|
|
|
|
The emirate of Dubai is strategically located in the heart of the Middle East, making it ideal for conducting business with people from all over the world. This, along with the country's cutting-edge infrastructure, makes it one of the world's most prominent business hubs.
Dubai's government policies are very pro-business, and it offers aid and support to new firms that are establishing themselves in the emirate. For business setup in Dubai, investors have got multiple choices to select from and let's take a look at those three choices.
Main land
In Dubai, mainland firms are regarded as the most established commercial entities. To begin conducting business on the mainland, you must first register with the Department of Economic Development (DED), which will grant you a Dubai business license. An onshore firm licensed by the Department of Economic Development is referred to as a mainland company. Companies registered on the UAE mainland are free to do business in both the local and international markets.
THE BENEFITS OF FORMING A COMPANY IN THE DUBAI MAINLAND
- Corporate tax exemption
- 100% full ownership
- Tax free and annual audit is not mandatory
- The Legal requirements for obtaining a license and registration are simple
- Employment Visas are readily available
- Operation of your business from anywhere in the UAE
- Capital and profits can be repatriated in their entirety
- For mainland businesses in Dubai, there are no currency limitations
For business setup in the mainland of Dubai, DED provides three types of licenses
- Commercial licenses are required for any type of trading business
- Professional licenses for craftsmen, physicians, professors and artisans
- Industrial licenses are required for industrial or manufacturing business
The UAE government is vast, with contracts and projects totaling billions of dollars. As a result, if the authorities recognize your mainland company establishment, you will benefit from long-term commercial success and profit production.
Free Zones
Free zones are certain regions with their own tax, customs, and import regimes, as well as their own set of rules. The country's free zones are without a doubt the most important foundation of the UAE's thriving economy. There are more than 30 free zones in Dubai alone, which contribute considerably to the city's economy. For legal purposes, companies operating in the free zones are considered to be outside the UAE.
In a free zone, you can set up two types of companies;
- Free Zone Establishment (FZE)
FZE is a limited liability business with only one stakeholder.
- Free Zone Limited Liability Company (FZ LLC)
FZLLC is a limited liability company with multiple shareholders (maximum of 5).
Each free zone is governed by an autonomous free zone authority, which is in charge of awarding free zone operating permits and aiding firms with setting up business in the zones. The laws and regulations of the free zone in which a company is created regulate a free zone company. The following are some of the most significant advantages of starting your business in a free zone:
- Foreign ownership is 100%
- 100% direct tax free
- Profits and capital are repatriated in their entirety
- There are no corporation taxes, withholding taxes, or inheritance taxes
- There are no personal income taxes and monetary limitations
- Qualified and skilled employees are readily available
- Efficient recruitment procedures
- Top notch infrastructure
- Administrative assistance at a high level
- State of the art communication network
The kind of commercial activity you want to do will have a significant impact on the Free Zone that best meets your needs. The following are the main Free Zones and their licensed activities:
Dubai Multi Commodities Centre (DMCC) - Commodity Exchanges & Trade
Jebel Ali Free Zone (JAFZA) - Trading, general trading, service, logistics
Dubai International Financial Centre (DIFC) - Banking, financial services, and legal services
Dubai Media City (DMC) - Activities related to the media
Dubai Healthcare City (DHCC) - Medical education, research and healthcare
Ras Al-Khaimah (RAK) - Industrial, general trading and educational
Offshore
An offshore company is a legal entity that works outside of its registered jurisdiction in order to lawfully reduce tax payments. Offshore firms are businesses that are registered in Dubai but have their headquarters outside of the city limits. For creating an offshore firm in Dubai, limited liability corporations, limited companies, and limited partnerships are all viable choices. There are a number of benefits for a Dubai offshore company, including
- Exemption from corporate tax
- Facilitation of multicurrency bank accounts which facilitates trade relations
- Maintains confidentiality by not disclosing information about the company's owners
- 100% foreign ownership for investors
- Exemption from annual accounting and tax responsibilities
- Access to a legal system that is both reliable and business-friendly
With a decade of experience, JUMEIRA CONSULTANTS ensures that our clients obtain exceptional business formation services. We provide unwavering assistance to our clients, ensuring a long-term connection. In addition to company consultation and set up, we assist in the acquisition of tax residency certificates and trade permits.
It is not simple to start a business. To carry it out, appropriate planning, data collecting, market research, and business analysis are required. We, at Jumeira consultants, have all of the newest resources and knowledge in this sector to provide you the finest advice and assist you in putting up a seamless and trouble-free business setup. We also assist you in legally and safely establishing a business.
|
|
