September, 2020

Author: Dominik Stuiber

Setting up a business in the UAE is a dream of many. The UAE connect Europe and Asia and serve as the favoured entry point to the African continent creating a robust economy and growth prospects. The ease of doing business and sheer endless possibilities make it an ideal location for a startup or hub for an expanding business.

There are three major jurisdictions, mainland, offshore, and free zone to consider when looking at setting up a company in the UAE and its main city and business hub Dubai. Each jurisdiction has its own features, advantages, and limitations. Free zones are a great option providing a tax-free business environment and retention of full ownership of the business without the need for a local partner. However, free zones restrict businesses from operating outside of its geographical confines. There are now more than 50 free zones across the UAE.

Dubai welcomes investors, entrepreneurs, SMEs and multinationals to its latest free zone aboard the iconic Queen Elizabeth II. The former luxury cruise liner is now permanently docked in Dubai’s Mina Rashid and hosts a hotel and business centre. The Free Zone is operated by KIKLABB, a government owned entity, which is authorized to issue general trade, commercial and professional services licenses, known as “The Dubai Dream Licence”, to registered businesses offering up to five related activity codes under a single licence. The focus is creating a community by organising regular motivational networking events and workshops empowering companies to grow their business in Dubai suits particularly entrepreneurs and startups. A Dubai Dream License company is able to sponsor UAE visas for the founder or director and their dependants. The company can be established and trade license issued without visiting the UAE.

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