permanent Account Number) is an identification number assigned to all taxpayers in...
