Dubai is no doubt the center of business hub which is attracting investments from all around the world. This makes it an ideal place for starting a business. There are so many benefits to company formation in Dubai. Promising business opportunities have served to attract an ever-increasing number of investors to the country. If you also want to make the most of this opportunity, then we have good news for you. Forming a company may appear a bit difficult but if you are forming a company in Dubai such as RAK offshore company, then it is a bit simpler and quicker with strong incentives. Dubai is praised among the foreign entrepreneurs for its free zone. As free zone market offers 0% corporation and personal tax, 100% company ownership, 100% repatriation of capital and profits, no currency restrictions, and 100% import and export tax exemption.
If you also want to take advantage of these incentives then we can help you establish companies in various free zones by simply following these steps.
- Choose your business activity and Name: You need to determine the nature of your business such as media, medical, or transport, and aside from the restrictions. Also, find out about the transport links. If the nature of your business depends heavily on import and export, you should choose one of the free zones situated close to the airport or port.
Dubai is a bit strict about naming conventions, therefore, when you are choosing a company name, make sure it conforms to these conventions. Company names with offensive language are forbidden. Names with any other religious, sectarian or political groups, such as the FBI or Mafia are prohibited. An expert and experienced person will be able to guide you on all the naming conventions.
- Complete paperwork and license notification: Complete all paperwork such as company name and activity, to be provided along with copies of shareholders’ passports to the relevant government authorities. A letter from a current sponsor will also be required which will confirm that you are allowed to set up another business in the UAE. Once the paperwork is processed, the government will issue you with your company license. You can take the help of DIFC wills service center.
- Open a bank account: Next, you need to do is to open a bank account. Dubai has both local and international banks. You can choose the most suitable option.
- Process your visa: Finally, the last step is to apply for your visa. Your sponsor can get you a visa that meets all of the entry criteria.