Can a foreigner start a company in Dubai

Dubai is undoubtedly a global business destination in its own right. The Emirate is an entrepreneur’s paradise, offering a lenient tax regime and first-rate infrastructure. The popularity of the Emirate is evident from the growing number of foreign investors and international businesses in recent years. It testifies that this emirate is a prime location for business expansion. The focus that Dubai gets globally is something unprecedented. 

The number of foreign enterprises and investors that visit the emirate every year is on the rise owing to the extraordinary economic climate they get. The government facilitates foreign ownership helping them to reside for an extended period until retirement. Hence, this is one example of a more recent development. 

The announcement of the long-term visa enables foreign nationals in myriad ways, especially to reside and work in the United Arab Emirates. With necessary assistance, non-residents can open a business in the United Arab Emirates and run it from anywhere.

Opening a business in Dubai as a foreigner- Your Probabilities

In Dubai, yes, a lot of foreigners open their businesses. Foreigners can go ahead with company registration in UAE. Most foreign residents—more than 80% are business owners—run their establishments.

Foreign investors and businesspeople get a warm welcome in Dubai. To help international business owners with license, visa, and business incorporation processes based in the emirate, the company formation experts and setup agents play a significant role.

Before you decide on launching a business in Dubai, you must consider a few things given below:

As a foreigner or non-resident before setting up a business in Dubai, it is critical to comprehend the workings of the emirate.

Why Dubai?

The city has become well-known worldwide as the Middle East’s economic centre. Due to its advantageous position, it has easy access to suppliers in the African subcontinent, Asia, and the Gulf. Additionally, foreigners from all over the world make up 90% of the city’s population.

Corporate structure

When launching a business in Dubai as a foreigner, you must be well-conversed with the existing corporate structure. Decide on the type of company you want to create. It is one of the first crucial decisions you make. Now, it will depend on several variables, such as the type of business you run, your business objectives, and its operational features, to name a few. Limited Liability Company and Sole Establishment are the two main corporate structure types to choose between.

Jurisdiction

Dubai has many free zones. You can open an establishment in one such economic zone. Or else you can consider functioning on the mainland. When foreigners consider opening a business in Dubai, they might be interested in knowing the distinctions between free zones and the mainland.

Mainland

You can conduct domestic and international trade while running a business in Dubai Mainland. A methodical approach helps in creating a firm. However, a Business License in Dubai can be obtained in a single day.

Free zones

Choosing to do business in a free zone makes sense for new firms. Now, each free zone is governed by a different set of authorities. Hence, it is significant to know that the guidelines and policies about enterprises and the timeframe for completing the necessary formalities may differ from one zone to another.

Types of Business license which Foreigners can apply in Dubai

There are four categories of business licenses issued by The Department of Economic Development (DED). Based on the business type you wish to conduct, you can select from the following

• Commercial License

• Professional License

• Industrial License 

• Tourism License

Starting a commercial venture as a non-resident in Dubai -Primary Steps to Follow

Establishing a business in Dubai is straightforward. The governmental authorities specify the pertinent rules and regulations. If you are a non-resident or foreigner looking to launch a business in Dubai, complying with the prevailing conditions is all you need to know.

Follow a few steps given below:

• Select the business type you want to run.

• Select a trading name.

• Get a license 

• Register your company

• Apply for a business visa.

Permission needed for foreigners to set up a business in Dubai

Certain companies operating in Dubai must obtain permits from different government departments. For example, food and safety business requires authorization from the municipality. It is necessary to start a restaurant in Dubai. To conduct any industrial activity, you must lease or rent factory space that is a minimum area.

Professional support

Still in doubt about how foreigners can start a company in Dubai? Speak to the experts at A&A Associate. With proven expertise in UAE company establishment, the knowledgeable legal and corporate consultants assist business owners in selecting an appropriate jurisdiction, thus guiding throughout in determining the company structure suitable to your business requirements.