World-class infrastructure, supportive local policies, and strong governance from an international standard legislative system, drives the city's dynamic business ecosystem.
Setting up a business
Setting up a corporate office, a regional or global headquarters in Dubai is easy and cost-effective as compared to other global developed metropolis. Numerous options are available regarding licenses, location, visas, banks and workspaces. Specific programs and enablers are also in place to help Start-ups grow and existing firms flourish.
There are three company setup options available when setting up a business in Dubai:
Mainland - companies licensed by the Department of Economic Development (DED).
Mainland companies can trade within and outside the UAE and are subject to standard Dubai laws and regulations.
In mainland there are five main license types:
Industrial Licence
Commercial Licence
Professional Licence
E-Trader Licence
Dual Licence
Before setting up, check if the company’s activities allow for 100% foreign ownership, in more than 1,000 commercial and industrial activities.
Some activities or company types require approvals from other government departments or agencies.
2. Free Zone - entities incorporated within special economic zones that are self-regulated by the managing authorities.
Free zone entities can only conduct business and trade with the local UAE market with the assistance of a local service agent.
Dubai has more than 25 free zones specialized in specific industries with tailored support depending on the sector.
Freezones list in Dubai:
Dubai Academic City
Dubai Airport Free Zone
Dubai Biotechnology & Research Park (DUBIOTECH)
Dubai Car and Automotive City Free Zone (DUCAMZ)
Dubai Design District
Dubai Gold and Diamond Park
Dubai Healthcare City
Dubai Industrial City (DIC)
Dubai International Financial Centre (DIFC)
Dubai Internet City (DIC)
Dubai Knowledge Village
Dubai Logistics City
Dubai Media City
Dubai Outsource City
Dubai Silicon Oasis (DSO)
Dubai Technology Entrepreneur Campus (DTEC)
Meydan Freezone
Dubai Multi Commodities Centre (DMCC)
Dubai South
Dubai Studio City
Dubai Techno Park
International Free Zone Authority (IFZA)
International Media Production Zone
Jebel Ali Free Zone
Dubai Science Park
Dubai World Trade Centre (DWTC)
Dubai CommerCity
Fintech sector is supported through the following zones, by having it's own regulatory authorities:
DIFC; DTEC; MEYDAN; DMCC; Dubai INTERNET City
Digital assets, AI, Metaverse & Web3 companies are welcomed as well in the same free zones, with the addition of Dubai Airport Free Zone or Dubai Science Park along with ecosystem enablers such as Accelerators, Incubators and Sabox programs.
3. Offshore - companies in the UAE are entities that operates outside of its country of origin
Employees
Companies can also benefit from a highly qualified workforce of 200+ nationalities. Dubai consistently ranks as one of the safest and best cities for expats to live and work.
Emiratisation is a nationwide initiative, managed by the UAE Ministry of HR, to increase the participation of Emirati citizens in the private sector. In Dubai, it applies to mainland companies but not to those in free zones. Mainland companies must have a minimum of 2% of Emirati employees in their skilled workforce
Visa options
Living and working in the UAE requires a visa, which can be for 2, 3, 5, or 10 years based on eligibility.
Visa types for Entrepreneurs, employees or investors that are available in Dubai:
Sponsored/Work Visa
Green Visa
Remote Work Programme Visa
Golden Residence Visa
Opening a business bank account
UAE regulations do not allow you to do business through a personal account.
Businesses will need to open a corporate bank account to process financial transactions for the company.
Banks decide the eligibility if it fits with their customer criteria based on your area of business, turnover and product usage. International banks in the UAE typically do not have a proposition for smaller companies with annual turnover of less than AED 50 million while some regional and local banks offer more Startup-friendly products.
Conclusion:
Dubai’s unwavering dedication for creating a business-friendly environment and empowering entrepreneurs with the essential knowledge to tap into its immense potential is evidence on it's growth record.
As you begin your journey of exploration into the Dubai business landscape, we're always here to help and happy to collaborate on any real estate matters!
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