What is company registration in Dubai?
Dubai is one such state where starting a business is a tedious task. However, Dubai which is the fastest growing emirate of UAE offers excellent options for trade and commerce for foreign investors. Dubai is one of the most developed markets in the world and it is well-known for its business friendly infrastructures and opportunities.
Setting up your business in the gulf countries and especially in Dubai can be quite a difficult task. There are lots of important factors you need to take care when you are starting a business in Dubai. Thus it is crucial to be very careful right from the beginning.
Types of companies that can be incorporated in Dubai:
In Dubai three types of companies can be incorporated
1. Free Zone Company
2. Off-shore Company
3. Onshore Company
Free Zone Company-
They are the companies which are 100% owned by the person who set it up. One does not need a sponsor or an agent to act as liaison to manage the venture. There is no restriction tying you down. The companies are governed by an independent Free Zone Authority (FZA) that is responsible for regulating the activities of companies and issuing operating licenses within the Free Zone.
The benefits of a Free Zone in Dubai include:
A Free Zone Company is expensive in comparison to an Offshore Company. However, it is like an onshore company with some of its characteristics like offshore company. A Free Zone company is ideal for market entry in Dubai because it will give you the physical presence in the UAE through office space and visas without the need for a local sponsor.
Offshore company incorporation in Dubai, one of the fastest growing investment hubs in the United Arab Emirates, is dream come true for foreign investors due to its uniqueness, overseas status, tax exemptions, liberal government laws and policies, and political and economic stability of the jurisdiction.There are no special requirements or limitations regarding the owner/shareholders of the company.
Other than these, there are multiple reasons why investors throng to setup offshore company in Dubai, these are:
The onshore company in U.A.E is a very beneficial entity. There are multiple benefits of onshore company registration with free zone registration. The onshore company in Dubai, U.A.E you will be entertained with the tax relaxation which is such a relief. For Onshore company registration in Dubai, there is an applied tax for individual stages. But the Onshore company registration in Dubai saves you from paying unnecessary taxes for your company. The Onshore company registration in Dubai ensures company’s resident status in Dubai, and converts the company into a local onshore company of Dubai and, that is, without any sort of tax consequences or legal implications.
The registration of an onshore company in Dubai provides many benefits to foreign investors. Among these benefits are:
For setting up a business in Dubai, these steps may be followed:
1. Submit the proposed company name and registration application to the Department of Economic Development (DED)
2. Get the company’s Memorandum of Association in notarized to the DED
3. File documents of the company with the DED to obtain a trade license from the Chamber of Commerce and Industry
4. Submit the application at the Ministry of Labour for Establishment Card
5. Get the native workers registered with the Ministry of Labour and General Authority for pension and social security