Can Foreigners Own A Business In The UAE? Know The Knows And How’s
Under the new company law changes that came into effect on 1st June 2021, now foreigners can own a business in the UAE without a shareholder or an agent. Foreign investors and businessman finds Dubai to be very welcoming when it comes to business investments.
Foreign business personnel today find it easier than ever to do business in the UAE with the ability to retain 100% ownership, except for in special cases.
Who can Start a Business in the UAE?
Almost anyone can set up a business in the UAE and can enjoy the government incentives offered for starting business. Although you can start a business in any zone in UAE, there are of course some popular business areas that are common among foreign investors. These areas are common because they offer 100% ownership rights, and 0% corporation and personal tax.
The minimum investment required to start your business in UAE?
You need to invest at least a minimum of AED 11,900 for a Free Zone business license in the UAE, which will provide you Zero Visa Quota but no office space. You will get a one-year trade license for the business operations and market presence. You can renew your trade license or upgrade your business package as and when you want. But the minimum investment amount changes to AED 17,900 if a business is trying to obtain a trade license that includes office space, visa quota, etc.
How does finding an office space in the UAE work?
There are plenty of available office spaces in the UAE, but if you go for the traditional office spaces, it is going to cost you a fortune. For a new foreign start-up in the UAE, co-working spaces are very common, they are not flexible but also offer useful business functions like printing, receptionists, etc. You don’t have to hire the people working on these roles yourself.
Know more: Business Laws and Regulations in Dubai, UAE
How do Consultycs help?
Setting up a business in a foreign country is never easy no matter how many other businesses have done it in the past. Whether you are trying to start a business or looking for business growth, Consultycs brings you closer to your goals.
