Company setup in Dubai has always been a burning ambition of many business owners from all over the world since it is a rather luxurious experience that boosts reputation.
Company setup in Dubai has always been a burning ambition of many business owners from all over the world since it is a rather luxurious experience that boosts reputation. However, it is not an easy task. You need to be familiarized with all the rules and regulations concerning business in the UAE and to choose the most suitable location.
Ways of Setting up a Business in Dubai
According to your business goals, type of business, and financial possibilities, you can open a local company or register your business in a certain free zone. The first option has more requirements, but it is more preferable if you are planning a large-scale project involving cooperation with the government or participation in various public tenders.
Besides, you need to find a local investor who would not bear responsibility for any activities of the company but would own 51% of shares and receive a financial reward every year. There are also a lot of important details concerning capital, visa, registration, taxes, bank accounts, and so on, which should be taken into consideration.
Another more popular option is to set up a business in a free zone that provides for a more simplified procedure of registration. In this case, you can have 100% of foreign capital and get profitable rental and tax conditions. However, every zone has its specification on the base of the business type.
Setting up a Company in Fujairah Free Zone
Fujairah Free Zone offers five types of licenses, which makes it rather attractive for foreign business owners:
- Industry license is suitable for a manufacturer of any type since it enables one to pay a certain customs duty and export produced goods;
- Service license is used in all free zones, and it is suitable for companies dealing with media, marketing, management, etc;
- Holding license is available exclusively for holding companies;
- Trade license enables you to trade any products or a certain group of goods;
- Consultancy license is suitable for firms operating in the sphere of consultancy.