CONNECTING YOU TO OPPORTUNITY
It is common for entrepreneurs and international investors to want to start a company in the United Arab Emirates. Whether you are just starting or expanding your company, Dubai is a great place to do business. There is no reason not to. Everything from a better company infrastructure to startup exposure, government legal help, and hassle-free business licensing are available to you.
In the UAE, establishing a company requires a licence. There are different kinds of trade licences for different types of businesses, and their cost varies. Several options are available if you want to establish your own business at a low cost. In this post, we will cover the following:
The cheapest trade licence in Dubai with a visa is Meydan Free Zone’s one visa licence. It costs AED 12,500 with monthly interest-free payments of AED 1,042.
For investors, the Meydan Free Zone provides over 1,500 business activities to select from, all of which may be launched quickly, seamlessly, and affordably. The free zone’s proximity to the Meydan Racecourse and the Meydan Hotel makes it an ideal location for foreign investors. Even more importantly, this free zone allows entrepreneurs to socialise and network as they work.
The cheapest trade licence in the UAE with a visa is from SPC Free Zone in Sharjah. They provide a licence with one visa for just AED 8,000. The setup package includes the business licence, Memorandum of Association (MOA), Share Certificate, Certificate of Formation, and Business Activity Certificate. It allows up to five shareholders and three business activities.
SPC Free Zone is the smarter, easier, and quicker alternative for business owners looking to start their business in the UAE. SPC Free Zone is situated in the centre of Sharjah and provides a wide range of contemporary infrastructural amenities, including coworking, retail, storage, and commercial offices, in a business-friendly regulatory environment. It provides a complete business environment with numerous support measures in place to help businesses develop and succeed. Its links with respectable government agencies and business organisations create a world of opportunity for industry participants.
Choosing the most affordable trade licence may feel frugal, but it has its advantages in the long run. The most obvious benefit is the cost savings. You can save a lot on your initial setup costs since there are lower licensing fees and no requirement for paid-up capital or mandatory office space. You can use these savings towards your marketing, recruitment and sales budgets.
A benefit of going with the Meydan Free Zone licence is that you only pay for the visas you need. When it comes to visa allocations, currently, most free zones have a fixed package. For example, you may require only three visas, but they only have a five-visa package. Thus, you are forced to apply for two additional visas you don’t require. Meydan FZ can increase or decrease the number of visas you need.
Another benefit is that the incorporation of your business is quick and easy. For example, Meydan takes only one day to issue your business licence. If you need it quicker, the SPC Free Zone gives it in 45 minutes.
It’s worth getting in touch with one of the business setup managers at Creative Zone if you have doubts about which licence best suits your needs. They can help you through the detailed requirements and the overview of the fees involved in launching your own business.
Why do entrepreneurs like free zones?
While there are many benefits to having a mainland licence, most entrepreneurs prefer free zones for several reasons.
Ownership: Other than a few selected business activities, foreign investors setting up a company on the mainland must share its ownership with an Emirati sponsor in a 49-51% split. Free zones have no restrictions or need for local sponsors, so you have complete control from day one.
Business setup approvals: One of the requirements of doing business on the mainland is obtaining official permission from many government entities. These include the Ministry of Labor, the Municipality of Dubai, and the Department of Economic Development. In contrast, each free zone has its own rules and regulations that apply to new enterprises operating inside its jurisdiction. Also, you do not need permission from government authorities or agencies outside of a free zone to start your business.
Cost: With more than 30 free zones in the UAE catering to various business activities, setting up your company is now more affordable than before. Comparatively, the initial cost of setting up a business in a free zone is much lower than that of the mainland. Furthermore, depending on your business type, the number of shareholders and the size of your office space, that cost can increase drastically.
Workspace: To get a mainland licence from the DED, businesses must secure a minimum of 200sqft of office space. Many free zones do not require entrepreneurs to have a physical office and are allowed to operate from virtual offices.
Tax exemptions: Another significant advantage is the lack of import taxes. Free zone licence holders are exempt from paying customs taxes on items or equipment imported into the free zone.
Working with Creative Zone
While starting a business in Dubai or the UAE appears straightforward, setting it up requires qualified and expert professionals to handle all government-related work. With the assistance of a business formation specialist like Creative Zone, starting your business can be quick, simple, and economical.
When it comes to setting up businesses, Creative Zone is the UAE’s most well-known expert. More than 44,000 enterprises have benefited from our assistance since 2010.
Getting your business set up in Dubai is only the beginning. We can also provide you with additional services such as:
Every client of Creative Zone gets access to our networking tool, CZ Connect. Through it, you can network, interact and develop relationships with our community of fellow entrepreneurs and the region’s business community.
Get started with your company formation in Dubai by taking advantage of our complimentary consultations.
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