In Dubai, there are three business setup options, and the choice depends on the specific requirements of your business.

Setting up a business in Dubai is a straightforward and efficient process, particularly when utilizing a specialist consultancy to manage all aspects on your behalf. Dubai offers low taxation, with a VAT rate of 5% which was introduced in 2018 and a corporate tax of 9% which was introduced in 2023. Notably, free zones are entirely tax-exempt. Establishing your company in one of Dubai’s 30 free zones allows for 100% private ownership and the repatriation of capital and profits.

Onshore Company Formation As an onshore company, you have the ability to conduct business with other mainland enterprises, companies situated within free zones, and those outside the UAE.

Offshore company formation is particularly advantageous for non-residents of Dubai. While a virtual office is required instead of a physical location, this arrangement offers enhanced confidentiality in financial matters.

Businesses established in a free zone enjoy unrestricted trade with other companies within the same zone. Additionally, they have the opportunity to own office space and benefit from superior tax advantages compared to other options.

To apply, you must demonstrate prior experience in establishing a business and have plans to do so in the UAE. Additionally, you must present a business plan or idea that showcases your entrepreneurial aspirations in the country.

The method by which you establish and register your business will influence the necessity of obtaining office space in the UAE. For instance, an onshore business must maintain a physical office space, which can be either a privately owned office or a shared co-working environment. Typically, some form of physical office, such as a flexi-desk, is necessary for operating within a freezone. In contrast, offshore companies have the option to utilize a virtual office as their base.

Professional License is suitable for individuals seeking to practice in a profession for which they are qualified or trained. It encompasses a wide range of fields, including graphic design, carpentry, security services, and consultancy services.

A commercial or trade license is ideal for manufacturing or industrial activities in the UAE, allowing you to process goods using raw materials.

In the UAE, additional licenses are available for various sectors, including craftsmanship (such as plumbing and electrical work), agriculture (farming), and tourism (hotels and restaurants).

Compliance regulations in the UAE are stringent, presenting unique challenges for those unfamiliar with trading in the country.

There are four primary types of banks in the UAE: commercial, industrial, investment, and Islamic banks. International banks are also established in Dubai, which may facilitate the process if you already have an account with one of these institutions. Regardless of whether you apply online or in person, you will eventually need to visit the bank to submit your documents and sign necessary agreements if your application is successful.

The documentation you are required to submit includes:

• Share Certificates

• Memorandum and Articles of Association

• Trade License

• Completed Application Form

• Resolution from the Board of Directors

• Certificate of Incorporation

• Passport Copies of All Directors and Shareholders

Depending on the bank you are applying to, you may be required to provide additional documentation and information. Additionally, a minimum bank balance must be maintained throughout the account’s duration.

GLEEFINITY is a specialized corporate service provider focused on the establishment, registration, and management of new businesses in Dubai. We offer expert advice and guidance to streamline the process. With extensive experience, we assist onshore, offshore, and free zone organizations in setting up operations and provide long-term administrative support once you are actively trading in Dubai.

Dubai offers numerous opportunities, and a strong start can significantly enhance the growth of your new venture. Discover how our Dubai business setup services can assist you by contacting a member of our team today.

We possess comprehensive expertise in the incorporation process and offer personalized advice tailored to your specific needs. Our seasoned consultants will guide you in selecting the appropriate legal structure, considering the nature of your business activities. By gaining a thorough understanding of your business, we can assist you in navigating the LLC process in the most advantageous manner.

GLEEFINITY is equipped to handle all essential documentation for the LLC formation process, including visa procurement and the establishment of business bank accounts in the UAE. Additionally, we can assist in locating a local UAE partner to meet government shareholder requirements.

We will handle all necessary documentation steps, including the required translations into Arabic and notarization. We will oversee the application process at every stage, managing all administrative tasks to allow you to concentrate on launching your business.

For inquiries regarding the establishment of an LLC company in Dubai, please reach out to GLEEFINITY. We are available at your convenience to assist you in setting up an LLC to enhance your business growth.