Entrepreneurs have found Dubai to be a friendly environment. Numerous ex-pats have become millions and billionaires via investing in this emirate’s emerging commercial sectors. Often, individuals believe that a significant sum of money must be invested to gain maximum rewards. It will come as a surprise to those starry-eyed ex-pats and locals that you do not need a large sum of money for the business setup in Dubai or any other emirate in the nation. There are several fantastic possibilities available to entrepreneurs in Dubai. To begin, you may instantly immerse yourself in one of the world’s most lively and encouraging settings. The UAE is a business-friendly country, and you’ll find lots of assistance here to help your budding firm take flight. Naturally, Dubai’s tax rate deserves consideration as well. In 2021, both corporate and personal income will remain at zero percent. Then there are Dubai’s free zones, which provide a slew of advantages, ranging from tax exemption to capital and profit repatriation.
Required documents to establish a business in Dubai
- When applying for a trade license, you will often be required to supply the following information:
- A filled-out application form
- Incorporation articles (if necessary)
- Copies of passports for all shareholders
- Synopsis of proposed business activity
How to establish a business in Dubai on a shoestring budget?
Perhaps we could rephrase the title to ‘How to establish a business in Dubai with no money to ‘How to start a business in Dubai with (nearly) no money. The reality is that any of these enterprises will require some initial expenditure to get started. However, it does not have to be a hefty sum. All of the company concepts outlined above need little (if any) equipment or overhead, and so the only significant upfront expense is licensing – which is relatively inexpensive in the UAE. How much this will cost depends on the sort of setup you choose.
One possibility is to begin in a free zone. Here, you may anticipate paying between AED 10,000 and AED 15,000 for a company license. Alternatively, you may apply directly to the Department of Economic Development for your support. Again, expect to pay around AED 15,000.
A company formation professional can advise you on the most effective method of establishing your firm. If you desire, our formation specialists can even manage your company license and visa application for you.
However, bear in mind that while the application procedure is straightforward, it does require an expert eye. Any mistakes in your application may result in postponement or rejection. That is why it is frequently a good idea to engage with a business setup professional to assist you with the business setup in Dubai. When working with a company formation specialist, all you need to offer is some essential documents and some information about your business’s nature. Then sit back and let the specialists handle the rest – running your license and visa applications, contacting all applicable departments and authorities, and reporting back when you’re ready to begin trading.
