Things To Consider When Starting A Business In Dubai Mainland
Before starting a business in Dubai mainland, you need to consider a few things and factors that are indispensable for any entrepreneur planning to start a new business in Dubai mainland.
Dubai’s position as a global center of trade and finance makes it an appealing choice for new entrepreneurs. However, before taking the plunge, it’s important to familiarize oneself with the specifics of establishing a company in Dubai.
Many considerations, like knowing which company structure to establish, local taxes, and rules surrounding foreign ownership rights, might affect the outcome of your business creation in Dubai Mainland. In this article, we will discuss the five most important factors to think about before founding a firm in Dubai Mainland.
Why Establish A Business In Dubai Mainland?
The United Arab Emirates (UAE) provides a safe political climate for business due to its reliable government and well-established legal system. In addition, people who take the initiative to establish a business in Dubai Mainland can take advantage of the country’s cheap or nonexistent taxes on corporations and individuals.
Things To Consider When Setting Up A Business In Dubai Mainland
Obtaining a License: The necessary license must be obtained before a business may be established in Dubai. Some firms may need additional permits or approval from other government authorities in addition to those already required by their legal structure and the nature of their operations.
Company Structure: Selecting a business structure is important since it will have consequences for things like taxation, ownership, and local representation. Limited Liability Companies (LLCs) and Branch Offices are two frequent organizational forms; they differ in the extent to which foreign investors are shielded from taxation and other legal requirements.
Business Strategy / Plan: When opening a business in Dubai Mainland, having a well-defined goals and a solid strategy in place is more important than ever. If you want to succeed in this endeavor, you need first decide what you hope to accomplish and then formulate a strategy that takes into account the economics of the enterprise.
Taxation: Taxation policies and procedures, such as corporate tax rates and other levies imposed by appropriate government organizations, vary depending on ownership structure and firm activity. Before committing to a course of action, you must have a thorough understanding of how this may effect your business operations.
Local Representative: Requirements for things like residency visas and opening UAE bank accounts can make it clear that you need a local representative on the ground there. You should factor in adequate legal representation as part of your strategy.
Dubai Mainland Business Setup FAQs
How much does it cost to start a business in Dubai mainland?
If you’re planning to start a business in Dubai mainland then getting a license for your business starts from approximately AED 16,999. Though the price always depends on various factors like: business activity, visa status change, extra permits, partners / shareholders in the company, government fees etc.
Can a non citizen start a business in Dubai?
Yes, if you’re not in the UAE and are a resident of any country all across the globe, you definitely can start a business in Dubai. According to Khaleej Times 2023, UAE’s population consists of more than 81% expatriate and majority of them owning their own business in Dubai.
Is it expensive to start a business in Dubai?
Dubai is rather famous and popular for low-cost business setup. If you see and analyze any other country all around the world, let it be Australia, UK, US, Canada, Germany, France, Italy or any other, the cost of starting a company in Dubai is anytime lowest than any other country globally.
In conclusion, if you plan carefully, establishing a company in Dubai Mainland can be extremely fruitful. Getting the most out of your business endeavor is possible if you take the time to research and fulfil all necessary steps in regards to licensing, company structure, business strategy / plan, taxation, and local representative.
At ReCorporate, we’re all about empowering budding business owners to realize their full potential. Contact our office right away if you need answers to any of your inquiries or additional information about launching a company in Dubai Mainland. We hope to hear from you soon!