Why Choose a New Business Setup in UAE?

Dubai has vast advantages for businesses to grow. Here’s why you require company formation in UAE:

1. Tax Benefits: No personal income tax and minimal corporate tax rates will save money. You can use the saved amount for reinvestment or rewarding employees.
   
   
2. 100% Repatriation: No restrictions on transferring profits and capital, and global expansion support gives your company a chance to grow.
   
   
3. Free Zones: Benefit from 100% foreign ownership and set up your workplace according to your industry requirements.
   
   
4. Low investment: Chance to start your new business setup in UAE dream at minimal investment.
   
   
5. No currency limitations: Trading across the world is super easy with no restrictions on currency.
   
   
6. Wider investment opportunities: The ever-growing economy of Dubai gives companies higher growth prospects.
   
   
7. Skilled Labour: Dubai offers the facility to hire labor from different parts of the world and a multilingual workforce to ensure smooth operations with a global customer base.
   
   
8. Easy Visas: Get easy visas according to your company size. The easy residency process allows you to attract a highly talented workforce.
   
   
9. Favorable Regulations: Entrepreneur-friendly policies by the UAE government allow companies to grow and expand without any restrictions for a new business setup in UAE.
   
   

Strategic Benefits of Selecting UAE to Set Up A Business

Dubai is a global business hub offering a wide range of benefits to the companies:

1. Suitable location: The UAE is a gateway to the Middle East, Europe, Asia, and Africa, offering businesses a global market for trade.
   
   
2. Diverse sectors: You can establish your business in various sectors including real estate, hospitality, logistics, technology, and Tourism.
   
   
3. Tax benefits: UAE offers minimal corporate tax, no personal income tax, and VAT-free export opportunities, which allow unhindered growth and expansion.
   
   
4. High life standard: Dubai offers a safe lifestyle with a modern environment, world-class healthcare facilities, global education, and a diverse culture.
   
   
5. Supportive environment: UAE is business-friendly, offering easy setups, expert professional advice, and limited paperwork to establish a new company.
   
   
6. Strong economy: Establishing a company in the UAE offers you a diverse economy to trade with a solid infrastructure and amazing growth prospects.
   
   
7. Financial Assistance: Dubai has well-developed financial systems and grants, combined with high-end technology, making it easy for entrepreneurs to operate and grow.
   
   

Exploring Business Jurisdictions in the UAE

UAE has 3 major business jurisdictions, each with its own diverse business needs. Choose the one that suits your needs and unlock your business setup in UAE.

1. Free Zones: Company formation in UAE under Free Zone business jurisdiction offers 100% foreign ownership, profit and capital complete repatriation, no export or import duty, and free fund transfers. You can get tailor’s benefits and easier processes.
   
   
2. Mainland: Mainland company formation in UAE enjoys unrestricted functioning across Dubai with no limit on minimum investment. Entrepreneurs can apply for unlimited visas. You can also enjoy trading directly into local markets without annual audits.
   
   
3. Offshore Companies: Leverage zero income and corporate tax, 100% foreign ownership, complete capital repatriation, and open multi-currency accounts. You also get privacy and flexibility for virtual office setup and exemption from TIEAs.
   
   

Steps For Online Company Registration in UAE

Company setup in UAE is easier with Business setup consultants in UAE like BrightVision. Our simple and strategic approach ensures an affordable UAE Business setup costs and efficient process and 24-hour registration.

1. Documentation: BrightVision handles all the paperwork required for business and helps you make the best decision for your dream business setup in Dubai, UAE.
   
   
2. Business License: It is essential to choose the right license for your business setup in UAE Idea. Getting approvals can be troublesome. Our experts will help you to meet all the requirements for license and approvals, avoiding common pitfalls in order to perceive online company registration in UAE.
   
   
3. Visa Process: At BrightVisions, we ensure you get employment entry permits with residency visas within 30 days and turn the hectic process into a smooth journey.
   
   
4. Bank account: International entrepreneurs find it hard to open a bank account in the UAE. Our experts will guide you throughout the process to set up your bank account quickly and seamlessly.
   
   

Steps For Company Formation in UAE

BrightVisions offers you complete support for legal compliance, PRO services, and operational needs. We simplify your Mainland Business setup in UAE:

1. Initial Consultation: Our experts will discuss your business goals, activities, and requirements and make personalized strategies for your company formation in the UAE.
   
   
2. Choose business activity: Identify your business activity and choose the suitable license type – commercial, industrial, professional, or tourism.
   
   
3. Name your business: Choose an appropriate name for your business while considering the Business Setup in Dubai, UAE naming regulations.
   
   
4. Collect documents: Gather all the necessary documents including passport copies, visas, address proof, and translation, if required.
   
   
5. Choose location: Find a suitable location for your company setup in UAE. Consider accessibility, client proximity, and infrastructure while selecting your business location.
   
   
6. Submit license application: Complete the application and all the documents and submit them to the Department of Economic Development (DED) or relevant authorities for finalizing the process to business setup in UAE.
   
   
7. Open Bank account: Open your bank account in a reputed bank and submit all the required documents, including registration certificates and lease agreements.
   
   
8. Visa Processing: Apply for visas for shareholders, directors, and employees through the General Directorate of Residency and Foreign Affairs (GDRFA).
   
   
9. Company Registration certificate: Complete all the steps to receive the registration certificate of your company setup in UAE.
   
   

Steps to Business Setup in UAE Offshore Region

Offshore company setup in Dubai is a simple process with BrightVision.

• Choose a name: Select the appropriate name for your company while considering the naming regulations for business setup in Dubai, UAE. Avoid the names including terms “bank” or “insurance”.
  
  
• Determine business activities: Define your business activity such as consultancy, commerce, shipping, or investment. It is essential to mention it in the application.
  
  
• Decide ownership: Finalize your business ownership structure such as several directors and shareholders.
  
  
• Prepare documents: Collect all the essential documents including passport copies of shareholders and directors, address proofs, CVs, and a comprehensive business plan.
  
  
• Submit application: Submit all the necessary documents and applications to the relevant authorities. You will get the approval in 3 business days.
  
  
• Draft Memorandum and Articles of Association: After getting approval, make MOA and AOA to define your company structure and working policies.
  
  
• Open Bank account: Open an offshore bank account for your business transactions after getting all the approvals.
  
  
• Compliance and Maintenance: You must ensure compliance with local policies to maintain your company setup in UAE standards. However, offshore companies are exempted from annual audits and taxes.
  
  

Steps To Set Up Business In Free Zone UAE

In the 21st century, owning a business is still a dream for many. People from all corners of the world now have the opportunity to own their own business in FreeZone UAE. It’s important to understand the basics of FreeZone and the steps required to set up a business there.

Free Zone UAE is an innovative program introduced by the UAE government to attract businesses and investors from around the globe by offering tax exemptions and complete foreign ownership. Here are the steps to set up a business in Free Zone UAE:

1. There are many free zones in the UAE where investors can set up their business. It’s important to select the right Freezone according to your preference and business needs.
   
   
2. Next, you need to choose a legal entity, such as a Freezone Establishment (FZE) for single-owner companies or a Free Zone Company (FZC) for companies with multiple shareholders.
   
   
3. Having a brand name is crucial. Select a trade name that reflects your brand’s value and purpose.
   
   
4. Afterward, apply for a business license and submit the required documents to the relevant government authorities.
   
   
5. Choose an office space within your selected Free Zone.
   
   
6. Finally, register your business with the Free Zone Authority.
   

BrightVision can assist new business owners in setting up their business in Free Zone UAE. Choosing BrightVision is a great choice, as they bring 30 years of successful experience. Their top experts are available 24/7 to support business owners. Not only in the UAE, but people from around the world can set up their business with BrightVision’s assistance!

Legal Structures For Starting A Business in UAE

Choosing the legal structure for your company is essential for compliance, liability management, and smooth operations.

1. Sole Establishment or Sole Proprietorship: Single individual ownership with unlimited liability. It means the owner is personally responsible for all the debts.
   
   
2. Civil Company: Partners share the liabilities and operations, making it ideal for professional services such as law firms.
   
   
3. Limited Liability Company (LLC): Includes a limited liability structure and requires at least two shareholders with 50% ownership.
   
   
4. Free Zone Companies (FZC): Companies get 100% foreign ownership and benefits such as tax exemptions, no export or import duties, and trading opportunities in the international market.
   
   
5. Partnership Company: Two or more shareholders take up responsibilities, risks, profits, and liabilities. It is suitable for sectors such as real estate or law.
   
   
6. Private Joint Stock Company (PrJSC): Companies can have up to 50 shareholders with a minimum capital of AED 2 million. They cannot trade shares publicly.
   
   
7. Public Joint Stock Company (PJSC): The minimum capital requirement is AED 10 million. It is suitable for larger businesses in finance, insurance, or banking.
   
   
8. Branch Office of Foreign Companies: Foreign companies can establish a presence in the UAE with national service agents and refundable deposit guarantees.
   
   

Common Challenges in Business Setup in UAE & Their Solutions

Entrepreneurs face various challenges at every step of business setup in Dubai. Our experts at BrightVision will help you overcome all the challenges and make the process smooth.

• Choose the right location: Selecting the right location, whether Free Zones or Mainland, is crucial. BrightVision will assess your business needs and help you choose the best location for your company formation in UAE.
  
  
• Finding Office Space: A physical office is required for a business license, with different space requirements. We provide flexible office solutions to meet your business needs.
  
  
• Understanding the Tax Environment: Entrepreneurs must understand VAT, corporate tax, and other duties, with corporate tax set at 9%. Familiarizing yourself with applicable tax laws will help you avoid penalties during company setup in UAE.
  
  
• Understanding the UAE Employment Market: Companies must comply with employment regulations, including visa quotas, salary policies, and accommodation requirements. Understanding local employment laws ensures a smooth visa process for a successful business setup in UAE.
  
  
• Corporate Bank Account: Opening a corporate bank account can be challenging due to strict policies and high banking service demands. BrightVision’s expertise simplifies the banking process, ensuring a hassle-free experience.
  
  

Legal Requirements for Business Setup in UAE

UAE business offers significant growth opportunities but also requires compliance with legal regulations.

1. Choose the Right Legal Structure: Businesses in UAE can operate under various legal structures, including LLC, sole proprietorship, corporation, limited partnership, and trust. Each has unique features, so choose one that aligns with your business goals.
   
   
2. Intellectual Property Rights: Protecting intellectual property (IP) such as patents, trademarks, and logos is essential to safeguard against legal disputes.
   
   
3. Business License: The Department of Economic Development (DED) issues trade licenses to legally authorize business operations. Select the appropriate license based on your business activity.
   
   
4. Partnership Agreement: A written partnership agreement outlining the rights and responsibilities of each partner is required for business transparency and smooth operations.
   
   
5. Employee Rights and Safety: Implement clear policies regarding employee rights and workplace safety. Compliance with health and safety regulations is essential to avoid legal complications during business setup in Dubai, UAE.
   
   

Types of Business Licenses in UAE

One of the most essential steps in company formation in UAE is obtaining the appropriate license. With Business Setup Consultants in UAE like BrightVision’s assistance, you can choose the suitable license for your business based on your business activities and goals.

1. Trade License: A trade license is required for businesses involved in trading activities such as buying, selling, retail, and wholesale. Companies engaged in import/export also need this license. It allows businesses to trade both locally within the UAE and internationally.
   
   
2. Industrial License: Companies involved in manufacturing, production, or assembling goods must obtain an industrial license. Any business engaged in industrial processing or large-scale production requires this license to operate legally in the UAE.
   
   
3. Professional License: Service-based businesses such as consulting, legal, medical, educational, or technical services require a professional license. This license is mandatory for professionals, artisans, craftsmen, and service providers who offer specialized services in the UAE.
   
   With the assistance of a leading business setup consultancy in UAE like BrightVision, you can navigate the licensing process smoothly and resolve any hurdles efficiently.

Legal Documentation and Approvals for New Business Setup in UAE

Businesses require several legal documents and approvals for business setup in UAE.

1. Business Plan: A well-drafted business plan outlining objectives, operations, and financial projections.
   
   
2. Passport and Visa: Copies of shareholders’ and directors’ passports along with UAE visas.
   
   
3. Tenancy Contract: A registered lease agreement for office premises.
   
   
4. Board Resolution: A resolution from shareholders approving company formation.
   
   
5. Trade License: A mandatory business license issued by the Department of Economic Development (DED).
   
   
6. Local Service Agent Agreement: For businesses requiring a UAE national as an agent.
   
   
7. NOC: No Objection Certificate from sponsors (if applicable).
   
   
8. AOA (Articles of Association): A document defining the company’s regulations.
   
   
9. MOA (Memorandum of Association): A document stating company objectives and ownership details.
   
   
10. Emirates ID: Required for company shareholders and managers.
    
    
11. External Approvals: Additional approvals depending on the industry.
    
    
12. Power of Attorney: Legal authorization for business representatives.
    
    
13. Lease Agreement: A registered rental contract for office premises.
    
    

Compliance with Local Laws and Regulations in the UAE

For a new business setup in UAE, compliance with local laws is mandatory. BrightVision, one of the leading business setup consultants in UAE, will help you navigate regulations to avoid legal complications.

• Taxation: The UAE has a simple tax structure. Companies with a taxable turnover above AED 375,000 must register for VAT at a 5% rate. Corporate tax is 9% for businesses with a turnover below AED 300,000. Late corporate tax registration incurs a penalty of AED 10,000.
  
  
• Financial Audits: Businesses must conduct annual financial audits, including profit and loss statements and balance sheets. Free Zone companies must adhere to specific audit policies.
  
  
• Economic Substance Regulations (ESR): Businesses in sectors such as banking and insurance must demonstrate a genuine economic presence in the UAE to avoid penalties.
  
  
• Ultimate Beneficial Owner (UBO) Compliance: Register your company under UBO regulations to avoid legal complications.
  
  
• AML/CFT Compliance: UAE has strict Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) regulations. Businesses must follow Know Your Customer (KYC) and Customer Due Diligence (CDD) processes.
  
  
• Annual Compliance Checklist: To ensure smooth company registration in UAE, businesses must complete renewals, audits, and tax filings on time to avoid penalties and maintain good standing with UAE authorities.

Start a Business in Dubai as a Foreigner

Starting a business in the UAE is no longer a dream. Anyone can start a business in the UAE from anywhere in the world, whether or not they are a citizen of the country. Below are some basic steps to quickly set up your business:

By following these steps, a foreigner can set up their business in the Free Zone UAE.

1. Before setting up your business, determine your business type and the business activities you want to proceed with.
   
   
2. Then, choose a business name that aligns with your company’s values and mission. A suitable name will help customers connect with your business more smoothly.
   
   
3. Check with the Dubai Economic Department (DED) or Free Zone Authority to register your desired company name.
   
   
4. Once the company name is registered, you can obtain a commercial license, also known as a Trade License, which will legally allow you to conduct business freely in Dubai.
   
   
5. Keep your documents ready to open a corporate bank account, which will be regulated periodically by Dubai authorities.
   
   

All these steps can be completed quickly by aligning with BrightVision.com, who works with experts and provides 24/7 support services worldwide. We have over 1,000 happy clients and more than 30 years of experience in the Free Zone UAE. Book your consultation with us using the following contact details:

Email – info@consultbrightvision.com

Phone Number – +971 50 463 1640

How to Choose the Right Business Setup Package in the UAE?

Several factors are essential to consider while choosing the right package for starting a business in UAE. Smart decisions can help you get the cheapest business setup in UAE with the help of leading business setup consultancy in UAE.

1. Understand your business type: Choose your business type as per your operations and ownership—Freezone, Mainland, or Offshore for your company formation in the UAE.
   
   
2. Determine Business Activity: Different business activities require different licenses and approvals. Your business license required is based on your business activity.
   
   
3. Consider budget: Packages are available for varying costs. You must find the options that include trade license, office spaces, visas, and bank account setup as per your budget.
   
   
4. Select business location: Free Zones are good for international trade while mainland locations are best for businesses targeting local markets to register your company in UAE.
   
   
5. Assess Visa Requirements: Determine the number of visas required for your business setup and employees.
   
   
6. Value-added services: Go for the packages offering legal guidance, tax advice, and banking assistance.
   
   
7. Research and compare: Choose a good provider with expertise in the industry for starting a business in UAE. Consult BrightVision to choose the right package for your business establishment in the UAE.
   
   

Finding the Right Business Setup Consultancy in UAE: Contact Now!

Our expert services make business formation in the UAE easier than ever. Our team handles everything from registration and compliance to planning. We allow you to focus on your business growth and leave all other responsibilities to us. Our professionals will provide you with personalized solutions as per your business goals, ensuring a smooth process. Whether a startup or an established company, we help you in every process and support you in your journey. One of the leading business setup consultancies in UAE, like BrightVision, helps you turn your vision into reality. Contact us today!