The UAE government provides foreign business owners with a number of advantages to register their company in Dubai. The number of businesses in Dubai has increased as a result of the inflow of investments. With no taxes and a world-class infrastructure, the city’s economy is booming, and business registration Dubai is at an all-time high. Even if there are some limitations for foreign investors, starting a business is still quite straightforward.
Due to its favorable tax environment, trading opportunities, accessibility to financial and natural resources, and skilled workforce, Dubai is a great place to start a business. Thanks to its central location and proximity to nations in the Middle East, Asia, Eastern Europe, and Africa, you may be able to reach more than 1 billion potential customers.
A huge amount of research and preparation must go into registering a business in a foreign country. Are you wondering how to form a company in Dubai? How much does it cost to register a corporation in Dubai? We’ve got you covered, so don’t worry. Here is detailed information on how to register a non-resident business in Dubai.
Can a Foreigner Start a Business in Dubai?
es! In Dubai, starting a business is simple for foreigners. There may, however, be some guidelines and limitations that you need to be aware of. You can get assistance from a knowledgeable business consultant in Dubai, like Avyanco, to help you through the procedure and successfully handle everything.
Complete foreign ownership results in the establishment of businesses in Dubai that boost the national economy. A foreign national may own their innovation if they have ownership. Dubai serves as a hub for startups and entrepreneurs from around the world, which boosts the local economy and increases the number of foreigners who start businesses there.
The creation of a freezone that makes it easier for new businesses to turn a profit is the main factor driving the surge in international business establishment in Dubai. Without a joint venture with a UAE local sponsor, the UAE government permits international investors to own local businesses.
The UAE now permits foreign nationals to acquire 100% of a corporation under the new regulations. Due to the vast opportunities provided by trade, finance, commerce, and the low tax environment, Dubai has been acknowledged as the most prominent financial centre by foreign investors. The new rule on corporate ownership allows foreigners to hold 100% of the company, increasing foreign direct investment in Dubai.
Types of Business Licenses in the UAE for Foreigners
Depending on the type of business they plan to run and the location (the mainland or a free zone), foreigners can apply for different kinds of business licenses in the UAE. Each license is geared to particular operations and enables the company to conduct legal business within the nation. In the United Arab Emirates, foreigners can obtain the following typical business licenses:
Commercial License: This license is intended for companies who acquire and sell items. The license holder is permitted to import, export, distribute, and store goods within the UAE market. It covers a wide range of trading activities.
Professional License: Holders of this license must offer a variety of professional services, including consulting, legal, engineering, and accounting. Depending on the applicant’s credentials and experience, a license may be granted.
Industrial License: Companies engaged in manufacturing or other industrial operations are eligible for this license. It enables the business to manufacture, put together, or process goods inside the UAE.
Travel agencies, tour companies, and hotels are just a few examples of companies that need a tourism license in order to legally operate.
A media license is required for businesses engaged in media-related activities, such as publishing, advertising, broadcasting, and producing.
Healthcare License: In order to legally function, healthcare facilities, hospitals, and other enterprises involved in the healthcare industry must get a healthcare license.
Education License: Institutions offering educational services, such as schools, training facilities, and universities, are obliged to have this license.
E-commerce License: This license is only available to companies who conduct e-commerce and online trading.
Freelance License: Some free zones provide freelancer licenses for independent professionals or freelancers, enabling them to conduct business as independent contractors.
Documents needed to open a company in the UAE as a non-resident
As a non-resident looking to open a company in the UAE, the specific documents and requirements may vary depending on the type of company (mainland or free zone) you wish to establish and the activities you intend to conduct. However, here is a general list of documents that are typically required:
Passport Copies: Copies of the passports of all shareholders and directors of the company.
Proof of Address: A recent utility bill or bank statement that verifies the residential address of shareholders and directors.
Business Plan: A detailed business plan outlining the nature of the business, its objectives, financial projections, and operational strategy.
Company Name: Proposed names for the company in order of preference, as well as alternate options. The chosen name must comply with the UAE’s naming regulations.
Shareholder/Director Information: Information about shareholders and directors, including their full names, addresses, nationalities, and shareholding percentages.
Memorandum of Association (MOA): The MOA is a legal document that outlines the company’s activities, shareholding structure, and other important details. It needs to be drafted and notarized.
Articles of Association (AOA): The AOA specifies the internal regulations and governance structure of the company. It also needs to be drafted and notarized.
Board Resolution: If the shareholder or director is representing a corporate entity, a board resolution authorizing the individual to act on behalf of the company is required.
Power of Attorney (POA): If you won’t be personally present during the company setup process, a POA issued to a representative authorizing them to act on your behalf is necessary.
Bank Reference Letter: A reference letter from your bank confirming your account and good standing.
No Objection Certificate (NOC): If you are transferring from another company within the UAE, you may need an NOC from your current employer stating they have no objection to your new venture.
Lease Agreement: For mainland companies, a tenancy contract or lease agreement for a physical office space is typically required.
Why Choose Ampsy Consultancy for Your Company Registration
Foreigner company registration in Dubai is a difficult process that calls for professional advice. By enlisting the help of a business setup consultant with extensive understanding of legal formalities and procedures, any foreigner can grow or establish a business in Dubai. To acquire the greatest and most effective business solutions, start your business with Ampsy. Utilizing our company setup consultants in Dubai will simplify the procedure for you.
Team Ampsy considers every little aspect of the procedure and helps you all the way through it. Our goal is to make the process of setting up your business in Dubai hassle-free. So why keep waiting?
Contact us right now!
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