Setting Up a Business in Dubai in 2022: A Step-by-Step Guide

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Setting Up a Business in Dubai in 2022 A
Step-by-Step Guide
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• If you want to start a business in another
  country, look no further than Dubai. Dubai, as a
  well-known trading hub of the Middle East and
  North Africa (MENA) region, offers a plethora of
  advantages for businesses and corporations
  seeking to succeed, thrive, and connect with the
  rest of the world.
• Dubais economy has grown by 2.1 percent since
  the beginning of 2019, with total GDP reaching
  USD 56.7 billion in the first six months of the
  year. Furthermore, GDP is expected to rise to 3.8
  percent in 2020. The citys growth prospects have
  attracted an increasing number of entrepreneurs.
  Fortunately, if you want to start a business in
  Dubai, the process is relatively simple, thanks
  to the UAEs free zones.

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What you should know before getting started

• In general, there are a few things you should be
  aware of before beginning the process of
  establishing your business in Dubai. Lets take a
  look at them one by one.

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Economic Zone Offshore vs. Free Zones

• Before you begin, you must decide whether you
  want to operate in a Free Zone or Offshore. Both
  options have advantages and disadvantages
  depending on your needs.

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Free Zone

• If you want complete control over your company,
  consider applying for a licence and locating it
  in one of Dubais free zones. The Dubai
  government introduced the free zone concept to
  entice foreign investors to set up shop in the
  city.
• In Dubai, there are currently over 30 free zones
  in operation. In general, each free zone is built
  around an industry category and offers licences
  to businesses in that category. Following are
  some examples
• Dubai South
• Dubai Multi Commodity Centre (DMCC)
• International Financial Centre of Dubai (DIFC)
• Dubai Internet City (DIC)

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Offshore

• Offshore companies can also be registered in a
  free zone and benefit from many of the same
  advantages. However, it is not a replacement for
  a free zone company. The main distinction between
  a free zone company and an offshore company is
  how the business is run. Offshore companies are
  permitted to conduct business only outside of the
  UAE. They also have no requirements for a minimum
  amount of capital to be deposited prior to
  incorporation.
• However, unlike operating in a free zone, a
  sponsor is required, limiting your foreign
  ownership to 49 percent.

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Licence Types

• Aside from deciding on a zone, youll also need
  to determine the type of licence required. The
  Department of Economic Development (DED) is in
  charge of issuing licences, and you can apply for
  three different types
• License for commercial use
• A commercial licence is required to start a
  business in Dubai that involves trading or the
  buying and selling of goods. This licence is
  applicable to businesses involved in import and
  export, sales, logistics, travel and tourism,
  general stores, and real estate.

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• Industrial permit
• This type of licence is issued to businesses that
  engage in manufacturing activities that manually
  or mechanically transform natural materials and
  resources into finished products. This licence
  applies to textile manufacturing, metal
  manufacturing, and paper manufacturing.
• Professional certification
• Businesses that provide services, artisans, or
  craftsmen are granted a professional licence.
  Medical services, beauty salons, and repair
  services are examples of businesses that apply
  for this type of licence.

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• Sponsorship
• When establishing a setup new business in free
  zone such as Dubai South, no local sponsor is
  required. One of the primary advantages of
  incorporating in a free zone is the ability to
  establish an entity with 100 foreign ownership
  without the need for a UAE national as a partner
  or sponsor.
• Source https//dubaisouthuae.wordpress.com/2022/0
  4/08/setting-up-a-business-in-dubai-in-2022-a-step
  -by-step-guide/

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Contact Us

• Dubai SouthAddress Dubai South Headquarters
• P.O. Box 282228,
• Dubai South, UAE
• Contacts
• Within UAE (toll free) 800-SOUTH / 800-76884
• International 971-800-76884
• Email INFO_at_DUBAISOUTH.AE

https//www.dubaisouth.ae/