Yes, a non-UAE national can actually start a business in Dubai too, and many do so nowadays. The population of the emirate is above 80% foreign, with most of these having their own small businesses. Dubai actively encourages foreign business owners and investor from abroad to establish a business or investment opportunity in the country. The city state is home to a number of business formation specialists and international set up agents, designed to help guide potential foreign entrepreneurs through the process of setting up their own venture in Dubai. This is especially important for non-UAE national who want to establish an offshore company in the UAE. Most offshore companies require UAE registration because the government considers all commercial ventures in the country as being under its jurisdiction.
So how do foreigners begin their search for a suitable offshore business development and registration firm? Just like in the case of a UAE national, they can start by consulting online sources that offer directory listings of offshore holding companies in the region. They can also consult government websites, such as the Dubai Trade License (DETL), and Department of Business and Industry (DBI) information portals on the web. These can also be used as first-hand resources for researching a particular company, as certain companies offer valuable assistance to foreign investors in setting up a business.
Once one has found a suitable venue for conducting research, the next step is to choose a company name. The laws on foreign ownership and trade are different in Dubai. Companies can only be registered with the relevant Dubai company name authorities. Foreign investors will not be able to buy shares in any owned company in the country without a trading license issued by the Dubai Trade License (DETL).
Companies wishing to buy shares or a franchise in Dubai need to apply for a business license through the Dubai Corporation. A business license is necessary for the processing of company formation. Before a company can start trading, it must be registered under the Companies Act of Dubai. The Company Registration Office offers a full range of services, including business license registration, on its official website.
After a company is registered, it is eligible to obtain a Dubai Trade License (DETL). The Dubai Trade License is valid for five years and may be renewed after the expiry of the current license. This is one of the main requirements that companies seeking to start a business in Dubai must meet. Companies are required to apply for a Dubai commercial license if they intend to trade in the free zone of Dubai.
There are many attractions for foreign investors who wish to establish businesses in Dubai. Dubai’s business climate has created many opportunities for expatriates to start businesses in Dubai. Many foreign investors have obtained a UAE business visa and are working in Dubai. A few years ago, this was not so common as there were not so many foreign investors in the freezone.
However, the situation has changed. Dubai has made great strides to attract more foreign investment. The government started a program called “Oceans”. This initiative provides foreign investors with numerous benefits. Dubai’s economy has grown considerably in the last twenty years. As a result, there are many jobs available in Dubai and one must take advantage of these opportunities.
The Dubai Trade License and the Dubai business activity permit are required by law. In order to purchase either one of these licenses, or for that matter a commercial license for trading, one must seek the service of an experienced and reputable immigration setup agent. Such an agent can help one obtain the right business license and trade license for trading from Dubai. These agents specialize in various fields related to immigration and emigration. They are best known for their vast experience in facilitating immigration and trade to the United Arab Emirates.