Business Setup in Dubai UAE
Dubai is the ultimate business gateway for the middle east and the rest of the world. The administration has put aside industry free zones throughout the region to promote company formation in Dubai. Dubai spearheaded the formation of free trade zones, and the city has the largest and best free zones in the continent. Some of the most renowned free zones include Jebel Ali Freezone. Setting up a company in UAE requires four simple steps:
- Documentation
- Attaining business license/permit
- Visa
- Bank account
The United Arab Emirates is made of six emirates. All the emirates offer conducive environments for company establishment. Business owners in Dubai Freezone company enjoy an excellent international reputation and can own 100% shares in their foreign companies. Some of the goodies associated with company formation in Dubai include;
- Exemption of income and corporate tax for 50 years
- Absolute foreign ownership
- Excellent infrastructure, i.e., seaport and airport and communication facilities
- Attractive and low rents for office space and commercial properties
- State of the art offices and ready to use warehouses
- Adequate land for lease for industrial expansion
- Easy and unbureaucratic registration procedures
- Clear laws and regulation in terms of business ownership
- Ready market-the region has over 3 billion consumers
The above advantages make Dubai Freezone company the best place for a company start-up by foreign entrepreneurs.
The How and Benefits of Obtaining Residency in Dubai
Living in Dubai could be one of the most exciting experiences. Dubai is the top-tier paradise for expatriates and entrepreneurs since the city offers exciting career opportunities, conducive weather, and a lavish lifestyle. To live or work in the United Arab Emirates, you need to apply for a UAE Residence Visa. The visa is eligible for renewal after every three years. The most popular method of obtaining Dubai residence is registering a company or buying a property in Dubai or any of the Emirates. A personal residence visa in Dubai offers multiple benefits, such as;
- Access to government services such as education, health services, and insurance
- Obtain a driver’s license
- Opening bank account and access to loans
Requirement for applying for residence in Dubai include;
- Original passport
- Entry visa
- UAE Visa application form
- Medical fitness form
- Two passport size pictures
- Your sponsor’s legal residence or work contract
Foreigners with Dubai residence permits can apply for residence for their family members, i.e., spouses, children and parents. The applicant must be earning a minimum salary of 3000-4000AED to facilitate their stay. The procedure to obtain residence is subject to a fee that depends on the type of permit to be obtained. The United Arab Emirates is a tax-free haven making the region popular and conducive for entrepreneurs and freelancers.
