Are you looking
to do Business Setup in Dubai?

Are you considering starting a company in Dubai? By making an analysis is possible to determine what the cost of starting a business in Dubai is. Before you can start the process of forming your company, you must first decide which free zone you want to operate in, which can be a difficult task considering that Dubai has around 30 free zones. However, here are some of the four most expensive fees involved in the process to set up a business in Dubai.
  1. Registration Fee for a Business Setup in Dubai   It is a payment made only once to the authorities of the Free Zone during the process of registration in business setup in dubai. The actual amount will be determined by the legal structure of the firm and, of course, the free zone chosen. The cost of business setup in dubai free zone is not very high; it typically ranges from AED 9,000 to AED 10,000.
  2. Fee for a license   One of the most important steps in business setup in dubai free zones is selecting a company license. The three most common sorts of company licenses are commerce, services, and industry. They are a fundamental cost of starting a business in Dubai.
  3. Fees for the office For a proper business setup in dubai, the company must provide a license that requires the rental office space. Each free zone in Dubai offers a range of workspaces to meet your business needs, including serviced, smart, and flexi-desks, which normally cost between AED 15,000 and AED 20,000 per year.
  4. Capitalization of Shares   The minimum share amount can be different depending on the free zone and also de type of operation and the license the company possesses. It can go from AED 1,000 to 1,000,000, it represents an important cost of starting a business in Dubai.
 

1. Make a list of your business's activities. To start your company in the UAE, the starting point is selecting your business activity. There is a myriad of possible business activities to select from. It is fundamental that, on your license application, you include them all.
2. Pick a business name. After setting up the activity of your business comes the next step. That is: choosing a name for your company. There are certain simple norms to follow when it comes to the name you select. Profanity or disrespectful language in any way is forbidden.
3. Decide whether you want a free zone or a mainland configuration. The last step before submitting a license application for business setup in dubai is to make a decision. Do you want to do business setup in dubai in a Free Zone or on the Mainland? Both have numerous advantages. The best setup for you will be determined by the type of your business.
4. Obtaining a business license For both Free Zone and Mainland businesses, obtaining a license is an easy process to start a business in Dubai. The following are the prerequisites for business setup in dubai:

Directly apply for your license to the Department of Economic Development. Also, the Municipality in the Emirate where you will be establishing your business is an option. You must apply directly to the relevant governing authorities if you want to do set up a business in Dubai. Depending on the type of your business and the license required, free zone licenses can typically be granted in a matter of days.

Typically, only a few details and some basic documentation are necessary to do business setup in dubai, such as:

The application form filled out completely A copy of the putative owner's passport Two passport-size color pictures

5. Visa Applications To start a small business, a UAE visa is another paramount. You have to follow a simple process to request your and your staff’s visa.
6. Open a business bank account Due to the UAE's strong anti-money laundering legislation, access to corporate banking facilities is difficult for foreign entrepreneurs.

The entire territory of the Emirates is a gold mine for businessmen. It attracts people from different fields, all with possibilities to thrive with their business in Dubai. If you are an aspiring entrepreneur looking to establish your own firm in Dubai here are the top two rising figures when it comes to the best business to start in Dubai for 2022.
1. Importing and Exporting The import and export industry in Dubai is extremely profitable, and it is, of course, the best business to start in Dubai. Starting an international trade business in Dubai can be profitable in terms of expansion potential and profitability, given Dubai's worldwide central location and economic diversity. Setting up shop in a Free Zone like DMCC can help your company succeed by allowing you to take advantage of zero percent import and re-export duties as well as superior logistics and transportation infrastructure.
2. The Real Estate Industry Dubai is considered one of the most popular ex-pat destinations in the world, with foreigners accounting for 70% of the population. According to a survey, Dubai is the top destination city in the world, with 4.88 million visitors last year, making the real estate business setup in Dubai extremely lucrative. Real estate development, property management, and brokerage are just some of the opportunities available in Dubai's real estate sector.
Aside from the enormous market, Dubai's real estate sector is evolving by supporting PropTech, one of the most advanced real estate technology. PropTech uses technology such as virtual reality, online property listings, and automated payment systems to improve the industry's business efficiency while also improving the clients' real estate experiences. This is expected to be a major game-changer in the real estate business, providing extra chances for new participants. The potential of real estate in Dubai is enormous.

1. Healthcare From this sector, the government expects a revenue of AED 39.4 billion. According to the Dubai Industrial Strategy 2030, medical equipment and pharmacy are one of the main sub-areas of the city. It is indeed a business in demand in Dubai.
When considering investing in the Dubai healthcare market, there are three primary areas to consider: Health-Tech Innovation The Dubai Health Strategy 2021 devotes a significant portion of its attention to innovation, emphasizing cutting-edge technology and automation. While the COVID-19 travel limitations slowed the expansion of the medical tourism industry, the UAE has recovered, with medical tourism revenues estimated to reach AED 19.5 billion by 2023.
Growing Local Demand As the population grows, local investors are likely to assist healthcare providers in expanding business in Dubai during the next six years.
2. Information and Communication Technology As the Dubai government continues to roll out laws and efforts to stimulate tech innovation and recruit tech entrepreneurs in order to become the world's smartest city by 2022, the city technology companies from all over the world. For a business in demand in Dubai such as this one, it represents a huge advance.
Projects like AstroLabs, the Middle East's first Google for Entrepreneurs Global Tech Hub, identified DMCC to be an appropriate location for start-ups looking to expand into new markets. 3. E-commerce The digital transformation of the COVID-19 epidemic helped the business in Dubai, and its retail e-commerce business to reach a new high of $3.9 billion in 2020, a 53 percent YoY increase.
Dubai's adoption of “smart government” projects and programs has been critical to the city's e-commerce sector's growth. Improved logistics, trust in digital payments, and greater security are all elements that have contributed to the growth of the business setup in Dubai and its e-commerce industry.

It is primordial that, as a foreign businessman in Dubai, you learn about all of the practices and customs in the country when it comes to doing business. That is why your first step should be to choose a firm setup agent who can walk you through each stage while also providing advice and help. In order to start a business in Dubai as a foreigner, here is some more information of interest.
Dubai's several types of licenses for a business in demand in Dubai The most common licenses in the Emirates are industrial, professional, and commercial in order to start a business in Dubai as a foreigner.
Each of the licenses falls into a category that its name explains itself. Your activity will define which license to request. You can submit your application once you have determined the type of license you need. While 100% foreign ownership of mainland enterprises is now authorized in many circumstances, it is normally wiser for foreign entrepreneurs to form a business in demand in Dubai, where 100% ownership is guaranteed.
Required documents for a business setup in Dubai Depending on the zone you apply to, the documentation will be different. This happens since every free zone has its own regulations and different protocols to follow. These items are some of the necessary paperwork for the process:

An application form filled out completely A business strategy A copy of your current business license/registration certificate (if you are an existing company, applicable for local companies only) A colored copy of the shareholder or shareholders, and the manager or director of the company. Signatures of the shareholder or shareholders, and the new manager of the company. A total of two years of financial reports (audited) either for the organization or a freelance certificate from one of the shareholder's personal banks (this applies for individuals)

This one can be a simple thing if you do it right. Here are a few steps that you must follow to achieve this goal: 1. Legal entity Determining the type of activity that your company will carry out in Dubai is an important aspect. This is because your economic license will only cover the activities that you select, within those allowed. 2. Brand name It is important to know the government protocols for establishing a business name. The name of the company you are going to start must not contain words or terms that denigrate or offend a community or religion. 3. Location Since each business zone has its advantages and limitations, you must choose the appropriate place to settle. Hence, the decision of where to locate your business is one of the most critical to contemplate. 4. Office location To optimize costs, the ideal is to rent an office. In Dubai, being a world business center, there is a lot of infrastructures designed for that purpose. Thus, finding the right space should not be a problem. 5. Business license A business trade license will allow you to carry out the commercial activities established in them. The approval of this license corresponds to the economic department and must be renewed from time to time. 6. Visa and bank account One of the most important requirements is the investor visa, which requires significant financing to qualify. Likewise, you must open a bank account, choosing the bank that offers the best benefits.

Dubai offers a wealth of options for any type of business, with landmarks such as: • Business Bay This part of Dubai is considered the typical central business district, making it one of the ideal locations. It has proven to be an appropriate place for the formation of new businesses, as well as for their expansion. • Al Quoz It is the most important industrial center, with 4 specific zones that include factories, warehouses, commercial units, and residential spaces. In addition, it is very close to the Jebel Ali Port and the Dubai International Airport, which multiplies the commercial options. • Sheikh Zayed Road The most iconic road of Dubai is in constant expansion. This makes it one of the best shopping centers in the world, due to its great infrastructure. This street, which runs along the coastline, is one of the centers of the economic flourishing of Dubai. • Al Karama It is located in the old region of Dubai and is one of the most populated areas of it. It has a large number of restaurants it holds, especially Asian ones. So if this is the focus of your business, you may choose to establish it here. • Deira In old Dubai, you can find Deira, which has taken on a touch of modernity. In this way, it contrasts with the skyscrapers of Dubai by revealing the ethnic motifs of the city. However, its growth continues to increase thanks to the ease it offers in the establishment of companies.

Depending on the area in which you want to establish your business in dubai, the costs may differ. However, four payments must be made. These are:

1. Registration fee

This payment only needs to be made once at the beginning of the company creation process. Likewise, it will depend on the legal structure of your company and the chosen free zone. Thus, the cost of this registration is between AED 9,000 and AED 10,000 and usually does not vary substantially.

2. License cost

The cost of the license is determined by its type, which in turn depends on the nature of the business. In this sense, the most required types of license are commercial, industrial, and service. Contrary to the first type of payment, this one must be made annually and the costs range from AED 10,000 to AED 50,000 per year.

3. Rent payment

There is a wide variety of desks in each of the free zones in Dubai. All of them can be adapted to your business needs as they include shared workspaces, a business center, among others. Typically, costs can range from AED 15,000 to AED 20,000.

4. Capital

The amount of shared capital can change significantly between each of the free zones. Thus, depending on the licenses of the business activity, from AED 1,000 to the amount of AED 1,000,000 may be required. In this order, the average capital required is about AED 50,000 in the free zone in Dubai.