How To Move Your Business To Dubai? (FULL GUIDE)
Table of Contents
Introduction
Setting up a business in Dubai and obtaining residency can seem like a daunting task, especially for those unfamiliar with the process. However, with the right guidance and understanding of the steps involved, it can be a smooth and straightforward process. In this comprehensive guide, we will walk you through each stage of setting up your business and securing residency in Dubai, including timelines, requirements, and key considerations.
Registering Your Business
Registering your business is the pivotal first step towards establishing your presence in Dubai’s vibrant business landscape. Whether you’re a seasoned entrepreneur or embarking on your maiden venture, navigating the process of company registration requires meticulous attention to detail and adherence to regulatory requirements. Here’s a closer look at what it entails:
Documentation Requirements
Passport Copy Scan: Providing a clear scan of your passport is the primary document required for company registration in Dubai. This serves as proof of identity and is essential for initiating the registration process.
Additional Documents: Depending on the type of business activity, jurisdiction, and legal structure chosen, other documents such as shareholder agreements, Memorandum and Articles of Association (MAA), and lease agreements may be required.
Partnering with a Consultancy Firm
Streamlining the Process: Partnering with a reputable consultancy firm can streamline the company registration process and ensure compliance with local regulations. These firms have in-depth knowledge of the legal requirements, documentation procedures, and submission protocols, expediting the registration process.
Expert Guidance: Experienced consultants can offer expert guidance on choosing the most suitable business structure (e.g., Limited Liability Company, Free Zone Company, Branch Office) based on your specific requirements, industry, and growth objectives.
Timelines and Turnaround
Efficient Processing: With the assistance of a trusted consultancy firm, the company registration process can typically be completed within a remarkably short timeframe, ranging from 3 to 5 business days. This efficient processing enables entrepreneurs to swiftly progress to the next steps of their business setup journey.
Transparency and Communication: Throughout the registration process, consultancy firms maintain transparent communication with clients, providing regular updates on the status of their application and addressing any queries or concerns promptly.
Entry Visa & Entry Permit
Once you have received approval for your entry visa, the subsequent step involves obtaining an entry permit, which grants you legal entry into Dubai. Whether you are already within the country or planning to enter from abroad, the entry permit is an essential document for establishing your residency status.
For those already in Dubai, the next phase is to transition your status from a tourist to an employee resident. This process is relatively straightforward and can often be completed on the same day. It involves submitting the necessary paperwork to the relevant authorities and updating your residency status officially.
With the assistance of a trusted consultancy firm like ours, you can navigate these administrative procedures efficiently and seamlessly. We offer personalized support throughout the process, ensuring that all documentation is prepared accurately and submitted promptly. Our expertise in handling residency applications expedites the process, minimizing any delays or complications.
Upon successfully completing the status change process, you will be on track to obtaining your residency permit, a crucial step towards establishing your presence in Dubai. This residency permit signifies your legal authorization to reside and work in the emirate, providing you with a solid foundation for conducting business activities and pursuing personal endeavors.
Completing Medical and Biometrics Appointments
After obtaining your entry permit and transitioning your status to an employee resident, the next crucial step in the process is to complete your medical and biometrics appointments. These appointments are mandatory components of the residency application process and require your physical presence.
At our consultancy firm, we understand the importance of efficiency and convenience. That’s why we offer a VIP service that streamlines the medical and biometrics appointments, ensuring minimal disruption to your schedule. With our VIP service, you can expect to complete both appointments on the same day, eliminating the need for multiple visits to various facilities.
During your medical appointment, you will undergo a series of health assessments to ensure that you meet the health requirements for residency in Dubai. This may include basic medical tests such as blood pressure measurement, blood tests, and a general health assessment conducted by qualified healthcare professionals.
Following your medical assessment, you will proceed to the biometrics appointment, where your fingerprints and biometric data will be collected for identification purposes. This step is crucial for the issuance of your residency permit and ensures the security and integrity of the immigration process.
Applying for Residency
Once your medical and biometrics appointments are successfully completed, our team will promptly submit your residency application to the relevant authorities. With our expertise and established relationships, we expedite the processing of your residency application, typically receiving approval within two business days.
Upon approval, your residency permit will be issued, granting you official residency status in Dubai. Additionally, you can expect to receive your Emirates ID shortly after, which serves as a primary form of identification and is required for various administrative processes, including opening a bank account and accessing government services.
By leveraging our VIP service and expertise in residency applications, we ensure a smooth and efficient transition to residency in Dubai. With minimal hassle and maximum convenience, you can focus on settling into your new business environment and pursuing your professional and personal aspirations with confidence.
Opening a UAE bank account
With residency secured and your Emirates ID in hand, the final step in establishing your presence in Dubai is to open a bank account. This step is crucial for conducting business operations, managing finances, and accessing various banking services offered in the UAE.
Fortunately, with your residency status and Emirates ID, opening a bank account in Dubai is a straightforward process that can often be completed within a remarkably short timeframe. In fact, with our assistance, many of our clients have successfully opened bank accounts in as little as an hour.
As a trusted consultancy firm specializing in business setup and residency services, we understand the importance of a seamless banking experience. Our team is well-versed in the requirements and procedures of local banks, allowing us to guide you through the account opening process efficiently and effectively.
We will assist you in preparing the necessary documentation and liaise with the bank on your behalf to expedite the application process. Whether you require a personal or business bank account, our goal is to ensure that you have access to the banking services and facilities that best meet your needs.
what is difference between freezone and mainland company?
Establishing a business in Dubai can be done through two primary jurisdictions: free zones and the mainland. Each jurisdiction offers distinct advantages and considerations for entrepreneurs:
Free Zone Company
- Ownership: Free zone companies allow 100% foreign ownership, meaning that individuals or entities from outside the UAE can fully own and operate their business.
- Taxation: Most free zones offer 0% corporate and personal income tax for a specified period, typically 15 to 50 years. This tax exemption applies to both local and international transactions.
- Import/Export: Free zone companies benefit from simplified import and export procedures, often with customs duties exemption.
- Business Activities: Free zones are designated areas for specific industries or activities, such as technology, media, healthcare, and logistics. Companies must operate within the scope of activities permitted by the respective free zone authority.
- Office Space: Free zone companies typically lease office space within the designated free zone area. However, some free zones allow companies to operate virtually without physical office space.
- Trading: Free zone companies can conduct business with entities outside the free zone without the need for a local distributor or agent.
Mainland Company
- Ownership: Most Mainland companies require a local partner, known as a sponsor or service agent, who holds at least 51% of the shares. The local partner may not necessarily be actively involved in the business operations and is compensated through a predetermined annual fee or profit-sharing arrangement.
- Taxation: Mainland companies are subject to corporate tax, However, businesses may be subject to local taxes and fees imposed by the respective emirate.
- Business Activities: Mainland companies have more flexibility in conducting a wide range of business activities without restrictions on geographic location within the UAE.
- Licensing: Mainland companies obtain licenses from the Department of Economic Development (DED) in the respective emirate where the business operates. The DED oversees business registration and compliance with local regulations.
- Employment: Mainland companies have no restrictions on hiring employees from the local or international market. However, they must comply with UAE labor laws regarding employment contracts, salaries, and working conditions.
- Operations: Mainland companies can trade freely within the UAE market and participate in government tenders without restrictions.
Conclusion
In conclusion, the journey to setting up your business and obtaining residency in Dubai can be completed within a remarkably short timeframe, typically ranging from 3 to 4 weeks. Our consultancy firm specializes in facilitating this process, offering personalized support and guidance every step of the way.
If you are considering setting up your business in Dubai or have any questions about the process, we invite you to book a consultation with us. Our experienced team is here to provide expert advice and assistance, helping you navigate the intricacies of business setup and residency acquisition in Dubai with ease.
At GenZone, we are committed to delivering exceptional service and ensuring a seamless experience for our clients. Let us help you turn your business aspirations into reality in the vibrant and dynamic city of Dubai.
