Being one of the top-notch capital cities to do business in, Dubai’s success is continuing to inspire people, making it one of the most preferred destinations to entrepreneurs. It is because of its strategic location, diversified and easily accessible market offering low logistics, world-class infrastructures, and operational cost, international businesses are thinking of starting their business wings in Dubai. Do you also dream the same?
Company registration Dubai is one of the primary steps to realizing your dream of setting up a business in this country.
Company registration in Dubai has different perks, and it includes
- There is not a capital gains tax in the UAE
- English is widely spoken in Dubai, making it easier for foreign investors to invest here
- Owners who have started up their business ventures in the UAE only need to pay income tax if they are in the foreign banking or oil and gas industry. Otherwise, corporations are exempt from taxation in the UAE
- There is no value-added tax or sales tax in the UAE
- The pain-in minimum capital requirement for owners choosing to incorporate in the UAE is AED 0. Therefore, there is not a capitalization requirement.
- The UAE has a growing economy that continues to expand. And it offers new business opportunities for corporations.
What kind of companies can you register in Dubai?
There are two types of companies that you can set up in Dubai Free Zones, namely –
Free Zone Company
It refers to a business that is 100% owned by the person who set it up. You don’t need a sponsor or an agent to act as a liaison who will manage the venture. And there is no restriction tying you down.
Dubai free zones benefits
- 100% ownership
- 0% tax
- Less Renewal Charges
- 100% Secrecy maintained
- Can be formed by only one individual
- Can be liquidated anytime
- Can hold Properties
- You can open a bank account in Dubai
- You can do international business
- Can do multiple activities
This type of company registration refers to a business operating outside its boundaries. For example, a business in Switzerland opens up a similar enterprise in UAE.
And the benefits are
- The offshore possibility has basically been set up to cater for businesses who need to have a regional “tax relief-invoicing-facility”. There is no minimum capital required and also no need to set up an actual office facility.
- The off-shore regulations have been issued according to new international standards. And companies will have to register a minimum of one director per company. Each company should hold annual general meetings and, in short, perform and act as a standard company.
- The company regulations have been made out in strict conformity with new anti-money laundering measurements.
Local companies allowed to deal with
- Legal consultants, management companies, accountants etc carrying on business within the UAE.
- Any bank in the UAE to conduct its routine operational transactions.
- In case an offshore company want to conduct trade or other business in the zone or elsewhere in the UAE, it should have an appropriate license to conduct the trade or other business activity from the competent authorities.
Although no minimum capital is required, a minimum of AED 10,000 is recommended to begin with.
Do you need assistance in trade name registration Dubai or are you looking for pro services? Whatever it may be, we, at Immersion Group DMCC is there to help you. Explore our website and hire us for any kinds of business set up services. We are always here to help you.