Dubai is one of the fastest-growing economies in the world, thanks to its tax-free economy, business-friendly environment and is the most liberal environment to set-up a business in the middle east region. Dubai has become a very attractive business hub for business owners worldwide.

Setting up a company in UAE is actually quite easy, if you take your time to plan effectively and figure out all the details you may need and with a good business consultant by your side, the sky is your limit. It is essential to find out all the procedures and requirements for setting up a company in the UAE. Due to lack of experience, you may struggle with administrative issues while setting up your business in the UAE.

Before you venture into setting up your business in the UAE, it is very important to take certain key factors into considerations.

Here are some facts about setting up a company in the UAE you should get acquainted with before launching your business in the region;

About UAE

Aside from Dubai, there are six other emirates in the United Arab Emirates with Abu Dhabi being the federal capital. The country shares border with Saudi Arabia and Oman. The total population of the country is now estimated at 4.1 million with 80% being foreigners. The UAE consists of seven First different emirates namely;

Dubai

Abu Dhabi

Sharjah

Ras Al Khaimah

Ajman

Fujairah

Umm Al Quwain

Each Emirates in the UAE has its own different procedures, requirements, rules, and regulations to setup a business in the region. Do proper research of your product/service to know where your target customers are located within the Emirates, find out if your business meets the requirements of the emirate you plan to setup your company.

Types of company formation

There are 2 types of company formation in the UAE;

Free Trade Zone onshore or offshore company. (There are over 30 free zones in the UAE with foreign investors having 100% Ownership)

Department of Economic Development (DED) is referred to as a local company. Some business activities require a local sponsor. (51% shares owned by local sponsor).

Legal Structure of your Business

Determining Legal documents and Economic Activity Type of the Business you plan to setup.

Location

Determining the most suitable location for your business in the UAE.

Budget

Determining the cost of setting up a company in different Emirates.

Finally;

UAE has become a major business center with a more dynamic economy. Trying to explain all the dynamic UAE has to offer is almost impossible. As one of the world’s fastest-growing economies, this is a country of vast opportunity. There are so many benefits of setting up a company in the UAE, which we will discuss in the next post.

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