Dubai is the most modern and progressive country in the UAE, which is developing rapidly. Investors flock to Dubai to start their dream companies as they realize the potential of the city and its future. The city has as many free zones throughout the UAE.
One of the most important considerations in creating a new company in Dubai is the cost of establishing it. What attracts entrepreneurs most when setting up companies in Dubai is the less onerous tax regulations.
It is possible to set up a free zone company in Dubai or an offshore company. The Dubai free zone company is wholly owned by the person who starts it. No agent or sponsor is needed for management or communication.Â
However, it is not only a new business that you will start but also a whole new life that you will have to move. This article also has a guide on running, to help simplify the entire process.
Company Setup in Dubai
When opening a company in Dubai in any of the many free zones, it is essential to remember that different free zones have different rules and regulations, procedures, and fees. Many of these free zones require business owners to have a minimum amount of capital. This differs if they start a new business in Dubai compared to simply opening a new branch of an existing business or company.
Running a company in Dubai Free Zone is quite beneficial as it allows for full ownership of the business and can be established by one person. In this case, you can also open a bank account in Dubai and own a property.
Registering an offshore company in Dubai, or even registering a trademark, there are a few requirements. Today many companies are offering these specialized services to help you open a company in Dubai. These companies will help you with every aspect of starting a business in Dubai, including trademark registration, PRO services, and payroll accounting.
The company’s business consultants can also help you prepare the various documents needed for business setup in Dubai.Â
Here are some requirements that consultants can help you with:
- They can also help you obtain visas and work permits for your employees
- They provide partnership options in the case of an offshore company or branchÂ
- They will also help you get the various licenses that you need from different ministries and departmentsÂ
- Open your bank accounts.Â
In general, company formation consultants can make it easier for you to set up a business in Dubai.
Relocation TipsÂ
The United Arab Emirates is becoming an increasingly popular destination for expats from around the world. With a good standard of living, high wages and plenty of jobs, Abu Dhabi and Dubai has established itself as the two most expatriate friendly cities in the world.
However, if you plan to move to the UAE, there is a lot to organize before you leave, from immigration documents to check local schools. To facilitate your move, here is a checklist for moving to the Emirates. It includes the following information:
Do your research
Before moving to the United Arab Emirates, you must first do your homework. For many expatriates, the UAE represents an entirely different culture and lifestyle, so it is essential that you know if this is suitable for you and your family. It is not something that you want to wait and discover after you have already taken this step. Therefore, read blogs about people who have moved there already.
Arrange your visa
Do you know the requirements for joining the UAE for you and your family? When moving to any country, you must first consider whether you have a legal right to live and work in that country.Â
The requirements to enter the UAE vary according to individual circumstances, so make sure you have the correct visa and immigration documents sorted out before you leave. This will help you avoid any inconvenience when arriving at your new home.Â
Transport your belongings
Do you think you can move all your worldly possessions to the UAE with just a suitcase? Think again.Â
Transporting you and your family’s stuff to the UAE can be difficult, so why not think about using an International Shipping Company.Â
Many moving professionals also offer assistance and support in all aspects of your move. This includes storage and other related services. These services can help relieve stress from your move.Â
Make sure that your transportation company delivers household items to your destination. For example, when you move to Qatar, you want to make sure that your belongings get there safely.
Manage your finances
When you move to the UAE, you should get your finances in order so that you can support yourself and your family. This applies to any short-term money needs as well as long-term financial management, among others:
- Bank accounts. Explore your banking options by looking at the UAE Bank Account Opening Guide.
- Pensions, taxes, and investments. See if you can transfer your pension to the UAE and how it will affect your investment.Â
- Insurance. Whatever your needs are, make sure your family’s property is protected by making sure you are covered before you leave.
You may also need to transfer money quickly and easily abroad. To do this, check out these international money transfer options:
- CurrencyFair offers money transfers to more than 150 countries at rates up to eight times cheaper than at banks to help you avoid excessive bank charges.
- Moneycorp offers currency exchange and global payments services for individual and corporate clients in more than 120 currencies.
- TransferWise is an international money transfer provider in 59 countries, offering transfers between cross-border bank accounts up to eight times cheaper than at traditional banks.
You can also use the Monito’s online comparison tool to save on fees, get the best exchange rates, and find the cheapest option for your international money transfers.
Move your vehicle
If you are thinking about importing your four-wheeled pride and joy, before you start driving, you’ll need to study the vehicle laws in your new home. Each country has its traffic laws and import restrictions. Therefore, read about how the UAE is different from your home country.Â
But can you take your car with you? Of course you can.
Take care of your pet
If you plan to move to the UAE with a four-legged family member, it is imperative to know the import requirements for pets. The UAE has specific restrictions on the import of pets and animals. Therefore, you should prepare yourself in advance. This will give you enough time to obtain all the necessary documents to avoid delays and disappointments in the long term.Â
Sort out Your Health Insurance
One of the most important things when moving abroad is to make sure that you and your family have the necessary health insurance. Being covered will give you peace of mind in your new home.Â
Insurance is now a legal requirement for all expatriates living in the United Arab Emirates.Â
Therefore, protect yourself and your family from any unforeseen medical needs.
Here are a few international health insurance companies:
Finding a Home
Do you see yourself living in a multi-story apartment building in the center of Dubai? Or perhaps you would prefer to settle your family in a residential area in prospective Abu Dhabi? Whatever your housing needs are, there are many options in the UAE for all price categories.
Look into Childcare and Schooling Options
Moving to a new country with young children and settling them into a new life can be difficult at the best of times. Relieve some of the stress from the first few weeks of the move by exploring school and daycare options before you move.Â
Although the UAE has a high level of public education, many expats choose one of the many private international schools in the country.
Start Learning the LanguageÂ
They say the best way to learn a language is to immerse yourself in it fully. However, this should not stop you from playing with some language learning before you move to the UAE.Â
So, whether you choose individual lessons or one of the many language learning apps, there are many options.
To sum up
One of the most important considerations in establishing a new company in Dubai is the cost of creating it. What attracts entrepreneurs the most when setting companies in Dubai is the less demanding tax laws.Â
Another consideration that cannot be overlooked is that the actual process of moving you and your family to the UAE. Thinking of all the aspects discussed in this article can help this process be as simple as possible.
