Starting a business in the UAE is extremely expensive compared to the US. In the US, you can get a trademark for less than $200 and start a business from your mom’s garage. In the UAE, this process can cost thousands of dollars. The costs are not as high as you might think, however. Here are some tips to help you get started. Read on to learn more about whether or not you should get started with setting up an offshore company Dubai.
Limited Liability Company
If you’re looking to set up a business in the Middle East, Dubai might be a good choice. This UAE emirate has a favorable tax regime, free trade zones, and excellent infrastructure. While the UAE does have some tax laws, the fees associated with setting up a limited liability company in Dubai are minimal compared to other jurisdictions. If you’re considering a business in Dubai, here are some of the costs associated with LLC company formation:
Choosing a name for your company is the first step. Once you’ve chosen a name, you’ll need to choose a location. This can be a warehouse or physical office. Once you’ve chosen the location, you’ll need to agree with a local sponsor, who will be the company’s legal owner and own 51% of the company. After confirming the name and location, you’ll need to fill out an application and submit the required documents to the appropriate authorities.
Offshore Company
The cost of setting up an offshore company in Ajman or Dubai depends on the country and type of offshore company you are setting up. UAE offers a stable economy, excellent banking facilities, tax exemption, and a regulatory framework. Its seven flourishing hubs make it an ideal offshore location for business. For the best offshore company formation services, contact AURION, a registered offshore agent in the UAE. Its registered offshore agents ensure that the workforce is never abused and that the company and its employees are protected under legal measures.
The process of setting up an offshore company in Dubai includes the incorporation of a bank account. While a UAE bank account can be obtained for an offshore company, you can open an account in another country as well. Moreover, offshore companies are eligible for multi-currency accounts, allowing you to carry out international operations. Offshore companies can own properties in Dubai and have international shareholders. However, setting up an offshore company requires more work.
Free Zone Company
Setting up a free zone company in Dubai is comparatively affordable. However, there are a few things to consider before you set up your business in the UAE. Most of the government processes are mandated by a local mediator. This mediator will require a certain amount from you during company establishment and license renewal. You should make sure that you can afford this mediator fee. The average fee to set up a free zone company in Dubai is AED 50,000.
The cost of incorporating a free zone company in Dubai depends on a number of factors. The primary activity of your business will determine how much you pay for a license. Depending on the type of license that you choose, this fee may range from a few thousand dirhams to more than AED 9,000 or more. Once your license is granted, you must pay a license renewal fee, for everyone, up to three years.
Mainland Company
The cheapest option is to set up a Limited Liability Company (LLC) in the mainland UAE. With this type of company, you can expand your business and hire new staff by setting up a branch on the mainland. A qualified Business Consultant in the UAE will help you set up the LLC in the mainland and coordinate with Government Authorities to prepare the required documents such as an application form, special approval, and tenancy contract.
The cost of establishing a Mainland company in Dubai depends on the nature of the business. It can start with as little as AED 15,000 or go as high as AED 50,000. Other costs include hiring a lawyer and visa application. Business trade licenses must be renewed annually. You can save some money by obtaining a pre-license before setting up your company. But you should also keep in mind that it will take at least a month to receive the license. Contact Sorp business setup company in Dubai to get started.
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