Establishing a company in the Emirates (and more specifically, in Free Zones or Free Economic Zones) is a quick and straightforward process. Unless you intend to conduct business in all of the Emirates, we recommend that you register a company in a FEZ.
To register a company in Dubai, you must submit an application form and other documents (transdalted into Arabic) to the Department of the Ministry of Economic Development and the CCI of the Emirates. To simplify and accelerate the process of setting up a business in the SEZ, we recommend enlisting services of professional consultants who can provide you with advice on opening a company in Dubai.
TIPS TO FOREIGNERS SEEKING TO REGISTER A COMPANY IN THE EMIRATES:
- If you decide to open a company in the UAE, you should familiarize yourself with the local legislation.
- To register a company in Dubai, you should take into account the specifics of doing business in an particular emirate.
- Registering of a company in the Emirates requires taking into account the specifics of taxation in a particular emirate.
- By registering a company in the UAE you solve all your confidentiality problems.
- Frequently, foreign nationals register an LLC in Dubai managed by a diector or board of directors.
- The necessary documents include a business license and two registration certificates.
- Under a new law on obtaining a license in Dubai, some types of licenses are issued not for a year, but for four years.
- It is more profitable to register a company in a FZ;
- Opening a company in a FZ in Dubai and opening a company account with an UAE bank is not difficult.
There are 20 different Free Zones in Dubai (most of them are loctaed in this particular emirate):
- Jebel Ali FZ - JAFZA;
- Dubai Maritime - DMCA;
- Dubai TechnoPark - DTP;
- Dubai Multi Commodity Administration - DMCC / JLT;
- Dubai Cars and Automotive Zone - DUKAMZ;
- Dubai Textile City - DTC;
- Dragon Mart - DM;
- International Financial Center - DIFC;
- Dubai Airport FZ - DAFZ;
- Dubai Silicone Oasis - DSO;
- Internet City - DIC;
- Outsourcing Area - DOZ;
- Media City - DMC;
- Studio City - DSC;
- International Media Production Zone - IMPZ;
- Knowledge Village - DKV;
- International Academic City - DIAC;
- Biotechnology and Research Park - DuBiotech / DBRP;
- Dubai Healthcare City - DHCC;
- International Humanitarian City -IHC.
Registering a company in a FZ in Dubai requires keeping in mind that each free zone has its own specialization. While choosing a FZ, one should take into account its location, prestigiousness, and infrastructure (especially if you need to obtain a license in Dubai). Registering a FZ in Dubai takes from 15 to 25 days; an authorized capital varies depending on a FEZ.
There is no authorized capital requirement in JAFZA, while in DMCA you will be required to have an authorized capital in the amount of $82,000. DIFC will require you to have an authorized capital of $50,000, while in the International Humanitarian City the required amount is $27,397. On average, the authorized capital amount in other zones is $13,000.
Planning to establish a company in Dubai? Then you should consider enlisting services of experienced professionals capable of providing assistance with registering a company in Dubai and choosing an economic zone for investment.
For more information, please contact YB Case by filling out the form below.