Business setup in UAE

Dubai is today a successful business hub for many countries, whether it is in the export or import business. With a GDP of 421 billion dollars, Dubai's economy is the fourth largest in the Middle East, making it the most attractive location for business setup in UAE. The UAE government is focused on developing a robust infrastructure and creating an environment that is conducive to corporate growth. It will make it easier for new enterprises to Business setup in Dubai and reach out to the rest of the globe thanks to the Free Zone.

The UAE has a unique business culture.

The UAE government is laying the groundwork for foreign investment by providing new opportunities for businesses, with the goal of making the UAE a thriving economic hub. To clear the way for investment, the rules and procedures governing foreign ownership must be simplified, and investors must be granted long-term visas.

Of 2019, the UAE stated that foreign ownership of 100 percent in 122 economic activities across 13 sectors, including logistics, renewable energy, hospitality, manufacturing, and food services, will be permitted. In addition, each Emirate is able to set its own limits.

Is it Possible for Anyone to Start a Business in the United Arab Emirates?

Almost anyone may start a business in the UAE because the government provides numerous incentives for doing so.

The UAE's Free Zones, which are distinct places for international investors, are the ideal reason to launch a business there. Free Zones have zero corporate and personal taxes, as well as 100 percent foreign ownership and tax exemptions on imports and exports.

Except for sole proprietorships, the only need for launching a business in the UAE is to have an Emirati partner who owns 51 percent of the company.

The Steps to Starting a Business in the United Arab Emirates

• The first step entails selecting a business based on a thorough examination of the activity's profitability and feasibility.
• Based on your business needs, choose from Mainland, Free Zone, and Offshore jurisdictions or economic zones.
• When beginning a business in Dubai, it's critical to choose the correct legal structure for your company.
• DED's approval processes for your company name and business activities will be followed (Department of Economic Development).
• Once you've received approval, you'll need to submit all of the required paperwork to apply for a trade licence and company registration in your economic zone at the same time.
• Approach one of the many banks in the UAE, learn about their policies, and open a business account.
• As the final step in establishing a business in the UAE, apply for Visa processing depending on your economic zone.

If you believe you require assistance in establishing your business in Sharjah or anywhere in the UAE, please visit our website and get in touch with us. Our professionals will walk you through the necessary steps, making it simple to get your business up and running in the UAE.