24 Nov Cost of Setting Up a Business in Dubai
Indian entrepreneurs and business aspirants don’t need to worry about the cost of setting up a business in Dubai anymore. Why? Because the UAE’s government continues to curb the establishment costs to offer lucrative business opportunities and investment avenues.
Moreover, the business consultants at Shuraa India are there to supervise the overall cost of starting a business in Dubai. This ensures that you don’t pay anything extra for launching your dream venture in the UAE, the land of opportunities.
What’s the Cost of Starting a Business in Dubai?
The cost of setting up a company in Dubai is determined by a variety of factors. These include your business operations, license type, location, and more. Furthermore, a Service license can be obtained for as low as AED 20,000.
Therefore, any figure between AED 20,000 and AED 30,000 is a safe estimate. It’s important to keep in mind that the cost of forming a company in Dubai increases if you need specific privileges.
For instance, requirements like a foreign trading name or approval from a governing body add to the overall cost. You can contact Shuraa India’s company incorporation experts, and we’ll make sure you don’t overspend at any point during the process of forming an LLC in the UAE.
What are the Various Costs Involved in Forming a Company in the UAE?
1. Registration Fee for a Business
The cost of forming a company in Dubai is determined by the number of shareholders, visa applications, and commercial activity. The Indian entrepreneurs can contact the Shuraa Company to register their firm with DED.
2. Business License Payment
To conduct risk-free business in Dubai without triggering any compliance concerns, all legal entities in the UAE must have a valid trade license. You can apply for the following licenses to launch your dream venture in the Emirates:
- Commercial License
- Professional License
- Industrial License
- Tourism License
The cost of a business license in Dubai depends on your business activities and chosen jurisdiction.
3. Cost of Securing Office Space
It’s vital to have an office in Dubai. This is because it’s your official address, and all legal paperwork and correspondence are sent to this location only. Moreover, Shuraa’s business experts can secure economical office space in Dubai.
We can assist you in locating the appropriate workplace for your firm, whether it’s a completely digitized office or a virtual space for establishing your business from afar.
4. Initial Approval and Payment for Trade Name Reservation
The initial approval certificate costs roughly AED 150, and you have six months to complete the process of establishing a business in Dubai. In addition, It’s a one-time government fee, similar to the AED 620 charged for a trade name reservation. However, if you want to use a foreign trading name, you’ll have to pay more money to the relevant authority.
5. The Annual Fee of an LSA
If your business activities match the qualifying conditions, you can enjoy 100% ownership of your business, even on the mainland. All you need in this situation is the assistance of a local service agent who can support you with numerous legal procedures.
However, he/she won’t have any rightful possession of your firm. The LSA will just charge a small annual fee to act as your business setup administrator. Therefore, you won’t need to worry about the compliance & cost of setting up a business in Dubai.
What are the Benefits of Company Formation in Dubai?
Listed below are a few among the many advantages of company incorporation in the UAE:
- Businesses in Dubai benefit from a number of tax concessions. The Indian business aspirants don’t have to pay any corporate taxes, and you’ll be able to repatriate all of your profits. Additionally, there’s no minimum capital requirement, and businesses are only required to pay a modest VAT of 5%. To learn more about the taxation protocols in the UAE, contact the legal professionals at Shuraa India.
- In Trading Companies, Expats now have full foreign ownership of their companies, even in the case of a mainland establishment. The credit for the same goes to the recent modifications to the Companies Law. Moreover, this means for Trading Companies, you won’t require a local sponsor (UAE national).
- The best thing about establishing a business in the Emirates is the accessibility to a wide range of industries. Additionally, all major industries find lucrative business opportunities in this region, and MNCs alongside emerging startups find a home in Dubai. The DED maintains a list of all legal business activities from which you can choose the ones that best suit your needs. Furthermore, you can get external permissions for operations that aren’t covered by the DED.
Documents Required for Setting Up a Business in Dubai
Here’s a curated list of documents you need to submit to the concerned authorities for setting up your company:
- List of trade names (3 to 4)
- List of business activities
- Passport copy of the shareholders
- UAE immigration Entry stamp or visa page
- Passport size photograph as per the protocols (size, background color, etc.)
Start your Business in the UAE!
The cost of setting up a company in Dubai depends on multiple factors. Therefore, there’s no one-fits-all estimate for the overall company formation cost. However, you can start any business of your choice at affordable rates when you collaborate with Shuraa.
The business incorporation experts at Shuraa India provide end-to-end business assistance. Furthermore, we take care of documentation, translation work, licensing, baking, and much more. The best part is that we also become your silent partners at nominal prices.