What Are The Requirements For Company Setup In Dubai?
Dubai has become one of the most attractive destinations in terms of investors and entrepreneurs around the globe
Jack-2
Dubai has become one of the most attractive destinations in terms of investors and entrepreneurs around the globe. The attractive business policies and the best infrastructure make it a great place to set up businesses in different industries. But prior to getting into the prospects, it is important to know about the setup requirements of a freezone company in Dubai.
With a proper understanding of the process, you can save time and prepare your business path better.
Choosing The Right Business Structure
The first thing when starting a company in Dubai is determining the business structure. You have the option of a mainland company, a free zone company, or an offshore company, based on your goals.
- Mainland companies enable you to directly trade within the UAE market and undertake government contracts.
- Free zone firms are favoured due to tax advantages, 100% foreign ownership, and streamlined processes, but they cannot go beyond their allotted zones unless they enter into collaboration with local distributors.
- Offshore companies are apt for international business operations without interacting with the UAE local market.
Your business structure will affect the rules of ownership, licensing, and the nature of activities that you can carry out.
Defining Your Business Activity
The Department of Economic Development (DED) or respective free zone authorities mandate you to mention your business activities. Dubai has over 2,000 activity choices ranging from trading and consultancy to manufacturing and technology services. It is important to choose the right activity as your license will be given according to it. Conducting activities beyond the approved ones can result in a penalty or even cancellation of your license.
.png){kind=small}
