There’s no doubt that there are plenty of opportunities to do business in Dubai for Indians. According to the statistics, in 2019, the Indian members registered with Dubai Chambers accounted for 38,704. Moreover, free zones like JAFZA and DMCC are home to over 800 and 3000 plus Indian companies, respectively.
So, if you are wondering, “Can Indian start a business in Dubai?” Yes, they can! Now, if you want to learn how to start a business in Dubai, this blog is for you.
This blog will walk you through everything there is to learn about the process of starting a business in Dubai for Indians. It covers everything from the benefits to the documents and the process to the costs involved. So, without any further ado, let’s dive in.
Why Should You Start a Business in Dubai?
There are several benefits of starting a business in Dubai for Indians. Here is a list of the most prominent ones.
- The first benefit is that the Dubai government is very supportive throughout the business setup process.
- You don’t have to pay any type of taxes, be it income, personal or corporate. Moreover, Dubai’s VAT rates are considered the lowest in the world.
- To start an Indian business in Dubai, you get to choose between a mainland region, offshore, and 25+ free zones to set it up. That way, you can think through and decide on the best location for your business needs.
- There is no need for huge capital to start a business in Dubai. Moreover, you can get your business license at highly affordable rates if you contact business set-up consultants.
- If you decide to set up an Indian business in the mainland region, you get to do business in the local markets and across the country. Moreover, you don’t need a physical office if you decide to do business in the mainland region.
- Given the high-tech infrastructure, modern facilities, new-age technology, etc., the process of starting a business in Dubai for Indiais pretty straightforward.
What Are the Required Documents to Start a Business in Dubai?
Although the process of starting a business in Dubai is straightforward, the paperwork can be tedious. So, here is a list of the primary documents you’ll need to get started.
- A copy of your passport.
- A copy of your visa or an entry permit.
- 2 copies of colored, passport-size photographs.
In addition, you will have to arrange for a few more documents depending on your business’s size, nature, and activities. Therefore, to get a detailed list of the required documents, you can get in touch with the business consultants at UAE Expansion .
What Is the Process for Starting a Business in Dubai for Indians?
The process of starting a business in Dubai is simple. If you follow the given steps, you will be able to wrap up the whole process within a matter of two days. So, here’s an overview of the entire process.
1. Decide Your Legal Structure and Business Activities
The first step is to decide on a legal structure. You can choose a sole proprietorship, a partnership, a branch, or an LLC. Next, you need to select your business activities from over 2000 business activities offered by the DED. Note that you can only select up to 10 activities on 1 business license.
2. Decide on a Company Name
Select an appropriate company name and register it with the concerned legal body. Moreover, ensure that it does not overlap with the name of an existing firm and complies with other naming guidelines set by the Dubai government.
3. Get Initial Approval
Now, you need to apply for initial approval. So, you must gather all the necessary documents and submit them to the concerned legal body. If everything is in place, you will get a green chit from the Dubai government to start an Indian business.
4. Rent an Office
Rent an office space suitable for your business operations. Next, you must register with Ejari to get your unique Ejari number for future references and the tenancy contract. This is important as you’ll need an official address for all your business documents.
5. Apply for a Business License
Next, you need to apply for a business license. Therefore, you must collect all the required documents and submit them with the DED. Ensure to double-check all the documents before handing them over.
6. Pay the Required License Fee
If everything seems to be in place, the Dubai government will issue your business license in 4 to 5 days. Next, you must pay the required license fee within 24 hours of collecting your license.
7. Open a Bank Account
You must open a corporate bank account. This will help you with smoother financial transactions and keep track of each of them.
In addition, you need to complete a few more steps and get the required permissions depending upon the type of your business. You can contact the business set-up consultants at the UAE Expansion to get additional details.
What Is the Cost of Starting a Business in Dubai for Indians?
It is challenging to give an exact break up of the cost of starting an Indian business in Dubai. To get the actual cost, you need to consider the business size, nature, office space, jurisdiction, etc. However, to give you a rough idea, starting a business in Dubai can cost anywhere between AED 10,000 to AED 30,000.
To get a detailed break up of the cost, you can contact the business setup experts at the UAE Expansion.
Start Your Indian Business in Dubai Through UAE Expansion
Now that you’ve read this blog, we’re optimistic that you have adequate information on how to start a business in Dubai. However, there are still a few additional things that you must consider before diving right into it. Therefore, it’s best if you seek help from business setup experts.
The business setup experts at the UAE Expansion have years of experience. They are well-versed in the business setup process and will guide you at every step.
From helping you refine your business plan to gathering the necessary documents to getting required permissions on your behalf, they will look after it all. Moreover, they can get your business license at relatively affordable rates in no time. So, all you need to do is call them, and they will take care of the rest.