The Secrets of Company Formation in Dubai Unveiled
An overview of your options. An answer to all your questions
Message from: The Freemont Oneworld Group
Services, active in Dubai since 2006
If you’re looking for a tax-free business formation in a free zone of Dubai that fits your business perfectly and gives you the freedom you’ve been looking for…
…Then you’ve come to the right spot.
In this article, we will give you an insight in the process of forming your own company in Dubai. And we present an overview of the best options available to you.
In any case…
Dubai Company Formation Allows You The Following:
- Embark on a ZERO income tax journey with no corporate tax, no income tax, no dividend tax.
- Control 100% of the shares of your own UAE company and send your profits anywhere in the world without restrictions.
- Run your business the way you want; answer to no-one.
- Setup your company in a free zone that perfectly fits your needs.
- Get a residence visa that allows you to live in Dubai/UAE.
- Tie your business image to the most important success story of the 21st century.
- Break free from the crumbling old world and leave your peers and critics in a dust cloud when you speed ahead to a prosperous future.
As you can see, you can get a striking edge. But a business like yours, deserves the best. Reap the rewards of your new and prosperous business set-up in Dubai!
2020 Corona Virus Update: Freemont is 100% operational and many free zones allow remote incorporation. Contact us for the details and special offers.
The Real Rewards Of Company Formation In Dubai
One fine day, a Dutch couple walked into the office. They were high achievers. Very ambitious. Entrepreneurial. They came to Dubai to get away from the rules. To get away from excessive taxation. They were looking for more freedom.
To run a business the way they wanted, without the envy, control and people getting into your pockets like is happening in most of the Western world nowadays.
They had friends in Dubai and they were already convinced that this is the place they want to go. In an act of impulse they had already sold their house and needed to move soon. It was their first week and they were excited and determined. In this one week they would set everything in motion.
The husband had a small consultancy business. He also developed software with a small team. Since they were moving to Dubai they needed visas. And they wanted to rent a small office in Dubai.
The husband did the talking. She wrote everything down in a little notebook. We explained in detail what they had to do. What business structure they could use for the different business activities. How to get their visas. And where to look for their apartments. And how to best sort their tax situation at home.
At then end of the week they visited again. They had talked to a lot of different people. Not everything was as straightforward as they had hoped. They had encountered a lot of different options and heard about a lot of different free zones.
At the same time, they were getting the feel of Dubai and the opportunities it offered. The ease of doing business. They liked it.
We proceeded with incorporated a RAK offshore company with a registered office in Dubai for the consulting business. For the software developing company, we advised DMCC Free Zone. This way, he could rent an office space in Dubai and they could get their visas. We incorporated that structure also and the next time they visited they came into the country with their new residence permits.
In addition we advised about setting up a handbag importing and exporting business for the wife using a local LLC.
However, the best part for us was a few months later, when they visited the last time.Their mood had changed. They looked relax. Everything was sorted. Business was picking up.
They started thinking about things they could do. The husband mentioned moving to Spain for the summer. “But we must not stay for longer than six months,” the wife added quickly…
When they first came in, they seemed desperate. Now, they were talking from a position of self-determination and power.
This was an inspiring sight.
They were truly free…
Is Forming A Free Zone Company In Dubai For You?
I hope that story inspired you. The United Arab Emirates offers you a lot of possibilities. However, you might not be 100% clear what the best solution for your business is? The options are overwhelming!
Therefore, the next piece of this article gives you a bit more insight into you possibilities…
It will be as if you walk into our office on the 18th floor with a stunning view of new Dubai. It will be as if you are in a sales meeting.
Which Business Setup To Choose?
Most foreign investors in Dubai opt for setting up a Free Zone company. All free zones have a couple of similar characteristics. 100% foreign ownership possible. You don’t have to pay income taxes the UAE.
But there is a lot of difference in price and what you can do with the company. In order to understand what free zone to choose, there are three important questions we normally ask at one point:
- Will you do business inside the UAE?
- What is the business activity you do?
- What kind of UAE “substance” do you need for your business and yourself?
Why are these questions important?
Question 1: Will you do business inside the UAE?You might have clients outside of the UAE but don’t do business inside the UAE. You want to use Dubai for its business image and banking services. In this case you could use an offshore company.
Most of our clients use offshore companies. They are cheaper than the free zone companies and easy to set up. So if this set up is possible for your business you really do not have to look any further. And we recommend the RAK Offshore company. There are other options, but this is the best.
But what if you want to want to do business inside the UAE or you simply need more substance? Then, the other two questions become important:
Question 2: What is the activity you will be doing?
The logic behind free zones is to provide a business hub for similar companies. That’s why there is a media free zone, a creative free zone and a commodities trading free zone. As a result, this means that not all activities are suitable or can even be accepted by specific free zones.
Based on your activity, we advice one of the many available free zones.
Question 3: What kind of UAE “presence” do you need for you and your business?
Not all free zones offer the possibility to rent an office space or a warehouse. Or perhaps these are available, but not in a desirable location.
And do you wish to get a visa or hire staff? Then there are a lot of differences in requirements.
We have dealt with a lot of free zones in the past and know exactly which one matched your business setup.
Free Zones Outside of Dubai
A lot of entrepreneurs coming to Dubai do international trading, consultancy or design and development activities. They have small companies. Usually, just them and a few employees.
They need a visa, but don’t need an office space or warehouse.
For these companies we usually recommend free zone companies outside of Dubai. The reason for that is that the are often cheaper, much easier and quicker to setup and easier to manage. At the same time, you’re able to get a visa and live in Dubai and use banks in other financial services in Dubai.
Also in case of manufacturing or trading companies a free zone just outside of Dubai and be a great option.
Example of free zones are Umm Al Quwain Free Trade Zone, Fujairah Creative City Free Zone, Ajman Free Zone.
Free Zones in Dubai
If you want to have a real presence in Dubai, there are a lot of free zones to choose from. Besides a number of very specific free zones for things like media and computer technology, there are also free zones that allow a wide variety of activities.
If you want to rent an office in Dubai and need more “substance,” the Dubai Multi Commodities Centre (DMCC) is for example a good choice.
Best Business Setup In Dubai?
There are a lot of different free zones in the UAE. Making a choice can be overwhelming.
But with a few questions it is easy to identify which free zone is the best option for you. Contact us by filling in the form below if you want to talk to someone about setting up your company.
We can identify which free zone is best for you, and inform you on the process and costs.
What Can You Get Right Away?
Here is what you can get with one click of your mouse:A fully detailed consultation from an expert in setting up companies in Dubai.
You will discover which Dubai business setup is best for you, and which Dubai bank suits your business desires most.
… No cost!
Why do we give you this information for free?
Because our business is setting up companies.
We pride ourselves on giving solid advice to our clients. Because we know that once we provide you with all the information you need for setting up your business, there is a big chance you will ask us to do it for you.
If you are serious about setting up your business in Dubai, all you have to do is fill in the form below. You’ll smoothly shift into high gear on the highway to success, while you can lean back and enjoy the sunset…
We cannot make it easier. Can we?
Who are we?
The Freemont Oneworld Group
Freemont Oneworld Group is the result of a 2019 merger between Freemont Group, operating in Dubai since 2006, and Oneworld Mideast, a subsidiary of the prestigious corporate service provider Oneworld, active from Cyprus for over 30 years.
Our office is located in the centre of Dubai (Bayswater Tower, Level 18, Office 10, Business Bay), and you can drop by any time you like.
Our most important activity is setting up legal entities for our clients. We can advice you as to what business set up best suits your need. We will assist you from start to end and make sure the registration of your company will go smoothly, and will guard you from excess paperwork.
Why Should You Use Us?
Good question. Let us give you some facts:
We have set up more than 6.000 companies in jurisdictions all around the world. We have clients on every continent. Most are from Europe. We helped 100s of international entrepreneurs set up their business here in the UAE from our strategically located office in the pumping heart of new Dubai.
Our Network of reliable partners:
Freemont Oneworld Group is on the forefront in promoting economic and personal liberty and we sponsor and support organizations and conferences that do the same. Also, we write well received articles for various organizations in the field of tax planning and corporate service providing.
Our directors and professional staff are members and affiliates of international professional bodies including:
- The Institute of Chartered Accountants in England and Wales (ICAEW)
- The Association of Chartered Certified Accountants (ACCA)
- The International Tax Planning Association (ITPA)
- The UK Law Inns
- The Society of Trust and Estate Practitioners (STEP)
- The Institute of Internal Auditors (IIA)
- Dubai Department of Economic Development
- Jebel Ali Free Zone Authority
- RAK Investment Authority
- UAE Ministry of Finance
What Other Premium Services Can We Offer?
Gently scan the services that we can provide you with:
- Bank introductions with local banks in Dubai AND international banks (from Switzerland to Mauritius).
- Virtual office options. Have a Dubai telephone, mailing address, fax.
- Nominee directors or shareholders. Obtain complete confidentiality with our names on the company papers.
- Providing local management and control and book keeping.
- Visa services.
- Free Zone Companies and offshore companies.
- Attestations. Legalizations.
- International business incorporations. International structuring.
- Identifying the exact free zone for your business.
- Setting up your business from A-Z while you lay back and relax.
- And much, much more.
Frequently Asked Questions
There really are no benchmarks. The price depends on the activity, the free zone, the type of license, office and visa requirements.
Please fill in the form below, and we can provide you with an indication of the price.
Basic documents needed are: passport copy, current proof of address (utility bill), filled in company forms (provided by Freemont), a description of the business.
Depending on the activity, additional requirements could be needed.
To obtain a visa for the UAE, you need to be sponsored. Luckily, a free zone company you own can act as a sponsor.
Free zone companies are allocated a number of visas based on the amount of square meters in office space they rent.
In case you do not need an office, certain free zones offer a flexi-desk/office at a fraction of the cost. This allows for max three visas.
As a businessman, you can sponsor your family also.
This depends on the free zone. Some allocate for three years, others for two.
If you plan on living in Dubai, it is better to look for a place where they offer for three years, to prevent the discomfort of having to redo the process.
It is difficult to provide an exact time-frame, since it highly depends on the free zone and the services needed.
In general, there are a number of steps in the process: the collection of documents, registration with the free zone, registration with the central authorities (if needed), the renting of the office, the opening of the bank account, and the issuing of visas.
For some of these steps your presence might be needed in Dubai, others not. Lightweight structures can be incorporated in a matter of days, others take well over a month.
Starting a business in Dubai doesn't happen overnight. Be patient, and be rewarded!
In general, free zone companies are not allowed to do business outside of the free zone. In practice, there are a number of "flexible" areas, for example with consultancy activities.
For selling goods and providing services to the general UAE market however, you'd need local LCC (mainland company).
Businesses in Dubai are issued a trade license. Generally, they are allowed to perform the activities they are licensed for.
A wide variety of activities are available to choose from. Certain activities, such as investment or health care services might require additional approvals of the UAE government.
Yes. Free zone companies allow you access the banking systems in the UAE (something becoming difficult with offshore companies).
But keep in mind, if you want to have a local bank account, you will have to visit Dubai for a meeting with the bank (which can be done here in the office, and in only one morning).
Luckily, in addition to banks there are Electronic Money Institutions (EMIs), financial service providers that also offer bank account details. These can be opened remotely. Contact us for details.
Indeed, the UAE is one of a select group of countries in the world with 0% income taxes.
The UAE is not known for being an international tax haven. It has a great number of Tax Treaties in place which makes the UAE an optimal location for legal and compliant international tax planning.
In 2018, the UAE introduced Value Added Tax (VAT). However, the RAK Offshore Company is NOT subjected to VAT.
In 2022 a corporate tax of 9% on corporate income above 100.000 USD was announced. This tax will apply to business operating within the UAE.
Free zone and offshore businesses will also be required to register and file a corporate tax return. However, the new corporate tax regime will continue to provide the tax incentives currently offered to these businesses―to the extent that they do not conduct business with the UAE mainland.
Any personal income remains tax-free also.
Do You Also Want to
Form A Dubai Based Free Zone Company?
If you wish to set-up a business in Dubai with the help of a professional, then you can go ahead and fill in the form below.
We will get back to you with an instant assessment of your situation and a tailor made consultation.
You'll know the prices, the process and the requirements.
And after we have identified what you need, we will be able to quickly continue with the smooth incorporation of your company.
So please go ahead... Fill in the form below to initiate your new astonishing business success.
...Your future starts now...
See you on the inside,
The staff of Freemont Oneworld Group
Freemont Oneworld Group Dubai
Freemont Services DMCC Dubai Branch
Level 18, Office 10
Al Abraj South Street
Dubai, United Arab Emirates
Tel: +971 444 57 900
P.S. Stop wasting your money on out of control taxes and your time on senseless reporting. A cheap, solid, confidential and awesome option is available to you!
P.P.S. Get that “Free Consultation” that will kick-start you business in to 5th gear when you act NOW.