Key moments of opening a business in Dubai
Increasingly, entrepreneurs are interested in opening a business in Dubai.
First, you should choose the organizational and legal structure of the legal entity and the place of registration. Most often it is better to choose a free economic zone in which the state allows you to conduct the activity you are planning.
If your choice fell on a limited liability company (LLC), you need to sign an additional agreement with the local investor. Such an agreement details your rights and authority with respect to the company, as well as restrictions on the actions of your partner.
In case you plan to use the jurisdiction of the UAE only as a base for conducting international business, and you do not need an actual office on the territory of the country, the most effective option for financial costs and simplicity in resolving administrative issues will be the option of opening an international business company (IBC) and a bank account in the name of your company.
Why UAE for your own business?
The UAE is a country whose development strategy is aimed at the future and is developing rapidly. The government does everything necessary to strengthen the state's leading positions and support its competitiveness as an ideal place for business, life and recreation.
At the moment Dubai occupies high positions in various international ratings. Advantages for entrepreneurs:
- Developed infrastructure for business and residence;
- Attractive tax treatment for businesses and individuals;
- Infrastructure of the leading regional center for logistics, trade and business;
- A highly developed stable economic system with a perfect legal and regulatory framework.
Advantages of free zones in business set up
Free zones provide an opportunity to issue work visas for company employees, if they live in other countries, quickly and easily. For the employer this is a great chance to attract the best specialists from all over the world.
Unfortunately, there are restrictions that apply to certain types of business that are banned in the UAE, such as the opening of gambling establishments.
In other cases, restrictions apply only to certain activities, and in order to start such a business, as a general rule, it is sufficient for you to obtain the necessary permission. For example, to obtain the right to provide medical services, an appropriate permit is required from the Ministry of Health.