Set Up a Company in Dubai

Dubai is a seductive destination for entrepreneurs looking to set up a company that will benefit from the region’s booming economy and its incredibly attractive tax regime, with businesses registered in the UAE enjoying 0% corporate taxes. The emirate is also home to numerous incubators and initiatives geared toward supporting entrepreneurship, as well as easy-to-navigate legislation that further encourages business growth. It regularly ranks within the top ten of the World Bank’s ease of doing business index.

Those thinking of company set up in Dubai need to decide whether to do so on the mainland or in one of the Free Zones. Generally speaking, if you wish to keep 100% ownership of your company, you will want to do so in one of the Free Zones. On the mainland, however, foreigners can still only own up to 49% of a business if it is in a field considered as strategic by the government.

Once you’ve decided on your business activity and trade name, you will need to apply for a licence with the Department of Economic Development in your chosen emirate. Different emirates have their own licensing requirements, but it is typically a simple process that involves submitting standard documentation. Depending on the jurisdiction, you may need to provide a business plan, shareholding details and passport copies of the directors.

Is it Easy to Set Up a Company in Dubai?

It’s important to note that you will need to have a bank account in order to start trading. There are a number of commercial banks in the UAE, including Noor Bank, Emirates Islamic, Mashreq and RAKBANK, as well as global names like HSBC and Citibank. Once your company is registered and you have your license, you will be able to approach any of these banks to open a corporate bank account.

Once you have your corporate bank account, it is important to make sure you are compliant and up to date with all of the governing regulations in the UAE, particularly in the emirate of Dubai. A business setup expert will be able to guide you through the process and help you ensure that all of your business is operating in accordance with local laws.

Getting the right corporate structure in place for your company is essential if you want to maximize profitability, reduce risk and retain 100% ownership of your business. Through a detailed risk mitigation analysis, EmiratesSetup can help you to select and implement the perfect corporate structure for your specific business needs. This will ensure that your company is highly profitable, legally compliant and completely under your control.