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Dubai: your preferred global arena for business

Writer's picture: Narcis MarianNarcis Marian
Business in Dubi

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:


  1. 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:


  1. Dubai Academic City

  2. Dubai Airport Free Zone

  3. Dubai Biotechnology & Research Park (DUBIOTECH)

  4. Dubai Car and Automotive City Free Zone (DUCAMZ)

  5. Dubai Design District

  6. Dubai Gold and Diamond Park

  7. Dubai Healthcare City

  8. Dubai Industrial City (DIC)

  9. Dubai International Financial Centre (DIFC)

  10. Dubai Internet City (DIC)

  11. Dubai Knowledge Village

  12. Dubai Logistics City

  13. Dubai Media City

  14. Dubai Outsource City

  15. Dubai Silicon Oasis (DSO)

  16. Dubai Technology Entrepreneur Campus (DTEC)

  17. Meydan Freezone

  18. Dubai Multi Commodities Centre (DMCC)

  19. Dubai South

  20. Dubai Studio City

  21. Dubai Techno Park

  22. International Free Zone Authority (IFZA)

  23. International Media Production Zone

  24. Jebel Ali Free Zone

  25. Dubai Science Park

  26. Dubai World Trade Centre (DWTC)

  27. 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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