Company formation in Dubai also known as company incorporation in Dubai is a process of legally registering a company in Dubai under United Arab Emirates (UAE) law in the department of Dubai Economic Development or Free zone also known as free trade zone. Company formation process includes official documents and paperwork which defines the type of business or trade the company can do.
In order to start a business in Dubai, you need to first select the place in which you want to start a business you can either form a company in Dubai’s mainland or in any Dubai free zone. Each country has its own procedures and regulations that need to be followed while starting or registering a company. Company formation in Dubai also includes some rules and regulations that are supposed to be followed:
• Select a business activity.
• Select a legal form for your business.
• Select a company/trade name.
• Initial approval certificate.
• Draft moa and local service agent agreement, if required.
• Establish your business location.
• Get the license for specific business activity.
• Get your business license.
BENEFITS OF COMPANY FORMATION IN DUBAI:
There are numerous benefits of forming a company in Dubai:
• Due to the drastic evolution from a local trading community into a leading business hub of the Middle-east, it is now an immensely attractive place for business tycoons and tourists. Dubai is now called as a global hub for business and a golden mine for all the business owners across the world. Due to the matchless facilities, investors and entrepreneurs conduct their businesses in Dubai with confidence.
• Dubai is the first emirate within UAE to open its property market to foreign ownership and has highly encouraged the foreign investments. In Dubai, foreign investors can enjoy 100% foreign ownership of their companies.
• Dubai is the most successful city in Middle East region &a trade hub with no taxes.
• There are no corporate or personal taxes to be paid by the companies. Only the banks and companies engaged in the oil sector have to pay the corporate taxes.
• Offshore company formation in Dubai takes only 24 hours.
• After the recession in Dubai, it has been economically ranked as the most successful economy within GCC region. In 2011, Dubai’s economic performance increased at a great rate.
• Dubai has the world’s modern infrastructure which attracts the investors towards it. Its two ports-Port Rashid and Jebel Ali port are famous ports in the world. Jebel Ali port is one of the modern and busiest port having 63 berths in it. Port Rashid is the busiest port in the Gulf region and has 35 berths in it.
• Dubai also houses two major airlines such as Emirates Airlines which is the Arab’s largest airline with around 120 destinations and 160 aircraft and fly Dubai. If you are pursuing international trade through Dubai then Dubai’s excellent communication infrastructure can be highly beneficial to you.
• Dubai welcomes around 20 free zones & is an open trading hub that offers a free and an open trade allowing more than three-quarters of tax-free goods entering in the emirate. Every free zone is provided with all those facilities that are required by your business needs.
• Dubai allows private sector businesses to recruit emigrant workers at an internationally competitive wages via Dubai’s open-border foreign labour policy.
• There are around 200 nationalities in Dubai due to the fact that Dubai is one of the safest places on the earth. It has a low crime rate with a fair judicial system resulting more and more arriving at Dubai in every cosmopolitan year.