26/12/2023
Dubai is a great place to do business, as it offers many benefits such as low taxes, 100% foreign ownership, and access to a large and diverse market. π
There are two main ways to set up a business in Dubai: in the mainland or in a free zone. Each option has its own advantages and disadvantages, depending on your business activity, legal form, and trade requirements. π’
If you choose to set up in the mainland, you will need to follow these steps 1:
Identify your business activity and select an appropriate legal form Register your trade name and apply for an initial approval Draft a Memorandum of Association and a local service agent agreement Select a business location and get additional government approvals Submit your documents and pay the fees If you choose to set up in a free zone, you will enjoy more flexibility and incentives, such as 100% ownership, no corporate tax, and no import/export duties. However, you will not be able to trade directly with the local market, unless you use a local distributor. π
There are over 30 free zones in Dubai, each catering to a specific industry or sector. Some of the most popular ones are:
Dubai Multi Commodities Centre (DMCC) for commodities trading and services
Dubai International Financial Centre (DIFC) for banking and finance
Dubai Airport Freezone (DAFZA) for aviation, logistics, and e-commerce
Dubai Design District (D3) for fashion, design, and art
Dubai Internet City (DIC) for information and communication technology
To set up in a free zone, you will need to:
Choose a free zone that suits your business activity and objectives
Select a legal form and a trade name
Apply for a licence and a visa
Rent an office space or a desk
Pay the fees and start your operations
I hope this information was helpful for you. If you need more details, you can check
out these websites 45 for more guidance and resources on how to start a new business in Dubai. Good luck with your venture! π
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