If you want to register a company in UAE, you need to follow extensive procedures. Any company being formed in the country needs to follow all the rules set by the government.
Entrepreneurs across the world have been attracted to setting up a company in Dubai. Whether you want to operate the business from your home country or relocate, you need to be careful. Emirates has shown massive development in the past few years.
Progressive Growth of UAE
The aggressive, progressive, and liberal growth policies of the country have contributed to its massive success. Dubai has a very strategic location which is why everyone wants to register a company in UAE.
Furthermore, the country is changing from physical to digital businesses. It won’t be wrong to say that the UAE is adopting everything carefully. Entrepreneurs do not have to worry about taxes as well. UAE also aims at increasing or contributing towards the growth of the economy through foreign investments.
Take a decision
The company registration in Dubai can bring you several benefits. However, it is still advisable to take a proper decision of whether you want to set up the business or not. Depending on the nature of your business, you may either start a new venture or expand the existing one.
Once you finalize the decision, you need to understand where you want to establish the business- free zone or mainland. The place you choose for setting up the business will eventually help to decide the limitations and growth opportunities.
Register company in UAE Free zone or Mainland?
Entrepreneurs have had a tough time deciding where to opt for company registration in Dubai. Free zone company set up in the UAE has several perks. However, if you plan to establish your business in the free zones, you won’t be able to conduct direct business within the UAE. Businesses will be restricted to doing business only on the national border and trading within the zone.
Many free zones have a strategic location, which is why setting up a business there can be fruitful. However, it is necessary to be familiar with the rules to register a business in UAE. Mainland offers more flexibility to business owners. They don’t need to be bound by the borders and are free to operate their business. Furthermore, a mainland business setup can also contribute towards getting a better talent pool and entering the UAE market.
Can I register company in UAE without living there?
One of the best parts about company registration in Dubai is that you don’t have to be a full-time resident. You don’t need to be bound by any geographical borders to get successful.
While staying in UAE can help you attract various benefits, not staying there and operating your business is a feasible option as well. The government does give you the flexibility to start your business from afar.
However, you will need to address certain issues initially to ensure you get to settle your business properly.
How many days per year does one need to be in the UAE?
If you are not going to stay for a long term to operate your business in the UAE, you will need to apply for a relevant visa. However, the duration for spending time in UAE to establish business will vary depending on the country you’re from.
If you are not staying in the UAE as a full-time resident, there is no need to spend time here. Nonetheless, it is advisable to visit UAE occasionally to ensure successful business operations. It will also help you keep a check on your business management strategies.
How will it impact your business?
If you are a non-resident, you need to know what the visa requirements of the country are. The permit or entry visa will stipulate the number of days for which you can stay in the UAE.
According to the law, GCC countries’ citizens do not need a visa. However, they need to show their passport while entering the UAE. Furthermore, citizens from Australia, China, and the USA will have the flexibility of a 30-day visa on arrival. There are other countries that can get visas for up to 90-days. The complete information about the same is mentioned on the official government website of the UAE.
The government also provides the flexibility of renewal or free visas. If you are not eligible for applying for a visa in the UAE, you need to have an entry to permit approval. This is usually provided by a sponsor such as the free zone, a private company, or an Emirati citizen.
After obtaining the permit, you will be allowed to stay for a maximum of 30 days from the date of entry. Furthermore, you will also need to apply for a residence visa that can allow you to stay for three years. This may however come with certain terms and conditions. This is a little complicated which is why you need to get in touch with a local agent. Business Link UAE has been helping businesses establish themselves in the UAE.
Can you have a power of attorney for businesses?
If you want to operate your business in the UAE from afar, you should consider appointing a power of attorney. They will be handling all the complex business matters for you. You may appoint an organization or person to conduct your business.
Will a power of attorney affect your business?
Appointing a power of attorney will prove to be extremely beneficial for your business. They will ensure that you smoothly conduct your business. The power of attorney will need to look over business transactions, settle claims and employ professionals too.
If there are any extra duties that you want your power of attorney to do for the business, you need to sign a document. However, Whenever you hire a power of attorney you need to choose professionals. You need to choose a trustworthy person who can help you get maximum results for your business.
You may as well choose a professional director to look over your business. Nonetheless, before appointing anyone the power of attorney, you need to determine how much power you’re bestowing upon them. You should understand how much they know about the business and what they can handle.
Should you pay tax on the income you make in the UAE?
This is not necessary. However, it will depend on your country of residence. If you have a resident visa and stay in the UAE for at least six months, you are considered a tax resident. However, the income tax amount in the UAE is 0% so you don’t have to pay any of it.
Is there any consideration for taxes?
There are countries that follow certain factors. UAE does not have any double tax agreements. As a result, you can avoid paying the tax. However, this will only be valid if your country falls under that list.
There are several exceptions as well. It is for this reason that you need to get in touch with professionals. At the same time, it is crucial that you don’t do any illegal activity.
This will lead to the cancellation of your business registration in the UAE. Furthermore, not abiding by the law will also require you to pay financial penalties and get involved in any criminal conviction.
UAE business owners can operate a business from wherever they wish to. However, it is necessary to work in close association with a local agent. Business Link UAE has been helping businesses over years establish themselves in UAE. Connect with us if you need any information regarding business activities in the UAE.
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