If you want to move Italian business to Dubai, you have landed in the right place. This decision can unlock opportunities in one of the fastest-growing business hubs globally. Dubai offers a prime business hub, tax benefits, and a supportive environment for foreign investors. Moreover, it is an ideal choice for expanding your operations.
This guide will walk you through the essential requirements and benefits of taking your business from Italy to the UAE.
Benefits to Move Italian Business to Dubai
Moving your business from Italy to Dubai offers a strategic gateway to global markets backed by tax benefits, world-class infrastructure, and a growing economy. Below are some of the benefits to move Italian business to Dubai:
100% Foreign Ownership
In Dubai’s free zones, businesses can enjoy full foreign ownership without needing a local partner, offering more control and flexibility.
No Customs Duties
Many areas in Dubai, called free zones, allow businesses to import and export goods without paying customs taxes. This can save a lot of money for Italian companies trading internationally.
Support for Innovation
Dubai encourages businesses to focus on new technology and creative ideas. The government offers programs and incentives to help companies grow, which is excellent for Italian businesses in tech or design.
Italian Community
There’s a growing Italian community in Dubai, which can be helpful for networking, finding business partners, and getting support when starting.
Business-Friendly Laws
Dubai has laws that make starting and running a business accessible. Recent changes allow full foreign ownership in more sectors, making it attractive for different types of companies.
Access to Investors
Dubai has many funding opportunities, from government programs to private investors. This can help Italian businesses secure the money they need to grow.
Multilingual Environment
Dubai is a diverse city where many people speak English, Arabic, and Italian. This makes it easier for Italian companies to communicate and do business.
Easy Business Setup
Starting a business in Dubai is quick and straightforward, with simple procedures for setting up, getting visas, and opening bank accounts.
Is it profitable to move Italian businesses to Dubai?
Moving an Italian business to Dubai can be highly profitable due to several key factors. First, Dubai offers a tax-friendly environment, with no corporate tax on most businesses, whereas Italy has one of Europe’s highest corporate tax rates.
Additionally, Dubai’s strategic location is a gateway to markets in the Middle East, Asia, and Africa, providing unparalleled access to a diverse customer base. The emirate also boasts world-class infrastructure, including advanced logistics and transport systems, facilitating efficient business operations.
In contrast, Italy’s bureaucratic processes can hinder business growth and increase operational costs. Furthermore, Dubai’s economy and focus on innovation create opportunities for networking and partnerships that can significantly enhance business prospects, while Italy’s economy has faced various challenges in recent years.
Types of Trade License in Dubai
Dubai has different trade licenses that help businesses get started, including those wanting to move Italian business to Dubai.
Commercial License
This license is essential for businesses engaged in trading activities. It covers various activities, including buying and selling goods, and allows for various retail and wholesale operations. Companies planning to move Italian businesses to Dubai typically apply for this license.
Read More: Commercial License in Dubai
Professional License
Aimed at professionals and service providers, this license is required for businesses offering professional services, such as consulting, legal, and educational services. This type of license does not involve commercial trade of goods.
Read More: Professional License in Dubai
Industrial License
This license is required for manufacturing and industrial businesses and permits companies to engage in production and related activities. It is ideal for businesses looking to set up factories or plants in Dubai.
Read More: Industrial License in Dubai
Tourism License (DTCM)
Issued by the Dubai Department of Tourism and Commerce Marketing (DTCM), this license is necessary for businesses involved in the tourism sector, including travel agencies, tour operators, and hotel management. This is crucial for companies that aim to attract tourists and cater to the hospitality industry.
When considering a move, especially if you’re looking to move Italian business to Dubai, selecting the appropriate license that aligns with your business activities and goals is essential.
Types of Business Jurisdictions in the UAE
The UAE offers three main types of business jurisdictions—Free Zone, Mainland, and Offshore—each providing unique benefits to the entrepreneurs for company formation:
Free Zone Business Setup
Free zones are designated areas in the UAE that offer tax incentives, full foreign ownership, and simplified customs procedures. They are ideal for businesses focused on international trade and e-commerce. Each free zone has its own regulations and license requirements.
Mainland Company Setup
Setting up a mainland company allows businesses to operate anywhere in the UAE and engage in a broader range of activities. This type requires a local sponsor or partner and is suitable for targeting the local market.
Offshore Business Setup
Offshore companies are primarily established for asset protection, tax optimisation, and confidentiality. These businesses cannot operate within the UAE market but benefit from the UAE’s favourable tax environment and banking facilities.
Each jurisdiction has unique advantages, so choosing the right one depends on your business goals and activities.
Steps to Move Italian Business to Dubai
Moving your Italian business to Dubai can be an exciting opportunity. Here’s a more detailed guide to help you get through the company formation process:
Step 1: Choose Your Business Activity
The first step is to Identify your business’s specific activities. This will help you get the trade license you need. For example, you’ll need a commercial license to import and sell Italian goods.
Step 2: Determine Your Jurisdiction
Decide on the most suitable jurisdiction for your business setup. The options include Free Zones, Mainland or Offshore.
Step 3: Choose Your Company Structure
Select the legal form that suits your business best, considering liability, ownership, and management factors. The options include:
- Limited Liability Company (LLC)
- Sole Establishment
- Civil Company
- Local Company Branch
- GCC Company Branch
- Foreign Company Branch
- Free Zone Company Branch
Step 4: Choose a Trade Name
Make sure your chosen business name adheres to local regulations and is not already in use. You’ll also need to submit your business activity for approval, which must align with the license type you’re applying for.
Step 5: Apply for Your Trade License
Submit the necessary documents, such as your business plan, passport copies, approvals from relevant authorities, and the required fees. Getting a trade license to operate your business legally in the UAE is important.
Step 6: Register Your Company
Complete registration with the Department of Economic Development (DED) or the relevant free zone authority. This involves submitting your trade license application and supporting documents.
Step 7: Choose Your Office Space
Select a suitable office space that meets the requirements of your business activities. This could range from co-working spaces in free zones to traditional office setups on the mainland.
Step 8: Get the Tenancy Contract & Ejari
Once you’ve secured your office space, you must sign a tenancy contract and register it through the Ejari system, which officially documents rental agreements in Dubai.
Step 9: Apply for Visas
Depending on your business setup, you must apply for various investor, employee, and family visas. Ensure you meet all requirements to avoid delays in processing.
Step 10: Open a Corporate Bank Account
Choose a bank that offers business accounts for foreign investors and expatriates. Prepare the required documents to facilitate the account opening process, including your trade license, company registration details, and identification.
Following these detailed steps, you can successfully move your Italian business to Dubai and take advantage of its booming market and business-friendly environment!
Documents Required to Start a Business in Dubai
The documents required to start a business in Dubai from Italy are as follows:
- Passport photographs
- Application form
- Passport copies
- Memorandum of Association (MoA) and Local Service Agent (LSA)
- Business plan
- Emirates ID
Cost to move Italian business to Dubai
Moving an Italian business to Dubai typically ranges from AED 12,500* to AED 28,500*. However, costs vary significantly based on business registration, licensing, office location, size, and visa needs. For an exact estimate of your startup expenses in the UAE, contact Shuraa Business Setup for expert guidance and support.
Contact Shuraa to move your Italian business to Dubai!
In conclusion, relocating your Italian business to Dubai is smart, opening doors to exciting opportunities. With over 23+ years of experience in helping companies establish themselves in the UAE, Shuraa is here to guide you every step of the way. Contact us today to make your transition seamless and start growing in this booming market!