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Business Activities in Dubai

Business Activities in Dubai

Dubai is a compelling magnet for entrepreneurs and businesses in today’s landscape, providing a dynamic and lucrative environment. Its strategic location, top-notch infrastructure, business-friendly policies, and diverse economy have solidified its position as the premier business hub. Dubai beckons with myriad opportunities across trade, logistics, tourism, hospitality, finance, technology, and real estate sectors. Fueled by a growth-oriented mindset and a commitment to innovation, the city creates an ideal landscape for turning entrepreneurial ideas into reality. Shuraa Business Setup will delve into business activities in Dubai that allow 100% ownership, explore various licenses, and guide you on establishing your company in this booming metropolis.   Exploring Business Activities in the UAE  Business activities in the UAE encompass diverse commercial endeavours within Dubai, a global business hub known for its strategic advantages. Here are distinct sectors that thrive within the city:  Trade and Logistics  Dubai’s strategic location positions it as a crucial trading hub.  World-class ports and airports facilitate the seamless movement of goods globally.  Ideal for import, export, logistics, and supply chain management businesses.   Tourism and Hospitality  Dubai, a premier tourist destination, boasts top-notch hotels, attractions, and events.  The hospitality sector significantly contributes to the city’s economy.  Offers ample opportunities for businesses providing tourism-related services.   Finance and Banking Dubai is a regional financial centre with numerous banks and investment firms.  Attractive regulatory framework and tax structure draw in international investors.  Ideal for businesses in finance, investment, and banking services.  Real Estate and Construction  Dubai’s dynamic real estate market features iconic skyscrapers and luxury developments.  The construction sector experiences continuous growth due to infrastructure projects.  Opportunities abound for businesses in real estate development and construction.  Technology and Innovation Dubai positions itself as a hub for technology and innovation.  Initiatives support startups’ digital transformation and attract global tech talent.  Ideal for businesses involved in the tech and innovation ecosystem.  Other Promising Sectors Dubai’s diverse opportunities extend to healthcare, education, retail, manufacturing, and media.  Growing population and diversification initiatives create fertile ground for exploration.  Businesses can tap into various sectors beyond the key areas for innovative ventures.   Varieties of Trade Licenses in UAE  The varities of trade liceses in UAE are as follows:   Commercial License  The most prevalent license covering a broad spectrum of business activities in UAE and Dubai.  Encompasses import, export, wholesale, and retail sales, suitable for businesses buying and selling goods.   Industrial License  Mandatory for businesses involved in manufacturing or production activities.  Also required for those providing manufacturing-related services, such as engineering and consulting.  Professional License  Essential for businesses offering professional services like law, accounting, medicine, engineering, and consultancy.  Also applicable to individual professionals such as doctors, lawyers, and engineers.  Tourism License  Necessary for businesses operating in the tourism and hospitality sector.  Covers establishments like hotels, restaurants, travel agencies, and tour operators.  Beyond these primary trade licenses, specific activities may require specialised licenses. The requirements for each license type vary based on the business activities and the Emirate of operation within Dubai. Notably, the UAE government has recently streamlined and simplified the licensing process, making it more accessible for businesses. This includes a reduction in the number of required documents, facilitating a smoother application process.  Acquiring a Trade License in the UAE  Securing a trade license in the UAE involves a specific process that may differ across emirates. Here are the general steps:  Choose a Business Name:  Select a distinctive and compliant business name for your venture.   Complete an Application Form:  Fill out the required application form with accurate details about your business.   Provide Passport and Visa Copies: Submit copies of the applicant’s passport and visa for verification.   Obtain Government Department Approvals:  Seek approvals from relevant government departments based on your business type.  Pay Applicable Fees: Fulfill the financial requirements by paying the necessary fees associated with the license application.  Annual Renewal:  After the issuance of the trade license, ensure timely renewal on an annual basis.   Renewal Costs: The renewal fees depend on the license type and the emirate of business operation.  Understanding and adhering to these steps will help facilitate a smooth and successful trade license application process in the UAE. Remember that specific requirements may vary by emirate, so familiarising yourself with the regulations applicable to your business location is essential.   Business Activities in Dubai: Free Zone vs. Mainland Distinguishing between Dubai Free Zones and the Mainland, business activities are governed by distinct regulations and constraints. Here’s a comparative overview of the permissible business activities in these two jurisdictions:  Dubai Free Zones:  Offers a more flexible and liberal business environment compared to the mainland.  Typically allows 100% foreign ownership, provides tax exemptions, and may eliminate or restrict customs duties.  Business activities within free zones are usually confined to specific industries, with potential trading limitations.   Dubai Mainland:  Grants companies access to the entire UAE market, enabling business operations nationwide.  Subject to corporate taxes and may encounter additional regulatory requirements.  Mainland businesses enjoy greater flexibility in pursuing diverse business activities.   Understanding the distinctions between these zones is crucial for businesses seeking to establish themselves in Dubai, as it directly impacts ownership, taxation, and the scope of permissible operations.   Comparison of Dubai Freezone Vs Mainland Business Activity   Dubai Free Zones   Dubai Mainland   Trading and Import/Export   Allowed, but may have restrictions   Allowed without restrictions   Retail and Commercial Services   Allowed, but may require additional permits   Allowed without restrictions   Manufacturing and Industrial Activities   Allowed in designated free zones   Allowed without restrictions   Professional Services   Allowed, but may require specific qualifications or licenses   Allowed, but may face additional regulatory requirements   Hospitality and Tourism   Allowed in designated free zones   Allowed without restrictions      The decision between a Dubai Free Zone and a Mainland license hinges on the unique business activities and requirements of the company. A free zone license is an apt choice for businesses predominantly serving international markets, seeking a flexible regulatory environment. On the other hand, if a company primarily targets the UAE market and necessitates access throughout the entire country, a mainland license may be the more fitting option. Carefully evaluating these factors ensures businesses
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Benefits of a Freelance Visa in Dubai

What Are the Benefits of a Freelance Visa in Dubai?

In a rapidly evolving world of work, the concept of freelancing is becoming increasingly popular around the world. With the freedom to set their own schedules, choose projects that resonate with their expertise, and work from virtually anywhere, freelancers are shaping the future of work.  In line with this trend, Dubai has emerged as a hub for freelancers. A freelance visa in Dubai is a type of visa that allows you to live and work in Dubai as a self-employed person.   The number of freelancers in the world is expected to reach 1.1 billion by 2025. And the Middle East is one of the fastest-growing regions for freelancing. So, if you are considering working as a freelancer in Dubai, you should know the various benefits of obtaining a freelance visa in Dubai and how it can unlock a world of possibilities for your freelancing career.  But first, let’s understand what exactly a freelance visa in Dubai and what is the procedure of getting it.  What is a Freelance Visa in Dubai?  A freelance visa in Dubai is a type of visa that allows you to live and work in Dubai as a self-employed person. The freelance visa does not require a local sponsor or to be hired by any company in the UAE.  It is specifically designed for those who want to work independently and provide their services on a freelance basis.  It is a relatively new visa, introduced by the Dubai government in 2023. This visa provides individuals with the flexibility to choose their own clients and projects, allowing them to work on a variety of different projects and expand their professional network.  Whether you’re a writer, designer, developer, or any other type of freelancer, a freelance visa in UAE can open up new opportunities and allow you to thrive in your chosen field.  What Is Allowed with a Dubai Freelance Visa?  Here are some of the things that are allowed with a Dubai freelance visa:  You can work as a self-employed person in any field that is eligible for the visa.  You can work for individuals or businesses, both in Dubai and internationally.  You can charge for your services.  You can sponsor your family members to live and work in Dubai with you.  You can travel freely in and out of Dubai.  You can open a bank account in Dubai.  Here are some of the things that are not allowed with a Dubai freelance visa:  You cannot work for a local company in Dubai.  You cannot employ other people.  You cannot start a business in Dubai.  You cannot sponsor other people for visas.  Application Process and Required Documentation  The process of obtaining a freelance visa in Dubai is designed to be thorough and efficient, ensuring that skilled individuals who can contribute to the city’s economy are granted this opportunity.  Here are the key steps involved in the application process along with the required documentation:  Step 1: Check your eligibility  Be sure to check the eligibility criteria set by the Dubai government. This typically includes having relevant qualifications and experience in your field of expertise. The list of eligible fields is updated regularly, so you should check with the Dubai government for the latest list.  Step 2: Gather the required documentation  The required documentation for a freelance visa application in Dubai includes:  A valid passport.  A recent passport-sized photograph.  A copy of your business license.  A letter from your bank stating your annual income.  A clean criminal record.  An English proficiency test certificate.  A medical fitness certificate.  Step 3: Apply for a freelance permit  The application process is quite simple and can be submitted online. You will need to provide the following information:  Your personal details  Your business details  Your academic qualifications  Your work experiences  Your portfolio (if applicable)  Once your freelance permit is approved, you can apply for a freelance visa. The application process for a freelance visa is similar to the application process for a regular visa.  Step 4: Apply for the visa  You can apply for a freelance visa online or through a visa agent. The application process is relatively simple and can be completed in a few weeks.  Step 5: Visa Renewal  Freelance visas are usually issued for one to five years and can be renewed upon expiration by following a similar process, including updating your freelancing plan and providing updated documentation.  Also, keep in mind that the freelance visa cost in Dubai varies depending on the type of visa and the length of stay. There may be other fees associated with the application process, such as the cost of medical examinations and translations. However, the total cost of a freelance visa in Dubai can be anywhere between AED 10,000 and AED 25,000, but these costs are subject to change.  If you are interested in obtaining a freelance visa in Dubai and want to know the actual freelance visa cost in Dubai, you should contact a visa consultant like Shuraa.  7 Benefits of Obtaining a Freelance Visa in Dubai  There are many benefits to getting a freelance visa in Dubai. Here are some of the most notable benefits:  Flexibility and Independence Freelancers are known for their love of independence, and a freelance visa in UAE offers just that. One of the primary benefits is the ability to work on multiple projects simultaneously.  Additionally, you have the freedom to set your own schedule, making it easier to maintain a work-life balance that suits your needs.  No need for a local sponsor One of the biggest benefits of a freelance visa is that you do not need a local sponsor. This means that you can apply for the visa on your own, without having to find a company in Dubai to sponsor you.  0% personal income tax Dubai has a zero-percent personal income tax, which means that you will not have to pay any taxes on your income. This can be a significant savings, especially if you are used to paying high taxes in your home
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Moving to Dubai from the UK

Moving to Dubai from the UK

Moving to Dubai from the UK can be an exciting and life-changing decision. With its luxurious lifestyle, tax-free income, and endless opportunities, Dubai has become a popular destination for UK residents looking to make a fresh start. Whether you’re moving for employment, to start a business, or to invest in the booming real estate market, Dubai offers something for everyone.  However, making such a significant move requires careful planning and understanding. One of the key aspects to consider when planning a move to Dubai is understanding the visa options available to UK residents. The type of visa you obtain will determine your eligibility to live and work in Dubai. From employment visas to investor and business visas, the options can be overwhelming.  Therefore, we are here to explain everything you need to know about moving from UK to Dubai. But first let’s explore the advantages of moving to Dubai from UK.  Why Move to Dubai? Dubai has become a popular destination for expats, including those from the UK. Here are some of the key benefits and opportunities that attract people to move there:  1. Tax-free Income  One of the biggest draws is the absence of personal income tax. This means you get to keep more of your earnings.  2. High Earning Potential  Many industries in Dubai offer competitive salaries, especially in finance, technology, and real estate.  3. Double Taxation Agreements  The UAE has signed double taxation agreements with several countries, including the UK, to prevent businesses from being taxed twice.  4. Free Zones  These specialized economic zones offer 100% foreign ownership, tax benefits, and streamlined regulations.  5. Luxurious Lifestyle  Dubai is synonymous with luxury. The city offers a luxurious lifestyle from high-end shopping to world-class dining and entertainment.  6. Real Estate  Dubai’s real estate market offers high returns on investment, with opportunities in the residential, commercial, and hospitality sectors.  How to get a visa for Dubai? The type of visa you need depends on your reason for moving to Dubai. Common visa types include:  1. Employment Visa  Dubai has become a popular destination for UK expats seeking new career opportunities. Its tax-free income, vibrant lifestyle, and growing economy make it an attractive option. However, it’s essential to understand the process and requirements before making the move.  An employment visa is a permit that allows a foreign national to work in Dubai for a specific employer. It’s typically sponsored by the employer, who handles the visa application process on behalf of the employee. Obtaining an employment visa is a prerequisite for working legally in Dubai.  Steps to Move to Dubai for Employment:  Secure a Job Offer: Utilize online job portals, networking, or recruitment agencies to find suitable positions. Ensure the job offer includes visa sponsorship details.  Visa Process: Your employer will typically handle the visa application. Required documents may include passport, medical fitness certificate, no criminal record, employment contract, and passport-sized photos. Visa types vary based on employment terms.  Accommodation: Research accommodation options (renting or buying) based on your budget and location preferences. Consider factors like proximity to work, amenities, and community.  2. Investor Visa  Dubai offers investor visas to individuals who meet specific investment criteria. This visa allows you to live and work in the UAE without the need for a local sponsor. It’s a popular option for entrepreneurs and high-net-worth individuals seeking to establish a presence in the region.  Investment Options:  Property Investment: Dubai offers a wide range of property options, from residential to commercial. Investing in real estate can provide long-term returns and a stable income.  Business Investment: Starting your own business or investing in an existing one can be a lucrative option. Dubai’s business-friendly environment makes it an attractive destination for entrepreneurs.  Government Funds: Investing in government-backed funds or projects can offer attractive returns and potential visa benefits.  3. Student Visa  A student visa allows international students to study at accredited universities and higher education institutions in Dubai. To obtain a student visa, you’ll need to secure admission to a recognized educational institution.  Eligibility for a Student Visa  To be eligible for a student visa, you typically need:  A confirmed offer of admission from a Dubai-based university or college.  Evidence of sufficient funds to cover tuition fees, accommodation, and living expenses.  Valid Passport with a certain period of validity remaining.  Proof of comprehensive health insurance coverage.  Proof of secured accommodation, either on-campus or off-campus.  4. Retirement Visa  Dubai has become an increasingly popular choice for retirees seeking a luxurious and comfortable lifestyle. The UAE government introduced a retirement visa to cater to this growing demographic.  Eligibility for a Retirement Visa  To qualify for a retirement visa, you must meet one of the following criteria:  Be at least 55 years old.  Have worked at least 15 years, either inside or outside the UAE.  Own property in Dubai is worth at least AED 1 million.  Have financial savings of at least AED 1 million.  Have a monthly income of at least AED 20,000 (AED 15,000 for Dubai).  5. Family Visa  A Family Visa allows a resident of the UAE to sponsor their dependents to live with them in the country. This visa category is specifically for spouses, children, and parents.  Eligibility for a Family Visa  To sponsor a family member for a Dubai visa, you must:  Hold a valid UAE residency permit.  Minimum salary of AED 4,000 per month with accommodation or AED 3,000 per month plus accommodation, for male expats.  Minimum salary of AED 10,000 per month with accommodation or AED 8,000 per month plus accommodation, for female expats.  Valid documentation proving the relationship (marriage certificate, birth certificates, etc.) is required.  6. Green Visa  The UAE recently introduced the Green Visa as a more flexible and independent residency option compared to traditional employment visas. It’s designed for skilled professionals, freelancers, and self-employed individuals.  Eligibility for a Green Visa  To qualify for a Green Visa, you must meet one of the following criteria:  Skilled Employee: Hold a bachelor’s degree or equivalent, be employed in a specific occupation level,
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Doing Business in the UAE

Doing Business in the UAE

Doing business in UAE has never been more attractive than it is now, with Dubai offering numerous opportunities for foreign investors to set up various types of companies. Dubai’s diversification of its economy means that the city’s growth prospects are strong, with oil production accounting for less than 1% of its total GDP.   The city’s commitment to doing business in UAE is reflected in the significant increase in the number of business licenses issued, which rose to 45,653 in the first half of 2022, a 25% increase from the previous year. This growth is driven by a variety of factors, including business-friendly government policies, taxation, and infrastructure. For international investors, registering a corporation in Dubai can be particularly beneficial, making it a great area to establish a business and take advantage of all that the UAE has to offer.  According to the explanation above, doing business in UAE, and registering a corporation in this city may be very beneficial for business owners, particularly international investors.  Why Doing Business in Dubai?  Dubai and the United Arab Emirates are extremely inviting and helpful business environments. In fact, approximately 20,000 new businesses have been established in Dubai alone last year. Unsurprisingly, many of these were registered by foreign business owners. Foreign nationals make up between 80% and 90% of the UAE employment.  There are several compelling reasons why thousands of enterprises from all over the globe want to start doing business in the UAE. The primary advantages are as follows:  1. Business-friendly Regulatory Environment  The Dubai government has quickly adapted the technology for establishing a business in Dubai. The business registration procedure is simple and may be finished in a few days. There is minimal paperwork, and the procedures are simple to follow.  2. 100% Foreign Ownership  Certain revisions to the UAE Commercial Companies Law were made in 2021, allowing foreign investors to hold 100% of their enterprises in the UAE. This enables for more than half of all economic activity in Dubai, where foreign investors are permitted to possess 100% of the company.  3. Availability of more than 40+ Free Zones  Investors can establish their businesses on the Mainland or in Free Zones. Dubai has around 40+ Free Zones to select from for entrepreneurs and investors. Setting up a firm in a Free Zone gives the investor complete control of the company. It also provides for the full repatriation of earnings and cash invested. It also provides the investor with the possibility to work with other companies in the same sector.  4. Tax Benefits Offered by the Government  One of the primary advantages of incorporating in Dubai is that the firm is exempt from paying taxes. In Dubai, there are no business or personal taxes. However, a few enterprises must pay GCC VAT at a rate of 5% on specific commercial activity.  5. Strategic and Advantageous Geographic Location  Dubai is strategically located at a crossroads that connects the north, south, east, and west. UAE one of the world’s largest re-export hubs. It boasts one of the world’s busiest airports and seaports, as well as one of the most efficient logistical infrastructures. It is also one of the most significant tourist spots on the planet.  6. Developed Infrastructure  Dubai is one of the most advanced cities in Central Asia, with one of the greatest infrastructures in the world. Its infrastructure is constantly growing and provides good public transit, telecommunication, terminals, and so on. Dubai also hosted Dubai Expo 2020 and FIFA world cup during which substantial developments in Dubai’s overall infrastructure were achieved.  7. Regulatory Body/Authority for Company Registration in Dubai  The Registrar of Companies is the primary regulatory entity in Dubai for business creation. It is the governing body where new business registration applications are lodged. It is the location where businesses must file the necessary paperwork and registrations.  Company Registration Process   Following is the process of Establishing a business in the UAE:  1. Choose Business Structure The applicant must first choose the best business structure for the organization. An LLC, Branch Office, Free Zone Company, or Trade Representative Office are some of the structures that can be used. The number of shareholders, commercial activities engaged, and financial requirements of the firm all influence the choice of an appropriate business structure.  2. Register Company Name  The following step is to reserve a company name. This is the name under which the company will conduct its operations. The applicant should check the availability of the requested name with the UAE Department of Economic Affairs or the relevant Free Zone Authority. The applicant must check that the chosen name is not already in use by another company and is in accordance with local legislation.  The chosen/desired name for the firm should have the following elements:  Not to breach public morale or undermine the country’s public tranquilly.  Be consistent with the company’s legal structure.  Have not previously been registered  Must be consistent with the type of commercial activity carried out by the organisation.  Neither the name of any religion, the governmental authority, nor the names or logos of any external bodies are included.  It should not be contentious, disrespectful, or offensive.  When the names of the entrepreneurs are chosen as the business’s trade name, they should represent their complete names rather than nicknames.  3. Apply for a Business License  After selecting and reserving a name with the relevant government, the applicant should apply for a business license based on the commercial activities that the firm wants to engage in in Dubai. The business license is the legal instrument that authorizes its holders to carry out specified business operations. Listed below are the many types of licenses:  Commercial License:  Trading businesses must get a commercial license in order to conduct their business legally.   Industrial License: Businesses that participate in manufacturing and industrial operations must get an industrial license.  Professional License:  Service providers, technicians, and artists need to get a professional license.  4. Choose the Location The decision about the location of your office might be game-changing for your
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Starting a New Business in Dubai

6 Easy Steps to Starting a New Business in Dubai

The prospering city of Dubai is a good place for entrepreneurs intending to launch a new venture. The city is a fantastic spot to start a business thanks to its advantageous location, accommodating government policies, upper-edge infrastructure, and diversified market. Therefore, starting a new business in Dubai can be an exciting and potentially lucrative endeavor for entrepreneurs.   Entrepreneurs and investors frequently travel to the UAE. In addition to being an investor-friendly country and ease of doing business, it has cemented its status as a corporate hub in the Middle East. Government policies that encourage and promote business owners are also in place. Additionally, you require assistance and advice in selecting a license for your business. You will also discover the vital steps to launching a business in Dubai, United Arab Emirates, here.   Step-by-Step Guidelines for Starting a New Business in Dubai   It can be rewarding and interesting to start a new business in Dubai. But it can also be daunting if you don’t know where to begin. Furthermore, the following are the easy steps to starting a new business in Dubai.   1. Identify the Nature of Your Business Activity Choosing the business activity, you wish to pursue is the first step. Dubai has a range of commercial opportunities, including those in trade, logistics, tourism, and hospitality. The industry that most fits your interests, abilities, and experience must be chosen. Conduct market research to comprehend the marketplace’s competitors, pinpoint customer demands, and create a distinctive selling offer for your company.   2. Determine Your Company’s Legal Structure Secondly, choose your company’s legal structure. You have the option of establishing a partnership, a limited liability company or a branch of a foreign corporation. Every structure has benefits and drawbacks, so it’s important to choose the one that will work best for your company. To comprehend the legal and regulatory requirements of each structure, speak with a legal professional.   3. Choose Your Business Location You will need to find a suitable location for your business, taking into account factors such as accessibility, cost, and business needs. Some areas of Dubai are known for specific industries, so it may be beneficial to choose a location that is known for your business activity. Additionally, you may want to consider factors such as proximity to suppliers, transportation links, and the availability of skilled labor in the area.    4. Register Your Business The next step is to officially register your business with the Department of Economic Development (DED) after choosing the business structure. You’ll have to present paperwork like your memorandum of association, passport, and visa. To prevent any delays or cancellations in the registration process, it is crucial to make sure that all paperwork is accurate and complete.   5. Obtain Licenses and Permits You must obtain the appropriate licenses and permits to run your business after registering it. Your business activity will determine the kind of licenses you require. A trade license, a business license, and a professional license are also required. To avoid facing any legal or financial repercussions, it is imperative to adhere to all regulatory regulations. If you are offering professional services like legal, accounting, or medical care, you must have a professional license.   6. Open a Bank Account The last step is to open a business bank account. Your passport, company license, and other documents must be presented to the bank. It’s crucial to pick a bank that provides practical and affordable services for your company. When choosing the best bank for your company, keep things like transaction costs, currency exchange rates, and Internet banking features in mind. It’s crucial to pick a bank with a solid history of offering reliable services and assistance to businesses in the UAE.   Advantages of Starting a Business in Dubai   1. Strategic Location Dubai is an excellent location for international trade because it is situated at the intersection of Europe, Asia, and Africa. Due to its advantageous position, it is the perfect choice for companies wishing to diversify their customer bases beyond the UAE market. Dubai also possesses one of the busiest airports in the world. Therefore, this contributes to its status as an international business hub.  2. Favorable Business Environment Dubai provides a welcoming business environment that inspires business owners to launch their ventures. The Dubai government has put in place laws that make it simple for business owners to launch a venture there. In Dubai, starting a business is simple, and the government provides several benefits, including 100% foreign ownership, tax exemptions, and no currency limits.   3. Access to Funding Dubai has a strong financial infrastructure that gives business owners access to capital. Entrepreneurs have access to a range of funding choices, including venture capital firms and bank loans. Additionally, numerous government initiatives provide funding and support to business owners.   4. Cultural Diversity Dubai is a multicultural city that draws visitors from around the world. This diversity gives firms a distinctive perspective that aids ingenuity and creativity in problem-solving on the part of business owners. Dubai’s cultural variety also gives entrepreneurs access to a sizable pool of talented and competent people. This can aid in the expansion of their companies.   6. Infrastructure Businesses operating in Dubai benefit greatly from the city’s top-notch infrastructure. Businesses can move people and commodities across the city swiftly and effectively because of this infrastructure. Dubai also has cutting-edge telecommunications systems that give companies dependable, fast internet connectivity. Companies can maintain connections with their clients, partners, and suppliers all over the world thanks to this infrastructure.   How long does it take to start a new business in Dubai?   The duration of time it takes to establish a new company in Dubai can change based on several variables. That includes the nature of the company, its operations, its location, and the government agency handling the establishment of the company.   Generally speaking, establishing a business in Dubai can take a few days to several weeks. The preliminary processes, including reserving a business name and receiving clearance from the DED, can be
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Can British Do Business in Dubai?

Can British Do Business in Dubai?

Yes, you can open a business in Dubai, UAE from the UK. Dubai is a well-known destination for businesses and entrepreneurs from all over the world and a significant hub for global trade. Particularly British companies have a long history of doing business in Dubai, and the two nations enjoy a strong and productive partnership. For British enterprises wishing to grow their operations in the Middle East, Dubai offers a business-friendly climate with less red tape and a low tax structure. Thus, business in Dubai for UK citizens can be a lucrative and possibly profitable venture for business owners.  The Dubai government also aggressively promotes foreign investment and offers a variety of incentives to make it simpler for business in Dubai for UK citizens to establish themselves and conduct business in the area. In this response, we will explore the advantages and steps of business in Dubai for UK citizens.  Advantages of Business in Dubai for UK Citizens  Note down the advantages of business in Dubai for UK citizens: –  1. Prime Location Dubai is strategically located at the crossroads of Europe, Asia, and Africa, making it an ideal location for UK businesses to access markets in these regions. The city has a well-connected airport and seaport, which facilitates the movement of goods and services. In addition, the government has also introduced a range of online services to make it easier for businesses to interact with the government agencies.  2. Diverse Market Dubai is a diverse market with a mix of local and expat residents. This provides UK businesses with access to a large and varied customer base. In addition, Dubai is home to several multinational companies, which create opportunities for partnerships and collaborations.  This provides ample opportunities for businesses to grow and expand in the region. Dubai offers UK businesses a platform to enter these growing markets because of its opportunity to boost, expand economy, and welcoming business environment.  3. Growing Economy  Dubai has a rapidly growing economy with a strong focus on innovation and entrepreneurship. The city has a well-diversified economy, which makes it less reliant on oil and gas revenues. This provides UK businesses with ample opportunities to grow and expand in the region. The city is also a hub for regional trade and commerce, with a number of large-scale events and exhibitions held throughout the year.   4. Government Support The Dubai government actively encourages foreign investment and provides a range of incentives to make it easier for companies to set up and operate in the region. This includes tax incentives, access to finance, and support for research and development. The government has also introduced several initiatives to promote innovation and entrepreneurship. The Dubai government has established several funding programs to support businesses. These funds provide access to capital, business advisory services, and other forms of support.  5. Skilled Workforce Dubai has a large and skilled workforce, with many expat workers from all over the world. This provides UK businesses with access to a diverse pool of talent and expertise. In addition, the government has invested heavily in education and training, which has led to the development of a highly skilled workforce. The Dubai government has invested heavily in education, with a focus on developing a highly skilled workforce.   Do British Businesses Operate in Dubai?  Undoubtedly, business in Dubai for UK citizens has been successfully conducted for many years. In fact, British businesspeople and investors frequently choose Dubai as a location to grow their activities in the UK. The Dubai government actively promotes foreign investment and offers a variety of incentives to make it simpler for businesses to establish themselves and conduct business in the area.  Also, Dubai has a sizable ex-pat population that includes many British nationals, which can offer a comfortable and encouraging environment for individuals wishing to start a business there. Overall, Dubai offers many opportunities for British companies to develop, and the bilateral relationship is solid and fruitful.  How to Start a Business in Dubai from the UK in 2024? Here are the steps listed below for business in Dubai for UK citizens: –  1. Determine the Business Activity and Legal Structure  The first step to starting a business in Dubai is to determine the type of business activity you want to engage in and the legal structure you want to adopt. Dubai offers several types of legal structures, including free zone companies, mainland companies, and offshore companies. Each structure has its own advantages and disadvantages. For instance, free zone companies offer 100% foreign ownership, while mainland companies are required to have a local sponsor or partner.  2. Choose a Business Name and Register  Once you have decided on the legal structure and business activity. Next you will need to choose a name for your business and get it registered with the Department of Economic Development (DED) in Dubai. The name must be unique and not already registered by another business. You will also need to obtain a trade license and other necessary permits and approvals from the relevant authorities.  3. Open a Bank Account and Deposit Capital  Once your business is registered and you have obtained the necessary permits and approvals, you will need to open a corporate bank account in Dubai and deposit the minimum capital required by law. The minimum capital requirement varies depending on the legal structure and business activity. It’s critical to choose a bank with a record of providing trustworthy services and support to enterprises in the UAE.  4. Apply for Visas and Permits  Finally, you will need to apply for visas and permits for yourself and your employees. Dubai offers several types of visas, including investor visas, employment visas, and dependent visas. You will need to provide the necessary documents and meet the eligibility criteria to obtain the visas and permits. It is recommended to work with a local service agent or a business setup company to ensure a smooth and hassle-free process.  5. Obtain Necessary Permits and Licenses  Obtaining the necessary permits and licenses
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Dubai mainland business setup

The Reason Why a Dubai Mainland Business Setup is Profitable

Dubai Mainland Business Setup is the most profitable and intriguing investment choice for investors and businesspeople world-wide. Registering a mainland business in the UAE gives the company the ability to conduct business both inside and outside of the country.   The term “Mainland” refers to the entire geographical area of the UAE, specifically, locations where corporations, businesses, or other organisations can carry out trading operations. In Dubai, the Department of Economic Development (DED) is in charge of processing paperwork and offering mainland company formation. In comparison to free zones or offshore company formation, a Mainland Business Setup in Dubai has more requirements and documentation.  Important Features of Mainland Company Formation in Dubai  There are undoubtedly benefits that Mainland Company Formation can offer to financial professionals searching for a business setup in the UAE. Tax incentives is one of the highlights. Let’s look at some different highlights, shall we?  Corporate taxes are not a burden on mainland businesses.  There is no legal requirement for capital to obtain a Mainland Company Formation License.  Setting up a mainland company is possible without a cumbersome process.  An audit is not required to be performed.  It’s easy to get a permit for Mainland Company Formation in Dubai.  The company can be managed from anywhere in the UAE.  The use of money is not subject to any legal restrictions.  In Dubai, employment visa services are reasonably priced and efficient.  The corporate financial balance can be effectively publicised.  It is possible to repatriate 100% of capital and benefit.  The business office is located throughout the UAE.  Types of Business Entities formed under Mainland   Dubai offers a variety of business resources to financial professionals that can be combined successfully.  Branch of Foreign Company  Financial experts who are looking for a platform to expand their businesses are given opportunities by the Dubai branch of the Foreign Office. You can choose Mainland company formation to incorporate your branch office if you’re looking for a platform to expand. To learn more about the consolidation of branch offices.  Limited Liability Company (LLC)  One of the most well-known types of business entities is the limited liability company (LLC), which can be formed with the participation of at least two investors and up to a maximum of fifty. The percentage of individual shareholding determines how much responsibility each accomplice must bear. To be completely knowledgeable about joining an LLC.  Representative Office  The UAE allows financial experts from outside to establish a delegate office without the presence of an investor. A delegate office refrains from business operational activities and is more inclined to conduct research and advance promotional activities.  Basics of Starting a Mainland Company in Dubai  In Dubai there are many areas of focus for mainland company formation, including:  The simplicity of finding office space at reasonable prices with the flexibility to lease or rent an office anywhere.  Flexibility to collaborate across all the UAE.  No restrictions on handling reliable archives.  No yearly inspection.  What is the purpose of setting up a mainland company?  Due to the following factors, Mainland Company formation in Dubai is a great decision:  Major Location  With regards to the Middle East, the UAE ends up being a crucial region. It helps to expand business operations and gives business speculators opportunities to enter the other GCC countries.  Optimal Economic Policy  The UAE government offers business financial experts a variety of offices, including 100% remote ownership, no close-to-home expenses, and others, to approach and begin business arrangement forms associated with various ventures.  Ideal Corporate Culture  Regardless of the size or nature of the business, Dubai provides a lovely business atmosphere, which is why it continues to be regarded as the best location by novices, businesspeople, and established business experts.  Abundance of Natural Resources  The UAE has wide-ranging access to common resources that are very helpful for maintaining both a high standard of living and doing business.   Strong Network  The UAE has a strong network that supports transportation, including highways, airports, and offshore routes. This adaptability encourages business owners to establish their enterprises in Dubai and carry out the necessary business activities.  Simple Business Formation Procedure  Mainland company formation offers a straightforward way to begin and end the process of business setup. Entrepreneurs, for the most part, want to speak with professional business experts about how to get similar tasks finished more quickly.   Simple Office Space Availability  A growing focal point for business foundations has been mainland company formation. In this way, you never have to worry about finding an office to launch your business and carry out the procedures. Get your Dubai Mainland Co-working License with Shuraa.  No Restrictions on Conducting any Business Activities  Mainland company formation companies have the flexibility to conduct their business in the entire UAE, provided that the activities are legal and relevant experts vouch for the same.  Simple Visa Availability  There is no pressure during the visa application process. If you have all the essentials needed to support yourself, it becomes simple for entrepreneurs to obtain a financial specialist visa and a living arrangement visa.  Types of Licences and Activities  More than 3000 business activities are available for Dubai Mainland Business Setup. The licence and any other necessary requirements will depend on the type of business, the organization’s structure, and the operating country.  Contact us for more information on business operations.  Commercial License   In the United Arab Emirates, companies that engage in the trading and supply of goods like:  Trading of mobile phones and accessories.  Trading of cleaning, safety, and construction supplies.  Trading of chemicals, oil & gas.  Automobiles and trading of spare parts.  Trading of gold and precious metals.  Industrial License  Manufacturing and other industrial activities, such as:   Clothing and uniform production.  Manufacturing of dairy and meat products.  Making fishing nets and producing food for animals and birds.  Manufacturing of sweets and pastries and bottling of mineral water.  Manufacturing of carpets and embroidered fabrics.   Professional License   For individuals or business organisations that provide knowledge as a service to the general public in the UAE, such as:  IT infrastructure consulting firms for
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minimum investment start business in Dubai

Minimum Investment to Start Business in Dubai

Starting a company in Dubai is a potential business venture for international investors. And why not? UAE is one of the top business areas for a new investor with a low budget. Consequently, an investor needs to know the investment required for business in Dubai.  According to the Dubai Media Office, Dubai topped the global list for luring foreign direct investments in 2021, with 418 greenfield projects. Furthermore, according to the annual Dubai FDI Results and Rankings Highlights Report, the city’s position on the global stage rose from third to second in 2022. Given Dubai’s investment and business opportunities, many investors have this one common question: What is the minimum investment required for business in Dubai?  If you have the same question, keep reading. This blog will tell you the minimum investment required to start a business in Dubai, Free Zones offering minimum investment business, and share some profitable business ventures you can start. Top 3 Free Zone Minimum Investment Start a Business 1. The International Free Zone Authority, Dubai (IFZA) The IFZA, located in Dubai’s Silicon Oasis Area, is one of the UAE’s competitive free zones. It is one of the most affordable free zones in the UAE for starting a business because it offers a variety of low-cost company formation packages. The Dubai Department of Economic Development determines the range of commercial activities that can be carried out in this free zone. A maximum of 7 activities may be chosen under a single license. The IFZA free zone offers the following license categories: Service  Trading  Consulting Establishing a corporation in IFZA may reduce your company’s capital requirements and annual audit costs. 2. Dubai CommerCity Dubai CommerCity is a brand-new free trade zone in the United Arab Emirates that provides business owners with first-rate amenities and a wealth of commercial infrastructure. The Free Zone, located near Dubai International Airport, serves as a hub for global trading companies.  This Free Zone is ideal for businesses whose operations rely on logistics. It is home to more than 170 businesses. Furthermore, it provides the necessary assistance and commercial amenities for investors looking to scale up their business initiatives quickly. 3. Sharjah Media City (SHAMS) SHAMS, the UAE’s fastest-growing media-free zone, is home to some of the country’s largest industries and corporations. Sharjah fosters a dynamic and expanding environment for aspiring business owners. As a result, SHAMS is now one of the best free zones for established businesses and new investors with minimal investment requirements. SHAMS offers over 150 business activities across various sectors. Contrary to the name, the company’s operations extend beyond the media industry. Top 4 Minimum Investment to Start a Business in Dubai There are numerous business opportunities you can pursue in the UAE. If you’re a first-time entrepreneur with a limited budget, consider the following business ideas: 1. E-Commerce Business In the coming years, digital will undoubtedly be the way to go, with online becoming the new standard. According to the most recent Dubai Chamber of Commerce estimate, e-commerce trade in the UAE is expected to reach $9.2 billion by 2026, accounting for 12.6 percent of total retail sales in the same year. The future of e-commerce is as bright as it can be, as more people feel comfortable making purchases online, making it a profitable business idea. 2. Childcare Business Daycare is another critical service the UAE urgently needs as more foreigners relocate there for work. Many working couples in Dubai and the other Emirates require someone to look after their children. The childcare industry is one of the best businesses in Dubai that does not require significant initial investments. Furthermore, this business idea offers a lot of flexibility and opportunity to scale.  3. Recruitment Agency Many companies in the UAE are always looking for employees. Due to rising demand and competition, they need help to make significant employment decisions. Consequently, these businesses use recruitment agencies to fill their hiring needs.  According to a survey conducted by job portal Bayt and market research firm YouGov, almost 70% of UAE firms intend to hire new workers in the upcoming year. Furthermore, since skilled and semi-skilled labourers who travel to the UAE in search of work make direct contact with recruitment agencies, it becomes easy for you to onboard top talents and help your clients in the hiring process 4. Transportation Business The UAE offers excellent transportation infrastructure. According to the Roads and Transport Authority, Dubai’s commercial transport industry increased by 37% in the first quarter of 2022 compared to the previous year’s period.  Due to its robust connectivity with the sea, land, and air, it is the perfect location for a transportation or logistics business. One might choose from any of the following options to launch a business in Dubai: Air cargo transportation Car rental Bus tours Courier service What Is the Process of Starting a Business in Dubai? Follow the guidelines below to launch a business in the UAE: Determine the Nature of Your Business Activity. Determine Your Company’s Legal Structure. Register the Trade Name. Select Business Space and Location. Obtaining the Initial Approval. Registration and Payment of Fees. What Documents Are Necessary to Start a Business in Dubai? You will need to submit the following general documents to the authorities to start a business in Dubai: A copy of your passport Passport-size photographs A copy of your entry visa You may have to submit additional documents, depending on your choice of activity. Our experts can assist you with all the business paperwork and information regarding the investment required for business in Dubai to help you set up your business effortlessly.  What Is the Minimum Investment to Start a Business in Dubai? An increasing percentage of startups think Dubai is a better place to launch a business than other places worldwide. However, the cost of starting a business in Dubai has risen, making it more difficult for new businesses to enter the UAE market.  Typically, a mainland business company formation will cost nearly 50,000 AED to AED
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crypto license in Dubai

How Do I Get a Crypto License in Dubai?

The introduction of Web3 has made cryptocurrencies a hot topic. It is not surprising that Dubai is interested in exploring cryptocurrency and has already taken the necessary steps for a city that has always been ahead of the curve. Therefore, the time is now if you want to get a crypto license in Dubai.  The city has become one of the world’s most well-known markets for bitcoin platforms due to the remarkable growth of bitcoin firms which have fundamentally altered business operations globally. The United Arab Emirates is among the top four nations ready to adopt cryptocurrency. According to statistics, the country ranks 6.2 out of 10 in terms of crypto readiness.  You can buy and sell distributed ledger-based crypto-commodities (Proprietary Trading) in Dubai if you have a cryptocurrency license. However, it cannot be used as a broker or exchange. Now, if you want to get a crypto license, keep reading. This blog will walk you through cryptocurrency, its need, procedures, and costs of a cryptocurrency license in Dubai. What Is Cryptocurrency? Cryptocurrency is a digital or electronic currency that uses encryption to protect transactions. Furthermore, rather than a centralised issuing or regulatory organisation, cryptocurrencies rely on a decentralised mechanism to log transactions and issue new units. Additionally, because it is a peer-to-peer system, anyone from anywhere can send and receive money. Cryptocurrency payments are not physical currencies that can be carried around and exchanged; instead, they are recorded digitally in a database that identifies individual transactions. Some examples of cryptocurrencies include: Bitcoin Ethereum Solana Litecoin Ripple Cardano Polkadot Why Do You Need a Cryptocurrency License in Dubai? A crypto license in Dubai is required to start your cryptocurrency business. The Dubai cryptocurrency license is classified as a “commercial license.” This “commercial license” governs all commercial processes involving trading in Dubai.  The cryptocurrency exchange company and commerce in Dubai are linked to Bitcoin and other crypto coin trading. With this digital currency trading license, you can conduct all other significant cryptocurrency tradings in Dubai. Getting a crypto license will significantly enhance your business. Some of the benefits include: Your company’s transaction expenses are significantly reduced due to the absence of gateways and service fees. Cryptocurrency trading provides strong encryption, ensuring the security of all transactions. Given the recent uptick in bitcoin trends, it will help you distinguish yourself from your competitors. The Dubai government has begun developing rules to encourage Dubai residents to invest in various cryptocurrencies. According to statistics, 25% of millionaires in the Middle East have already invested in cryptocurrency. For Dubai tax residents, there is no personal income tax on bitcoin earnings. There is no tax on capital gains, business revenue, or salary, whether you trade actively or simply hold. What Do You Need to Know Before Getting a Crypto License in Dubai? Technical knowledge has proven to be highly beneficial. To start a cryptocurrency business, you must have a strong interest in technology. You must have specialised skills to understand the fundamental blockchain technologies properly. The blockchain industry is not for the faint of heart; it is a high-risk, high-reward venture. Because blockchain is a new technology, it is prone to volatility and fluctuating exchange rates. Diversifying a company’s product line and portfolio is one of the finest things a crypto license holder can do to avoid overexposure to cryptocurrencies. To weather market downturns, risk-averse organisations should diversify their revenue streams. How Do I Apply for a Dubai Cryptocurrency License? To obtain a cryptocurrency license in Dubai, follow the steps mentioned below –  1. Choose a Company Name Do you already have a business name for your cryptocurrency? You can submit it to the appropriate governing body for approval. If not, contact business experts who can assist you in cutting down your list of potential company names. You must also ensure that you follow all name convention rules established by the government. Furthermore, avoid using insulting language or phrases that denigrate someone’s sincerely held religious or sentimental beliefs. 2. Make Contact With the Appropriate Authority The United Arab Emirates Virtual Asset Regulatory Authority (VARA) oversees cryptocurrency-related businesses. To begin a cryptocurrency venture in the DIFC free zone, for example, a company must have at least 5 years of legal existence in the cryptocurrency space in another country. The DMCC, another free zone in the UAE, offers a self-proprietary crypto license, allowing you to launch your cryptocurrency business there. 3. Obtain Cryptocurrency Authorisation The next step to obtain a crypto license in Dubai is permission. You must complete all necessary paperwork and approvals. Working with business license experts is therefore recommended. We file your application after carefully reviewing the data to ensure you receive your license in a single transaction. 4. Follow All Compliance Protocols Like other forms of financial transactions, the UAE strictly regulates cryptocurrency trading. The SCA’s Crypto Assets Activities Regulation (CARR) rules establish general operational guidelines for cryptocurrency businesses and users. There are also additional anti-money laundering and anti-terrorist funding regulations. These regulations and KYC and AML monitoring requirements necessitate a strong compliance network. It requires that all deposits and withdrawals be made only from the client’s bank account. All cryptocurrency business owners must strictly adhere to all anti-money laundering regulations. Furthermore, your company must follow the approval and licensing standards imposed by the regulating bodies. Moreover, businesses that violate safety and compliance requirements face legal action from the government. What Documents Do You Need to Get a Crypto License? In the UAE, licensing for cryptocurrencies is strictly regulated. As a result, you need to present genuine documents. Some of them are as follows: A copy of your passport Passport-size photographs A copy of your entry visa You’ll need to provide a few more documents. Contact the professionals at the Shuraa UK branch for the complete list of documents. What Is the Cost of a Crypto License? Obtaining a crypto license should be simple if you meet all the requirements. Although the crypto license cost in Dubai will vary depending on the applicable
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Setting up business in UAE

Setting up business in UAE

Setting up a business in UAE is the dream of several investors and businessmen worldwide. And why not? There is no better place in the UAE than Dubai for a business setup. The Middle East and North Africa (MENA) trading hub Dubai offers several benefits for businesses looking to flourish, expand, and connect with the rest of the globe. The first-quarter GDP growth rate was higher than the Central Bank of the UAE’s earlier estimate of 8.2 percent, much faster than the 2.1% pre-pandemic GDP level. This occurred during a robust economic recovery fueled by increased tourism, a thriving real estate market, and higher oil prices. This blog will walk you through the considerations to make when Setting Up a Business in UAE. Benefits of setting up business in UAE The following are some reasons that make setting up a business in Dubai popular: 1. World-Class Infrastructure Dubai has one of the world’s most advanced transportation, social, and economic infrastructures, with a major project to expand the infrastructure of Dubai Maritime City (DMC), including DP, a purpose-built maritime hub which is expected to cost Dh140 million.  Due to the excellent infrastructure in Dubai, which is ranked among the best in the world for infrastructure investment attractiveness by the Global Infrastructure Investment Index, it is easier than ever to start a business here.  2. Strategic Location As Dubai is geographically located in the centre of the world, it has strong trade ties with major cities such as Moscow, Hong Kong, London, and Hamburg. Dubai, one of the world’s leading trading centres, has experienced tremendous trade growth and hosts more than 100 international trade exhibitions annually.  Participating in these fairs allows Dubai-based businesses to network with global corporations and explore new opportunities without compromising daily operations. 3. Getting a Residence Visa Is Convenient Dubai’s visa policy is exceptionally accommodating to expats. You can get a residency visa for yourself, your family, and your employees by starting a business in one of Dubai’s free zones. With your visa, you gain access to additional benefits such as: Opening a bank account in your community Long-term housing leases Freedom of movement Quick application for visas to various nations and regions, including Schengen nations. 4. International Trade Opportunities Dubai has been at the forefront of non-oil exports, supporting the country’s goals. Dubai’s non-oil external trade volume increased by 10% to 48 million tonnes in the first half of 2024. Exports increased by 30.8% yearly to 10.1 million tonnes, while re-exports increased by 10.6% to 7 million tonnes. This maintained trade’s position as the backbone of Dubai’s economy. According to sources, Dubai granted 45,653 new business licenses in the first half of 2022, a 25% increase from the 36,647 given in the first half of 2021. 5. E-Governance The UAE Government provides a variety of e-governance services through its official website, www.government.ae. Customers, clients, and visitors have a plethora of services at their disposal, ranging from legal procedures, approvals, inquiries, and more. Thanks to eServices, UAE entrepreneurs can now easily access various services without leaving their homes or offices. Dubai is ranked first in the Arab world and fifth overall in the Local Government Online Services Index 2022 as per UN’s Digital Government Report. Steps to Setting up a Business in UAE Setting up a business in Dubai is simple if you follow the correct process. Here is a brief overview of each stage in the entire process: 1. Choose Your Business Activity The first step in launching your business and obtaining a license is determining the type of endeavour. Whether you want to launch a little business or a big firm in Dubai, there are over 2100 business activities, all of which fall into distinct categories within the industrial, commercial, professional, and tourism sectors. 2. Choose a Company Name Choosing a trading name for your company is the next step. Names containing foul language that could be interpreted as insulting to a religion or that refer to political organisations or the mafia are prohibited. You must prove that the person named after the business is an owner or partner (no initials or abbreviations allowed). Choosing a name for your company can take time and effort. To save time and effort, consult a professional to help you follow the rules and get your name approved. 3. Rent an Office Space Depending on your requirements, you can rent an office space or choose a shared workspace at a business centre. Submit an application to Ejari to obtain your lease. You cannot obtain your business license unless you have a tenancy agreement (an ejari). Remember to save your unique Ejari number in case you need it later. 4. Request for Initial Approval Before getting your license, you must first submit an application for preliminary clearance to ensure that the Dubai DED has no issues with you starting a business. This application can be obtained directly, online, or from a third party (e.g. through a law firm). 5. Obtain the Required Business License A business license is your official permission to conduct all business operations listed on the license. It opens up many lucrative business opportunities in the UAE, and your unwavering determination to succeed takes over. Entrepreneurs must provide the necessary documents and authorization to the relevant economic agents to apply for a license. You may apply for external approvals if the license does not cover any of the required permissions. All of your papers will be thoroughly reviewed. If there are no issues, the regulators will approve and issue your company license in just 4 to 5 working days. Additionally, ensure that your license is still valid by renewing it annually. 6. Obtaining a Bank Account and Managing Your Visas After completing all the preceding steps, you can apply for visas for both you and your family. Domestic help and family members can also obtain visas. You must contact the proper authorities, provide the necessary documentation, and get a visa permit. If you are setting up a
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