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Press release
Published May 24, 2023
For determined individuals ready to start a new business chapter, form partnerships, immerse themselves in the vibrant culture and make their mark on the UAE business scene, this guide is for you!
The UAE has become a destination of choice for international business and investment. Its strategic location, strong economy, favorable business environment and attractive incentives make it ideal for investors looking to expand their business globally.
This guide will look specifically at the advantages of doing business in the UAE British investors And provides a step-by-step process for opening a new business or branch in the country.
Business Setup in the UAE – An Overview
Business Setup in the UAE Refers to the process of establishing a new company or branch in the country. The UAE offers businesses a variety of options and legal structures to suit different needs and preferences. The most common forms of business settings include:
Continental Company:
- Allowed to do business in the local UAE market.
- A local UAE partner or sponsor is required who holds a majority stake in the company.
- Provides access to the wider UAE market and government contracts.
Free Zone Company:
- Operate within specific free zones designated for specific industries or activities.
- 100% foreign ownership is allowed, no local partners required.
- Offer various incentives such as tax exemptions, duty concessions and simplified regulations.
- Facilitate the ease of doing business with streamlined procedures.
Offshore Company:
- Formation in offshore jurisdictions such as Jebel Ali Free Zone Offshore Company
- Mainly used for holding assets, international trade or tax planning.
- Offers full foreign ownership and tax benefits.
Benefits of doing business in the UAE:
Strategic location and connectivity
The UAE is the gateway to the Middle East, Africa and Asia, offering excellent access to emerging markets. World-class infrastructure, a modern transport network and extensive air connectivity allow it to easily connect to global markets.
business friendly environment
The UAE has an excellent business environment with minimal bureaucracy and red tape. The country’s strong legal framework and intellectual property protection provide a safe environment for businesses to operate.
Additionally, most Emirates do not levy corporate and personal income taxes, which provides a significant financial advantage
Prosperous Economy and Market Opportunities
The UAE has a diversified and fast-growing economy driven by industries such as finance, real estate, tourism, manufacturing and technology.
Additionally, the UAE’s large consumer base, high purchasing power, and growing middle-class population present lucrative market opportunities.
Supportive government policies and incentives
The UAE government offers a range of incentives to attract foreign investment, including tax exemptions, duty reductions and utility subsidies.
As mentioned earlier, free zones across the country offer 100% foreign ownership, full repatriation of profits, and simplified regulation for specific industries.
The UAE’s strategic vision and initiatives, such as UAE Centennial 2071, promote long-term sustainability and economic diversification.
Process for opening a new company or branch in the UAE:
- Determine business structure
Depending on your business goals and operational requirements, choose to form a new company or open a branch. Familiarize yourself with the legal forms available, such as a limited liability company (LLC), free zone corporation or branch.
- Research and choose an emirate
Conduct market research to determine the best Emirates for your business event. Consider factors such as industry clusters, target markets, infrastructure and business regulations.
- Work with local sponsors
In most cases, non-GCC nationals will need a local sponsor or UAE partner to set up a mainland LLC. Work with a reputable local sponsor who can assist with legal formalities and provide guidance on local business practices.
- Obtain necessary licenses and approvals
Learn about licensing requirements specific to your business activity and Emirates. Liaise with relevant authorities such as the Ministry of Economic Development or the Free Zone Authority to obtain the necessary permits and approvals.
- Registering a company and leasing office space
Reserve your company name and register your company with the relevant authorities. Secure office space that complies with legal requirements and suits your operational needs.
- Hiring staff and managing visas
Recruit skilled employees and ensure compliance with UAE labor laws. Facilitating visa and work permit applications for expatriate employees through the Ministry of Human Resources and Emiratisation.
- Establish banking and financial relationships
Open a business bank account with a reputable UAE bank to facilitate financial transactions. Establish relationships with local service providers for accounting, legal and other professional services.
Business Link – Your Ideal Business Setup Partner
Moving to the UAE from the UK to start a business presents exciting opportunities for growth and expansion. The UAE’s favorable business environment, strategic location, prosperous economy and supportive government policies make it an attractive destination for entrepreneurs and companies looking to establish operations in the Middle East and beyond.
However, setting up a business in the UAE can be daunting. This is where Business Link comes in as your ideal business setup partner.
By partnering with Business Link, you can leverage our network, contacts and industry insights to build a solid foundation for your business in the UAE. Our commitment to professionalism, efficiency and client satisfaction ensures that you receive personalized attention and support tailored to your specific needs.
With our expertise and guidance, you can confidently navigate the intricacies of the UAE’s business environment, allowing you to focus on what really matters – growing and succeeding in your new business endeavors.
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