Setting Up Low-Cost Businesses in The UAE
The United Arab Emirates offers a one-of-a-kind combination of advantages that enable businesses of all sizes and scopes to flourish. Its strategic location allows entrepreneurs to expand their businesses across international borders while benefiting from a low-cost business setup in the UAE. Furthermore, because of the high living standards, it is an excellent local market for businesses and investors.
Who can start a low-cost business in the UAE?
One of the greatest things about owning a business in the UAE is that you can start a business irrespective of whether you are a foreigner or a citizen of the country. As long as you choose a business that is compliant with local rules and regulations, you will be able to own a business in the UAE.
Why is UAE the perfect place to start a low-cost business?
Many small business owners often prefer UAE as their first choice to launch their low-cost business because it has low tax rates, a competitive economy, free trade agreements, low import duties, and a strategic location. UAE also allows ex-pats who have retired to extend their residency visa after a new law in 2019.
The new visa laws in the UAE for investors and talents also allow 100 percent foreign ownership of companies in the UAE. In this new visa system, business owners, professionals, and property owners can apply for a long-term ten years visa.
What is the cost of setting up a business in UAE for foreigners?
Even though foreigners are allowed to set up a business in the UAE, the process of setting up your business is long and sometimes tiresome. From applying for visas for your employees and yourself to applying for a business license and working with a business formation company, you will have to do it all.
The cost of setting up your business in the UAE might vary depending on various factors, where in the country you are setting your business, the type of business you have, etc.
It mostly costs around AED 20,000 to AED 30,000 to set up a low-cost business.
How can a business formation company like Consultycs help?
Our company, Consultycs, is a consulting and advisory firm that works with investors, entrepreneurs, business owners, and corporations with the goal of adding value to their businesses. Our clients want to work with us because we are able to give them access to customized solutions to their problems. Developing long-term, mutually beneficial relationships between customers is another stated goal of our company.
