In the Indian subcontinent, the Indians have been the most prolific investors in Dubai and many other regions of the United Arab Emirates for hundreds of years. The varied business model in Dubai has allowed Indian companies bursting with innovative ideas to grow and mature in different ways. A third point is that a number of Indian companies have opened new commercial channels in Dubai.
If you have an original concept and are driven to establish your own company in this area, you may be one of the people who is moving here. This post covers everything you would need to know about starting up a company in Dubai from the perspectives of Indian startups.
Dubai? Why on Earth?
Support from the government
The Dubai government makes it easy for new businesses to be established in Dubai.
Companies registered in Dubai are eligible for a number of tax breaks, as well as accessibility to modern infrastructure and connections. As Moreover, the Indian government’s liberal policies and the company setup structure particularly designed for Indians enable entrepreneurs to establish a firm in just three days’ time. All required papers and permissions have been acquired.
Location for strategic positioning
With Dubai, a gateway to both the East and West, enjoying the benefits of a central position, it’s easy to see how it’s so popular. With its liberal standards and cosmopolitan populace, Dubai is an excellent starting place for commercial operations in the Middle East. Because it is just a three-hour trip, travelling to Dubai is a handy way for Indian firms to check on their worldwide business operations and make corrections. Additionally, Dubai has the world’s biggest seaport — the Jebel Ali Port — and the world’s most connected airlines — Emirates and Fly Dubai — which further benefits trade and distribution businesses. the world-renowned infrastructure that is available as a free add-on to a company in Dubai offers infinite office space, round-the-clock communication, and internet access.
Foreign business investors in Dubai may make a good return while paying no taxes and being exempt from personal or corporation taxation. In contrast to different taxes that have been levied on investors and businesses across the globe, such as those found in India and other places, Dubai does not only provide investors a platform for deposit, but also a means of saving on taxes. In the last few years, there has been considerable changes in the tax system in the UAE, resulting in VAT being introduced and excise duty being applied to some products. However, the taxation advantages in India far outweigh the country’s tax regulations. You may be guaranteed of being financially successful in Dubai, UAE because of free commerce, cheap import duty, double taxation agreements.
How to start a business in Dubai
If the aforementioned characteristics have captured your interest, and you are interested in starting a business in Dubai or eager to learn about the expenses associated with doing so? The steps to follow while starting a company in Dubai are listed below:
Also known as trade name registration.
You must register your business in Dubai with the Department of Economic Development to set up shop there.
It is strongly recommended that the company’s Memorandum of Association be notarized at the Department of Economic Development.
In order to begin a business in the UAE, submit and approve the papers with the Department for Economic Development.
Decide on a Trade License appropriate to your line of business and jurisdiction.
The Dubai Chamber of Commerce and Industry encourages business growth and supports new ventures (DCCI)
The best way to apply is by applying at the Ministry of Labor for the establishment card.
With the Ministry of Labor, be sure to register your workers.
Participate in Social Security and Pension Scheme Rent/Lease an Office
If you want to get a better understanding of your company’s general operations, reach out to business setup service providers.