Dubai is known for business opportunities as it has a strategic global position, favorable tax system, and a growing economy. Entrepreneurs from different countries prefer setting up their business in Dubai as here the cost of business setup is quite low as compared to other big cities. Here we are going to share a few steps to help you with low cost business setup in Dubai.
How to begin your business in Dubai with low or no cost
First of all, you have to decide whether you want to setup your business in mainland or free zone. No matter whether you opt for the first or second option, the cost of business setup will be low. If low-budget is your priority, then prefer looking for a free zone. Besides the low cost business setup in Dubai, there are several benefits of a free zone.
The key benefits of a free zone include exemption from customs tax, 0% tax rate, no currency restrictions, and 100% repatriation of business profits. But if you are interested in acquiring government trade or contracts, then mainland area is suitable for your business. The cost of business setup in the mainland will depend on your business size and nature. Prefer hiring a business setup expert, such as Trade License Zone that can help you establish your business within the available budget.
Business setup in UAE
You have to follow a few steps to establish a business in the UAE. The first step is to choose your business activity. You will be glad to know that the Dubai Department of Economic Development allows 2000+ activities, including all major sectors. You can select more than one activity depending on your business requirements. Always choose a licensed business activity to avoid any penalty.
After that, you have to select the business name. UAE is quite strict for the business names. It means you cannot select a name that includes any blasphemous or bad language. Your selected name must be available for registration.
Apply for license application
Look for a free zone license for a low cost business setup in Dubai. After finding a free zone, apply for a business license. If you want to offer professional services in the UAE, then you have to acquire a professional license. But if you wish to carry out industrial activities, then an industrial license will be required.
In the meantime, you can arrange visas for you and your staff and family members. You will also need a business bank account but be careful as there are hundreds of international and local banks in the UAE. Get assistance from Trade License Zone to help you choose a suitable bank.