Dubai is one of the giant metropolises in the Middle East. The city offers many commercial opportunities to foreign nationals and establishments. Each of such foreign establishments can materialize their business idea into different kinds of corporate structures in Dubai. Dubai has constantly expanded itself into a mecca for constant trade as well as business development. The UAE Government, despite being an Oil-rich country, plans to diversify Dubai's economy from oil production. Right now, Oil money in Dubai accounts for less than 1% of the city's total economy.
Rise of Corporate Establishments in Dubai
The constant efforts of the Emirate Government for diversification and economic growth of the Middle Eastern City has resulted in the issuance of 46000+ business licenses in the first half of the year 2022, which is significantly higher than the issued licenses from the previous year. This quarterly growth in Company Registrations in Dubai can be attributed to the following reasons:
Therefore Dubai can be termed as a MECCA for starting new business ventures. Setting up a Business in Dubai can with its bag of benefits to business owners and entrepreneurs, especially foreign nationals.
RoC in Dubai
In Dubai, the Regulatory Authority for Company Registration is the Registrar of Companies (RoC). Every business aspirant must file new company registration applications with the RoC. The companies also file their compliances with the RoC along with the services of Company Registration in Dubai.
Why is Business setup in Dubai beneficial?
This article details some of the benefits of company formation in Dubai. Therefore, read this article carefully to learn the benefits of setting up a Dubai Free Zone company.
Dubai offers Business-friendly Environment to Foreign Investors
The UAE Government has adopted technology for company incorporation procedures in the city. They have made the business registration process very amiable. An incorporation applicant can easily complete the requisite procedure in a matter of few days. In Dubai, company incorporation requires almost no paperwork. Furthermore, the online procedure is straightforward, even for the novice.
Dubai promises complete business ownership to the Foreign Establishments
The Corporate Authority of UAE introduced amendments to the CCL (Commercial Companies Law) Laws last year. This move allowed several foreign investors to have complete business ownership. Experts see it as a major step towards inviting Foreign Investors into the Gulf City. These investors conduct major businesses contributing to more than half of Dubai's economic activities.
Dubai offers more than 30 Free Zones in the Gulf Region
Dubai permits Foreign Investors to set up their companies in the Mainland Area. This area consists of Free Zones. Now, What are free zones? A Free Zone is a region where conducting Business allows its complete ownership to Foreign Nationals. Every profit earned can be claimed with provisions of repatriation as well as capital invested without any tax implications.
Dubai facilitates 30+ Free Zones for budding entrepreneurs and investors from all over the world. Here, the investors can further collaborate with the other players in a similar industrial sector.
Dubai promises a flexible Tax Regime and Benefits to its Businesses
The foremost benefit of registering a Business as a Company Incorporation in Dubai is complete tax exemption from the Authority. Any registered company need not pay taxes to the UAE authority. They levy no corporate or personal taxes in the Gulf City. However, the UAE Authority compels a few corporations to pay the VAT (GCC) tax at 5% on specific commercial activities. These regulations are applicable as per the Dubai Corporate Laws.
To know further about how to register Company in Dubai, connect with the Incorporation experts at Registrationwala. We are one of the foremost company incorporation service providers in the Gulf Region.