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Our efficient business set-up consultants help you to setup your business in Dubai in the most efficient way possible. From deciding your company category to issuing visas to your employees, we stand to serve you best.
You need to have a local sponsor to open a mainland company in the UAE. We provide an affordable local sponsorship with our company formation process. These local sponsors also provide active support in case you need any kind of assistance.
Complete assistance in all activities related to starting as well as closing down a company in Dubai. UAE updates its legal regulations periodically. This makes having an expert partner to handle activities related to company formation and liquidation a necessity.
We provide typing services for all documents that require notarization. Our experts will type out your document as per your needs, within the established legal framework. Our services cover memoranda of association, share contracts, partnership agreements, and sponsorship agreements.
We provide typing services for the Power of Attorney documents. Power of attorney lies in the one who has the authority to act for another person in financial or legal matters. There are various types of powers of attorney as per their responsibilities.
Assistance in trade license modification, which has got standardized procedures as per the UAE government guidelines. Trade licenses differ as per business type and they must be changed as per the rules if one is changing the type of their business.
As per the latest law, professionals engaged in specialized services, like doctors or chartered accountants with non-UAE citizenship can have 100% ownership of the businesses related to their professions. Mainland registration, in general, offers 51% ownership to UAE citizens, who will be the sponsor, and 49% ownership to others. Companies under Dubai mainland will have an LLC (Limited Liability Company) registration. Dubai mainland companies can do business with anybody from any location. Additionally, there are no restrictions to the type of business one can do under mainland registration.
Free zone registration provides 100% ownership to foreign citizens who want to start their business in Dubai, with certain restrictions. Companies in free zones are only allowed to do business with parties outside the UAE and those in free zones. Only certain types of businesses can get free zone registration. Free zone companies are eligible for incentives like complete exemption in a corporation, personal, as well as import and export taxes, 100% repatriation of profit and capital, etc. Compared to the mainland, the cost of registration is also less in free zones.
Offshore companies are those that are registered in Dubai, but can be based outside the emiratebor the UAE. They can be listed as limited liability companies, limited companies or limited partnerships. Offshore companies are a popular option among entrepreneurs in Dubai because they are easy to set up, are cost efficient and offer tax benefits. However, these companies are subject to certain limitations in terms of the activities they can engage in, such as banking, media, and insurance.
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Starting a company in Dubai can seem like a daunting task, but it isn’t. In fact, Dubai is known for its business-friendly policies and regulations. This is what makes it the number one global trade hub in the world.
In general, company formation in Dubai is considered to be a simple and quick process.
Here are the steps involved: .
1. Deciding the company name and type.
Deciding what type of business you are going to do. This has importance since some free zones do not allow certain business types. Anyway, clarty and planning is a basic necessity for the success of any business & is considered as a first step in starting a business. The UAE has put some restrictions in naming a company, like it should not include offensive language, should not refer to any religion, community, groups, political parties, government departments, should not include the name of a person who is not a business partner, should not include initials or abbreviations, etc. .
2. Completing paperwork.
Apply for your chosen company name and business activity through the existing procedures. Copies of the stake holder’s passport will be required to be submitted. Some free zones ask to submit a Non-Objection Certificate (NOC) from your sponsor and a business plan. .
3. Getting licensed and setting up a bank account.
The UAE government will issue the license after the standard processing of your application. After getting licensed, there is a need to set up a bank account. Dubai has many national as well as international banks, which can be approached to open a corporate bank account. .
4. Visa processing.
The general steps in visa application are, .
Entry permit – Allows foreigners to legally enter and stay in the UAE for a time period. .
Status adjustment – To extend or change the status of the visa. .
Medical fitness test – Done from a government medical facility in the UAE as per guidelines. .
Emirates ID registration – To include your details in the database of the UAE residents. .
Visa stamping – Indicates the eligibility to enter the UAE.
To get a business license, you need to get the necessary approvals from the Dubai government’s economic department. To get the necessary approvals, there are documents that need to be submitted to the government. These include the trade name certificate, a memorandum of association in the case of LLCs, and passport copies of company partners.
An experienced consultant like Business Time can take over this process for you. We can handle all the paperwork involved and get all the necessary approvals.
Before going to the processes in starting a business in Dubai, it is important that you understand what is Dubai mainland and Dubai freezone. What is suitable for you will depend on the needs of your business. Here is how they are different:
Dubai Mainland
Mainland registration offers 51% ownership to the UAE citizens, who will be the sponsor and 49% ownership to others. As per the latest law, professionals engaged in specialised services, like doctors or chartered accountants with non-UAE citizenship can have 100% ownership to the businesses related to their professions. Companies under Dubai mainland will have an LLC (Limited Liability Company) registration. Dubai mainland companies can do business with anybody from any location. Additionally, there are no restrictions to the type of business one can do under mainland registration.
Dubai Free Zone
Free zone registration provides 100% ownership to foreign citizens who want to start their business in Dubai, with certain restrictions. Companies in free zones are only allowed to do business with parties outside the UAE and those in free zones. Only certain types of businesses can get free zone registration. Free zone companies are eligible for incentives like complete exemption in a corporation, personal, as well as import and export taxes, 100% repatriation of profit and capital, etc. Compared to the mainland, the cost of registration is also less in free zones.
If you do not have the need for an office you can get your company registered virtually.
A virtual office that has a monthly or yearly fee. You get an address and phone number with a dedicated receptionist to receive phone calls on your behalf or transfer calls on demand.
You will also get a secretary on demand to run errands as well as mail management services.
A virtual office offers several advantages such as the freedom to work from any location of your choice , flexible work timings and the opportunity to save on transportation.
Besides this, it also gives credibility to a solely online enterprise.
Business Village is a vibrant and growing entrepreneurial hub in the heart of Dubai.
What sets it apart from other business centres in the emirate is its favourable location and cost-efficiency for all types of outfits irrespective of industry or sector.
Business Village, located next to Dubai’s historical Clock Tower, is home to several notable companies, ranging from start-ups to decade-long establishments.
It offers the right mix of conditions for companies to grow and thrive. It fundamentally serves as a mix-use business incubator, being surrounded by organisations that support and provide services to start-ups and small and medium companies (SMEs) .
Here are the top 5 reasons why Business Village acts as an incubator for start-ups and SMEs and why you should start your proprietorship journey in the UAE here:
1. Proximity to government buildings.
Business Village is strategically located close to numerous government offices.
It is home to Dubai’s Department of Economic Development (DED), the authority that provides licences to new companies in the emirate.
Some of the other agencies in the area that are important to new company holders include the Ministry of Foreign Trade and the Foreign Direct Investment Office.
2. Proximity to institutions.
Several notable banking agencies and financial enterprises in Dubai have a branch in Business Village. Some of the most notable ones in the area include Noor Bank, Mashreq Bank and Dubai Islamic Bank.
3. Ease of access and prime location.
Business Village, located in the heart of Dubai’s Central Business and Financial District, is conveniently situated at the crossroad of Dubai’s major streets, making it an easy spot to access via car or bus. It also has two metro stations nearby. The offices in Business Village have ample parking facilities and are located close to many retail outlets and restaurants.
The locality also offers several good spots for business luncheons and there are numerous commercial establishments and key industry players around the vicinity for your company’s B2B needs.
4. State-of-the-art offices.
At Business Village, you can rent an office space in the heart of Dubai.
The Business Village complex is well maintained and managed to be a high-end facility with state-of-the-art facilities.
Business Time can provide you access to a wide selection of turnkey offices that are ready to use. We have an array of fully serviced offices, executive suites and meeting rooms.
In case you have an e-business, we can help you set up a virtual office. We provide single workstations or multiple offices depending on your business needs.
All the offices are fully furnished and leasable on flexible terms. Meeting rooms are also available with hourly access.
5. Cost effective.
Easy commune options, the availability of several affordable business setup packages, and ready access to turnkey offices with affordable rents make Business Village a cost effective location to set up your firm in the UAE.
PRO services refer to the assistance provided by a Public Relations Officer, who is an expert in handling all documentation processes and paperwork needed to run a company in Dubai.
Our PRO services cover company registration trade licenses, visa services and document clearances.
Outsource your PRO services to Business Time to ensure a hassle-free process at all government organizations and agencies, thereby saving time and reducing operational costs.
Our years of experience in providing PRO services makes us one of the most reliable companies in the emirate to handle all your documentation and clearance requirements.
Business Time will provide a hassle-free experience in carrying out all government paperwork. You will get a dedicated Public Relations Officer to sort your affairs.
Our services cover trade license procedures, employment visas, immigration formalities, typing services, Emirates ID processing as well as procedures labor card procedures.
Going over the visa formalities can be a daunting task for someone who is venturing into a business. There are a lot of complexities involved with regards to the visa application process and government approvals.
Moreover, with the frequent change in rules and regulations, one can be confused as to which visa to choose.
We at Business Time are happy to guide you and do away with your worries. We can advise you on which visa to take and how to go about it.
These are the main types of visas you must know about:
Business Visa
This is a long term visa for expatriate business owners and their dependents. Only those with entrepreneurial experience are eligible to apply for a business visa.
Golden Visa
A long term residence visa that enables expatriates to live, work and study in the UAE without a national sponsor and with 100% ownership of their business on Dubai mainland.
Investor Visa
Investor Visa is applicable to those who want to start their own business or invest in an existing business in Dubai. It has a validity of three years.
Remote Work Visa
Remote Work Visa, launched in 2021, allows workers and their families to live in the UAE while they work virtually for companies outside the country.
There are other types of visas too, such as the Retirement Visa or the recently launched Green Visa.
Nevertheless, don’t be too worried about the what and how. Tell us your needs and our efficient team will advise you on which visa is best for you, and when given the go ahead, will take on all the required paperwork, so that you can relax and focus on other things that need your attention.
To know more about the different kinds of visas and how you can apply, reach out to us or fill in the form below for a call back.