Do you have a great business idea but don’t know where to start? Or are you looking for a new and exciting destination in which to set up your business? Then look no further than Dubai! The emirate is one of the most welcoming environments on earth for foreign investors, and it’s easier than ever to do business here.
Can a foreigner start a business in Dubai?
The answer is a resounding yes! Not only can foreign businesspeople take advantage of the UAE’s 0% tax rate on corporate and personal income, but they are also now free to retain 100% business ownership in most cases. Other recent changes include the long-term visa which allows foreigners to stay in the UAE for extended periods and potentially retire here at the end of their career.
With the right support, starting a business in the UAE is so easy that even non-residents can set up here and run their business from anywhere in the world. So if you’re ready to take your business idea to the next level, read on to find out how!
Types of business licenses in Dubai?
The first step to starting a business in Dubai is to obtain the correct business license. The type of license you’ll need will depend on the nature of your business. For example, if you’re setting up a restaurant, you’ll need a food and beverage license. If you’re planning to open a shop, you’ll need a retail trade license.
There are over 70 different types of business licenses available in Dubai, so it’s important to seek professional advice to ensure you apply for the right one. The team at Limitless Business can help you with this and with every other step of setting up your business in Dubai.
How to start a business in Dubai as a foreigner?
The internet has made it easier than ever to do business in Dubai, regardless of where you are in the world. If you have an internet connection, you can set up your business here without even stepping foot in the UAE!
The first step is to choose a business structure and register your company with the DED or free zone authority. Once you have your trade license, you can start trading online.
If you’re not based in Dubai, there are a few extra steps you’ll need to take to get started. You’ll need to appoint a local service agent and set up a virtual office.
Step 1: Work with Limitless Business:
If you’re a foreigner or non-resident looking to start a business in Dubai, the best place to start is with the experts at Limitless Business. We are available for all your business setup needs, and we can help you every step of the way, from choosing the right business license to setting up your office.
Step 2: FreeZone or mainland:
The next step is to decide whether you want to set up your business in a free zone or on the mainland. Free zones offer 100% foreign ownership, tax-free profits, and flexible company structures. Mainland companies can trade with businesses in the UAE and abroad, but they must have a local partner who owns 51% of the business.
There are over 40 free zones in the UAE, each with its own benefits. The team at Limitless Business can help you choose the right free zone for your business.
Step 3: Apply for your license:
Once you’ve decided on the type of license you need, it’s time to apply for it. The application process varies depending on whether you’re setting up a mainland or free zone company.
Mainland companies must first obtain approval from the relevant government authority before they can apply for their trade license. Free zone companies can apply directly to the free zone authority.
To find out more about starting a business as a foreigner in Dubai, contact Limitless Business today. We can help you with everything from trade license applications to company registration and visa arrangements.