5 advantages to starting a business in Dubai

Entrepreneurs in the Emirates now place a high value on doing business in forward-thinking Dubai. The following state the top five business advantages to locating your business in this city:

1. Free trade zones (Free Zone), which are beneficial for business.
2. Ability to conduct international trade.
3. Easy opening of a bank account.
4. Opportunity of going to the state level.
5. Convenient political and economic conditions for doing business.

How long does it take to register a business?

It all depends on the chosen free zone. The registration process can take 15 to 40 days.

Dubai Taxes

In the United Arab Emirates, no law governs the tax system. Each emirate and Free Zone has its own set of rules. In Dubai, only companies that are engaged in the oil and gas, banking, and tourism sectors are required to pay taxes. The authorities intend to implement an income tax on local companies in the UAE ranging from 0% to 9%, depending on the rate, beginning in 2023.

Process for starting a business in Dubai

1. Choice of registration place: This will have an impact on the company's definition and capabilities.
2. Registration of company name: Naming must meet the requirements and not be duplicated.
3. Registration application: To open a company, you need the original and a copy of your passport, a bank account statement, your photograph, proof of address and other mandatory documents that need to be clarified in each zone.
4. Identification: The registration authority carries out the process depending on the license, business type, and Free Zone.
5. Lease of premises: To conduct business in the UAE, the company must be assigned to a location. Lease conditions for businesses vary depending on the free zone.
6. License obtainment: This is a mandatory item. The entire package of documents is submitted to the registration authority, which issues a license to the company after verification.