For global travelers and foreign investors, the UAE remains the desired place to establish a local base with convenient connection, fiscal and tax structure that is beneficial, and ease of carrying out business. To form a business in the UAE, complete knowledge and understanding of the system and terrain of business is required. Company formation in Dubai is one of the easiest and fastest means of getting your personal residence in Dubai. The program enables foreign investors to own their businesses or acquire shares of existing companies. It comes with appealing benefits for your business and you.
1 Why Dubai?
Dubai is an attractive city in the United Arab Emirates (UAE). It is sometimes wrongly adjudged as a country. Dubai is among the most frequent tourist centers in the world. Connectivity is the reason for the tremendous rise of Dubai as one of six (6) megacities in the world. The UAE has witnessed an incredible transformation over several decades. The fantastic coastline and aviation hub makes the association and transportation of citizens of different countries in a city easy.
The UAE has become a financial hub with various thriving industries from a nation of pearls and fishing. Its political system is stable; taxation is business-friendly, robust capital flow and trade restrictions are liberal. Dubai’s free economy is convenient for foreign investment and business. The state policies are exceptionally suitable for Small and Medium Enterprises and the business terrain.
2 Creating a Business in the UAE
Creating a business in UAE is relatively easy. The government of Dubai offers support for anyone who wants to establish a business in Dubai. Its tax structure is one of the most attractive—zero federal income tax. The corporate tax applies to only the oil industry and the banking sector. Value Added Tax (VAT) is fixed at a flat rate of 5%. This makes UAE’s fiscal and tax landscape to be one of the most attractive globally. Most companies that accept sole proprietorship require an Emirati (a native and citizen of UAE) as a partner with a 51% ownership.
The golden part of forming a company in the United Arab Emirates is doing that in Free Zones. Free Zones are unique regions that are admired among foreign investors. Free Zones offers zero personal and corporate tax. In addition, it also provides tax exemptions for import and export and 100% foreign company ownership.
Dubai and the UAE are tax-free and continually remain suitable and desired by entrepreneurs, freelancers, and influencers. By forming a Dubai Freezone company, a residency permit can be obtained easily.
3 The importance of having a Personal Residence
- You can open a personal UAE bank account in any bank of your choice.
- Accessibility to financial services.
- Access to Driving license
- Able to access healthcare and insurance services.
- Access to private and government Education.
- You will be able to work, save and invest.
- Travel Visa-free to more than 127 countries.
- A physical residence is not required.
- Language skill is not required.
4 Guide to apply for your Residence
Step 1: Visitation to Dubai. Visit Dubai on a tourist visa. This visit will grant you permission to sign all documents needed and also register your business or company.
Step 2: Choose the type of company. Review the “company type” and its segment for further details and information
Step 3: Get your entry permit and establishment card.
Step 4: Request for your Emirate ID and go for a medical test.
Step 5: Get your visa stamp on your passport, and you are good to go.
Conclusion
Dubai and the United Arab Emirates have excellent infrastructure, professional expertise, low-cost tax rates, and convenient services that make Diana’s and UAE a suitable business environment. Forming a company in Dubai to get your residency is synonymous with having two birds killed with a single stone. You enjoy a good income and obtain a residency permit.
