Dubai is one of the emirates of the United Arab Emirates (UAE), considered the largest commercial and financial center of the country. Its territory hosts various free economic zones that offer businessmen privileges for developing specific business directions. We consulted with experts from an international legal company and learned about the types of companies that can be opened in Dubai.
Types of Companies That Can Be Registered in Dubai
The UAE offers entrepreneurs the opportunity to open various types of companies depending on their territorial location. Let’s explore the types of companies that can be opened in Dubai.
Local
Such companies are registered anywhere except free economic zones and can operate within the country or abroad. Features of local companies:
- corporate tax of 9%;
- possibility for a foreign entrepreneur to fully own the company;
- requirement of a physical office.
The form of such companies can vary: General Partnership, Limited Partnership, Limited Liability Company.
Free Economic Zones
Dubai has numerous free economic zones, each with its own rules and business directions. Let’s look at a few:
- Dubai Airport Free Zone. This zone focuses on logistics, trade, industry, and manufacturing. Licenses for these activities can be obtained without issues.
- Dubai Silicon Oasis. This zone develops trade, manufacturing, engineering, and high technologies.
- Dubai World Trade Centre. This zone actively supports trade and service-oriented businesses.
What Business Directions Can Be Opened in Dubai?
The following business directions are actively developing in Dubai:
- trade – a reduced VAT rate of 5% applies to this sector;
- food industry, for example, catering is highly popular;
- IT business, actively advancing digital technologies;
- tourism – the state supports this business as it generates significant profits;
- finance, including cryptocurrency.
Advantages of Companies in Dubai
Today, entrepreneurs choose Dubai to open companies due to the advantages of this location. Let’s review them:
- strategic geographical location, providing access to various global markets;
- presence of free economic zones with lower taxation (0% corporate tax);
- minimal VAT rate of 5%;
- double taxation avoidance agreements with many countries;
- advanced technologies and diverse innovations;
- possibility to open an account in a local bank;
- company owners can obtain a resident visa;
- information about beneficiaries is confidential, accessible only to registration agents;
- fast company registration within three weeks;
- possibility of remote registration.
If you wish to learn more about what companies can be opened in Dubai and how to do it, seek consultation from specialists. For example, Maira Consult can assist you.