Yes, a non-UAE national can actually start a business in Dubai too, and quite a number do so. The foreign population is well over 80% foreign, with most of these having their own businesses established here. Dubai aggressively welcomes new business owners and investors from all over the world. The city is home to several business formation experts and installation agents, specially created to assist potential investors in setting up their first shop or venture.
For easy incorporation process in Dubai, all one has to do is follow the prescribed set of rules and regulations provided by the government. Foreigners are also offered certain privileges not available to citizens of the emirate. These include exemption on import and export duties, exemption on taxes on profits and income, freehold property, exemption on inheritance and property tax, the right to carry out business across international borders, and so on.
By doing business in Dubai according to these rules and regulations, the chances of getting a good job increases. This is because the government authorities prefer to have foreigners coming to work in the country, as they believe it increases the rate of growth of the economy. In order to get an application approved by the government authorities, all necessary documents have to be supplied such as passport, visa, contact person, labor permit, registration card, rental agreement, bank account statements, and the like. There are some things that the tenant has to ensure in order to avoid being denied a visa and permits to do business in Dubai. All such documents can be obtained from the commercial rental office in Dubai.
The first requirement is that the foreigner needs to get hold of a visa before being able to enter the country. A valid passport must be presented along with a letter of invitation from the UAE government granting permission to enter the emirate. If you are eligible for a visa, you will not need to obtain a separate visa for a separate stay in Dubai.
After the above-mentioned requirements have been fulfilled, the next step is to find out the free zones in Dubai. All foreign businessmen are entitled to freehold property in the seven emirates that comprise Dubai. However, this is only available for those entrepreneurs who own ten per cent or more of the shares in the company that plans to start a business in Dubai. In addition, foreign entrepreneurs are also allowed to open a branch office in the free zones if they so choose.
The third requirement is to pay the appropriate income tax to the government authorities in Dubai. This is considered as a very important requirement since it would help the government officials track the taxes paid by the foreigners. The fifth and last requirement is that the entrepreneur must submit all necessary documents such as his or her passport along with the relevant fees on time. This is the first step to open an entity in Dubai. However, it is important to note that only individuals who hold a valid passport are eligible to apply for freehold property in the free zones.
After the completion of the requirements needed for offshore entrepreneurship in Dubai, the next step is to hire an accountant or lawyer to help you with the process of incorporating your business in Dubai. Many foreigners consider incorporating their businesses in Dubai before going to work in the city due to the absence of language issues. However, there are many businessmen who work in Dubai for just a few months and end up being permanent residents of the emirate. In this case, it would be easier to incorporate your business since you would already have all the legal documents in hand. However, there are still several other reasons why you may want to incorporate your business in Dubai despite its complexities.
If you wish to know how to start a business in Dubai despite the language issue, the best option for you is to contact the services of corporate formation experts. These professionals will help you establish a beneficial business partnership between you and the UAE government. Once your partnership is established, you will receive financial assistance from the government to purchase office spaces in Dubai. You will also benefit from receiving tax breaks since the majority of the foreign corporations have set up operations in Dubai.