How to open a new company in of free zones of Dubai, UAE, what options are available, is it hard to obtain the general trading license, can foreigners register LLC or offshore company here, and what are the benefits for doing business in this jurisdiction? Let us consider all these issues.
In order to understand why do foreigners choose the UAE and Dubai in particular as the place for company registration, let us take a look at the key benefits of starting up a company in one of free zones of this country.
- Simplicity and ease of starting a company. The UAE, year after year, takes top places in the ratings of ease of doing business. The company opening procedure in Dubai is quite simple and does not require much effort from you, the cost of obtaining a general trading license will be much lower than for example in Hong Kong or any European country. The whole procedure of setting up a company in Dubai takes from two to ten days (depending on the type of business and the specific free zone).
- Almost complete absence of taxes and fees. Starting a trading or other company Dubai UAE you get a huge advantage due to the absense of taxes and customs duties. In addition to VAT in the amount of 5% and some one-time fees, there are no taxes here.
- There are no restrictions on the withdrawal and repatriation of capital from the UAE so that a foreigner can freely withdraw all profits.
- Confidentiality. The registers of most of free zones are closed for public. Only law enforcement agencies with a special permit can check the information from them.
- Ease of obtaining a resident visa in the UAE. A foreign investor opening a company in one of the free zones (not offshore) can get visas for himself, his family, and employees of his company.
- Treaty on the avoidance of double taxation. The UAE has already concluded more than 70 treaties for the avoidance of double taxation with other countries, which gives you as an entrepreneur great opportunities.
This is far from a complete list of all the advantages that foreign investors in the UAE receive. The number of registered companies in free economic zones has already reached tens of thousands and continues to grow, which indicates the effectiveness of doing business in this country.