Over the past few years, many entrepreneurs have been interested in the cost of starting a business in Dubai mainland. Why? Well, there are various reasons for that. Firstly, according to the Global Entrepreneurship Index 2022 report, the United Arab Emirates leaped to the number one position this year. Secondly, the UAE emerged as the winner beating 46 other economies.
Moreover, the mainland is the most preferred location because it allows 100% ownership. So, if you too want to start a business in the mainland region, now is the time. This blog covers everything from the benefits to the process and the cost of starting a business in Dubai mainland. So, we suggest you read ahead.
Why Should You Set up a Business in Dubai Mainland?
There are various benefits of setting up a business in Dubai mainland. A few of these have been mentioned above. Furthermore, you will learn a few more significant benefits that usually attract entrepreneurs from across the globe.
- You can set up a company anywhere, not only in the city but also anywhere in the country. Moreover, you can set up branches of your company and build a strong presence.
- Owning a mainland company enables you to trade freely with the local markets.
- You get the freedom to take government contracts.
- The owner of a mainland company can apply for multiple employee visas. But, the number of visas depends on the size of the office and the type of business.
- Unlike the free zones, you get more business activity choices offered by the DED. Moreover, there are fewer nationality and currency restrictions.
- The Dubai government doesn’t charge any type of tax on the profits earned. Be it income, corporate, or personal tax.
In addition, a mainland business setup offers more opportunities to expand across various countries. You can build various professional connections that help you throughout the course.
What’s best? Repatriation of capital and profits is admissible. Also, who doesn’t know about the excellent support from the Dubai government? All of this makes setting up a business in the mainland region easy and hassle-free.
Documents Required to Business Setup in Dubai Mainland
Now that you know the benefits of setting up a business in the mainland region of Dubai, you must know the documents you need to start the registration process. Although the registration process is easy, the documentation is a bit tedious. Here, we have mentioned the primary documents you must have to start the registration process.
- License Application.
- Attested LLC agreement.
- Required governmental forms.
- Name reservation and initial approval certificates.
- External departments approval.
- Tenancy contract.
- EJARI registration certificate.
- Copy of NOC for partners.
In addition, you need to submit a few more documents with the DED. These additional documents may vary depending on the business activities you choose and the nature of your business. Therefore, you can contact the legal experts at the UAE Expansion to get a detailed list of the required documents.
What Is the Process to Start a Business in the Dubai Mainland Region?
Once you have gathered all the documents, the registration process is quite simple. Here is an overview of the steps you need to complete to register your business in a mainland region legally.
Step 1. Decide on the legal structure of your business. Do you want it to be a sole proprietorship, an LLC, a branch, or a partnership?
Step 2. Based on the legal structure, select your business activities. Furthermore, decide on a trade name and register it with the DED. But, before registering the name, go through the naming guidelines set by the DED. You must ensure that the chosen name complies with the same.
Step 3. Next, you gather the required documents and apply for initial approval. Once you get the initial approval, you can rent an office space and register it with Ejari. Once you do, you will get your tenancy contract and unique Ejari number.
Step 4. Double-check all the final documents and submit them with DED along with a business license application.
Step 5. The DED will issue your mainland business license if everything seems in place. Moreover, you must pay the required license fee within 24 hours of collecting your business license.
Step 6. You must open a corporate bank account for smoother financial transactions.
Step 7. Apply and acquire a residency visa. Note that without a visa, you cannot complete the registration process.
In addition, you need to consider a few more things while setting up a business in the mainland region. These may vary depending on the size, nature, and type of activities you choose for your business. So, it’s best to connect with the business setup experts at the UAE Expansion. They will provide you with all the necessary details.
What Is the Cost of Starting a Business in Dubai Mainland?
It is challenging to provide an accurate estimate of the cost of starting a business in Dubai mainland. However, to give you a rough idea, it may cost you anywhere between AED 10,000 to AED 28,000. Note that this cost may vary from business to business. There are various factors that affect the cost of starting a business in Dubai mainland. So, to get a detailed break up of the cost, you can contact the business setup experts at the UAE Expansion.
Start Your Business in Dubai Mainland
Now that you know the benefits, an overview of the documents, and the process, you can start with the registration process of your Dubai mainland business. Since the paperwork can be tedious and overwhelming, it is best to seek help from business setup experts.
The business setup consultants at the UAE Expansion branch are well-versed in the mainland business setup process. They are well aware of all the nitty-gritty of the mainland business setup. Therefore, they will guide you at every step, from refining your business plan to gathering all the necessary documents.
Moreover, they will also acquire the required permissions on your behalf and get your business license at highly affordable rates. All you need to do is call them or drop a mail. They will take care of the rest while you focus on other important business matters.