Starting a business in Dubai as a foreigner? Here’s all you need to know
Starting a business in a foreign land requires huge research and extensive groundwork to make a foundation that ensures high returns. The investors or entrepreneurs will be contemplating how to start in a foreign land that comes with a different set of rules and regulations to abide by. Also, the procedures are quite different from their home country.
Here are a few things to know before starting a business in Dubai as a foreigner
Why should you choose Dubai?
As we all know Dubai is the economic hub and no country presents the opportunity as UAE. Also, the easy connectivity to the suppliers in the Gulf makes it easier for businesses to grow. 90% of Dubai’s population comprises foreigners residing across the globe in the UAE. Dubai’s excellent architecture, tax-friendly policies, easy immigration process, secure living environment, and visionary leadership evolve with the changing times and tend to support technology and innovation which positively contributes to the betterment of the economy.
Know the corporate structure
One of the major decisions before starting a business in Dubai as a foreigner is focusing on the type of company you want which is directly influenced by the nature of the business, the purpose of the company, operational aspects, and the list goes on. In Dubai, there are two types of corporates structure that foreigners can choose from such as
01. Limited Liability Company
LLC is the corporate structure that allows multiple shareholders, a minimum of two, or a maximum of 50 to form the company. The most preferred corporate structure in Dubai that allows easy import and export and other trading activities without any hassle also allows easy processing of visa and immigration documents where FlyingColour Business Setup Services can help with business setup, immigration services, tax, accounting, and much more.
02. Sole Establishment
The sole establishment corporate structure represents the company should be completely owned and is operated by a single entity. It covers the professional sectors that involve consultancies, IT, and more.
Jurisdiction
The foreigners have the option to set up a business in mainland and free zones. Here is the brief on what these are and how one can operate here
Mainland
Operating a company on Dubai Mainland that allows you to trade the local markets as well as in the international markets also in the mainland one can acquire a business license within a day.
Free Zones
For new businesses, free zones are profitable and affordable. They provide global exposure with feasible rules and regulations. The most prominent free zones in Dubai are Jebel Ali Free Zone, Dubai Airport Free Zone, Dubai Media City, Dubai International Financial Center, and Dubai Multi Commodities Center. Each one of them operates on different rules and regulations; their business setup formalities vary from one another.
The entrepreneurs have to understand all the rules and regulations where they need help from the experts who can provide proper information related to business setup in Dubai. Flyingcolour® business setup in Dubai can help you with everything in Dubai from business setup to accounting also the business will be running its operation in less than the anticipated time.
