Frequently Asked Questions
Check our FAQ below to find the answers you need.
Are you seeking information about business setup, or anything related to conducting business in the UAE? Here's the complete FAQ guide for you!
Free Zone Business Setup in UAE
Why should I choose Dubai for my business setup?
Dubai offers a strategic location, a robust economy, and a business-friendly environment, making it an ideal choice for entrepreneurs and investors. With its tax-free policies, world-class infrastructure, and access to global markets, Dubai has become a hub for diverse industries.
What is the minimum investment required to start a business setup in Dubai free zone?
The minimum investment required to start a business setup in a Dubai free zone can vary depending on the specific free zone and the type of business activity. The minimum investment could range from AED 10,000 to AED 50,000 (approximately USD 2,700 to USD 13,600).
However, it's essential to note that certain free zones may have specific requirements and varying cost structures, so it's advisable to discuss with the business setup consultants in Dubai to find out the cost to setup a business in Dubai.
Which legal form is recommended for registering a business in the UAE free zone?
The legal form recommended for registering a business in a UAE free zone is typically a Free Zone Limited Liability Company (FZ-LLC). This legal structure allows for 100% foreign ownership, offering investors full control over their business operations. Additionally, an FZ-LLC provides limited liability protection, separating the personal assets of the owner from the company's liabilities.
What are the major free zones in UAE?
Approximately, there are 50+ freezones in UAE. Some of the most well known include Fujairah Creative City Free Zone, Ajman Free Zone, Dubai Multi Commodities Centre Free Zone (DMCC), Dubai Media City, TECOM, Jebel Ali Free Zone (JAFZA), DIFC, and Ras Al Khaimah Economic Zone (RAKEZ).
Mainland Business Setup in UAE
What is Mainland company?
A mainland company refers to an onshore entity that is officially registered with the government body of the respective emirate. The trade license for such companies is issued by the Emirate's Department of Economic Development (DED). Notably, a key aspect of a mainland company is there are no limitations on its commercial operations.
Does a Mainland company require a rented office space?
Yes, a Mainland company in the UAE is typically required to have a physical office space as part of the company's registration process. If you require assistance in choosing office space for rent in Dubai, contact our team. We will assist you in finding the suitable office space for your business.
Is VAT applicable to the Mainland companies in the UAE?
Yes, 5% Value Added Tax (VAT) is applicable to Mainland companies in the UAE.
Can a Free Zone company in the UAE do business with Mainland entities?
Yes, a Free Zone company in the UAE can conduct business with Mainland entities, subject to certain conditions. To do business with Mainland companies, a Free Zone company must appoint a local distributor or agent, who is a Mainland entity, to sell its products or services within the UAE's mainland territory.
Can an expatriate open a business without a local sponsor or partner on the Abu Dhabi mainland?
Yes, foreign investors and expatriates can now establish businesses on the Mainland without the need for a local sponsor or partner.
Citizenship by Investment
How long does the citizenship application process typically take?
The processing time for Grenadian citizenship through the CBI program is usually relatively swift, often taking 3 to 4 months, depending on various factors.
What is the minimum investment required to qualify for Grenadian citizenship?
The minimum investment amount differs based on the chosen investment option. For the NTF option, the amount starts at $150,000 for a single applicant, while real estate investments generally start at $220,000.
What are the benefits of obtaining Turkish citizenship through the CBI program?
By obtaining Turkish citizenship, investors and their families gain visa-free or visa-on-arrival access to numerous countries, including Schengen countries. They can also enjoy living, working, and studying in Turkey, along with potential long-term investment opportunities.
Is it necessary to learn the Turkish language to qualify for citizenship?
No, there was no requirement to learn the Turkish language to obtain citizenship through the CBI program.
What is the Citizenship by Investment (CBI) program in St. Kitts and Nevis?
St. Kitts and Nevis were among the pioneers of CBI programs. They offer citizenship through financial contributions to the Sustainable Growth Fund or investment in approved real estate.
What are the investment options and minimum requirements for St. Kitts and Nevis citizenship?
The minimum contribution to the Sustainable Growth Fund was USD 150,000 for a single applicant. The minimum real estate investment required was USD 200,000.
What are the benefits of obtaining St. Kitts and Nevis citizenship through the CBI program?
Citizenship in St. Kitts and Nevis provides visa-free or visa-on-arrival access to numerous countries, as well as potential tax advantages and a beautiful Caribbean lifestyle.
How long does the application process take for St. Kitts and Nevis citizenship?
The processing time for St. Kitts and Nevis citizenship applications is generally efficient, taking around 2 to 4 months, depending on the chosen investment route and due diligence checks.
Do I need to have a registered business to open a business bank account?
Yes, most banks require you to have a registered and valid business license before you can open a business bank account. The specific documents and requirements may vary between banks and jurisdictions.
Do I need to visit Dubai in person to open a business bank account?
Some banks may require a physical visit to Dubai to open a business bank account, especially for larger businesses. However, certain banks may offer remote account opening services, allowing you to initiate the process from abroad.
Are there any government initiatives or incentives for business finance in Dubai?
Yes, the government of Dubai and the UAE offer various initiatives and incentives to support businesses, including low-interest loans, grants, and financial assistance programs in specific sectors and industries.
Can foreigners buy property in Dubai and avail of mortgage finance?
Yes, foreigners can buy property in Dubai and apply for mortgage finance. However, the eligibility criteria and loan terms may vary for expatriates compared to UAE nationals.
What is the maximum tenure for mortgage loans in Dubai?
The maximum tenure for mortgage loans in Dubai can vary between banks but is generally up to 25 years, depending on the borrower's age and the property's type.
Is trade finance available for both imports and exports in Dubai?
Yes, trade finance is available for both importers and exporters in Dubai. Import financing helps businesses pay for imported goods, while export financing provides working capital to businesses selling goods to foreign buyers.
UAE Tax Residence
What is UAE tax residence?
UAE tax residence refers to an individual's status of being considered a tax resident in the United Arab Emirates for income tax purposes. It determines whether an individual is subject to income tax in the UAE on their worldwide income.
How is tax residence determined in the UAE?
If an individual spends 183 days or more in the UAE in a tax year, they are considered a tax resident.
What are the benefits of being a UAE tax resident?
As a UAE tax resident, an individual can enjoy tax-free income on their worldwide earnings, including salary, business income, and investments
Do I need to file a tax return if I am a UAE tax resident?
Tax residents in the UAE were not required to file income tax returns, as there is no personal income tax. However, businesses and corporations may have different tax obligations.
Is there a tax identification number (TIN) in the UAE for tax residents?
Yes, the UAE issues a tax identification number (TIN) to individuals who are tax residents. This unique number is used for tax-related purposes, such as filing tax returns and conducting tax transactions.
When should I renew my trade license in Dubai?
Trade licenses in Dubai are typically valid for one year. It is advisable to initiate the renewal process at least 30 days before the expiration date to ensure a smooth and timely renewal.
Can I renew my trade license online in Dubai?
Yes, the Dubai government has introduced online services for trade license renewal. Many procedures can now be completed online, making the renewal process more convenient and efficient.
Do I need to hire a local accountant in Dubai for my business?
While it is not mandatory to hire a local accountant, having an experienced accountant familiar with UAE regulations can be beneficial.
Where can I get my documents attested in Dubai?
Document attestation can be done at the respective embassy or consulate of the country from which the document originates.
How do I initiate the company liquidation process in Dubai?
The company liquidation process in Dubai involves several steps, including board resolutions, asset valuation, settling liabilities, and canceling trade licenses. Discuss with our experts for more info!