Question 1

Which city in the UAE is best for registering a business?

Accepted Answer

Dubai is the most popular city in the UAE for foreign investors as it is home to the majority of free zones in various industries and offers limitless opportunities. But it all depends on the investor's goals, the company’s type of activity, and the economic zone itself, of which the UAE has more than 50. Certain areas have specialized zones. Dubai Internet City, for example, is suitable for the IT sector, while Dubai Media City is suitable for media as well as culture and art. There are zones without a specific specialization, which work for a different number of trading companies such as the service sector and trade in non-specialized goods; these include DMCC and JAFZA in Dubai.

Question 2

What does it cost to start a business in the UAE?

Accepted Answer

The cost of registering a company, obtaining a license for a specific type of activity, forming an authorized capital, and, if necessary, renting an office are all part of starting a business cost in the UAE. It is important to note that the cost of establishing a business will vary widely. Following your request, our specialists will assist you in determining the best form of entrepreneurial activity and type and prepare the necessary solutions.

Question 3

Can I be a 100% business owner?

Accepted Answer

Non-residents can be 100% owners of their businesses in the UAE, with full asset return. This rule does not only apply to joint-stock companies owned by UAE residents. If you acquire 100% ownership of the company, you retain all management rights and opportunities related to your business.

Question 4

What taxes apply in the UAE?

Accepted Answer

For entrepreneurs in the banking sector as well as the oil and oil refining industries, there are special taxes. For other lines of business - 0% personal, corporate and income tax. This means 0% on profits and 0% on capital gains for 50 years, but keep in mind that the company must pay 5% VAT, which applies to all areas and branches of the business. For more detailed information, our tax specialists will conduct a personal consultation on all issues of interest to you.

Question 5

Can I open a bank account for a company?

Accepted Answer

Yes, you can. There are two ways to open a bank account. The first is in UAE banks, and the second is in international banks. A detailed analysis of the purpose and the specifics of your company will prompt us to use one of the above options.
We will counsel you on the best option for you.

Question 6

Can I get a residence permit in the UAE?

Accepted Answer

You can become a UAE resident by starting a business. Owning an entrepreneurial business in the country allows you to obtain a three-year resident visa. This visa allows you to bring your family to the country for legal residency and to hire future employees. Furthermore, in order to become a resident of the UAE, you need to: Open a business in the main zone or the free zone, get a legal job in a local company and purchase a residential property worth at least AED 1 million.

Question 7

Can a non-UAE resident open a local bank account?

Accepted Answer

Yes. Non-residents from other countries can open a savings account in one of the local banks. Each bank has different requirements, but there is a wide range of options. Naturally, residents have more privileges, such as the ability to obtain loans.

Question 8

What are PRO Corporate Services in UAE?

Accepted Answer

PRO services provide professional services in document legalization. To start a business in the UAE properly and smoothly, you need to obtain a visa, open a bank account, and confirm and legalize your foreign documents in accordance with UAE law. Our experts will assist you in formalizing the necessary documents.

Question 9

How much does a business license cost?

Accepted Answer

A license is a mandatory requirement for the correct registration of a company in the UAE. The type of licence depends on the area in which the business conducts its activities. In the special case where the company is a multi-discipline; there must be several licenses. The cost depends on the type of document and jurisdiction - on average, from 7,500 to 50,000 dirhams. The company's founder is granted a one-year license with the option to renew.

Question 10

Can a foreign company open a branch in the UAE?

Accepted Answer

Yes, foreign companies are given this opportunity. A foreign company can establish a branch in one of the country's free zones or on its main territory. The requirements for the company and the specifics of doing business will be determined by the industry you choose.

FAQs