Entrepreneurs from all over the globe come to Dubai to start their businesses. Foreign investors and companies continue to go to the emirate in growing numbers year after year, drawn by the emirate’s favourable economic climate. How can foreigners start a business in Dubai?
In addition to offering a 0% corporate tax rate, a critical global position, and a straightforward formation process, Dubai now permits foreigners to control 100 percent of their company in the majority of circumstances. This is a recent development that has only recently become effective.
This, together with the provision of long-term visas, has helped to further solidify Dubai’s status as the ideal site for international business.
While it is not difficult, establishing a company in Dubai does need some local, professional expertise. Continue reading to learn more about how foreigners may start a business in Dubai.
Is it possible for a foreigner to establish a company in Dubai?
Is it possible for foreigners to establish a company in Dubai? Let us begin with the fundamentals. It is estimated that over 80% of the local population is made up of expatriates, many of whom own their enterprises.
Dubai aggressively encourages foreign investors and company owners to establish themselves in the city. The emirate is home to many company formation specialists and setup agents, which were found to assist international entrepreneurs in navigating the licencing, visa, and business incorporation requirements in the country. For example, one of the peculiarities of Dubai’s business creation method is how companies are named.
Consider the following options when naming your UAE company:
- It is not permitted to offend public morality or the public order of the nation.
- Must be followed by the firm’s legal form, for example, limited liability company (LLC, FZE, etc.)
- The applicant must not have been previously registered with the state.
- It must be consistent with the sort of activity and legal standing that are necessary.
- It should not include the names of any religion or governmental authority, nor should it contain the names or logos of any external organisations or organisations.
Using your real name in your business name rather than simply your surname or initials is required if you intend to incorporate your name in your company name. Your selected setup agent can assist you with each stage of the process and help you match your firm with one of the more than 2,000 legal business activities.
You may now proceed to the licencing procedure after taking care of the preliminary administrative tasks.
Therefore, it is always better to use the services of a business setup firm that can guide you how can foreigners start a business in Dubai through the process and choose the most appropriate licences and business setup types for your company, depending on your requirements and financial constraints.
