Dubai is considered one of the world’s leading cities in industry and investment, and due to the ease of procedures and laws, investors want to establish a company in Dubai to ensure profit and high returns in the long term and benefit from the ease of procedures and laws. When establishing a company in Dubai for foreigners, foreign investors must know the support, facilities and services, what are the steps to open a commercial register in Dubai for foreigners, what are the advantages available to them, the most important sectors that support establishing a company in Dubai for foreigners, and what are the best services for establishing companies in Dubai, all this and more we will learn about in this article.
Determine the type of business activity
When establishing a company in Dubai for foreigners, it is necessary to determine the type of business activity that the company will practice, as this activity that the company will practice clarifies some basic steps such as the legal form of work and also the type of commercial license, and economic activities are very diverse such as: commercial activity, service activity, or industrial activity.
Choose a name for the business activity
The trade name must be chosen carefully to express the economic activity of the company, so that it is a unique name that has not been used by any other business activity before, and it must be compatible with the state’s systems and laws and registered with the competent authority in the Department of Economic Development in Dubai, and Tdabeer Company can help you choose a distinctive and unique name.
How to open a commercial register in Dubai step by step
Before opening a company in Dubai for foreigners, the investor must obtain a commercial register for the company, which has many advantages, including the ability to fully own the company without the need for a sponsor, enjoy greater investment opportunities, and obtain residency for you and your family. In this paragraph, we will explain the steps to open a commercial register to establish a company in Dubai for foreigners:
1- Log in to the official website “Dubai Economic Electronic Services”.
2- Log in to the commercial register opening service or fill out the commercial register opening application.
3- Log in using your email and password for your account on the platform.
4- Click on the registration button.
5- Add details about your company in terms of location and other required details.
6- Add all founding parties of the company and their full data on the platform.
7- Choose the type of license you want to obtain, whether a commercial license, a merchant license, or an instant license.
8- Add data for the licensing parties such as: managers and service agents.
9- Add the ultimate beneficiary of this project.
10- Sign the required documents for the company and send them.
11- Pay the commercial registration fees through the available payment methods.
12- After completing the registration and payment procedures, you will be given the commercial registration and related documents.
How to get a trade license for foreigners
A trade license is a document issued for each commercial activity to operate legally and to ensure that companies comply with all regulations and laws related to the public interest, health and safety, and is issued by municipal institutions or local government.
Types of trade licenses in Dubai: General trade license, professional license, industrial license, tourism license, and instant license and there are other types.
Cost of issuing a trade license in Dubai: The cost of each license differs from the rest of the licenses You can use a management company that helps you issue a trade license quickly and in a short time.
How to open a bank account
Opening a bank account in Dubai is very simple and uncomplicated, but there are some differences in the documents and procedures required depending on the bank you will deal with.
Before you take the step of opening a bank account, you should pay attention to the following:
1- Choose the bank you will deal with carefully. This is done by: The bank’s reputation and fame or asking a friend who has previously dealt with the bank.
2-Complete the required documents and attachments and send them.
3- Paying the fees for opening a new bank account, if any
4- Depositing a balance for the company in the bank as needed
Companies can benefit from several types of bank accounts in Dubai, such as general corporate accounts, trading accounts, and fixed deposit accounts, and each account has its own use, and you can use a company such as Tdabeer, which is a leading company in helping emerging or large companies, and it can work to open a bank account for you.
Are there taxes when establishing a company in Dubai?
Taxes are imposed in the UAE by the Federal Tax Authority, and there are several types, and individuals, citizens and residents in the UAE are subject to them; with the aim of providing the best services with the highest quality and efficiency.
1- Income Tax
Income tax is a lump sum collected directly by the government from the income generated by companies or private institutions, and is imposed mandatorily based on a specific and specific percentage, and is determined by the Federal Tax Authority under a special law that specifies it, and its percentage is 9%.
The income tax aims to achieve the strategic objectives of the United Arab Emirates, increase work on the development of the country, and enhance its position to be a leading global center in the field of business and investment, in addition to achieving international standards of tax transparency.
2- Value Added Tax:
This tax is imposed on products, goods and services provided in the UAE, and its rate is 5%.
3- Selective Tax
Imposed in the UAE on some goods and products for health and environmental purposes related to the nature of the products and goods, and at varying rates related to the nature of the product.
4- Tourism Fees Tax
This is a tax imposed on restaurants, cafes, hotels and tourist resorts at different rates as follows:
10% service fee.
10% municipal fees.
10% on the room price.
6% tourism fees.
City tax from 6% to 10%.
Laws for establishing a company in Dubai for foreigners
The United Arab Emirates issued Federal Law No. (19) of 2018, which stipulates the regulation of the foreign direct investment process in the country with the aim of enhancing the investment environment and attracting foreign investors to the country, in addition to increasing and diversifying production and other important goals to enhance the various business sectors in the country.
The provisions of the Foreign Direct Investment Law apply to all licensed and authorized foreign investment projects, according to investment requirements such as the minimum capital and that the investment be in stimulating areas such as research and development.
1- Foreign economic activities permitted for investment, which include 122 economic activities, are: Agriculture, industry and services sectors.
2- Activities not permitted for foreign investment in the United Arab Emirates .The laws and regulations related to foreign investment exclude some sectors and activities as follows:
- Exploration, drilling and production of petroleum materials.
- Security and military sectors.
- Banking and financing activities, payment systems and cash dealing.
- Hajj and Umrah services, labor and employment.
Economic sectors available for foreign investment in Dubai
There are many economic sectors available for foreign investment in Dubai, the most important of which are:
- Real estate investment
- Financial services and insurance.
- Mining and quarrying.
- Wholesale and retail trade.
The most important investing countries in the United Arab Emirates are
- Switzerland
- India
- Austria
- Japan
- Kingdom of Saudi Arabia
- Netherlands
- Kuwait
Services for establishing a company in Dubai for foreigners
It is difficult for foreigners to establish a company in Dubai, but with Tdabeer Company, we are one of the largest companies that provide investment services in Dubai and we provide all means of support to our clients:
We have years of experience in establishing companies in Dubai and free zones.
We have a team trained in legal procedures and transactions with the competent authorities in Dubai.
We specialize in obtaining and renewing all commercial licenses for various activities.
We are distinguished by quality and completing all procedures in the fastest time and at the lowest costs.
Providing full support and solving problems around the clock, seven days a week.
If you are looking for a reliable entity to carry out all the steps of establishing your company in Dubai, Tdabeer Company is ready to provide its services to make things easier for you. We are happy to contact us and add you to our list of distinguished clients.
