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Due to Dubai's world-class infrastructure and business-friendly environment, opening a company in Dubai is the dream of many entrepreneurs. If you’re an entrepreneur who wants to know how to open a company in Dubai, read our blog post!
According to the World Bank, the United Arab Emirates (UAE) is ranked 16th among 190 countries in terms of ease of doing business. This makes Dubai an attractive location for opening a company.
Dubai offers various tax incentives for businesses. It has a low corporate tax rate of 9%, and no tax is imposed on personal income.
Another significant advantage of opening a business in Dubai lies in the fact that it provides access to a large and diverse consumer market.
Due to the strategic geographical location of Dubai, it serves as a gateway to the MENA region consisting of the Middle East and North Africa. This makes Dubai the perfect choice for companies that want to expand their reach and enter new markets in future.
It is interesting to note that there are not one but three types of company registration in Dubai. Each type of company registration comes with its unique features.
Now, let’s discuss these three types of company registration in Dubai:
A mainland company (or an onshore company) refers to a business entity that is registered with the Department of Economic Development of the Emirate of Dubai.
You can choose to apply for mainland company registration in Dubai if you want direct access to the whole market of UAE and would like to trade with local businesses and consumers easily.
By obtaining mainland company registration, you can get greater flexibility when it comes to selecting the activities for your business as compared to free zone company registration. Additionally, you can benefit from government grants and subsidies if you have chosen mainland company registration, depending on the industry in which your business falls.
A free zone company registration is granted for a company that is registered in any free trade zone in the UAE. Many entrepreneurs choose free zone company registration as free zones offer incentives, tax exemptions and 100% foreign ownership.
There are several free zones in Dubai such as Jebel Ali Freezone, Dubai Multi Commodities Centre, Dubai Airport Freezone and International Freezone Authority. You can take all the profits home by opting for free zone company registration for your business.
An offshore company refers to a legal business entity that is registered in a jurisdiction which lies outside the country where its beneficiaries reside. Offshore companies in Dubai are established in designated free zones called offshore jurisdictions.
Having an offshore company registration helps company owners to protect their personal assets from business liabilities. There is a complete tax exemption from corporate and income tax for offshore companies.
Additionally, having an offshore company in an offshore jurisdiction ensures a high degree of privacy and complete confidentiality for the company’s owner. The foreign owner gets 100% ownership of an offshore company.
If you’ve made up your mind about opening a company in Dubai, it is time for you to prepare a set of these crucial documents:
Opening a company in Dubai consists of several vital steps. Let’s check out all the steps involved in the Dubai company registration process.
For a business setup in Dubai, it is important to select the business activities you want your company to undertake. Approx. 2000 activities are permitted by the Department of Economic Development. According to the business activities, you will be required to apply for the relevant business licenses and certificates.
Once you have decided on the business activities, it is essential to select the business model for your company. You can choose from an offshore company, free zone company or mainland company, depending on your business goals, capital requirements, etc.
You must pick a name for your company. Make sure it is unique in nature and does not contain any offensive words or any reference to Allah or Islam. If you want to check whether the name you have in your mind for your company already exists or not, you can do a trademark search.
After you are through with the above-mentioned steps, it is time to file your application for company registration in Dubai. The company registration depends on the type of business model that you have selected, i.e., offshore, free zone, or mainland company. For Freezone company registration, you must file your application directly to the Freezone of your choice. If you want to opt for mainland company registration, you must file your application to the Department of Economic Development.
After you are done with the company registration process, you must open a business bank account so that you can receive payments for your company or make payments from your company’s end.
The cost of opening a company in Dubai largely depends on the business model, office space, business operations and activities of the company. For each type of business, different licenses and approvals are required from relevant authorities. All these licenses and approvals come with different fee structures.
To get an estimate of the cost of opening a company in Dubai, we recommend that you consult with the company registration consultants at Registrationwala.
In this article, we discussed the steps involved in opening a company in Dubai. Dubai is one of the most highly sought-after cities for entrepreneurs due to the tax benefits, subsidies, and other benefits this city offers. If you want to start your own company in Dubai, you can consult with our company registration consultants at Registrationwala, who’ll guide you through the entire Dubai company registration process and help you file all the relevant applications and licenses.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
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