Are you an ambitious entrepreneur seeking a dynamic and thriving market to expand your business? Look no further than the United Arab Emirates! With its forward-thinking approach to development, the nation presents a highly promising business environment for entrepreneurs from around the world.
Here, we present four essential reasons to expand your business in Dubai:
1- Taxes in Dubai: No Income Tax & Full Repatriation of Profits and low corporate Tax regime
The taxation laws in the UAE are notably favorable when compared to those in many other countries worldwide. As Dubai continues its ascent to becoming a highly competitive global business hub, it has attracted both startups and established businesses seeking a tax-free environment for their operations. Dubai’s residents benefit from tax-free income, as there are no taxes imposed on personal income or profits. The prospect of retaining every hard-earned dirham is undoubtedly appealing. By registering your business in tax-free Dubai, you can enjoy the full fruits of your labor while securing your residence.
While the focus of our discussion is on tax-free income, it’s worth mentioning that the UAE has entered into double taxation agreements with several countries. These agreements ensure that entrepreneurs can conduct their business without the concern of dual taxation, providing further peace of mind for international business endeavors
2- A Strategic Location and Growing Business Hub
Another significant benefit that Dubai offers is its strategic global location, serving as a pivotal point that facilitates robust trade connections with major cities like Moscow, Hong Kong, London, Hamburg, and more. Positioned as one of the world’s premier trading hubs, Dubai has witnessed remarkable trade expansion and hosts over 100 international trade exhibitions each year. For businesses operating in Dubai, participation in these exhibitions presents a unique opportunity to connect with multinational corporations and explore additional avenues for growth without disrupting your day-to-day operations.
3- Easy and Smooth Banking Solutions in Dubai
An efficiently organized banking system plays a pivotal role in enhancing business operations and meeting growth needs. The prosperity of a company is significantly influenced by the availability of suitable credit options, seamless banking processes, and access to banks with a global footprint. For businesses registering in Dubai, these crucial elements pose no hindrance. When planning a business setup in Dubai, you can readily establish an account with one of the international banks operating here. This provides you with convenient access to credit facilities, fostering the expansion of your business within the Tax-Free Zones.
4- Dubai Residence Visa: Easy and quick process:
Dubai’s visa regulations are notably welcoming to expatriates. Establishing a business in one of Dubai’s free zones not only grants you a residency visa but extends this privilege to your family members and employees. Your visa offers various advantages, including:
- The option to open a local bank account.
- Access to long-term housing leases.
- Freedom of movement within the UAE.
- Obtain a UAE driving license
Ready to start your business in Dubai?
Here’s the guide to get your trade license and residence as well as your Business bank account:
Step 1: Choose your activity: The Dubai Department of Economic Development offers over 2,000 activities that you can choose.
Step 2: Select the legal form of your company: free zone or mainland: If you are looking to setup in a free zone, you’ll benefit from 100% company ownership, 100% repatriation of capital and profits, no currency restrictions, and 100% import and export tax exemption. If you doing business locally and distributing to the local market, you need to get a local partner (Distributer company registered in the mainland)
Step 3: Choose a trade name: You’ll need to respect the UAE’s rules and regulations. Our Business setup advisor will assist you.
Step 4: Get your Trade License: Whether you choose to establish your business in a free zone or the mainland, you typically need just a few standard documents, such as a completed application form and copies of shareholder passports, among others
Step 5: Apply for your visa: The final stage of the business setup procedure involves immigration and visa processing. Our Business setup advisor will assist you with the entire process of obtaining the residence visa for you, your employee as well as your family.
Step 6: Open a bank account: Once you have obtained your license, you gain the freedom to establish a UAE corporate bank account, with a variety of options available from international, local, and Islamic banks operating within the UAE. All banks offer many facilities such as digital mobile banking, Multi-currency accounts, Bank cards .. etc.