there Two different ways to establish a company in Dubai for foreigners in 2022. The first way is through the use of The Internet, as the websites launched by the Union Government make it easier for investors. The second method is through a series of structured steps.
Setting up a remote company is a great way for individuals who want to start their own business are in a different country but do not wish to travel there. This service allows investors to complete all incorporation procedures online, including submitting a document signing request and obtaining an official license for their new company from the government of the country of incorporation.
It is much easier to start a business remotely than to start one in person. There are no costs associated with setting up office space, utilities, or equipment - all of which can be saved in startup costs. This allows money to be allocated to other important things, such as product development and team building. Lower start-up costs facilitate company growth, and this allows for more investment in areas such as product development and customer service.
What are the advantages of setting up a company in Dubai?
There are many reasons Select Dubai as your company location. Some of the advantages include: Dubai has an excellent economic infrastructure designed to enable business owners to take advantage of the opportunities in the city and run their businesses effectively from a distance. The city provides smart e-services and digital infrastructure making it an advantageous location for businesses. There are also free zones in Dubai that do not impose import and export duties, making it an ideal destination for foreign investors.
If you are a startup owner looking to grow or a founder looking to expand your business, Dubai is an ideal location as it is a business gateway between East and West. With a large number of businessmen, expats, tourists and shopaholics, Dubai is one of the most important centers in the world for exhibitions and conferences. This makes it an expanded international market. Dubai is a safe and stable investment environment, and it is one of the most economically, socially and politically stable cities. In addition, during the epidemic, it has overtaken other cities in the world in terms of economic prosperity. The Dubai government is interested in promoting and sustaining the city's growth, as evidenced by the development of laws and regulations that support safe investment and corporate growth. It also appears in the ongoing legal reforms that keep pace with rapid global changes, long-term visas and low-cost incorporation processes designed to set businesses up for success and profitability.
Get a license to start a virtual company:
Virtual Company License is a license that allows business owners to set up their company in Dubai digitally with full legal recognition. This license is available to business owners from over a hundred countries, who can choose from pre-selected sectors related to innovation, technology and services. This initiative allows foreigners to complete the process of establishing a company in Dubai, including submitting and signing documents, which saves the travel burden on the founder and requires lower costs compared to traditional methods. However, sole proprietorship is the legal form of hypothetical companies, which means that the company is owned and controlled by a single individual who owns all of its assets and profits. The license referred to a number of governing controls, including that the license does not automatically open a commercial bank account in the UAE, but will facilitate the account opening process for businessmen in accordance with the controls of each bank. The company also remains subject to taxation in the country where the founder resides. In addition to the above, the license does not grant any of the company's members a work, visit or residence visa that guarantees their arrival to the United Arab Emirates. The initiative's official website provides a heat map showing which countries are eligible and which are not. Eligible countries are mostly in Europe, Asia and the Americas, while non-eligible countries include most Arab countries. We can see that many of the eligible countries include countries in Europe, Asia, and the Americas, in addition to the GCC countries, Palestine, Lebanon, Tunisia, and Morocco.
The three main business activities permitted in the virtual license allowing foreigners to set up a company in Dubai are: computer programming, design, advertising and printing. These three sectors include software design, fashion and jewelry design, interior and garden design, painting, calligraphy, product design, advertising and print.
4 steps to establishing a company in Dubai for foreigners:
- First, visit the Dubai Virtual Trade City official website to fill out an application form. You will need to provide your name, contact information, date of birth, and company name. You will also need to upload a copy of your passport and proof of your residential address such as an electricity bill. Finally, you'll need to take a photo with a white background.
- Step 2: Wait for the examination period Once the application is completed, it will be sent for approval by the government authorities in the emirate. After a month has passed, you will receive an e-mail informing you of the outcome of your request, whether approved or rejected.
- After your application has been approved, you can book an appointment online. You will need to pay the service fee in addition to the verification fee in addition to the cost of the appointment in the selected country.
- Step 4: Paying the license cost Once the identity has been successfully verified, it is time to pay the cost of the Dubai trade license through the payment portal on the initiative's official website. The license cost varies depending on the validity period of the license that you selected in the online company registration form.
How to establish a company in Dubai online:
When setting up a new company, one of the most important challenges to face is the staffing challenge. Fortunately, freelancing has provided us with radical solutions to this problem, as it is possible to hire an entire team online.
In order to obtain a residence permit in Dubai, a special visa is required. After determining the type of residence visa in Dubai, the visa can be obtained through visa guarantees. This specific visa facilitates work in all areas related to investment in Dubai. The cost of obtaining a residence permit in Dubai can vary depending on the services required, but is usually around 4,500 dirhams. This includes medical examinations and the bureaucratic work required to obtain the proper papers to reside in Dubai.
The advantages of investing in Dubai:
Investing in Dubai can be a very lucrative venture, thanks to the many advantages and facilities of the government. This is why we strongly encourage you to consider investing in Dubai. We will provide you with all the important information you need to get started, such as obtaining a residence visa and up to 5 partners. The ability to establish any type of company, including commercial, service, industrial or other businesses, work visa allowance for expatriate employees, the right of individual ownership of the company without the need for a local guarantee, tax exemption on the entire within the company. The right to fully dispose of the capital and profits, to move between the countries of the Gulf Cooperation Council, to open bank accounts in any local or foreign bank.
Itqan strives to provide clear and concise advice on all current labor regulations so that we can provide professional and reliable guidance on the rights enjoyed by our clients. In addition, we will inform our clients of all costs and expenses that their business may incur so that they can make informed decisions. We believe our solutions are ideal for any business, regardless of size or budget. For more information on setting up a business in Dubai for foreigners, or if you need help starting your own business in Dubai, please contact our team. We can provide you with all the resources you need to get started with the best advisors in investing and starting businesses. .
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As a leading company formation and business solutions provider in Dubai, ITQAN team of business consultants can help you expedite the process of setting up your company as well as reserving a trade name. You can count on ITQAN to complete all the procedures for establishing a company in Dubai in record time if all your documents are ready, without hidden fees and in a hassle-free process.
Mohammed Hamza – CEO
