1.What is the difference between the establishing of companies in the free zone and the mainland ?
There are several differences between mainland and the free zone. The main difference lie in nature of ownership extent of liability involvement of UAE nationals as partners or agents and nature of trade and economic benefits that can be reaped if you do not wish to partner with a uae national or you do not know any uae national to partner with, you can set up a business in a free zone. free zone offers 100% foreign ownership of the enterprise.
2.What is the minimum investment required to setup a business or company in Dubai ?
There is no limit to the investment required to setup a business in Dubai depending on the activities of your business ,investing partners the location of your business etc .you can invest as much or as little as you want to keep in mind the benefit of your employees and anyone involved in the business .
3.what is the process of setting up a business in Dubai ?
Licensing to carry out business activities in Dubai happens in three stages :
* Initial approval where an individual or company submits an application for approval of the activities intended for the said business .
* Ensuring all legal requirements are met by the investor . this includes authentication of the investors identification , educational qualifications and all financial matters involved in the establishment of the business .
* Verification of the business premises and issuance of the investor visa .
4. what is the difference between free zone and mainland business setup ?
Dubai and other emirates have allowed foreign investors to set up business in different areas of Dubai without the help of any local sponsor . these areas are called free zone ,however free zone entities can carry out their operations within the specified zone . this is a problem for companies whose target market is Dubai / UAE . you can appoint distributor , local agent or brokers for local markets setting up business in mainland requires a UAE national as a sponsor.
the business structure is different than that of setting up in the free zone . the sponsor must own 51% of the total shares however law allows the local sponsor to grant complete power of attorney to the foreign national and avoid any involvement in the operations of the business.
5. what are visa requirement for investors and employee while setting up a company in Dubai ?
Depending on the company type , there are different types of visa requirements in Dubai to live and work in Dubai , every foreign national need a residence visa and in order to employ staff in your organization the manager of the company must have a residence visa which will then allow the company to recruit a residence visa as these do not entitle the holder to do business in UAE . free zone incorporations allow for the issuance of residence visas depending on the size of the establishment.
6. How long does it take to start a company in Dubai ?
It can take as little as five days or can take up to six weeks to start your business in dubai depending on the company type and structure . company registration in the initial step of which it is a matter of gathering all documentation .
7. Do the documents needed for setting up a company need to be notarized or attested ?
All documents required for the issuance of residence visa and company registration need to be attested by the UAE embassy or consulate in the country of document origin furthermore , the same documents need to be attested by the ministry of foreign affairs, UAE in Dubai .
8.what benefits are there by setting up a company in Dubai ?
Dubai is the financial hub in middle east .thanks to its two ports , Dubai dominates the cargo and re_export markets for over 20 years , Dubai economy has shown substantial growth with investment pouring in from all corners of the globe . it is also home to two major airlines emirates and fly dubai with emirates being one of biggest airlines in the world . apart from this , dubai has a very large physical infrastructure spread all over the state with all kinds of services available almost every where .
9. what kind of legal framework is in Dubai for setting up a business ?
Dubai has an entirely different set of laws for foreign investors who are setting up their business in dubai paper work and legal requirement are minimal and procedures are fast tracked so that it is extremely easy to set up a company , licensing and registration moreover , Dubai has laws and rules for hiring employees and their benefits are protected.
10. Is Dubai an open trading hub?
Yes , more than three _ quarters of goods entering the emirate are duty _ free . free trade zones in dubai offer incentives to imports including exemptions from taxes and duties . the open border foreign trade policy has proved a major factor in allowing small business to expand .