The UAE is one of the most sought-after business places globally, thanks to its favorable business environment. And the UAE mainland business region is one of the country’s many initiatives to boost commercial activities. It reasserts its status as an international commercial powerhouse. Consequently, more and more foreign investors are moving to the area to start lucrative business ventures.
Indian investors seeking flexibility and freedom to operate their enterprises in the UAE can use the Dubai mainland area. A mainland company formation enables you to explore government programs, grow your business into foreign markets, and do much more. So if you want to start a mainland business, continue reading.
This blog will walk you through all you need to know about the Mainland business - setup benefits, required documents, process, and cost.
What Are the Benefits of Starting a UAE Mainland Business?
Setting up your business in the mainland area can be advantageous for you. The following are some of the many benefits of establishing a business in mainland Dubai:
1. Multiple Business Opportunities
The best thing about starting a business on the Mainland is the chance to explore various industry niches. The Mainland allows for conducting many business activities. As a result, you can select the business activities that best suit your needs. Additionally, you can conveniently obtain approvals to operate your business.
2. Tax-Free Functioning
You are not required to pay personal taxes for your mainland establishment. Also, note that the UAE's government regulates a VAT taxation policy that is among the lowest in the world. Additionally, you can repatriate 100% of your profits and capital gains.
3. Availability of Local Market
Access to the local market is another alluring advantage of obtaining a license for your company on the Dubai mainland. Furthermore, there are no constraints on a mainland company, allowing them to conduct business anywhere in the UAE, including Dubai.
4. Ease of Business Diversification
There are no currency restrictions in Dubai Mainland. Furthermore, the UAE has cutting-edge technologies and sophisticated infrastructure perfect for advancing your business. Moreover, the best aspect of the Mainland business formation procedure is that it moves quickly and flexibly.
5. Chance to Collaborate with GCC or UAE Government
A company on the Mainland has more flexibility than that in a free zone. You will be eligible to compete for lucrative government contracts if you register your business in Dubai on the Mainland. You can be in an excellent position to collaborate with government projects if your business' offerings are in line with them.
Moreover, you may establish the foundation for a long-term professional partnership if your company gains the confidence of the pertinent authorities. Working with the government will also help your business gain recognition. It will improve your business's standing inside and outside the UAE.
What Documents Do You Need to Start a Mainland Business in UAE?
Every mainland business must adhere to the documentation requirements outlined by the governing authorities. The following documentation is needed to apply to establish a business in the UAE mainland:
A copy of your passport
A copy of your entry visa
Besides, you might need additional documentation depending on your company’s chosen activity, corporate structure, location, and more. The Dubai mainland company setup specialists at the UAE Expansion India Branch can provide you with a detailed document list based on your business needs.
The UAE mainland allows carrying out more than 2000 business activities. Moreover, the UAE forbids trading certain goods. So, choose the business activities you want to conduct accordingly. The officials will examine your chosen activity to issue a license.
2. Reserve Your Trade Name
The trade name reservation is central to your business setup. Make a list of a few names (at least 3–4). Additionally, ensure you follow naming convention rules the UAE government upholds.
The name you select shouldn't allude to a deity. Moreover, it shouldn't use any offensive language either. But that’s not all. Some rules are specific to some businesses, while others are general. Our consultants can help you with the UAE company naming conventions and availability.
3. Decide on Your Company's Legal Structure
An appropriate structure is essential for your company. You have a lot of freedom in deciding what structure you want for your mainland firm. In the UAE, you can establish an LLC (limited liability business), a single proprietorship, or a joint venture, among others.
4. Secure an Office Area
All mainland businesses must have a registered address to facilitate easy legal contact. Remember that only this address should receive all business-related benefits and mails. Therefore, you must find your mainland company an affordable office.
You'll have to enter into a rental or lease contract to get office space for your mainland company. Or, you can apply for a virtual office space to start your business remotely.
5. Fill Out a Mainland Company License Application
The next step to incorporating a company is to apply for a Dubai mainland license. The UAE mainland offers professional, commercial, industrial, and tourism licenses. The license type you should get for your UAE mainland business depends on your operations and expansion plans. So, choose a license according to your business activity and pay the relevant fee.
You can apply for the necessary license with the assistance of our consultants. They can assist you with the procedure, required approvals, and documentation needs.
6. Obtain Your Business License
After thoroughly reviewing your chosen activity and documents, the authorities will issue your business license. You can now apply for your and your dependent’s visas. Furthermore, you may sponsor the visas of your employees and domestic staff. To manage all financial activities for your business, you can also register a corporate bank account.
How Much Does a Mainland Business Setup Cost?
Business setup cost depends on various factors such as the business location, the kind of trade license you need, additional permissions, and many more. After accounting for all aspects, you can anticipate paying between AED 18,500 to AED 25,500 as a Dubai mainland business formation fee.
Our knowledgeable professionals can help you with the exact and relevant mainland company formation costs in Dubai based on your business needs.
Start Your Mainland Business With UAE Expansion
UAE Expansion India branch experts can help you with mainland company formation in Dubai. We specialize in the business formation procedure, including getting a license, choosing appropriate office space, business formation packages, and many more. Get in touch with us and kickstart your business right away!