What you gain from setting up a business in Free trade zone
Business setup in UAE is no different from setting up a business in other regions. Although there are some differences, the entire process follows similar routine. You have to contact the right authorities that will issue you license and understand the operation rules for your type of business. In fact, UAE’s government has simplified the entire process to make it easier for new business entities. The following are some helpful information you should know when setting up a business in UAE.
Benefits of doing business on the mainland
- If you are setting up your business on the mainland, you will enjoy the following benefits.
- No personal or business taxes
- A wide range of businesses that could easily get licensed
- Visa application and approval does not have limits
- There is more flexibility to setup and run a business anywhere in UAE
Government establishments that will facilitate your business set up
Before you do any other thing, you should get in touch with the DED (department of Economic Development). They are responsible to issuing out approval and registering your business with a name. You can contact them through their e-service or by visiting them in person in their office. They will give you the initial approval before you can seek for other additional approvals from the right agencies. The DED have their respective offices in the emirates of Ajman, Ras Al Khaimah, Sharjah, Dubai, and Abu Dhabi. You should visit the DED at the emirate where you want to set up the business.
As you know, establishing a business requires capital, visas for your employees, paying for license, and other costs you may incur.
However, the actual cost will depend on the type of business you want to establish in UAE. Your cost of set up and operation varies, whether service oriented, industrial, or commercial business.
The business’s legal form will also impact on the set up cost. If it’s a branch of a company, you may skip some registration processes. But if you are starting up a new company, you have to carry out full registration in all aspects.
Capital A PrJSC Company is required to have a startup capital of about AED 5 million while a PJSC company should have no less than AED 30 million.
Remember, there is no maximum number of licenses for any given company in UAE. The business environment is very favorable for investors who are looking to take advantage of the expanded UAE market.