UAE provides a very competitive and nurturing business environment to all the companies that come to the country. The government of UAE also heavily supports new businesses, entrepreneurs and startups with tax benefits and other facilities that makes setting up shop in UAE lucrative. Moreover, they provide benefits that encourage investors to come invest in the country.
Dubai has a history of being a port for trading business, having trade links with Egypt and the Indian subcontinent. It is still the epicenter of trading, connecting Asia, Africa and several parts of Europe.
It is also a hotspot for imports and exports, which is crucial for a trading business setup in Dubai, as this is a positive sign of accessibility and distribution. Another aspect that confirms accessibility and distribution is Dubai’s impeccable infrastructure amongst other top-notch facilities. Being a hotspot for trade due to its centralized location also attracts investors, who invest heavily on trading business setup in UAE.
Furthermore, according to the Dubai’s Department of Economic Development, there is a growth of trade business setup in Dubai. The major reason for this growth is the worthwhile trade benefits facilitated to the trade businesses.
Trading Business includes these benefits:
- Tax advantages
- Less duty on import and export
- No exchange control
- Limited trade offer to mention a few
Dubai also has a very open trade relations policy. This encourages trading business setup in UAE from all over the world. A trader in this region, with a trade license, is eligible to open trade relation that does not discriminate between the imports and exports of a foreign jurisdiction. Traders can freely buy and sell from separate economies without any addition of government quota, charges or subsidies.
When it comes to trading, a business setup in Dubai means international trading partners and double taxation avoidance agreements that limit import and export liabilities.
We have established that starting a trading business in Dubai is an extremely good idea, the question now would be how to setup business in Dubai.
When it comes to trading business setup in Dubai, the business must first decide on the nature of trade, which will also help choose which zone in Dubai the company should set up in. This is because each zone has unique benefits.
Then it needs to go through the following process:
- Come up with a name and get it approved
- Partner with a reliable UAE local through corporate sponsorship agreement where the power of attorney will have complete control over the business
- Acquire all approvals from Department of Economic Development
- Draft the Memorandum of Association with the company shareholders
- Rent a warehouse, commercial space or office and get the tenancy contract, along with other paperwork requested by DED, attested by the Ejari.
- Submit the paperwork and get the trade license.
Trading business setup in UAE is a time sensitive process that needs to be submitted in the right order within a set time-frame in order to avoid penalties or even banning. While this can seem very overwhelming and costly, this can be easily handled by partnering with expert business setup companies, like Company Setup Dubai.
The right company will also have business knowledge that can help with marketing strategy as well as local and government networking, an expertise that Company Setup Dubai already holds. So, it is only a matter of getting in touch and starting the process of business setup in Dubai.
For further information and assistance on how to register your trading business in the UAE, speak with our experienced consultants. Book your FREE consultation today at +971 558654072, +97143827780 or Drop us a line on info@companysetup.ae
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