Dubai Company Setup: A Step-by-Step Guide to Start Your Business
Plans to start a business? Well, Dubai is at your service. The advantage of setting up a business in Dubai is enormous, and Dubai offers an incredibly rapid and efficient business formation service.
Even though it requires some profound understanding, you can get guidance at every step of the process.
Important Aspects to Consider Before Starting a Business
Before setting up the business, you must decide whether to operate in a free zone, offshore, or mainland company. Each has specifications according to your requirement.
Freezone Company Setup
If complete ownership of the company is what you seek, then setting up a business in the free zone is a better option. The other benefits available to a company forming in a free zone are 0% corporate tax, exemption from import and export duties, and an easy company registration process.
In the UAE and Dubai, unique rules and regulations pertain mainly to each free zone; respective authorities oversee these rules and regulations that control all the functions of the free zone area in Dubai. If you need more information, you can also check out Meydan Free Zone.
Steps Involved in a Company Formation in Free Zone
- Select your preferred legal territory
- Select the company structure
- Apply for business registration
- Get approval from relevant authorities
- Provide all the necessary documents
- License fee payment
There would be additional steps involved based on the specific free zone selected for incorporating a company. Golden Fortune can guide to in every stage of forming the company formation.
Some of the Advantages of Free Zone Company Set Up in Dubai are;
- Full foreign ownership of business
- No corporate tax
- No import and export tax
- Simple registration process
- Unrestricted profit transfer
Mainland Company Set up
Dubai mainland gives an opportunity to businesses within the local market. To start a company, registration of the same is necessary, for the Department Of Economic Development in Dubai is the mandatory authority through which the registration process should be done. The process would be accessible by approaching the best Business Setup Company in Dubai like Golden Fortune.
Steps Involved in a Company Mainland Company Formation in Dubai
- Determining the business activity
- Settling the company structure
- Approval of trade name
- Get initial license approval
- Gaining external approval(on if needed)
- Company’s bank account
Advantages of a Mainland Company Formation
- Flexibility to select any spot according to your requirement in Dubai.
- Mainland companies benefits from reasonable office spaces as they are not limited to specific location.
- Possible to enjoy tax free status.
- Customer reach across the globe
Offshore Company Formation
Dubai’s offshore financial centers are among the handful of tax havens that have not entered into any agreements to reveal the financial information of offshore customers to their respective countries of origin.
Registering an offshore company in Dubai affirms the credibility of your business, offering you effortless access to perform enterprises throughout the Middle East and anywhere outside UAE. Offshore Company Formation in Dubai, UAE is available in three principle jurisdictions.
- Jebel Ali Free Zone Authorities(JAFZA)
- Ras Al Khaimah(RK)
- Ajman Free Zone
RAK and JAFZA are tax free territories that provide 100% ownership. Offshore organizations can establish accounts in multiple currencies in the UAE for international business, but they won’t be able to conduct business operations with individuals who are residents of the UAE or even operate from a physical facility in the UAE.
Advantages of Setting Up an Offshore Company in Dubai
- Offer opportunities for entities to expand at international markets.
- Stable and access to support system.
- Regulatory system is adaptable
- Improved access global investment
The Formation of an Offshore Company Setup includes the Following Steps
- Select a company name.
- KYC documents
- There are additional documents to be submitted when one of the shareholders in your offshore company being corporate entity:Verified copy of certification of information, Copy of MOA,copy of registers of directors and members.
- Submit all the documents to the company registry.
Let Golden Fortune Help You
The setting of a Free zone, Mainland, or offshore company can be simple and uncomplicated if the preparation is thorough and understand the steps correctly.
Golden Fortune can help you at every stage of the company formation. We have accumulated experience and will be benefited at every stage of the process. Contact us for support and assistance. We will be there to assist you.
