6 Facts Vs.Myths Regarding Setting Up A Business In Dubai

2. 6 FACTS VS.MYTHS REGARDING SETTING UP A BUSINESS IN DUBAI The UAE and Dubai are known as a vast business hub for many industries like trade, logistics, banking, tourism, real estate, and manufacturing, and deliver amazing opportunities. To get benefits, many entrepreneurs choose Dubai to establish new businesses. So we can surely say that Dubai is home to countless companies and startups. So if you are thinking of setting up a business a new enterprise in Dubai, then it is vital to know some facts about start business in Dubai. Because many myths exist about new business setup and running any company in this dynamic city. To clear out these myths, Future Dream, having years of experience, delivers complete information related to these myths. Continue reading to debunk myths and uncover facts about Business Setup In Dubai, putting an end to any confusion once and for all.

3. MYTHS ABOUT BUSINESS IN DUBAI • MYTH THE COST OF DOING BUSINESS IN THE UAE IS HIGH- Fact- Business entrepreneurs can establish a company that they want all over the world with a certain amount of funding. Business formation costs vary from one country to another. However, launching a business in Dubai is more cost-effective compared to many European countries. In other countries, you need to pay many taxes like prominent jurisdictions, capital gains tax, dividend tax, etc. But if you settle a business in Dubai then you are not required to pay these taxes. Yet, In the UAE, a 9% corporate tax was put in effect beginning June 2023. So it is clear that establishing a business in Dubai is lower compared to other countries.

4. MYTH YOU NEED TO PARTNER WITH A LOCAL UAE NATIONAL TO DO BUSINESS IN THE UAE- Fact- About the procedure of setting up a business in Dubai, this is one of the biggest myths. In Dubai, Free Zone and Mainland both allow 100% foreign ownership and do not need a citizen of the UAE to work as a local sponsor, become a shareholder, partake in the operation, or invest in your UAE company. Foreign investors now have the opportunity to fully own and manage a mainland corporation, subject to specific commercial license activities. For instance, Mainland Dubai allowed Real Estate brokerage firms to set up with 100% foreign ownership. While certain business activities in mainland UAE may necessitate a local sponsor, our team of expert consultants stands ready to assist you in navigating this process or exploring alternative options.

5. MYTH REGISTERING A COMPANY IN THE DUBAI TAKES TIME- Fact- In Dubai and UAE, establishing an enterprise should be fast and does not take a long time, with the help of any registered corporate service provider like Future Dream that will ensure you have all the crucial documents in place, choose the right structure and is an expert to seamless navigate the whole procedure, so you can focus on working on your enterprise. In the UAE, many licensing authorities issue a company license within one week. If additional governmental clearances are necessary for your company’s business activity or premises, this may extend the company formation process by days or even weeks.

6. Myth Female Entrepreneurs Find Dubai Unfriendly- Fact- In Dubai, the environment for female entrepreneurs is very safe and supportive. In the Middle East, Dubai becoming one of the most active business hubs for women looking to secure investment and establish their own business in Dubai, women can work as leaders and gain success in doing enterprise, because of the safe and supportive environment of Dubai. We can transparently see evidence of the commitment and dedication of Dubai toward gender equality. It is also a prime reason why you should select Dubai over any other country to setting up a business as a foreign investor. • Myth The Laws are Strict • The laws are strict in Dubai? Yes, this is correct. In the UAE, the laws are somewhat tough to follow. Especially for the new entrepreneurs. But these strict laws are conducted to ensure people doing their enterprise in the best possible way, creating a victory situation for the enterprise owners

7. Myth Having an Offshore Business is illegal • Fact- In Dubai, anyone can have an offshore business. Also, offshore firms are expanding with time. Offshore banking has historically been associated with criminal activities such as tax evasion and money laundering. In the UAE, Offshore business operations are considered a smart move because now all entrepreneurs can handle operations remotely and gain amazing tax advantages. • So these are prime myths about setting up a business in Dubai. The city presents an exhilarating opportunity for entrepreneurs and businesses alike. With useful planning, you can smoothly set up business here and take benefit of all this amazing city delivers. As an established company in Dubai, we at Future Dream, have vast experience and assist businesses set up and conducted successfully in the UAE.

8. CONTACT US +971 524093924 • futuredream.ae • info@futuredream.ae • Office 401, 4th floor, Addidas Outlet Store, Bank Street Road Burjuman, Dubai, UAE