Today’s business and corporate world has changed magnificently compared to past years. Entrepreneurs are exploring different countries to set up their own businesses and companies. It is seen that most successful running business concerns also look for various expansion plans and set up branches in different cities outside their home country. Dubai is one of the popular cities in the UAE and a business hub for many years. Dubai is considered the most suitable place for establishing a company or having a business venture. The government of Dubai city has welcomed other countries of the world to set up their business venture in Dubai. It is a financially stable city that encourages other countries’ corporate to invest. Company formation in Dubai by entrepreneurs and corporates has many advantages.
Benefits of Company formation in Dubai
For those planning to start a business in Dubai by incorporating a new company, here are some benefits they get from establishing a company in Dubai.
Ease of starting a business
Dubai is well versed in the latest technology and liberal government policies encouraging the people to form a company and do business projects. The company formation process is easy, requires less paperwork, and can be completed in just a few steps. Various business consultants are available to help new entrants set up a company in Dubai.
Free zones availability
Dubai is the only city with more than twenty free zones where the business owners can form their own company with hundred percent ownership. The best thing is that the owners can repatriate the profit and capital invested to their countries. They even have the option to collaborate with other business concerns in free zones having a similar business.
Dubai is a city bestowed with many technological advancements. Advance technology has made this city the most preferred location for the formation of companies. Better e-commerce, health care, internet services, and connectivity make Dubai the preferred place for forming a company and doing business projects.
Easy visa process
Those who wish to start a company in Dubai can apply for a residential or employment Visa and can obtain it easily. After receiving a visa, business owners can move to other countries and rent or lease property.
Foreign investors and business owners are welcome with open hands in Dubai. The government has provided various incentives, facilities, and support to the new foreign entrants. It has liberal business and trade policies to help foreign concerns establish its business projects. The government keeps on changing the rules and regulations for ease of doing business.
Dubai is a better location as it connects with all the countries. It has better airline connectivity suitable for logistics and connecting various manufacturers & suppliers across the countries.
Company formation in Dubai requires choosing the perfect location. There are many locations in Dubai where a company can be formed such as Mainland, Free zone, and offshore jurisdiction. In Mainland and Free zone, business owners have the advantages of tax incentives, full ownership, and profit repatriation. Apart from the location, it is necessary to choose the form of business organization. Company formation in Dubai can be in many forms; Limited liability company, professional company, branch office, and joint stock company. The necessary documents required for company formation in Dubai are:
- Application form of the Business.
- MOA and AOA of the Company are duly notarized by the desired authority.
- Passports of the owners (copy).
- Passport of Sponsor stating that he/she is UAE National (copy)
- NOC from the Sponsor
- Reference Letter of Each Shareholder.
- Others based on the activity of the business
Dubai is the best place if you are a business owner and desire to expand your business organization in favorable foreign countries. Get the best consultation to form a company in Dubai by Spectrum.
Reach out to Spectrum Auditing for any details pertaining to Company Formation or Business Set Up in Dubai or across UAE. Call us today for any kind of assistance at +971 4 2699329 or email [email protected] to get all your queries addressed. Spectrum is your partner in your success.