Dubai has grown into one of the world’s most rapidly developing business hotspots, luring entrepreneurs and investors from every corner of the globe, within a decade. Strategically located and combined with its beneficial taxation and supportive government policy, Dubai is the right place for foreigners who would like to set up their businesses. Company setup in Dubai is not only effective but also smooth for UK nationals, as well as people from rest of the world.
If you are a UK national looking to set up a business in Dubai, this article will guide you through the steps, requirements, and benefits of launching your company in this growing global business hub.
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Can a UK Citizen Establish a Company in Dubai?
Yes, UK citizens can establish a business in Dubai. The government of Dubai strongly supports foreign investments and provides various business structures specifically designed for non-UAE residents. With the proper legal framework and insight into the local market, starting a business in Dubai as a UK national is both feasible and highly beneficial.
Documents Required for a UK National to Establish Business in Dubai
As a non-resident, the documentation required to establish company setup in Dubai is the bare minimum. You will have to get along with the following:
- Copy of Passport: A crystal clear photocopy of your passport is mandatory.
- Passport size photograph: A passport size photograph of yours is required for the process.
These minimum requirements have made it easy for UK nationals to set up a business in Dubai with minimal documentation requirements.
Steps to Set Up a New Business in the UAE as a Foreigner
Setting up a foreign business in Dubai involves the following steps, which are important in ensuring that your business is well-registered and follows all the regulations of the UAE. When establishing a mainland company in Dubai or setting up a free zone company, the process may vary slightly, but it essentially follows this route:
Name Approval:
Get creative and pick a catchy name for your business. After that, register it with DED to ensure it aligns with UAE naming conventions. Undergo the process of naming your business and then seek its registration with DED (Department of Economic Development) to confirm it does not conflict with UAE naming conventions.
Drafting of Memorandum:
For the mainland company, a Memorandum of Association (MOA) is drafted to include ownership information and the structural details of the organization. The process is usually much easier for free zone companies.
Office Space Requirements:
- Mainland Setup: For the Mainland Company Setup in Dubai, an Office space is to be rented. We assist non-residents in locating an ideal space within our business center in the Conrad Hotel on Sheikh Zayed Road, Dubai that aligns with their business requirements.
- Free Zone Setup: Most free zones offer flexibility and do not mandate office space. You can check the list of free zones in Dubai.
To know more about the Freezone and Mainland business setup read our article on differences between Freezone and Mainland.
License Approval:
The relevant business license should be applied for, depending on the activities of your company, such as trading, professional, or industrial.
Establishment Card:
At the time of registration of your business, you will be given an establishment card that will enable your business to sponsor employees and apply for visas.
Visa and Emirates ID issuance:
Upon incorporation, you and other employees have to obtain UAE residency visas and Emirates IDs. These procedures involve medical tests and biometric scanning.
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Requirements of Presence for UK Nationals
Another important factor that UK nationals need to consider is whether their presence in Dubai is necessary for the completion of the company setup in Dubai. This would depend on the type of business structure:
Mainland Setup: UK nationals would have to be present in Dubai for the initial setup. Approximately two weeks would be the stay required for all documentation through our services, which includes preparation of Emirates ID and setting up of the business. It can be shortened to 5 working days with our VIP processing.
Free Zone Setup: In the case of a free zone, your presence in Dubai is not necessary for the business setup process. You would need to be present in Dubai only for visa processing, with the whole process taking 2-3 working days for VIP and 7-8 working days for standard processing, respectively.
Advantages of Setting Up Business in Dubai
Dubai has a host of reasons for UK entrepreneurs to set up a foreign business. Some of the key reasons for this are:
- Low Taxes: Dubai has zero personal income tax with no levies and low corporate tax.
- Ease of Doing Business: The government has paid great attention to streamlining the process of setting up businesses, and it’s pretty efficient for foreigners.
- Centralized Location: Dubai being centrally located enables it to emerge as an ideal gateway between Europe, Asia, and Africa. It provides easy access to every global emerging market.
- Competitive Setup Costs: The cost involved in setting up business in Dubai, especially within its free zones, is comparatively lower than that of its equivalents across other international business hubs.
- 100% Foreign Ownership: The recent regulatory updates in the country now permit full foreign ownership of companies or enterprises across the majority of industries, within mainland Dubai as well as its free zones.
Full End-to-End Support by Company Setup Consultants
We recognize that starting a business in a new country can feel overwhelming. That’s why we provide comprehensive end-to-end support for every aspect of the process. Our goal is to make the process as smooth and stress-free as possible for you. We take care of you right from the time you arrive in Dubai through each step, which includes:
- Verification Process: We assist you with all verification processes to ensure that you comply with the necessary legal formalities.
- Bank Account Creation: We will assist in opening a corporate bank account, which is a key factor in doing business in Dubai.
- Ejari Registration: If you opt for a mainland setup, we can guide you with Ejari registration as stated by Dubai law.
- Visa Assistance: We will cover all the procedures for getting your visa.
Be it setting up your business on the mainland or in one of Dubai’s many free zones, we do commit to making your venture a sure success.
Conclusion
Opening a business in Dubai for UK nationals is very lucrative and easy. The strategic location of the city, along with every tax advantage and smoothness in business setup process, makes it ideal for an entrepreneur. We make it easy with our end-to-end support, so you can focus on what matters: building your business in one of the most dynamic cities in the world.
