Dubai has a much-deserved reputation as the home of big\nbusiness. The emirate is the ideal place for large international businesses to\ntrade \u2013 boasting an enviable location, welcoming business regulation and a low\ntax environment. That\u2019s why many of the world\u2019s largest companies have offices\nhere, including Coca Cola, Google and Facebook.<\/p>\n\n\n\n
But this big business picture doesn\u2019t tell the full story of\nDubai and the wider UAE. The emirate is also home to a host of startups and\nSMEs that contribute a significant amount to the economy \u2013 many of which\nstarted with little capital.<\/p>\n\n\n\n
Low cost business setup in Dubai is not just possible, it\u2019s\nincredibly easy. Provided you work with an expert who understands the process\nof establishing a business here, there\u2019s no reason why you can\u2019t keep the cost\nof business setup in Dubai low.<\/p>\n\n\n\n
How to start a business in Dubai?<\/strong><\/p>\n\n\n\n If you\u2019re looking to start a business in Dubai but wish to\nkeep costs down, the best advice is to set up in one of the emirate\u2019s free\nzones.<\/p>\n\n\n\n There are zones that cater to all sectors, some\nindustry-specific and others that welcome businesses from all fields. If you\nwish to take an even more cost-effective approach, you may wish to consider\nlooking further afield.<\/p>\n\n\n\n Other emirates such as Fujairah are also home to free zones\nthat offer the same advantages as those in Dubai but often with lower startup\nand ongoing costs. Those advantages include 100% customs tax exemption, as well\nas the ability to repatriate all capital and profits and no currency\nrestrictions.<\/p>\n\n\n\n Can I start a business in a Dubai free zone?<\/strong><\/p>\n\n\n\n Absolutely. Free zones are very welcoming to both local and\ninternational entrepreneurs. With the right support, it\u2019s easy to start your\nbusiness in Dubai, Fujairah or any of the emirates. The process consists of\njust five simple steps:<\/p>\n\n\n\n Step 1: Decide your business activities<\/strong><\/p>\n\n\n\n The first step is an important one. You must clearly outline\nyour business activities. There are thousands of potential activities to choose\nfrom and it\u2019s vital that you list any you intend to carry out on your license\napplication.<\/p>\n\n\n\n Failure to specify every one of your intended activities\ncould lead to issues further down the line. For this reason, it is advisable to\nwork with a company formation expert when making this decision. Such experts\nare familiar with permitted activities and will be able to suggest those that\nalign best with your business.<\/p>\n\n\n\n Step 2: Choose a company name<\/strong><\/p>\n\n\n\n Next, you must name your business. There a few things to\nkeep in mind when naming a business in the UAE. Here you must abide by a\nstrict, yet easy to follow, set of naming conventions.<\/p>\n\n\n\n In short, you should avoid any offensive or blasphemous\nlanguage. Avoid names of well-known organisations and avoid abbreviations if\nnaming your company after yourself \u2013 i.e. Dave Mann Consulting, rather than D\nMann Consulting. You must also check that your chosen name is available to\nregister.<\/p>\n\n\n\n Step 3: Applying for your business license<\/strong><\/p>\n\n\n\n Here is perhaps the most important step of all \u2013 applying\nfor your business license.<\/p>\n\n\n\n With the right support, this is a straightforward process.\nSimply apply directly to the relevant governing authority of the free zone you\nin which you wish to establish your business.<\/p>\n\n\n\n Free zone licenses can often be granted in a matter of days\ndepending on the nature of your business and the license required. To ensure a\nsmooth process, it is once again a good idea to instruct the services of a\ncompany formation specialist at this stage.<\/p>\n\n\n\n Whether making your application yourself, or through a\ncompany formation agent, you are usually only required to provide a few details\nand some basic documentation, including:<\/p>\n\n\n\n Step 4: Apply for your visa<\/strong><\/p>\n\n\n\n You\u2019ll also need a visa to be able to work in the UAE. The\nvisa application process \u2013 for you and your employees \u2013 is particular, yet\nstraightforward. Again, an expert in UAE company formation can help you with\nthis step.<\/p>\n\n\n\n As the holder of a UAE business license, you can also\nsponsor others for their visas too. This could be a spouse, parent or child, or\na domestic worker such as a housekeeper.<\/p>\n\n\n\n The maximum number of visas you can apply for will depend on\nthe size of your company, your chosen setup and, for dependant visas, your\npersonal earnings.<\/p>\n\n\n\n Step 5: Opening a corporate bank account<\/strong><\/p>\n\n\n\n The last thing needed to trade in the UAE is a corporate\nbank account. Unfortunately, the UAE\u2019s strict money laundering regulations can\nmake it difficult for overseas entrepreneurs to access corporate banking\nfacilities. Working with an expert in the field makes for a much smoother\nprocess.<\/p>\n\n\n\n Company formation experts have great links to both local and\ninternational banks and can easily put you in touch with the one best suited to\nyour needs \u2013 even arranging face to face meetings if necessary.<\/p>\n\n\n\n Cost of business setup in Dubai<\/strong><\/p>\n\n\n\n As we have previously touched upon, low cost business setup\nin Dubai is entirely possible. If you\u2019re really looking to keep a handle on\ncosts, however, it may be worth looking to neighboring emirates.<\/p>\n\n\n\n Fujairah Creative City, for example, offers a range of\naffordable license packages with no paid-up share capital requirement, no\nannual audit and an easy incorporation process. There is also no need to be\npresent in the UAE to establish your new company.<\/p>\n\n\n\n A license package in Fujairah Creative City, inclusive of one visa application and use of the free zone\u2019s co-working facility costs just AED 24,775.<\/p>\n\n\n\n Source: businessincorporationzone<\/p>\n","protected":false},"excerpt":{"rendered":" Dubai has a much-deserved reputation as the home of big business. The emirate is the ideal place for large international businesses to trade \u2013 boasting an enviable location, welcoming business regulation and a low tax environment. That\u2019s why many of the world\u2019s largest companies have offices here, including Coca Cola, Google and Facebook. But this big business picture doesn\u2019t tell the full story of Dubai and the wider UAE. The emirate is also home to a host of startups and SMEs that contribute a significant amount to the economy \u2013 many of which started with little capital. Low cost business […]<\/p>\n