The advent of the Internet is powering a dramatic transition in the fundamental dynamics of businesses worldwide, driving organizations to shift focus from offline services to online ones. The Internet is a source for a countless number of prospects, even allowing business establishments to set up lucrative offshore operations.
Not just this, the Internet has emerged as an essential tool to assist and inspire start-ups and smaller enterprises. This has empowered them to compete with million dollar conglomerates for a fair share of profits in their respective markets, through e-commerce.
Dubai, in the UAE, lists amongst the highest seats of financial power in the Middle East and possesses advanced e-commerce facilities utilized by a major proportion of its population. Dubai provides a range of perks such as incentives, flexible registration procedures, little or no red- tape, minimal taxation, and a cosmopolitan environment, aimed at encouraging businesses. Dubai is one of the most popular destination Worldwide in 2017 for business development.
Benefits of Company Formation in Dubai
Dubai houses the Dubai Internet City (DIC), the most expansive IT space in the entire MENA (The Middle East and North Africa) zone. This comprises a part of the Dubai Freezone, and entails the following benefits for businesses:
- Allows complete foreign ownership.
- Provides custom duty rebate to foreign businesses.
- Incorporates taxation benefits for foreign employees.
Procedures Required For a Business Setup in Dubai
- Obtaining A License: To set up a web-based establishment in the UAE, it is mandatory to obtain a License from the Department of Economic Development (DED). The nature of the business determines the type of license required. If the establishment is sought to be set up within a Freezone, the license has to be obtained from the concerned Freezone Authority.
- Finding an Office Space: A business based in Dubai is also required to possess its own office space, to be considered legitimate.
- Developing A Website: The development of a website is a composite procedure, which consists of the following elements:
- Domain Name Registration: A domain name is a name or address, which a business setup uses for its website. A wide array of companies, provide their services for domain name registration.
If the business venture is an Internet shopping portal for the sale of products, an Online Payment Gateway is also required to be set up, to facilitate various modes of payment.
- Paying duties for imports/exports: Products imported, for sale in the UAE market, require the business establishment to possess an importer’s code from the concerned ports and customs authorities; also entailing a 5% customs duty. However, businesses set up within a Freezone, who sell their products within the Freezone or outside the UAE, are exempted from customs duties.
We, at Goldman Consultancy, possess an impeccable reputation of providing offshore company formation services in the UAE at extremely affordable prices. Our vast expertise allows us, to implement effective strategies for driving your business set-up in the best possible direction.