A highly favorable tax climate and business-friendly regulatory environment make UAE the leading business hub in the Middle East.
DIFFERENT TYPES OF COMPANY FORMATIONS IN UAE
There are three types of business jurisdictions in the UAE, mainland, offshore and free zone.
Mainland Company is also called an onshore company licensed by the Department of Economic Development. Mainland Company is allowed to conduct business in the local market as well as outside UAE without restriction.
An Offshore Company is the best option to conduct international businesses. It is preferred to set up the offshore company as a holding company since owners can hold intellectual property rights like patents, copyright, trademark, properties, etc.
Free Zone Companies are highly favorable because of incentives like 100 percent ownership, exemption of taxes, cost-effective, custom privileges, and re-export tax benefits.
MAJOR FREE ZONES IN DUBAI
There are more than 30 Free Zones operating in Dubai of which the major ones include the following:
JEBEL ALI FREE ZONE: The Jebel Ali Free Zone (Jafza) is a community and ecosystem where industries such as logistics, e-commerce, petrochemicals, and 14 other industries thrive.
DUBAI SOUTH: Dubai South free zone formerly known as The Dubai World Central (DWC), is an impressive 140-square-kilometer brainchild of the government of Dubai meant to serve as a pivotal business zone that will lead in areas such as global trade and aviation.
DIFC: Dubai International Financial Centre is an economic zone in Dubai and a financial hub for the Middle East, Africa, and South Asia (MEASA) markets. The district houses hundreds of financial institutions, including wealth funds and private investors, and multinationals.
DUBAI MEDIA CITY: Dubai Media City (DMC), part of Dubai Holding, is a tax-free zone within Dubai, United Arab Emirates. It is a regional hub for media organizations including news agencies, publishing, online media, advertising, production, and broadcast facilities.
DMCC: Dubai Multi Commodities Centre offers a unique opportunity for market participants in a wide range of commodities industries in four broad sectors including precious commodities (gold, diamonds, colored stones, and pearls), energy-related sectors, steel and base metals, and soft agricultural commodities (tea, cotton, and others).
DHCC: Through strategic partnerships, DHCC provides a wide range of services in healthcare, medical education and research, pharmaceuticals, medical equipment, wellness, and allied support.
UAE GOLDEN VISA AND BENEFITS
The UAE’s ‘Golden visa’ is a long-term residency visa that enables foreign talents to live and work or study in the UAE while enjoying exclusive benefits which include: an entry visa for six months with multiple entries to proceed with residence issuance, a long-term renewable residence visa valid for 10 years.
FEATURES OF GOLDEN VISA IN DUBAI – UAE
10 years of renewable residence visa.
No sponsor or employer is required.
The limitation period to stay outside the UAE does not apply for the visa holders;
ie, the visa is not canceled if the holder stays outside the country for more than six months.
The residence visa is granted to family members of visa holders, including spouse and children with no age limit.
There is no maximum limit to applying for domestic workers’ visas/work permits.
TYPES OF LICENSES IN DUBAI
The three major types of licenses in the UAE are
1. Commercial License for trading businesses
2. Industrial License for manufacturing goods
3. Professional License for service-related businesses
HOW TO OBTAIN A TRADE LICENSE IN UAE
Choosing a Business Activity
Choosing a Trade Name
Filling an Application Form
Getting External Approvals (not applicable for all activities)
Gathering Documents Required
Choosing a Location
Submitting final Application
Obtain the license
COST OF STARTING A BUSINESS IN UAE
The cost varies depending on the company’s operations. We can set up a company in a couple of working days with all relevant documents in hand. NEX as a leading business consultant in Dubai can help you find cost-effective solutions for your business. Contact our business setup advisors for an actual cost of an LLC business setup in Dubai.
HOW NEX CONSULTANTS CAN SUPPORT YOU
Nex Consultants is a leading consultancy in UAE that provide expertise and strategic advice for any business setup. We can help you create a business strategy, manage organizational and operational processes, or provide technology consulting services. Throughout, we determine the infrastructure and operating requirements, quantify your costs and benefits, assess key risks, and recommend contingencies necessary to support informed decision-making.