Business formation in Dubai can be both exciting and bewildering. Gleaming skyscrapers add to the general buzz of a city which is booming. However, Dubai business set up is, unfortunately, still a challenge because of unclear regulations on business formation in Dubai. High government fees at almost every stage of starting a business in Dubai, and sheer demand for business formation in Dubai, causes delays to the Dubai business set up process. The following information paints a definitive guide to Dubai business set up pros, cons and procedures:
- When starting a business in Dubai, investors should budget to spend up to US$60,000 to successfully complete all aspects of the Dubai business set up project.
- The lead time for starting a business in Dubai varies depending on the type of company that is being set up. For example, incorporating a Dubai LLC takes approximately 14 weeks, while incorporating a Dubai offshore company normally takes at least nine weeks.
- Business formation in Dubai is the ideal way for international traders to legitimately book profits without paying local corporation tax. In addition, since Dubai is a respected trading jurisdiction Dubai business set up projects a positive image to your clients.
- If starting a business in Dubai to conduct trading solely outside the UAE, it is not necessary to rent an office or employ staff in Dubai.
- If starting a business in Dubai to trade within the UAE as a branch of a foreign company, it is necessary to appoint a UAE national as a 51% shareholder. Prior to business formation in Dubai, Shuraa Management & Consultancy LLC will introduce you to a bona fide UAE businessman who has acted as the nominee shareholder for many of our clients.
- Foreign investors who want complete control of their Dubai company opt for business formation in Dubai Free Zones. A Free Zone company allows for 100% foreign ownership.
- Starting a business in Dubai Free Zones often requires high levels of paid up capital. For example, in Jebel Ali Free Zone, a Free Zone Establishment (FZE) requires a paid up capital of US$272,000.
- According to the Global Competitveness Report 2009-2010 by the World Economic Forum, the UAE has the world's 23rd most competitive economy. Investors starting a business in Dubai often comment on the highly competitive nature of the local economy.
- To support Dubai business set up, Shuraa Management & Consultancy LLC helps to open a Dubai or international corporate bank account for our client. The bank account is with a leading international retail bank and includes world-class multi-currency Internet banking facilities. Shuraa Management & Consultancy LLC works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services.
- To support business formation in Dubai, Shuraa Management & Consultancy LLC helps obtain Dubai residence and employment visas for many of our clients.
- After starting a business in Dubai, some of our clients ask for assistance in preparing and submitting annual accounts to the Dubai authorities.
- After starting a business in Dubai, some of our clients request our help with website creation, search engine advertising, stationery and logo design. Few other corporate service providers offer this 'one-stop-shop' Dubai business set up service.
- Following business formation in Dubai, Shuraa Management & Consultancy LLC provides our clients with Dubai Virtual office services if required. For example, to support Dubai business set up, Shuraa Management & Consultancy LLC offers a local business address in Dubai for invoicing, as well as telephone, fax and email support.
- Business formation in Dubai is often followed by assistance with obtaining corporate finance, trade finance and to open merchant accounts. Shuraa Management & Consultancy LLC will shop around and locate the optimum financing product and strategy after starting a business in Dubai.
- Following business formation in Dubai, we value the opportunity to receive feedback from our clients as to how smooth the Dubai business set up process was. Thus, we will email an Engagement Feedback Survey.
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