Dubai is among the most famous business environments in the world. A growing economy, a strategic global location and an incredibly attractive fiscal regime have made it the destination chosen by ambitious entrepreneurs from all corners of the world.
But bright lights and the big city can also be daunting. For this reason, many entrepreneurs feel that in order to succeed in the Emirates, they must have significant initial capital. This could not be further from the truth.
Dubai is home to the low-cost commercial setup. In fact, the cost of setting up business in Dubai is lower than in many other major cities in the world, thanks to the lack of corporate and personal income taxes and a highly accommodative trade regulation.
Installed in a free zone and the cost of the business configuration falls even more. However, whatever configuration you choose, registering a company in Dubai is so easy that it can be completed in just a few steps.
How to start a business in Dubai with less money?
The factor that may have the greatest influence on the cost of establishing a company in the United Arab Emirates is whether you choose a free zone or a continental configuration.
While both can be achieved with a limited budget, the all-in-one nature of free zone configurations can make it one of the most cost-effective ways to register a company in Dubai.
If your main objective is the budget, start looking for the cheapest free zone that suits your needs. In addition to the price, there are many advantages to installing in a free zone.
In addition to benefiting from the zero percent tax rate of the UAE, you can also take advantage of the total exemption from customs taxes, without monetary restrictions and the ability to repatriate 100% of your capital and earnings.
However, if you want to contract with the government or trade directly with the local UAE market, then you must establish a continental business. Depending on the nature and size of your business, this can still be done profitably.
An expert in business formation can help you decide the configuration that best suits your needs and your budget.
Establish a business in the UAE
Regardless of your budget, the process to establish a company in the UAE follows the same simple steps.
The first is to establish your business activity or activities. There are more than 2,000 allowed by the Dubai Department of Economic Development (DED), which cover all types of sectors and subsectors.
However, although there may be a great choice in the activities you can carry out, it is vitally important that you list them correctly in your license application. Undertaking business activities without a license may result in penalties, so it is better to work with a business training specialist who can suggest the best options for your organization.
Next, you must choose a business name. While this may seem like an obvious point, it is worth mentioning here because of the strict set of UAE naming conventions that may not be familiar to anyone outside the region.
Paraphrasing the rules around company names: when choosing a name for your business in Dubai, you should keep in mind that it cannot include any offensive or blasphemous language, nor references to Allah or Islam. If you want to include your name in the name of your company, you must use it in its entirety instead of just your last name or initials. Finally, you must verify that your chosen name is available for registration. Once again, an expert in business formation can help you with this step, making suggestions and verifying that your chosen name is free.
Make your license request
As mentioned earlier, if you want to keep costs to a minimum, the best advice is to find a low-cost free zone license.
Business Link UAE helps you find the cheapest free zone that meets your needs.
We can further guide you with the two steps to this stage of the process. The first is to establish the type of business license you need. This is relatively simple. If you want to perform professional services, you will need a professional services license, if you intend to carry out industrial activities, you will need an industrial license, etc.
Now that you know the type of license you need; you can make your formal request. Registering the free zone company in Dubai is incredibly simple and simply requires that you submit a complete application, along with some basic documentation about you and your company.