People from all around the world travel to Dubai looking for better career opportunities and the chance to live a luxurious, sun-drenched lifestyle. Besides, it is one of the most enduring places for innovations in the world.
It accommodates many international firms, including opportunities for ambitious investors and entrepreneurs. Many foreign companies, especially UK businesses have found Dubai promising to start a venture as well as to expand their existing business into international markets.
Between minimal tax obligations, hassle-free immigration policies, and a straightforward licensing process, starting a business in Dubai for UK citizens is easy and rewarding.
So, if you are thinking of moving your business plan from the UK to UAE, then we have all the information here that you’ll need.
Top benefits of starting a business in Dubai for UK citizens
Thousands of British citizens have established their companies in the UAE. So, what draws them to this country? Here are the reasons for that –
1. Tax policy
Dubai’s business-friendly regime is one of its main characteristics. It charges low, and sometimes no taxes to companies running there. Therefore, businesses tend to retain more profits compared to businesses in the United Kingdom. Moreover, business owners are free to withdraw their investments as and when they wish.
Dubai is one of the major markets in the world. It offers a fantastic location for companies to access other significant markets. Besides, it serves as a gateway to the Gulf Cooperation Council countries that accommodates almost two billion people.
3. Diversified economy
Dubai houses numerous businesses working in various sectors such as energy, fashion, architecture, tourism, retail, and many more. This diversity thus brings in enormous opportunities to start a business and prosper.
4. Strong connections
The United Arab Emirates and the United Kingdom share a strong social, economic, and political connection. Hence, being global associates and major trading partners, it is feasible to start a business in Dubai for UK citizens.
5. English is spoken widely
Although Arabic is the official language of the UAE, English is also spoken widely in the country, which eventually makes things easier for UK expats.
6. Advanced technology
UAE is a leading hub connecting businesses with technology and innovations, regardless of whether your company is tech-based or not. The level of investment the UAE government puts in for the advancement of technology is noteworthy. For example, the Fujairah 2040 Plan focuses on the improvement of housing and transportation infrastructure.
7. Quick setup
Free zones in Dubai offer fast and flexible company setup packages that suit the specific budgets and logistics of foreign investors. The assistance of UAE Expansion business advisors can enable you to fast-track this approach, including the complex paperwork and legal processes.
8. Better lifestyle
The quality of life UAE offers is incomparable with that in the UK. The climate, education, smart technology, mixed culture, and reduced stress together support the evolution of a modern global business center.
Apart from the above, there are many other associated benefits of setting up a business in Dubai for UK citizens –
- UK’s largest export market in the Middle East region as well as globally
- UK’s export partner outside of the European Union
- Liberal trade regime
- A significant market for re-export into other countries
- Entry route to other countries like North Africa, Asia, and GCC nations
- Well established infrastructure
- Secure banking structure
- Stable political system
What visa do UK citizens need for Dubai?
- Employment Visa – Employer arranges this visa for their respective employees to allow the latter’s entry to the UAE.
- Remote Work Visa – Through this visa, the individual can relocate to the country and continue working for their respective company remotely.
- Dependent Visa – This visa is usually issued by the applicant’s spouse or parents who are already living in Dubai.
- Student Visa – Individuals who have enrolled in one of the universities in Dubai are issued a Student Visa.
- Investor Visa – This type of visa is issued to those expats who are investing through their own company or any other established enterprise in the UAE.
- Retirement Visa – This 5-year visa is issued to expats who are over 55 years old, and living in Dubai.
Things to consider while moving business from the UK to UAE
There are many things UK investors must take into account while setting up their company in Dubai, UAE. Seeking advice from the professional business consultants of UAE Expansion can help you with the below concerns and form your UK business in Dubai effortlessly as well as in an affordable way.
- Budget – Determine your budget and check if it is reasonable to move your business to Dubai.
- Business activities – Is it possible to carry out the relevant business activities in Dubai?
- Visa – Since visa acquisition is one of the most important aspects of moving to another country, check whether it is possible to get a visa for yourself, your family, and your employees in UAE.
- Banking services – Check the available banking options, and what banking services you can avail with your business license.
- On-going support – Are you fully aware of your business obligations, rules and regulations of the UAE regime after successful setup?
- Location – Where you will be setting up your company? Is there a requirement for an office, or warehousing? Is there easy access to ports and airports? Consider all of these while choosing a location as the growth of your business is heavily dependent on it.
Speaking of locations, Dubai offers two major options for location –
Free zones v/s Mainland
Free zones are ideal for foreign businesses as it allows complete ownership of it to foreign investors. Ever since the establishment of the first free zone in the 80s, it has expanded both in terms of size and scope offering a positive atmosphere for businesses to run smoothly and grow. At present, almost 48 free zones are operating in the UAE, with each zone administered by a separate regulatory body.
Additionally, UK entrepreneurs can avail the following advantages in Dubai –
- Privacy and confidentiality of shareholders’ information
- Impactful networking support and guidance
- Effortless and quick incorporation
- Exemption from import-export duties
- Profit and capital repatriation
- Simple recruitment procedures
On the other hand, Mainland companies are onshore organizations administered by the Department of Economic Development (DED). The primary feature of mainland firms is the absence of limitations on choosing commercial activities. Nonetheless, certain activities might demand the involvement of a UAE partner or local sponsor in the company.
Mainland companies offer the following advantages to British citizens –
- Unrestricted access to global markets
- Freedom to conduct business anywhere in UAE
- Capital repatriation
- Permission to establish office anywhere in the Emirate
- Authority to open multiple branches, thereby establishing a strong presence in the market
- Opportunity to work with and in government contracts
- Ability to issue multiple visas
- Complete exemption from taxes
How can UK citizens start a business in Dubai?
British citizens have been doing business in UAE for decades. In fact, thousands of them are even employed in these companies. Moreover, the application for getting a trade license and residence visa is relatively straightforward. Furthermore, the government has been very generous towards welcoming ex-pats from around for world willing to start companies in Dubai.
So, if you are a British citizen, wanting to start a company in Dubai, then here is all you need to do –
- Select an activity
- Choose a name and location
- Complete your application
- Open an account
Standard documentation requirement:-
- Detailed business plan
- Business setup application
- Passport copies of UBO(Ultimate Beneficial Ownership), Director, and General Manager
- Utility Bills of UBO, Director, and Manager
- UK company documents
- Certificate of reference from a personal bank of each shareholder
Having an expert business consultant like UAE Expansion is essential, who will handle the hefty work and ensure a smooth process.
From small start-up firms to large-scale corporate branches, the consultant experts of UAE Expansion Business Setup can help you steer through the ins and outs of conducting business in Dubai and the UAE. So, let the experts help your business find the destination it deserves.