Metropolitan Premium Properties can help you open a company in Dubai. We offer a full range of services - from real estate market analysis in the UAE to collecting and signing all the necessary documents, obtaining licenses, and launching your business.
The UAE is one of the most attractive jurisdictions for opening an international business. A favourable tax policy, a stable banking sector, an effective system of state management, stable economic growth, and numerous business support and development programmes attract wealthy foreign investors to the United Arab Emirates.
The country is home to many large international companies and holdings, and the development of free economic zones, as well as the simplification of bureaucratic procedures that offer significant opportunities for small and medium-sized businesses. There is no monopolization of trade and manufacturing sectors in the UAE, and an individual approach is practiced for each entrepreneur. Below, we will discuss the specifics of opening your own business in Dubai.
Starting a business in the UAE is no different from starting your own business in any other country. During the initial stage, it is necessary to choose the most suitable niche for the future company, analyze demand and supply, research and look at the presence of competitors, and other nuances. At the same time, you can either establish a completely new enterprise or open a branch of an existing business. In most cases, wealthy investors already have experience in creating companies in their own country, and they consider the Emirates as an opportunity to enter a new promising market.
The team at Metropolitan Premium Properties will provide comprehensive support during the process of opening a business in the UAE. Our experienced specialists will provide all the necessary analytical information in your chosen field, look at your main competitors, and take on the solution of all legal and documentary issues.
For most foreign investors, it is difficult to accept the fact that private businesses in the United Arab Emirates are subject to strict government regulation. If a company has been licensed to sell mobile phones, they're not allowed to work with products belonging to another category, whether it be car accessories or food products. Additionally, holders of a trade license cannot provide legal, brokerage, or similar other services.
All types of businesses in the UAE are subject to mandatory licensing. Every company registered in the country is required to obtain a document of the corresponding type, indicating permissible types of activities. This license must be renewed annually. Depending on the chosen jurisdiction, in addition to the basic package of documents, an annual audit report may also be required. Additionally, the company must keep all accounting records that assess its actual financial position, the volume of assets, and liabilities.
The legal norms of the UAE are closely related to Sharia law. At the same time, within individual free economic zones (FEZs), their own legislative norms may be applied, which is most often based on British law. Depending on the chosen jurisdiction, the requirements for registering a company may differ significantly.
Conducting certain types of activities may require obtaining additional permits. For example, to open a dental clinic, in addition to the mandatory license, it is necessary to obtain approval from the Ministry of Health, and all clinic employees will be required to undergo the appropriate qualification certification.
The procedure for opening a company in the Emirates depends on the type and peculiarities of the chosen business, however there are no universal guidelines on how to relocate or establish your own business in the UAE. To avoid unnecessary complications and delays, the best solution would be to contact a consulting company. An experienced intermediary will develop an optimal scheme for creating and promoting a business that fully meets the client's goals and needs.
The defining moment in this process will be the type of business activity and the optimal jurisdiction. Interested investors can open a company on the mainland of the UAE, within one of the free economic zones (Free Zones), or establish an offshore business.
It is also necessary to determine the type of company registration:
It is possible to create a company in Dubai without the involvement of intermediaries. However, if doing so, you must be prepared to take on all potential risks and understand all the legal and procedural nuances of this process yourself. On the other hand, involving an experienced intermediary can help you to avoid unnecessary time and financial costs, and choose the optimal jurisdiction suitable for a specific business.
In most cases, qualified consultants continue to support the company even after the registration process is completed. In this case, you can count on assistance in resolving all issues related to labour law, accounting, tax accounting, etc. Each stage of the registration and doing business in the UAE has its own peculiarities, in which an experienced specialist can help you to understand.
Most investors choose to register a local (mainland) company. To do this, it is necessary to indicate from 2 to 50 shareholders. It is also possible to open a legal entity with one shareholder. The average registration period for a company is two weeks from the time of submitting the document package.
One of the main advantages of local companies is the possibility to not only conduct international business, but also to work within the territory of the UAE. Such enterprises can be created for various purposes, for example, for retail trade on the mainland part of the UAE, management of beauty salons, clinics, etc.
One of the determining factors of increased interest of foreign business professionals in organizations within the territory of the UAE, has become the introduction of changes in the "Commercial Companies Law." As of today, to create an enterprise in the Emirates, foreign investors do not need to attract a local sponsor. Expats have been granted the right to 100% ownership of their own mainland business. It is important to understand that these changes are relevant only for certain types of activities specified in the list of the Dubai Economic Department (there are more than 1,000 of them).
Mainland companies can obtain commercial, professional, or industrial licenses.
To establish a company specializing in consulting, auditing, legal support, beauty services, and others, the involvement of a service agent (a UAE citizen) is required. Meanwhile, the foreign shareholder will act as the head of the enterprise.
Local companies have several advantages compared to a business established within free economic zones. They can rent premises in any area of Dubai, conduct their activities throughout the emirate, and most importantly, these businesses enjoy greater trust from local banks.
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Senior Property Consultant – Metropolitan Premium Properties
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Chief Real Estate Investment Expert at Metropolitan Premium Properties
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