SET UP YOUR BUSINESS IN DUBAI
International Payments & Business Relocation Services for Dubai & United Arab Emirates (UAE)
SET UP YOUR BUSINESS IN DUBAI
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9% Corporation Tax
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0% Income Tax for Business Owners & Employees
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Freezones with 100% Foreign Business Ownership
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Gateway to Emerging Markets
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World Class Infrastructure
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Quality of Life
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and much more...
Thwaytes Capital Group & its Partner Network provide comprehensive services to help your prepare for and execute your business, personal & employee relocation to Dubai.
Setting Up A Business in the UAE
Whilst it is relatively easy to set up or relocate a business to the UAE it is not something that can be done remotely. It is strongly advised to use a local agent to talk through your personal options and submit all of the documentation on your behalf. This is especially important when setting up a business in the mainland as this may require a local sponsor, depending upon the type of business you are setting up and your residency status. Here are the 7 steps to setting up a company in the UAE:
1. Choose the type of business you want to set up.
If you are relocating a business then this is obvious, however, the type of business will determine which of the 20 free zones you can/should use or whether the business can be established in the mainland with or without a sponsor.
2. Determine the legal structure of your business, such as LLC, FZE or PJSC. This will determine the regulatory body you’ll need to apply for a trade licence. If you’re setting up in a free zone then this application will be direct with the free zone.
3. Open a Multi Currency Account with us. This will make the process of making payments within the UAE for fees and other business expenses easy whilst you wait to open a bank account.
4. Secure an available trade name for your business.
5. Prepare the necessary documentation including passport copies.
6. Create a business plan. This is a mandatory requirement of the process.
7. Memorandum or Articles of Association (MoA or LSA). Once approved you will obtain a trade license. After this you will be able to apply for a bank account and apply for visas for yourself and your employees.
Why Set Up A Business in Dubai?
It’s a great place to live.
The UAE and Dubai in particular have long been great holiday destinations. It has a long history of tradition and yet is modern. There is a strong police presence and crime rates are very low. There are excellent schools, scenery, coasts and parks.
The large ex-pat community means that there is a wide mix of people to meet as well as their associated cultures and food.
The tax advantages.
Many companies pay 0% tax, especially in the Free Zones. Even in mainland UAE, the tax rates of corporate, personal and customs are very low.
Strategic Location.
The UAE sits at the intersection of Europe, Asia and Africa giving businesses access to new and emerging markets, and of course the rapidly growing UAE economy too.
Minimal Bureaucracy. Setting up a business, even financial services businesses, is straightforward, although a local agent is required to complete the process.
Full Ownership. The main choice has always been between 100% ownership within the free zones and the requirement for sponsorship of businesses in the mainland. The sponsorship requirements are slowly being relaxed, although some sectors still require sponsorship of 51% business ownership. There are options to off-set the sponsor ownership with retainers.
Exceptional Infrastructure. The UAE boasts an incredible transport, logistics and technology infrastructure including high-speed internet access. There is also access to a large highly-skilled multilingual workforce that means you can be local, but operate globally.
