Receive 1 year of subscription support as a bonus*! A dedicated account manager will offer you complimentary basic consultations on various business-related inquiries throughout the first year post-incorporation.
Subscription support excludes in-depth consultations, execution of company tasks and governmental fees.
Is Setting Up a Business Feasible Without Expert Guidance?
Self-setting up a business in the UAE is fraught with many risks:
- The wrong choice of jurisdiction and organizational and legal form
- Error in determining the type of activity to obtain a license
- Incorrect company name
- Violation of the law in the formation of the staff
- Providing false or incorrect data when opening a bank account.
To circumvent potential issues, securing expert assistance is advisable. The experienced specialists of the consulting company will help solve all issues related to the company registration in the UAE, minimizing both time and financial outlays.
How to Begin Your Company Registration in the UAE
The initial steps to penetrate the UAE market mirror those in other nations — pinpointing a niche, evaluating supply and demand, analyzing competitors and more. This framework applies both to expanding an existing business from another country to the UAE and setting up a new venture.
Many foreign entrepreneurs, guided by their native business experience, view the UAE as an entryway into a novel and lucrative market. However, specific nuances tied to local regulations must be considered. These nuances encompass jurisdictional peculiarities, stringent licensing requirements and the integration of civil law with Sharia law. Special authorizations may be necessary for certain sectors, such as healthcare services.
Benefits of Partnering with METROPOLITAN CONSULTING when setting up a business in the UAE
METROPOLITAN CONSULTING specialists will help you set up a company in the UAE without unnecessary hassle and costs. They will resolve any issues related to UAE labour law, accounting, taxation and other crucial domains.
Often, seemingly straightforward tasks can become complex in practice. Hence, our consultants continue to provide support post-incorporation after registration.
Why setting up a business in the UAE is advantageous
- No taxes on personal income and dividends
- Developed business infrastructure
- The UAE provides the perfect toolkit for making a profit in the international market
- 100% ownership of the company
The UAE boasts a welcoming business ecosystem towards foreign entrepreneurs. The state’s appeal is augmented by various development programs in Dubai and Abu Dhabi, economic growth, real estate investment attraction, a favorable tax climate, efficient governance and a stable banking sector. The UAE has become a centre of attraction for many large companies and holdings, and new programs allow medium and smaller businesses to thrive on the territory of the country. The distinctive features of the Emirates include an individual approach and the absence of monopolization of areas in trade and production.
License Acquisition
The regulatory landscape in the UAE strictly oversees all business sectors, with licensing being particularly nuanced. A license in the UAE permits engagement in only the specified business activity.
It is often difficult for foreigners to accept the fact that a company licensed for mobile phone sales cannot deal in unrelated products like car accessories or electronics. Moreover, a trade license does not extend to service provisions such as, for example, repair or brokerage.
Licenses require annual renewal, with some jurisdictions mandating yearly audit reports. Additionally, UAE-registered companies must maintain accurate bookkeeping to reflect their financial health and liabilities accurately.
UAE legal specifics
A notable aspect of UAE law is its blend of civil law with Shariah principles. At the same time, each of the jurisdictions, which include free economic zones and offshore companies, applies its own system of legal regulation. It is often based on British law. However, the requirements for company registration in different jurisdictions may vary significantly.
Certain business activities necessitate additional approvals. For example, opening a dental clinic, in addition to a standard license, requires Ministry of Health endorsements and all doctors must first pass professional certification within the UAE.
Selecting a business category or jurisdiction represents a foundational decision in the UAE, with options spanning mainland, Free Zone, and offshore.
You also need to choose the type of registration:
- a mainland or a local company
- a company in a free economic zone
- offshore company
- freelance license.
All stages of registration and then doing business come with its own set of considerations, all of which are more navigable with the guidance of an experienced UAE specialist. Like any country, understanding and adapting to local nuances simplifies the registration and management process.