The question on many entrepreneurs’ minds when they think about the UAE is how can I start a low cost business in a Dubai free zone? It makes sense – Dubai is the perfect place for businesses to thrive, with a location at the cross-roads of several continents, incredible ease of doing business, as well as being a low tax environment. And SMEs are the backbone of the UAE economy.
Getting a low cost free zone license is easy, as long as you work with a company formation specialist who understands the environment, the laws, and can ensure you are set up and running properly – and fully compliant.
So in this article, we will cover:
- How to start a business in Dubai
- Can I start a business in a Dubai free zone?
- Cost of business setup in Dubai
- What is the cheapest free zone in the UAE?
- Working with Creative Zone
How to start a business in Dubai
The most cost-efficient way to set up in Dubai is in one of the emirate’s free zones. They cater to specific industries, so you’ll be setting up in a zone that is tailored for the kind of company that you run.
Each free zone is slightly different, but generally you can expect 0% tax rate, no currency restrictions, full customs tax exemption, and repatriation of profits.
So, what are the steps to getting your low cost business setup in Dubai? Let’s break it down.
Can I start a business in a Dubai free zone?
The short answer is yes. These are the key steps on your route to setting up in Dubai.
1. Decide on your business activity: It is vital that your chosen activity aligns exactly with the business activity you are going to undertake. To make sure everything here is clear and compliant, it’s worth bringing in the services of a company formation specialist to avoid fines or even cancellation of your license.
2. Choose a company name: The UAE is fairly strict when it comes to naming companies, so it’s important to be aware of the regulations. Essentially, you must avoid any language that could be seen as offensive or blasphemous. You must avoid any name that is already held by a well-known organisation. If you’re naming your company after yourself, ensure that you don’t abbreviate your name. So Mike Smith Solutions is fine, but M Smith Solutions is not. Of course you will also need to ensure your chosen company name is still available for you to register.
In all cases, speaking with a company formation expert means that they can guide you through the exact requirements, so you can set up not just quickly, but remain fully compliant throughout.
3. Applying for your business license: When working with a company formation specialist, this process can usually move quite quickly. If you are doing the application – or working with a professional – it’s important to put together a few key documents ahead of time:
- Completed application form
- Passport copy of the proposed owner or owners
- Two colour passport size photos
4. Apply for your visa: The visa process for you and your employees (as well as dependants such as spouse, children, or domestic worker) is relatively straightforward. The maximum number of visas you can apply for depends on the size of your company and, for dependent visas, your personal income.
5. Opening a corporate bank account: The last step is getting your UAE bank account. With strong anti-money laundering laws in the UAE, it’s often difficult for entrepreneurs new to the country to comprehend all the different regulations. Again, working with a specialist makes the whole process much easier.
Cost of business setup in Dubai
As we have discussed, getting a low cost business setup in Dubai is quite straight-forward. The cost of business setup in Dubai depends on the size of your company, the specific business activities you intend to carry out, and so on. But you’re looking at around AED 20,000 as a starter price.
As always, contact Creative Zone for the latest pricing information, and to ensure you get a tailored price for your low cost business setup in Dubai that fits your exact requirements.
What is the low cost free zone in the UAE?
Every month different free zones run special offers, so it’s not possible to list the cheapest free zone but please get in touch with Creative Zone to get information on the cheapest UAE free zones based on current offers.
Working with Creative Zone
So those are the key points around licenses and the cost of business setup in Dubai . It’s fairly straight-forward and you should be up and running quickly.
When you’re looking to set up a new company, or even as a freelancer, you can be sure what you’re getting from Creative Zone is the latest, up-to-date info from people who deal with this every day.
While the setup process can be somewhat stressful, you can fast-track it by working with a company formation specialist. It’s the quickest way to get set up in the UAE, letting us take care of all the details and ensuring your application is free from errors.
We can also help you with opening a corporate bank account and also offer important advice on the type of financial institution that would best suit your requirements.
Here at Creative Zone, we offer you the best solutions to start your company in the UAE. You get fast, reliable and unbiased advice on your unique business setup requirements. We can help you choose the right kind of license for your chosen business activity/activities and take you through the entire process from start to finish.
You can let us deal with the hassle of registering a company while you focus on your business. And working with us means you get the best budget friendly and cost-effective solution to help make your business dream a reality.
Over 10 years, Creative Zone has helped over 36,000 entrepreneurs set up their businesses. Whether it be a mainland business setup, offshore company setup, free zone company setup or issuing of trade licenses and any related activity for registering a company, Creative Zone is your one-stop-shop.