1 / 11

Questions to Ask Before Setting Up a Business in Dubai

If you are willing to have business in Dubai but confused between Freezone and Mainland then you must take a look here. Business setup in Dubai Free Zone and Mainland are different from each other in many ways and have their own advantages and disadvantages.<br>

johnsmith747969
Download Presentation

Questions to Ask Before Setting Up a Business in Dubai

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Questions to Ask Before Setting Up a Business in Dubai OBK Business Centre

  2. A free zone is a demarcated and isolated zone with a special tax, customs and imports regime and is different from a mainland area. The primary difference between mainland and free zone is that Free Zone Company cannot operate in a non-free zone outside free zones without the support of a local agent, while a mainland company can freely operate from anywhere in UAE. Also, while free zones allow 100% ownership, a mainland company requires a UAE national as a local agent to get 51% of the company’s total share while the remaining 49% remains with the investor.  Both have their advantages and disadvantages. You must opt for the one that best suits your business needs.  Free Zones Vs. Mainland, Which one is Best?

  3. Do I need a Local Sponsor? If you plan to start your business in mainland Dubai, you will need a local sponsor. Also, if you have a business setup in Dubai Free Zone and want to do business outside the free zone, you will need a local sponsor. 

  4. Do I Need to Rent an Office? You will need to rent an office for almost all businesses because, according to UAE law, you cannot operate your business from home. 

  5. Minimum Budget and Investment required? The cost of setting up a company can vary. For example, both the free zone and mainland Dubai have different costs. The factors that affect the total cost includes - business activities, legal structure, jurisdictions, location, office space, number of employees and more. 

  6. Visa Requirements Visa requirements depend on what type of business you have opted for. First, determine whether you need a residency visa or not, or if you will need it later for you, your family or your employees. There is a type of company that does not provide a residence visa, and there is another type that offers an option for a residency visa. Also, be informed that these two types cannot be interchanged or converted from one to the other. Therefore, make sure you have chosen the right type right at the beginning.

  7. Know The Employment and Company Laws of UAE It is advised that you consult a business setup consultant to understand the employment and company laws of the UAE. They are aware of all the rules and regulations concerning company formation in the UAE. A business setup consultant can guide you in the right direction.  

  8. Document Required It depends on what type of legal structure, location, jurisdiction or business type you are planning to establish. Also, whether you are forming your company as an individual (natural person) or as a preexisting business (legal person), maybe in the case of starting a foreign branch. As a person, you have to offer copies of your passport and those of your companions, bills as proof of residence, and your business plans. As an organisation or legal person, you will have to provide a flurry of documents, including copies of the certificate of incorporation, and memorandum and articles of association of the parent company.  The structure of the business may also determine the necessary documents. Consult a business setup consult who will give you a list of all the documents you should provide.

  9. What is the Tax Policy of UAE? The United Arab Emirates has convenient taxation policies for both domestic and foreign investors and business owners. Let us try to understand how much favourable it is. The federal government of UAE does not levy taxes on the income of people and companies. However, businesses in the oil and gas industry are entitled to a 50-55 per cent tax rate, while banking institutions with subsidiaries or branches in UAE are entitled to a 20 per cent taxes rate. In addition, newly formed companies in UAE must pay a one-time fee for the registration of business owners, 10 per cent of annual and warehouse lease, and 5 per cent of annual wages paid to workers with their Emirate municipalities.

  10. Business setup consultants are professionals and aware of every easy and critical requirement associated with company formation. Moreover, since they work very closely with authorities, they are informed about all the new changes in law and other necessary business needs to set up a business in the UAE.  OBK Business Centre in Dubai (UAE) is one of the most reputable business setup consultants you can reach out to for any assistance you may need for company formation. Below you can find their contact details:  Is Hiring a Business Setup Consultant Necessary?

  11. Contact us  Level 20, 48 Burj Gate Tower Dubai, UAE, P.O. BOX 36615 dubai.burjgate@obkbc.com Mobile number: +971 (0) 52 640 2550 Contact number: +971 (0) 4 518 2555 Fax number: +971 (0) 4 518 2666

More Related