Costs of establishing a company in Dubai – Establish your company now. Establishing a company in Dubai represents a crucial strategic step for investors seeking to benefit from the advanced infrastructure and dynamic economic environment that this global city provides. In cooperation with Itqan Company, which specializes in consulting services in Dubai, investors have the opportunity to overcome potential challenges during the establishment and operation process, by providing specialized consultations and customized solutions that suit their needs and business goals.

Dubai provides a distinguished investment environment that combines modernity and innovation, making it an ideal destination for establishing companies in various economic sectors. The costs of setting up a company in Dubai vary based on the type of company and planned activities, and include the costs of licenses, registration, and obtaining offices, in addition to the costs of legal advice and local taxes.

Despite the additional costs, investors can benefit from the huge opportunities that Dubai offers as a global business hub, with opportunities for rapid growth and expansion into new markets. Thanks to Itqan’s experience and deep knowledge of the local market, investors can achieve success and make the most of their investments in Dubai, ensuring the long-term sustainability and prosperity of the business.

Costs of setting up a company in Dubai

Basic steps to establish a company in Dubai

Dubai is considered one of the world’s premier business and investment destinations, thanks to its dynamic and flexible economic environment. The emirate encourages companies from all over the world to invest thanks to its excellent infrastructure, supportive economic policies, and tax facilities. Establishing a company in Dubai can be a strategic step to achieve success and growth, but it is important to understand the basic steps and requirements needed to complete this process successfully. Basic steps to establish a company in Dubai

• Choosing the type of company: The first step is to determine the type of company you want to establish. Options include limited liability companies (LLC), subsidiaries, branches and free companies.
• Determine the business activity: The business activity that the company will undertake must be determined. Activities can be commercial, industrial, service, or professional.
• Choosing a company name: After determining the type of company and activity, you must choose a unique and appropriate name for the company, and be careful to adhere to the rules and requirements set by the Department of Economic Development in Dubai.
• Obtaining initial approvals: You must apply for initial approvals from the Department of Economic Development (DED) or the competent authority in the free zone in which you intend to establish the company.
• Preparing and submitting documents: This includes preparing the necessary legal documents such as the company’s articles of incorporation and articles of association, in addition to submitting the required personal documents such as passports.
• Renting a corporate headquarters: Depending on the type of business, you may need to rent an office or commercial facility. Some free zones offer virtual offices as a less expensive option.
• Obtaining a license: After completing all previous steps, an application can be submitted to obtain a commercial license from the Department of Economic Development or the competent authority in the free zone.
• Opening a bank account: After obtaining the license, you can open a commercial bank account for the company in one of the local banks in Dubai.
• Obtaining work visas: Once the company is established, employees can apply for work visas.
• Compliance with Legal Requirements: Ensure compliance with all local legal and regulatory requirements, including registering with the Dubai Chamber of Commerce, and obtaining the necessary insurances.

Setting up a company in Dubai requires following these basic steps and adhering to local regulations to ensure a successful and sustainable start of business in the emirate.

Free zones in Dubai and their impact on company establishment

Dubai, a thriving and vibrant city, is considered one of the most prominent global investment destinations, thanks to its flexible economic environment and advanced infrastructure. One of the main advantages that Dubai offers to investors is the free zones, which play a vital role in attracting companies from all over the world. These zones provide an ideal business environment with many facilities and tax exemptions, making them an ideal choice for establishing companies and expanding businesses. Free zones in Dubai and their impact on company establishment What are free zones? Free zones are designated economic zones that provide tax facilities and exemptions to companies and investors. Companies operating in these areas enjoy greater flexibility and special laws that facilitate the business and trade process. The most famous free zones in Dubai:

• Jebel Ali (JAFZA): One of the largest and oldest free zones in Dubai, it is famous for its stable economic environment and strategic location close to Jebel Ali Port.
• Dubai International Financial Center (DIFC): It is considered a global financial center that provides an advanced business environment with flexible financial and regulatory laws.
• Dubai Internet City (DIC): A technology hub that includes many international technology companies and provides a supportive environment for innovation and technological development.
• Dubai Healthcare City (DHCC): A center specialized in health and medical services, providing an ideal work environment for companies operating in the healthcare sector.

Facilities and exemptions provided in free zones:

• Tax exemption: Most free zones provide tax exemption on profits and income for periods of time ranging from 15 to 50 years.
• Full foreign ownership: Free zones allow foreigners to own 100% of the company without the need for a local partner.
• Simplified registration procedures: Free zones provide simplified and quick registration and licensing procedures that facilitate starting a business in a short period of time.
• Money Transfer: Allows the freedom to transfer money and profits outside the country without restrictions.

The impact of free zones on the establishment of companies:

• Ease of starting a business: Thanks to great facilities and simplified procedures, companies can start their business quickly and efficiently.
• Attracting investments: Free zones work to attract foreign investments thanks to the supportive economic environment and competitive advantages.
• Encouraging innovation: It provides a work environment that encourages innovation and development thanks to the facilities provided to startup companies and entrepreneurs.

Requirements for establishing a company in free zones:

• Choosing the appropriate free zone: This depends on the type of business activity and the company’s goals.
• Preparing the necessary documents: including basic documents such as passports, articles of incorporation, and business plan.
• Applying for a license: It is required to apply for a license from the competent authority in the chosen free zone.

Dubai’s free zones are a major driver of economic growth, providing an ideal business environment with many competitive advantages. These areas are an ideal choice for companies looking for a supportive and flexible environment to establish and expand their business in Dubai.

Basic legal requirements for setting up a company in Dubai

Basic legal requirements for setting up a company in Dubai

Dubai is considered one of the leading business and investment destinations in the world, thanks to its advanced infrastructure, flexible economic policies, and strategic location. If you are considering setting up a company in Dubai , it is important that you are aware of the basic legal requirements to ensure compliance with local laws and avoid any future legal hurdles. This guide will help you understand the steps and legal requirements you need to follow to successfully establish your company in Dubai. Basic legal requirements for setting up a company in Dubai

Choose the company type

• Limited Liability Companies (LLC): Suitable for small and medium businesses.
• Sole Proprietorships: Allows an individual to own and manage the company alone.
• Foreign companies: include branches and representative offices of international companies.
• Free companies: They are registered in free zones and enjoy tax exemptions and full foreign ownership.

Determine the business activity

The business activity that the company will undertake, such as commercial, industrial, professional or service, must be determined, and its compliance with the laws and regulations of the Department of Economic Development (DED) must be ensured.

Choose a company name

Choose a unique and appropriate name for the company, and ensure that it does not conflict with the names of other registered companies. The name must comply with the rules and standards set by the Department of Economic Development.

Preparing legal documents

• Basic documents include:
• The company’s articles of incorporation and articles of association.
• A copy of the passports of all partners and shareholders.
• Proof of address and contact information.
• Obtaining initial approvals

Submit an application to obtain initial approvals from the Department of Economic Development or the competent authority in the free zone. These approvals include approval of the company name and business activity.

Locate the company

Renting an office or commercial facility in Dubai. Some free zones offer virtual offices as a less expensive option.

Obtaining a license

After completing all documents and approvals, you can apply for a commercial license from the Department of Economic Development or the competent authority in the free zone.

Registration in the Dubai Chamber of Commerce

After obtaining the commercial license, you must register with the Dubai Chamber of Commerce and Industry to obtain chamber membership.

Open bank account

Opening a commercial bank account for the company in one of the local banks in Dubai to facilitate financial and commercial operations.

Registration for Value Added Tax (VAT)

If a company’s sales exceed the mandatory registration threshold, it must register for value added tax (VAT) with the Federal Tax Authority.

Learn about the costs of setting up a company in Dubai

Establishing a company in Dubai is a crucial strategic step for investors seeking to benefit from the thriving economic environment and vast opportunities offered by this global city. In cooperation with Itqan Company, it provides the opportunity for investors to achieve their goals efficiently and effectively, focusing on the challenges of the beginning and providing innovative solutions that contribute to the success of new companies in the regional and international business market.

Establishing a company in Dubai comes with significant financial costs, but investing in this process brings many benefits in the long term. Basic costs include registering the company, establishing it, obtaining the necessary licenses, in addition to ongoing administrative and operational costs. On the positive side, Dubai offers a transparent and efficient investment environment, with advanced infrastructure and continuous government support.

Thanks to the expertise and guidance provided by Itqan, investors can overcome the financial and legal challenges they may face, and achieve sustainable success in the local and regional business markets. In conjunction with the ongoing economic developments in Dubai, investing in establishing a company there represents a distinct opportunity for growth and expansion, making it an ideal destination for entrepreneurship and achieving lasting success.

Frequently asked questions about the costs of setting up a company in Dubai