The Visa cost for an investor/ employee in Sharjah based Free Zones range from Approx. 3,500 to 4000 AED. The 100% foreign ownership, no income tax and corporate tax, full profit repatriation, favorable business environment, etc., makes Dubai a perfect choice for business investment and establishing a company.

There are many cheapest residence visa options available across the Free Zones of UAE. There are a few special offers where one residence visa cost is waived off too. Taking the cheapest residence visa in UAE will help investors to keep the overall business setup cost low.

Types of UAE Residence Visa for Expatriates

There are many ways in Dubai to obtain a residence Visa. Following are few resident visa options that ex-pats can avail of themselves in the UAE.

1. Free Zone Business License

The easiest way to get a residence visa in UAE is by starting a small business by obtaining a single visa quota business license from anyone Free Zone in UAE.

The Free Zones in UAE offer virtual business licenses to investors with Flexi-desk, and co-working spaces for conducting their desired business activity through obtaining the business license.

The Free Zones in UAE are a vital part of economic growth. It is a secured business jurisdiction and offers UAE residence for company owners, and employees under a company registered in the respective Free Zone as well as provides all required infrastructure facilities for the business to thrive.

2. Mainland Company License

For investors aiming to venture into the mainland of UAE and actively expand their local business, a mainland company license is the right choice. Start a Limited Liability Company in the mainland of Dubai, take an investor visa, and sponsor employees and thrive the business.

Mainland business has many advantages for investors. With 100% ownership for expatriates, easy bank account opening, lower rental expenses, flexibility to expand, etc., LLC Company formation is one of the investor’s favorite choices.

3. Freelance Permit

For young entrepreneurs who want to start their business for the first time or try out the UAE market before going full-fledged by opening a company, getting a Freelance Permit is an ideal choice. It is a type of self-employment visa as the Freelancer is all on his own when it comes to conducting business activities.

There are few Free Zones in UAE that offer Freelance Permits for various business activities. The Freelance Permit will be issued for a person and it won’t be a company. The Self Employment Visa will be available from the respective Free Zone for the entrepreneur. The Self Employment Visa will be for two years (renewable) sponsored by the respective Free Zone.

Using the Freelance Permit, the person can take up projects for the specified business activity in the permit. They can also apply for a UAE residence visa and sponsor dependents for 2 years which is renewable.

Some Free Zones in the UAE offer affordable Freelance Permits that freelancers can apply easily.

Freelance Permits from SHAMS free zone start at AED 5,740. Similarly, there are other Free Zones such as Ajman Free Zone, Umm Al Quwain Free Zone, etc., that offer Freelance Permits at an affordable free for entrepreneurs.

4. Golden Visa

UAE has announced full-fledged long-term visas for expatriates to continue their tenure and contribute to the economy by being in the UAE.

It is also aimed at retaining the best talent in the UAE and generating more business opportunities and business growth. The Long-term residence Visa is not tied up to an employee as the sponsor and the individual will have a 5 to 10-year visa in UAE that is subject to renewal.

The Golden Visa will enable significant foreign investment from global investors who are aiming to make Dubai their home for the long term and will boost the economic outlook.

The strategic industries of UAE such as tourism, real estate, commercial, etc., will get talented employees, more foreign investment, and achieve business growth through long-term golden visas.

5. Green Visa

To further strengthen the economy, create more job opportunities, and retain global talent in UAE, the Government has introduced the Green Visa. There are a lot of benefits in terms of visa rules such as:

• Staying in UAE without a job for 3 to 6 months
• Self-employed people can sponsor themselves and family without the need of an employer
• Sponsor parents and children up to the age of 25, and more.

The recent amendments in the UAE residence laws are for encouraging the expatriates to stay in the UAE and contribute more to the economy. UAE has launched numerous residence visas and other supportive programs for expatriates to easily live, work, and study in UAE along with the family.

6. Property Investment

The real estate market in UAE is very mature with numerous projects read to occupy in various prime locations of UAE.

UAE has a wide range of properties available ranging from affordable to luxury penthouses. With the long-term residence visa and property visas tied up to the property purchase in UAE, the real estate market in UAE is witnessing a major growth prospect.

As per latest update, any one who have purchased a property worth AED 2 million in Loan, Mortgage, or EMI can now apply for Golden Visa. There is no minimum down payment requirement of AED 1 million, the investor will receive a 10-year visa and be able to sponsor dependents too.

The investor must get an NOC from the Developer or the Bank and submit along with the few documents for processing their Golden Visa. Expert Business Consultants such as AURION will guide you through the process seamlessly.

To know more read: Property Visa in UAE

7. Employment Visa

Getting employed in the UAE will entitle you to a UAE resident visa under the sponsorship of the employer. For a first-time visitor to UAE getting on employment, the pathway is ideal to get UAE market experience and later venture into setting up a company for themselves.

Along with the above-stated residence visa, under the new development plan and promoting ex-pat living in UAE, there are retirement visa, special work permits for teenagers, residence visa extensions for widowers for up to 1 year, employment visas holding up to 6months, and more.

The Job Loss Insurance scheme is a new scheme launched by the UAE Government to support the employees incase of a job loss. It is an insurance scheme where a very nominal premium is paid by the employee monthly to the insurance scheme, and they can avail of the benefits during an instance of job loss.

What is UID Number?

The unified Number (UID) is a 6-digit code that can be found on the entry stamp on the last page of the passport or on the visa sticker. Without a UID Number, one cannot complete the application for Emirates ID.

A UID number is a 9-15 digit unique number that gets assigned to a visitor or tourist or resident. The UID numbers are issued by the General Directory of Residency and Foreign Affairs (GDRFA). UID remains the same even if you change your visa or status from tourist to resident.

It is a permanent unified identity number. UID is located on the visa page right above the file number. Many expats are not aware of the codes and numbers on their residence visa page

How to Check UID Number Online?

UID numbers can be verified online by visiting the GDRFA website. From the home page click on e-Services and click on ‘Find my UID’.

Provide the passport number, nationality, date of birth, and other information required, and click on the submit button. The webpage will provide you with the UID Number.

In case you are unable to obtain the UID Number online, visit the GDRFA main center in Al Jaflilya, Bur Dubai, or Dubai International Airport Terminal 3. They can issue the UID number for you after reviewing the request.

How to Merge UID Numbers?

There could be instances where one applicant will be having multiple UID numbers. It is mostly caused due to system errors but could affect your resident visa processing.

Hence, in such cases, the multiple UIDs must be merged into a single UID Number by raising the request for the merging. It will clear the immigration records and only one UID will be active for the applicant.

Follow the below steps to merge the UID numbers

• Visit the immigration office in UAE – GDRFA – Al Jafliya, Bur Dubai
• Submit the required documents – Passport copy, entry visa copy ( if any)
• Old, expired, or canceled visa page in passport and copies – for reference purposes
• After submitting the documents for review, the authorities at GDRFA will provide you with the updated UID number that you can use for your new residence visa application, Emirates ID, etc.

So in conclusion, UAE is becoming a family-friendly and expat-friendly location with ample facilities and infrastructure to power businesses of any scale and retain global talent within UAE and boost growth prospects.

To know more about UAE Residence visas and the process of applying, talk to our expert business consultants right away!

The post How to Apply for Residence Visa in UAE – Types of UAE Residence Visa Explained appeared first on AURION.

The long term residence visa enables talented individuals to contribute more towards society and thereby support the economic growth in the region.

New Amendments to Golden Visa

Golden Visa is targeted towards the foreign investors and expatriate population living in UAE currently. It enables ex-pats to live, work and study in the country without the need of a national sponsor.

The golden visa eligibility is extended towards managers, CEOs, specialists in science, engineering, health, education, business management, and technology professionals.

The visa application process is simplified for highly skilled and specialized residents, investors, entrepreneurs, scientists, pioneers, leading students, and graduates. These visas are valid for a period of 5 or 10 years and are renewed automatically.

New UAE Residence Visa Reforms

Following are the Residence Reforms added along with Golden Visa amendments in the recent UAE Cabinet decision by the Government.

• Business trip permits extension from 3 to 6 months
• Parents Sponsorship under the visa of direct family members
• One-year residency extension for humanitarian cases
• Extensions of children’s age limit on parent’s residency from 18 to 25 years
• Extension of grace period to exit the country after a job loss or retirement from 30 to 90-180days

Green Visa and Freelance Visa

UAE has also announced a Green Visa that expands the self-residence status to investors, entrepreneurs, highly skilled individuals, top students, and graduates.

Also, there is a freelancer visa for self-employed workers based in UAE and overseas specialized fields such as artificial intelligence, blockchain, and digital currencies, etc.

All the latest residence visa amendments are aimed at retaining the best talents in UAE and inviting new ex-pats to the country. UAE is transforming itself into a competitive business and family destination to invite foreign investors to settle in the region.

UAE through the latest initiatives is creating a sense of stability and security for the residence, strengthen the labor market, facilitate sector growth and skill development of individuals present here in the country.

Long-term Residence Visas in the UAE

The UAE Government launched the Long Term Residence Visa for residents and foreign investors to extend their living in the UAE and contribute actively to the growing economy.

The Long-term Residence Visas will be issued for 5 or 10 years and will be renewed automatically.

Eligibility for a 10-year Visa without a Sponsor

For a 10-year Residence Visa in the UAE, there are the following categories.

1. Investors with Public Investments of at least AED 10 million

The investment can be of any form below:

• A deposit of at least AED 10 million in an investment fund inside the country
• Company Formation in the UAE with a capital of not less than AED 10 million.
• Partnering in an existing or a new company with a share value of not less than AED 10 million

The investor must have a total investment of not less than AED 10 million in the above areas. Also, on condition of having more than 60% of the total investment in sectors other than real estate.

Criteria for the Visa Application Processing

• The amount invested must not be in the form of any loans
• The investment should be retained for at least 3 years.
• There should be financial solvency up to AED 10 million

Visa can be extended to include business partners, provided each partner contributes to AED 10 million. The Long term visa can also cover spouse, children and one executive director and one advisor of the company.

To initiate the process of long-term visa and company formation in the UAE, the investors can apply for a multiple-entry permit for a 6-month tenure.

2. Individuals with Specialized Talents

Specialized talents and researchers in the field of science and knowledge are eligible for long-term visas. Professionals such as doctors, specialists, scientists, inventors, as well as creative individuals in art and culture can apply for the visa.

All the professionals must be having a specialized field of priority in the UAE.

Criteria for Processing the Visa Application

• A scientist must be accredited by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
• Creative individuals must have accreditation by the Ministry of Culture and Knowledge Development
• For inventors, there must be holders of patents approved by the Ministry of Economy and the patent must add value to the UAE’s economy.
• Inventors & Researchers must have their patents or scientific research published in a world-class journal
• Executives must be highly qualified in academics and must be part of an internationally recognized company.

Doctors and specialists must be fulfilling at least 2 of the following conditions

• Ph.D. degree from one of the top 500 universities in the world
• An award or certificates of appreciation in the field of the applicant’s work
• Contribution to major scientific research in their domain
• Published articles or scientific books in renowned publications
• Membership in an organization related to their domain
• 10 years of professional experience in the domain with a Ph.D. degree. The domain must be in the areas of priority to the UAE.

Eligibility for a Golden Visa without requiring a Sponsor

1. Investing in a Property in the UAE – 10 Year Golden Visa

New Update: As per the latest update, for the Golden Visa (10 Year Residence Visa), there is no requirement of AED 1 Million Down payment for the property that is valued at AED 2 Million.

So, investors who have started the process of Property Purchase through Loan, Mortgage, Easy Monthly Installment, are now eligible for Golden Visa. Connect with our expert team to know more.

2. Entrepreneurs Five Year Visa

Entrepreneurs having an existing project with a minimum capital of AED 500,000 or those who have the approval of an accredited business incubator in the country.

The entrepreneur is eligible for a multiple entry visa for 6 months, renewable for another 6 months. They have to do the processing of long-term visas within the tenure. The entrepreneur can sponsor dependents including spouses, children, a partner, and 3 executives.

3. Outstanding Students

Students with a minimum grade of 95 percent in public and private secondary schools. University students within and outside the country having a distinction or a GPA of at least 3.75 upon graduation. The students are eligible to sponsor their families under the visa.

How to Apply for Long Term Residence Visas in the UAE

For the foreign investors, students, and academicians to start the long-term residence visa process, they can visit UAE on a Multiple-Entry Visit Visa valid up to 6 months (extendable to 6 months more).

Multiple Entry Visa – 6 Months for the Investors (New Visa)

Visa Application Steps Overview

• Submission of the application through the system (E-channel)
• Receive the application by the employee
• Checking the request. In case of errors, will be rejected
• Receive the Gold Visa Permit

Documents Required

• Dependent passport and color photo
• Bank letter as proof of Deposit
• 3-year bank deposit of AED 10 Million
• Attested Company Establishment Contract (Share of AED 10 Million proof or 6 Million if there is another real-estate investment of worth AED 6 Million)
• Certified Financial Auditing Company Report (Proof for the investments are not loaned or mortgaged)
• Real estate registration department (Proof that the real estate is not loaned or mortgaged)

For entrepreneurs, students and Special talents the process is similar to the investors, there is no requirement to furnish any investment or bank deposit.

They have to submit identity documents (passport copy, photo) and proof of long-term residency eligibility (employment contract, academic qualification, etc.)  

Long Term Residence Visa is an initiative launched by the Government of UAE to strengthen the economy and drive foreign investment and fresh talent across industry verticals.

The launch of Long Term Residence Visas in the UAE is in line with UAE’s long-term plans of diversification of the economy, technology advancements, entrepreneurship, and build a better tomorrow.

To know more about the Long Term Residence Visa, connect with the experts Business Consultants right away!

Contact: Aurion Business Consultants

The post Golden Card Visas in UAE – How to Apply for Long Term Residence Visa in UAE? appeared first on AURION.

With one of the busiest airports in the world and the largest man-made seaport in Dubai, the country is on a fast pace of development. It’s a wise decision for investors to set up a business headquarters in UAE as it is becoming a popular trade hub of the world.

Company Incorporation and Role of Business Consultants in UAE

Business Consultants in UAE assist the investors in the process of company incorporation in the region. There are various options in UAE for setting up a company. The 45 plus Free Zones in UAE offers more than 1000 business activities.

Hence, often the investor is confused when it comes to selecting the right option to establish their business. This is where the role of a Business Consultant becomes vital.

Also, the Business Consultants in UAE will ensure investors the right company registration process. The company in UAE must be set up the right way and comply with all the company laws and regulations.

For entrepreneurs who are new to business setup in UAE will be overwhelmed by the process of applying for clearances, getting approvals, applying for a residence visa, bank account, etc.

In such instances, getting assistance from an expert Business Consultant will help entrepreneurs to easily kick start their business journey.

How Business Consultants help an entrepreneur in Setting up a Company in UAE?

The role of Business Consultants in the process of setting up a company in the UAE is crucial. They help the entrepreneurs in many ways. Here are some of the key areas where consultants will handle it efficiently.

Hiring a business consultant to establish a company in the UAE allows investors to grow and add more value to their organizations. The best part of hiring a business consultant is that they can assist with developing growth-oriented strategies and have a plethora of experience in establishing a company.

In that regard, AURION can help investors establish their company in UAE with expert knowledge and all the crucial information regarding procedures to start a company in the UAE.

1. Result-driven Expert Advice

Starting a business requires a lot of knowledge and experience to make it hassle-free. Furthermore, investors may not have enough information to start it themselves. Sometimes, they may even miss out on certain facts and then have issues with establishing their company.

That’s where the role of business consultants comes in. They help investors effectively establish the business since they have a solid perspective of the local market and the competitors.

Furthermore, they can also guide investors through the benefits and risks of the business they are trying to establish.

2. Efficient Handling of Legal Matters

As the UAE legal system is the backbone for starting a business in the UAE, it’s crucial to comply with all the legal procedures. Whether investors want to opt for mainland, offshore, or free zones for opening a company, each has its regulatory authority.

Hiring a business consultant means they will also inform and guide about the laws applicable to companies, establishments, and employees in UAE.

Furthermore, they will educate about all the legal requirements and formalities, allowing them to carry out the business setup process smoothly. Not only that, but they can also help with the risks and options available while setting up a business.

3. Better Understanding of Business Jurisdictions

The UAE has different business jurisdictions with different rules, regulations, and laws. Investors need to comply with all these, which require professional assistance.

Furthermore, if these rules aren’t taken care of correctly, there may be certain penalties. A business consultant helps investors understand the legal structure and provide valuable advice.

1. Company Formation Application

Submitting the application form with the supporting documents is the first step in company formation.

The Business Consultants will provide accurate information on the latest business setup packages of various Free Trade Zones in UAE and the mainland packages to the investor. 

Depending on the business requirements and preferences of the investor, the business consultants will proceed with the right choice.

2. Choosing the Business Type

Based on the number of shareholders, nature of business, the business type must be chosen. In Free Zone, there are two major business types FZE (Single Owner Company) and FZC (Two or more Shareholders).

Few Free Zones in UAE have Free Zone -LLC (Limited Liability Company) business type and Dual Licenses. Expert Business Consultants will provide ample information about the various business license types with the investors and proceeds with their selection accordingly.

Also, depending on the nature of the business activity the type of business license must be chosen. Businesses in UAE are categorized into commercial (Trading, General Trading), industrial (manufacturing), services, eCommerce, etc.

3. Choosing the Office Type

Choosing the office space is an important step in the company formation process. The Business Consultants will ensure the perfect office space depending on your business requirements.

The Free Zones in UAE offer customized office spaces on their premises. Free Zone Companies will have to choose an office within the Free Zone. To move to the mainland, the company must be having a registered branch office.

Free Zones in UAE have various office types ranging from Flexi-Desks and shared Office Spaces to executive Offices with fully customized interiors (25 sq.m, 50 sq.m). Also, there are warehouses and light manufacturing units that are ideal for small-scale manufacturing industries.

4. Obtaining Clearance and Approvals

Based on the business activity chosen by the investor, there is a requirement for special approvals from the Government Departments, municipalities, and other Government Authorities.

For example, aviation companies to start their business operations, require the approval from Civil Aviation Authority in UAE. Similarly, all construction Contacts in Dubai must be approved by the Municipality of Dubai. Business Consultants will help investors in obtaining the clearances on time to ensure smooth business operations.

5. Obtaining the Business License

The business license is obtained from the respective Free Zones upon submitting the required documents of the shareholders, the approvals, and the fee.

The Business Consultants will handle the whole process of company formation in UAE across various Free Zones and the mainland. The investors can focus on their core business strategy while the administrative work will be taken up by the Business Consultants.

6. Assessment of Costs for Business Setup

Investors can incur high costs while establishing a company in the UAE if it’s not directed properly. The cost can include business setup assistance, visa attainment, liquidity & sponsorship services, or business support.

In addition, the business jurisdictions in the UAE have their legal processes, laws, documentation, office space structure, etc. All these have different types of costs. Depending on all these, only the registration can cost you around 9000-15,000 AED.

However, one may not be aware of all the costs that may come up at each stage. In the end, investors may have to expend more than they calculated just because they were unaware of a certain type of cost. Business consultants ensure that it doesn’t happen. They can help investors with an exact assessment of the business setup costs.

7. Compliance Process for Business Operation

The business compliance in UAE is tighter with the newly amended Economic Substance Regulation and Ultimate Beneficiary Ownership Declaration, Anti Money Laundering declaration, VAT Registration, etc.

Hence, all new and existing businesses registered and operating in UAE must file for all of the above compliances. This is where Business Consultants will be helpful.

They will assist and coordinate the filing process and maintaining the deadlines and taking action at the right time. UAE Government has strict regulations and fines for the defaulters, hence companies must be well aware of the compliances and the after-effects of violations.

8. Business Support Services

Business Consultants provides a host of Business Support Services such as Resident Visa Processing, Bank Account Opening Assistance, customs registration, document attestation, document delivery, driving license, and more. Clients can use the services on the go depending on the requirements.

9. Company Closing

Company Closing procedures are very structured and a mandatory process in UAE. Investors must follow the company closing procedures and settle all dues of the company.

For the investor to return to UAE on a later day or start a new business here, the termination of the existing company the right way is essential. Business Consultants will help in closing the company the right way by following all the procedures and getting all the required clearances.

Hence, in a nutshell, Business Consultants form an integral part of the business setup ecosystem in the UAE. Business Consultants, Free Zones of UAE, and other Government entities all make up the business setup ecosystem in the region.

To know more about the Company Formation Process in UAE, talk to our expert business consultants right away!

Contact Us: Aurion Business Consultants

The post Why Choose a Business Consultant in UAE for Company Setup? appeared first on AURION.

Driven by the demand for IT Services in UAE; start-ups and entrepreneurs are obtaining IT services company licenses to offer specialized IT Services for organizations in UAE.

The growth of IT related business attracts global investors to UAE. Especially with the pandemic, the demand for IT services in organizations has gone up tremendously.

To stay competitive in the digital world, IT services have a vital role to play. IT provides the perfect infrastructure and platforms for the organization to grow digitally.

How to Open an IT Services Company in UAE?

Opening an IT Services company in UAE is a straightforward process. There are ample choices for entrepreneurs in UAE to start an IT-based business.

To keep the business setup cost low, the Free Zones in UAE are the ideal choice. They offer world-class facilities and amenities along with an IT Service license all at an affordable business setup package with visa quotas to hire employees.

An expert Business Consultant will assist you in the process of obtaining an IT service license, and UAE residence visa application submission. They will ensure you have a seamless business setup and continued business operations by getting all the paperwork and clearance approved.

Steps in Setting Up an IT Services Company in UAE?

To establish an IT Services Company in UAE, the first step is to get the trade name approval. A suitable name must be registered for the company with the respective Free Zone authority. Following are the steps involved in setting up an IT Services Company in the UAE.

• Choose the right business activities and the company structure depending on the number of shareholders. Prepare the shareholder agreement and memorandum of association with the respective Free Zone.
• Submit the required documents to the Free Zone authority and pay the required business license fee.
• Choose the right office space for your IT business based on the budget. Get the tenancy contract for the office space from the free zone.
• Proceed to obtain the investor visa and get it stamped on the passport. Now you can legally start business operations from the newly registered IT company.

Top Free Zones in UAE offering IT Services License

The Free Zones in UAE offer exclusive discount offers for investors aiming to establish an IT business in UAE.

There are few Free Zones offering the perfect infrastructure and business support services for entrepreneurs to start their IT Services business in UAE.

1. Dubai Airport Free Zone

Dubai Airport Free Zone is one of the premium choices for every entrepreneur in Dubai. Get the prestigious Dubai Address and set up your company in the top-rated Free Zone in the world.

Situated adjacent to the Dubai International Airport, it is a perfect choice for IT service companies to invite and conduct meetings with clients who are always on the go.

The Free Zone offers attractive business setup packages with a shared office, Flexi Desk, executive office, etc., and business infrastructure that is conducive to IT services business.

2. Dubai Technology Entrepreneur Centre

The Dubai Technology Entrepreneur Centre is a perfect Launchpad for IT services companies, start-ups, freelancers, and entrepreneurs to start any IT-related business ventures.

DTEC offers ample business infrastructure such as a testing laboratory, meeting rooms, conference rooms, cafes, office spaces, business support services, and more.

This free zone has a well-built ecosystem to support IT companies’ growth and expansion of the business communities.

There are a host of business activities under the IT service license in DTEC that investors can venture into at affordable business setup fees.

To know more, read: Start a Company in DTEC

3. Dubai Silicon Oasis IFZA

Dubai Silicon Oasis IFZA is another popular Free Zone for IT Services in Dubai. The Free Zone has dedicated amenities for supporting IT Service companies and entrepreneurs to test the software products.

Also, it provides access to start-up accelerators where entrepreneurs can secure funding for their projects subject to approvals.

There is a robust IT start-up community growing in the IFZA Free Zone. IFZA offers one of the low-cost Business Setup Packages for IT Companies in Dubai.

There are a variety of Office spaces available ranging from shared desks to fully furnished offices, and other facilities to support IT Service businesses to easily grow in the region and beyond.

4. Sharjah Media City

Sharjah Media City is a dynamic Free Zone in the Emirate of Sharjah offering a wide range of business license types for IT Companies.

IT Services are one of the most sought-after business activities among start-ups to meet the growing demand from organizations in the UAE.

Sharjah Media City provides office facilities, conference halls, meeting rooms, shared work areas, etc., for IT start-ups to easily scale up their business at lower business setup fees.

Contact us now to get an IT Services business License in Sharjah Media City Free Zone.

5. Sharjah Publishing City

The Sharjah Publishing City is the newest Free Zone in Sharjah. Located near the Sheikh Mohammed Bin Zayed Road, and near the Sharjah International Airport, the Free Zone is a perfect choice for start-ups and entrepreneurs to easily start an IT company at the lowest setup cost.

The highlight of the Free Zone is the Dual License issued for the investors and getting the investor visa stamped to the passport in the shortest time. Dual License allows Free Zone companies to expand beyond the Free Zones and strengthen their presence in the mainland of UAE.

Hence, for start-ups and investors looking for an easy IT business setup in a hassle-free way and obtaining an investor visa at the earliest; SPC Free Zone is the right choice.

To know more about the procedures of opening an IT Service Company in UAE or a Software Development Company in Dubai, talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

The post IT Company License in UAE – How to Start an IT Services Company in UAE? appeared first on AURION.

UAE tops the list of ‘Ease of Doing Business in the Middle East region and offers a variety of low-cost company license packages for investors to choose from. The Business Amendment Laws in UAE aims at providing entrepreneurs a friendly ecosystem to easily do business in the country.

The article covers a list of the latest business amendment laws in UAE that an entrepreneur must know for conducting smooth business operations. To avoid fines and do business legally, there are certain business laws the investor have to adhere.

Following are few of the Business Law Amendments in UAE that every entrepreneur must know for operating a business in the country.

Business Laws Amendments for Entrepreneurs in UAE

To streamline and create transparency in the business world over the years UAE has introduced a series of transformational business law amendments.

Safeguarding the interest of investors is the topmost priority in UAE and the changes are reflecting positive sentiments in the market of UAE being the safest and most robust business center in the world.

List of Recent Business Amendments for Entrepreneurs

Here is a list of a few business amendments that every entrepreneur in the UAE must be aware of and comply with.

These amendments are aimed at promoting economic activities more effectively and helping global investors to easily set up companies and scale up their establishments quicker in the region.

1. Stimulus Packages and Incentives

The Stimulus Package and Incentives were provided to businesses in the UAE during the pandemic period. When globally there was a slowdown in trade, employment, and business growth, the Stimulus Package from the UAE Central Bank and the Government saved ailing companies in the region.

Stimulus Package and Investor Confidence

The issuance of the stimulus package in the UAE has raised investor confidence and the new company registrations in UAE are at an all-time high.

The Dubai Government launched an AED 1.5 billion economic stimulus package for supporting the business affected by the pandemic.

From rent relief to interest-free loans and payment deferrals, the UAE government is in-game with boosting the business scenario in the region.

2. Foreign Direct Investment on Key Sectors

With 100% foreign ownership in onshore companies in the mainland of UAE to reducing the minimum share capital to set up a mainland company in UAE for foreign investors. The 100% expatriate ownership in mainland came in as a major business law amendment in UAE.

UAE is offering several options for opening a business in the region for foreign investors. It is focusing on building a transparent and robust business ecosystem for the investor to do business in the region.

The Free Zones in UAE are a major driving force to foreign direct investment in the form of opening new companies in the UAE and strengthening the economic activities.

3. Economic Substance Regulation

The Economic Substance Regulation is a policy launched in UAE to ensure the companies operating in UAE comply with the international tax laws. The ESR is also another major Business Law Amendment that all companies under the ‘Relevant Activities’ must adhere to the ESR Filing and Regulations.

ESR states that any business entity in the UAE onshore and Free Zone companies and other business forms that carry out any of the ‘Relevant Activities; listed in the regulatory framework must maintain an adequate ‘economic presence’ in the UAE.

ESR Regulations are aimed at creating transparency in the market and a strategic move towards Anti-Money Laundering and Combating the Financing of Terrorism and illegal organizations.

4. Ultimate Beneficiary Owners

Ultimate Beneficiary Owner (UBO) is a natural person who owns more than 25% of a company shares registered in UAE. UBO Registration is another latest business law amendment that all companies operating in UAE must adhere with to avoid any compliance issues.

All details of the shareholders are now to be included along with the ESR Documentation. It is aimed at creating transparency and reduce illegal transactions.

Hence the declaration of Ultimate Beneficial Owner helps in establishing an effective regulatory mechanism and procedure for stating the ownership details of the company operating in UAE with the Ministry of Finance.

5. Know Your Customer (KYC) Norms for Opening Corporate Bank Account

UAE has a well-secured network of international and local banks UAE. Recently with the impact of the Pandemic, business lending and day-to-day transactions have had a significant impact across every bank globally.

Banks in UAE are highly supportive of the business sector with business incentives such as loan deferrals, banking charge waive-offs, attractive financial solutions, easy bank accounting openings, and more.

There is strict KYC Compliance in all UAE Banks for opening a corporate bank account. They require a bank statement (from the previous bank), a robust business model, and an investor profile to review.

6. VAT Registration and Filing

The Value Added Tax in UAE applies to all consumer and commercial transactions in the region at a rate of 5 %. There are certain criteria for registering the VAT. Companies must be aware of the VAT rules in UAE for smooth operations of their business.

The Federal Tax Authority is the governing body for overseeing VAT compliance, regulations, and the VAT regime in the UAE. For small businesses, entrepreneurs, and freelancers it is not mandatory to file until they have not reached the VAT Threshold.

VAT Registration Compliance to Follow

VAT registration is mandatory for companies that have an annual turnover of AED 375,000. Companies that get VAT-registered benefits can opt for voluntary registration for VAT even though the annual turnover is less than AED 375,000.

Those companies registered for VAT must submit the VAT Returns periodically. Also, file for any VAT refund for business supplies, maintain the VAT record, and pay the due to FTA accordingly.

To know more, read: VAT Registration in UAE

Legal Documents every Entrepreneur must be having in UAE

A new business in UAE must have a strong legal structure and disciplined operations to successfully scale up and achieve sustainability. The company while registering in UAE will receive the Trade License where the mention of the list of business activities chosen will be present.

Also, the Trade License will have the shareholder information, date of company incorporation and expiry date. Another important document is the Memorandum and Article of Association. It states the terms and conditions and rules relevant to the company operations.

Having all the company documents in place enable the business to protect their investment and intellectual property of the business.

An investor or a company must always have their establishment card valid for applying the employee visas as required.

Employee and Company Documents that Must be Available Handy

The next key document is the Non-Disclosure Agreement, employee contracts, and offer letters to keep the employees, and supplier relationship strong.

Then comes the requirement of documentation like the company trade secrets such as trademark registration certificates for the marketing assets, Intellectual Property rights for new products/applications, etc.

Hence, in a nutshell, there are numerous business law amendments in UAE that the investor must closely follow.

All the latest amendments in the Ultimate Beneficiary Ownership, Economic Substance Regulation, VAT Registration, and is having a significant effect on the current businesses that are operating in the country.

To know more about the process and documents required for company formation in UAE, talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

The post Latest Business Amendment Laws in UAE for Entrepreneurs to Follow appeared first on AURION.

Growing Demand for Web & App Development Companies

The demand for Web Development in UAE is growing steadfast with a lot of companies in the UAE looking for a technology and marketing partner for developing and promoting their app.

Two business jurisdiction to choose for setting up the Web Development company in UAE is the Free Zone and Mainland.

There are dedicated Free Zones in Dubai that offer customized company setup package for app development companies.

Free Zones of UAE offers a perfect ecosystem for tech and marketing companies to launch their services easily in a cost-effective way.

Free Zones Business License for Web & App Development Services

Dubai Airport Free Zone

The Dubai Airport Free Zone is the most prestigious and top-class Free Zone in UAE. Global Multi-National Companies (MNCs) and top Small & Medium Companies (SMEs) have their Head Quarters in DAFZA.

DAFZA offers competitive company setup packages with a wide range of business activities in all business categories.

Specifically, for App & Website Development, there is an IT Service License and a wide selection of office types – Shared, Flexi-Desk, Executive Office, and more.

Check out the latest Company Setup Packages from DAFZA here.

More Free Zones Providing IT Service License in UAE

In UAE, there are other Free Zones such as the Dubai Silicon Oasis, Dubai Entrepreneur and Technology Campus, IFZA Dubai, Sharjah Media City, that offer specific business licenses in IT services.

All these Free Zones have Company Setup Packages at competitive prices. They also have a world-class business infrastructure and ecosystem to support your App Development Company.

Expert Business Consultants at Aurion will assess your business requirement precisely and suggest to you the right free zone to set up your company.

9 Things to Know for Starting an App Development Company

The Mobile App development market is in a growth phase currently with companies across industry sectors aiming to digitize their services and tap into new markets.

In modern times, a new mobile application must have a great design, usability, and engaging enough to be used by the audience. Also, for the profitability of the overall venture, here are few things to consider.

Checklist for App Development Company to Follow

There is an umpteen number of small and large App Development Companies around, to stand out from the competition, follow the below checklist.

As an App Development Company, the team must be equipped in providing the clients with a comprehensive solution and not just develop an app.

The business implication and profitability of the App must be assessed before you begin a project. It must be done at the consulting level to avoid any misalignment at a future stage.

These are the Must-Haves before signing up for a project for the successful implementation of a Mobile App.

1. Product Ideation

Before beginning the App Development, the ideation of the final product and the timelines must be decided.

Also, the conceptualization, feasibility, resource requirements must be assessed in detail for the successful completion and shipping it out to the market on time.

2. Market Research

Conduct Market Research and identify the market response and need for an application. The objective of the Mobile App must be clear.

Also identifying the right target audience is essential for the app to receive the desired attention and downloads. 

3. Technical Specification

Decide on the technical requirements, platforms- iOS, Android, windows; and the technology with which the app is to be built.

All these technical specifications are helpful in the later stages of app development, maintenance, and distribution of the app.

4. On-board the Right Team

Getting the right talent is crucial in the overall success of the Mobile App. You would require designers, programmers, marketing professionals, etc., to collectively contribute to the development of the application.

5. Define the Business Plan

Create a robust business plan for the client involving the stages of the app development and financial projections on how profitable the app would be.

Not every app is built for profitability, it might be acting as a vital resource or a support system for the clients.

Structure of the business plan with all relevant details about the lifecycle, objectives, monetization plans, and other action items.

6. Build the App Prototype

Before launching the final app, create a fully functional prototype and share it with the target audience sample.

This will help in gathering feedback from the users about the functionality. Analyze the feedback and implement the changes and launch the final version.

7. Identify Monetization Methods

If the client’s objective is for monetizing the app, suggest various options available – Free Apps, Paid (Premium Services), In-App purchase, Subscription Model, Sponsorships, etc.

8. Explore Marketing Opportunities

Devise marketing strategies to successfully promote the app usage and download rates. This is where the branding, PR, outreach, collaboration, enhance web presence, etc. comes into action.

9. Provide Frequent Updates

Once the Mobile App is live offer regular updates of the App with any bug fixes, security features, enhancements, etc.

It will help in the overall enhancement of the app and gain more reputation among clients as a trusted App Development Company

To know more about opening an App Development Company in Dubai talk to our expert business consultants right away!

Contact Us: Aurion Business Consultants

The post Start a Website & App Development Company in UAE – Options Available appeared first on AURION.

In Dubai, the most common and in-demand businesses always are Restaurants, Real estate, and car rentals. It is mainly due to the large ex-pat population here who have relocated for jobs from their home country.

Hence, there are immense opportunities for businesses while catering to the basic requirements of the Expat population in the UAE.

Type of Industry Sectors for Setting Up a Company in UAE

With growing digital adoption and internet penetration in the region, there are certain booming businesses in the digital space like eCommerce, Edu-Tech, Digital Marketing Agencies, etc.

Then there are Essential & Lifestyle Services businesses that receive great traction and demand which are Cleaning Services, Logistics Services, Technical Services, Equipment Leasing, etc.

Setting up an innovative business establishment in such niche areas will help achieve Significant market growth and stability easily as there would be very limited competition among the niche.

Let have a detailed look at each of the niche segments. The list is not exhaustive. There are numerous innovative business ideas and niche segments in Dubai that provide immense business opportunities and have a growing demand requirement from the consumers in the region.

Business Opportunities meeting Basic Consumer Needs

1. Restaurant

The Food and Beverages Segment in UAE is highly fragmented and includes a wide range of offerings starting from roadside stalls to 7-star hotels. So, identifying a niche with significant demand is important to succeed in the restaurant business. Dubai is home to more than 200 nationalities.

Hence, there is a sure shot demand for native cuisines of all these nationalities. Setting up a hotel that serves authentic cuisines of a specific national would make you stand out from the competition.

Things to Know for Setting Up a Restaurant in the UAE

Important aspects to consider here are the following:

1. There are certain Approvals from the Food Safety Department, Dubai Municipality for the floor space

3. Get the required Food Safety Certificates – ISO 20000:2018, HACCP, HALAL, etc.,

4. Choose the location close to a residential, office, or easily accessible tourist location, have ample parking facility, etc.

5. Finalize on the Space required and get the Tenancy Contract

5. Get all the kitchen equipment from trusted partners, with approved quality checks

6. Submit the documents to the Department of Economic Development (DED) to obtain the Restaurant License.

7. Choose the right company structure (LLC Company /Professional License) depending on the number of Shareholders.

Prepare the Shareholding Agreement accordingly and submit to the DED along with other documents and fee for obtaining the restaurant license.

2. Real Estate

The Real Estate sector is always an on-demand business in Dubai due to the growing demand from the ex-pat population and foreign investors.

There are various subcategories in real estate where you can start a company like the real estate agency, real estate brokerage, real estate funding & investment, real estate development, real estate consultancy, and more.

Though the real estate market like all other sectors is witnessing a downturn due to the Pandemic, the overall demand for businesses in this field is never going to lower. Property Management Companies are always in demand for providing property deals and real estate information to consumers intending to find new apartments in UAE.

3. Car Rentals

Car Rentals in Dubai are yet another essential service for foreigners, tourists, and the ex-pat population. Most of the residents in the UAE are short term residents or are here for less than five years.

Car Rentals are the most convenient option for the ex-pat population as they can avoid the risk of owning a depreciating asset and the allied costs of registration, renewals, and insurance.

The Car Rental business is lucrative in the UAE. However, there is a relatively significant investment (when considering the cost of the fleet – mostly leased). There is a requirement of having a physical office (150 Sq.m) with a parking facility for cars.

Having an Online Platform to facilitate booking, a GPS tracking facility for car tracking, a service agreement with maintenance shops for repairs, insurance coverage, etc., are overheads to be considered. There is an approval (No Objection Certificate) from RTA required for setting up a car rental service in Dubai.

Business Opportunities in the Digital Sector in Dubai

With the growing digital adoption by consumers in UAE, there are numerous online-based businesses available now in the region. Ecommerce based businesses are the most common one seen in UAE that is on a rise in recent years.

Followed by eCommerce, is the Education Technology-based businesses that develop intelligent applications, video tutorials, online classes, etc., focused on children, college students, and professional training students.

Another most popular business category is the Digital Advertising and Marketing Agency that has grown over years in Dubai. These are relatively low-cost business setup where professionals in the field of Digital Marketing join together to start a company.

The major cost overhead here would be the skilled employee salary, technology platform investment, and digital resource availability for the employees.

Business Opportunities in the Essentials Services

The essential and lifestyle category in UAE is another high demand sector where there is a lot of business opportunities for new entrepreneurs. Under the essential services is the most popular one is the cleaning services and followed by logistics support services.

There is a huge demand from the residential and commercial establishments in the UAE for Cleaning Services. With most of the households run by working people, the availability of cleaning services is on a rise always.

Similarly, the organizations in the UAE require a Cleaning Service Management Company to handle the facility cleaning and maintenance periodically to keep the surrounding apt for business ambiance.

On the logistics Front, courier companies, document clearing services, document handling companies, consumer courier drop-offs services, etc., are in much demand always in the UAE. 

Also, for general trading companies in UAE having assistance for International Trade, providing financial support, a Letter of Credit, equipment leasing, etc., is a must-wanted service.

Hence, in a nutshell, there are a lot of niche business opportunities in UAE that entrepreneurs can tap into by setting up a Free Zone or Mainland Company in the UAE.

To know more about Business Opportunities in UAE, talk to our expert team right away!

Read more about “5 Strategic Industry Sectors Ideal for Foreign Direct Investment in the UAE“.

The post Industry Sectors in Dubai for Establishing Successful Businesses appeared first on AURION.

Cleaning Services License in UAE is gaining popularity as there is a growing demand for the service from newly constructions and existing large organizations. Also, the modern homes of the working class are also looking for professional cleaning companies for home cleaning requirements.

Cleaning Services Company in UAE – Demand from Residential and Commercial Consumers

Real Estate Analysts in the UAE estimate that almost 50000 new residential units are to be added to the property market in the year 2020. This will further raise the demands for cleaning services companies as there would be growing requirements for maintaining and carry out regular cleaning activities in these apartments.

On the corporate side, the demand is driven by large numbers of hotel apartments, hotels, office spaces, manufacturing facilities, hospitals, and many more. The Scope of Cleaning services Companies are extensive; It can be classified into specific services depending on the exact customer requirements.

Main Categories of Cleaning Services in UAE:

• Residential Apartments (Flats, Town Houses, Villas)
• Commercial Cleaning (Offices/Manufacturing/Hospitals)
• Industrial Cleaning (Equipment/Machinery)

Sub-Categories in Cleaning Services

Cleaning Services Companies can be categorized based on their exact business activity. Following are a few Sub-categories where Cleaning Services Companies facilitate their operations.

1. Streets Cleaning Services

There are special contracts for cleaning streets, footpaths, and markets by manual or mechanical tools. Dubai Municipality regulates the activity and the business license is subject to the approval of the Dubai Municipality.

2. Sea & Shore Cleaning Services – This activity enables companies to collect and dispose of marine waste and pollutants.

3. Building Cleaning Services – Residential, Government, and Professional premises

For example, Cleaning and maintaining huge office blocks such as the Dubai Airport Free Zone. It requires an administration team to handle the operations such as washing each floor, external glass cleaning, restroom & laundry cleaning, and more.

4. Advertising Signboards Cleaning – Cleaning of the large signboards fixed on streets and road cleaning.

5. Runways & Roads Cleaning Services – Manual and mechanical cleaning of runways and roads.

6. Yacht Cleaning Services – Yacht interior and exterior cleaning, polishing, restoration, brightening, interior cleaning, vinyl treatment, etc.

7. Car Cleaning License – Car Cleaning Service activity includes car wash using automatic or manual washing station activities.

How to Start a Residential Cleaning Services Company in Dubai?

To start a Residential Cleaning Services Company in Dubai, the business must register with the Department of Economic Development (DED) to obtain the required cleaning services license.

Based on the Shareholding pattern, the investor can decide on the company structure and license types. For Mainland Companies in UAE, there are two Business License categories that are right fit for the Cleaning Services Companies:

1. Professional License, or,

2. Commercial License

Alternatively, Cleaning Services License in UAE can be easily obtained from the Free Trade Zone also. However, for Cleaning companies aiming to employee a number of ground level staffs, take a warehouse, etc., mainland of UAE will be the right choice to keep the overall cost low and easily expand the market reach.

Professional License in Dubai – Things to Know

• 100% Ownership of your business
• Register as Sole Proprietorship or a Civil Company
• Appoint a UAE national as a Local Service Agent (LSA)

Commercial License in Dubai – Things to Know

• Must appoint a UAE national or Local Sponsor
• Local sponsors will own 51% of company shares and the rest 49% by the foreign investor
• The company will be registered as a Limited Liability Company

Documents Required for Setting Up a Cleaning Services Company in UAE

• Completed business application form for the Cleaning Services company setup
• Trade name for approval- 3 names
• Passport copies of shareholders
• Entry Stamp/Visa page/residence visa of the investor
• NOC from the current sponsor if the shareholder has a residence visa
• Any additional approval required if any

Step by Step Procedures: How to register a Cleaning Services Company in UAE

The Process of Registering the Cleaning Services Company with the Department of Economic Development (DED) is as follows:

• Choose the required business activity from the activity list
• Select the company structure (Sole Proprietor/ Civil Company/LLC Company)
• Get the tradename approval
• Get initial approval from the DED, Dubai.
• Prepare and sign the LSA Agreement (for Professional License) or the Memorandum of Association (MOA) for Commercial License
• Rent a physical office and submit the Tenancy Contract & Ejari. A mainland company must have a physical office as a mandatory requirement for obtaining a business license.
• Submit any additional approval if any
• Pay the fee and get the Business License

Things to Look for Before Setting Up a Cleaning Services Company in UAE

Cleaning Services Company Setup in Dubai is relatively easy but there are various costs and process to be in place to continue in business such as the following:

• Competition from other similar players
• Workforce requirements and logistics support
• Equipment and supplies
• Expertise in the Sub-Categories to expand business services

1. Highly Fragmented Market and Intense Competiton

The investor must be well aware of the market scenario in the UAE. The cleaning Services sector is a highly fragmented industry with a lot of small and large players intensifying the competition.

2. Large Office Space and Warehouse Facility Requirements for Cleaning Services Company

Cleaning companies would require heavy equipment, machinery, disinfectants, and related cleaning essentials in large volumes to cater to their clientele accordingly.

Hence, Investors have to account for huge upfront expenses and set up a support system to effectively procure, manage, and consume, the required essentials. It must achieve consistent profitability to continue business operations.

3. Heavy Investment and Operational Cost of Cleaning Service Company

The Cleaning Services business requires a lot of investment in logistics, essentials, labor, warehouse facility, office space, etc.

The operational costs are to be on a higher side always, investors must have a solid business plan to sustain the operations.

Why Choose Dubai Mainland for Setting Up Cleaning Services Company?

For Cleaning Services Company mainland company formation is the ideal choice than a Free Zone due to the requirement of region-wise operational flexibility and setting up branch offices anywhere in UAE.

1. Flexibility to Employee More Staff

Also, Cleaning Services is a heavy labor-intensive sector that requires employing a huge number of contract staff, in-house staff, part-time workers, etc.

So, for obtaining work-permits, applying for employee visas, gaining more visa quotas, a mainland company would be the right fit.

2. Easily Scale-up the Business Operations

There would be a requirement of having large office spaces or a warehouse to store the cleaning essentials and other required support systems. Again, locating an ideal warehouse would be more cost-effective in the mainland of Dubai.

3. Identify your Niche Area in Cleaning Services Sector

The scope of a Cleaning Services Company varies depending on the list of business activities that will be included in the business license while setting up the business.  

There is an all-time demand for various types of Cleaning Services in Dubai due to the ever-growing infrastructure and real estate investments in the region. So, investors can choose their niche area of cleaning services and set up their cleaning services company to scale up easily.

To know more about the procedures to open a Cleaning Services Company in the UAE, Connect with our expert Business Consultants right away!

Read more >> “How to Start a Manpower Supply Company in the UAE?“.

The post How to Start a Cleaning Services Company in UAE? – All Things to Know appeared first on AURION.

Free Zones create a perfect launchpad for entrepreneurs with world-class infrastructure. The country’s SME and eGovernance speed up company formation.

New Company Registrations are on a Spike

Cheaper company set-up costs, robust banking networks, access to a big pool of talent, etc., are driving more business registrations in the region.

Aspiring businessmen can easily form a start-up and test the market here. There are immense business opportunities in the region due to the strategic location, growing population, and huge volumes of trade activities.

Why Should You Setup Your Business in the UAE?

Here are a few reasons why you should Setup your Business in the UAE right away.

1. Easing Complexity

Company Formation can become quite a lengthy process with a long list of documentation, legal requirements, processing of resident visas, business license registrations, and so on. However, expert business consultants will ease the burden of the complexity of setting up the company in UAE.

Also, the UAE Government has introduced several initiatives to speed up the Company Formation process and to improve the ease of doing business in the region. UAE aims to facilitate entrepreneurs and foreign investors with cost-effective business packages based on their exact requirements.

2. Wide Range of Business Setup Package

There are umpteen opportunities available for start-ups or entrepreneurs in the UAE. The Free Zones offer attractive packages custom made for all business activities.

Depending on the investor’s business background, expertise, office requirements, nature of the business, budget, the Free Zones of UAE has tailor-made Company Setup options.

Low-Cost Company Formation Packages from Free Zones

Ranging from Zero visas to multiple visa quotas, unfurnished to fully furnished offices, warehouse facility, various business license types, you name it the free zones of UAE has it all.

It is advisable to have Expert business advice to ensure you make the right choice. Business Setup is a long term commitment, the setting up process must be done right by complying with UAE business laws and meeting all approvals and clearances.

3. Attractive Low-Cost Packages & Incentives to Promote Trade

It will ensure smooth business operations and achieve sustainability easily. With the onset of a pandemic, and to support the businesses and entrepreneurs, the Free Zones are launching cost-effective company setup packages at an all-time low fee.

Also, the Free Zones of UAE have launched stimulus packages, rent waivers, multi-year license packages, E-channel fee waivers, free lifetime residence visas, etc., to promote entrepreneurs, sustain trade and revive the economy faster.

4. Huge Pool of Talent Available

With the pandemic, a lot of experienced employees in the UAE have lost their jobs, there is a huge pool of talented and experienced workforce readily available in the country.

Businesses can take advantage of this workforce and scale up easily by expanding to new fields such as customer service, IT support, design, etc.

5. World-Class Infrastructure and robust Business Ecosystem

UAE has solid infrastructure support for the start-ups to flourish. The new regulatory frameworks, increased government support, funding support, banking, partnerships, etc., are driving the business setup in the region.

UAE has got the world-best business infrastructure to support start-up growth. Starting from co-working spaces, shared offices to startup accelerators, funding platforms, and software testing centers, etc.; every support system for business is available here.

6. Zero Taxation Policy

UAE has a Zero Taxation Policy as there is no Corporate or Income Tax. A 5% VAT is the only payable tax in the region.

For business and foreign investors from high tax paying countries, this is of great advantage to hedge their investments and profit returns from UAE business operations.

Tax Residency Certificate and Tax Savings

UAE residents can leverage the benefits of the Double Taxation Avoidance Agreement by applying for a Tax Residency Certificate and save tax in their home country. Also, the Free Zones of UAE has more business incentives, i.e. there are few VAT Free Zones, and doing business within these Zones is subjected to Zero VAT payments.

Similarly, any import to Free Zones is cleared off by Customs without paying the Customs Duty. Adding up all these, foreign investors prefer UAE Free Zones for setting up their business. Considering the present scenario, the company formation cost at all UAE Free Zones stands at an all-time low fee.

There is no better time than this to realize your dreams of setting up a company in UAE seamlessly at the lowest cost.

7. 100% Foreign Ownership

UAE Free Zones have a major advantage in terms of enabling 100% foreign ownership. It makes the Free Zones one of the most sought after jurisdiction among foreign investors.

Along with the 100% foreign ownership, there are umpteen other business benefits for the investor owning a Free Zone company, they are as follows:

• 100% profit repatriation and share capital transfer
• No customs duty for imports to the Free Zones
• Quick & Easy business setup
• Easy access to the Airports & Seaports of UAE
• Top-class infrastructure and amenities
• Customized office space and warehouse facilities
• Audit report requirement is optional to most of the Free Zones
• many more…

8. Exceptional Networking Opportunities

UAE has enormous networking opportunities for investors to find new connections. Business owners can gain a lot of insights by interacting with likeminded people. There are a lot of networking events, resource centers, knowledge hubs, etc., in UAE to support your entrepreneurial journey.

Thus, in a nutshell, UAE is constantly evolving and immense business opportunities are arising out here across various industry sectors. Going by the robust business ecosystem and future growth prospects on setting up your business in UAE, there is no other best time to start.

Get in touch with an expert Business Consultant like Aurion and turn your dream of forming a company into a reality quickly.

Read more about “What do new entrepreneurs/investors need to know about Company Setup in UAE“!

The post Why it is the Best Time to Start a Business in UAE? appeared first on AURION.

Also, there is immense growth potential in the country and the business landscape of UAE is quite promising with many businesses waiting to venture into several high-value projects.

The technological advancements are driving huge business growth in the region. Additionally, they open up new opportunities for many businesses in the feild of healthcare, aviation, shipping, tourism, and more.

So, here are few of the upcoming Industry Sectors in UAE for Foreign Direct Investment. These are industries are expected to be the future of UAE and drive growth.

1. Healthcare sector in UAE

The Healthcare sector in Dubai is going through a technology transformation with a key focus on research and development.

The healthcare and Pharma sectors in UAE have displayed a remarkable level of readiness in facing the Covid-19. The efficient way of tackling the patients at the hospital as well as the drive-in test centers helped UAE to contain the pandemic.

Growing Confidence in the UAE Healthcare Sector

Along with the efforts from the front line staff at health centers and the National Disaster & Recovery Unit, the national sterilization drive helped a long way in combating the virus in the UAE.

Also, the medical research facilities and healthcare infrastructure in the UAE are all set for tackling the virus. Furthermore, UAE has the support systems like ICU units, makeshift hospitals, ventilators, PPEs, and testing kits in place to keep things under control.

Investments in Healthcare and Pharma sector

In the UAE, government investments in healthcare accounted for around USD 15 billion in 2018. The private sector healthcare spending is set to grow at a CAGR of 9.5% from 2018 to 2022.

Similarly, Foreign Direct investments into healthcare, pharma, and medical equipment sectors over the past five years are seeing an enormous spike. Also, the FDI in this sector is having a valuation of about AED 3.82 Billion (2015-2020). So, the FDI investment, more healthcare services, medical equipment trading and manufacturing units will be set up in UAE.

So, Medical Research facilities and healthcare centers are given high priority by the UAE government. Also, it will help in elevating the medical standards of the region and convert UAE into a popular medical tourism destination in the Middle East.

2. Aviation Sector in the UAE

The Airports of UAE, especially Dubai Airport have become the prime infrastructure to power economic growth in the region. UAE is investing significantly in the aviation sector, with the state-owned Emirates Airlines and the airport infrastructure on the key focus.

Dubai is a strategic location and the airports and seaports facilitate trade and transfer of people between the east and west as well as the north and the south.

Airports Expansion, Technology Adoption, and Promoting Trade

The Airport expansions and equipping them with the newest technologies is a continuous and essential process. Additionally, to maintain a competitive advantage as a leading global aviation hub, UAE is investing heavily in the aviation sector.

So, efforts are focused on building the infrastructure for providing sufficient air space capacity to meet travel and Airline parking demand.

Airport Free Zones in the UAE Facilitating Trade and Supporting Economy

Additionally, investments are channelized for implementing essential technological advancements to facilitate smooth passenger and goods movement through the airports

With the opening of the new airport near Dubai South, the Al Maktoum International Airport. It has added additional capacity to handle the growing passenger traffic and space for halting aircraft. These free zones are also ideal for taking an Air Cargo Business License in UAE.

Aviation has been the heart of UAE’s economic transformation, the airport free zones are set up to promote business opportunities and seamless trade and business set up to support economic growth

3. Shipping Sector in UAE

Dubai is investing heavily in the shipping sector, with the Dubai Maritime City Authority and the Jebel Ali Port driving a significant volume of trade operations and managing international shipping lines.

The value of UAE’s investments in the ports and marine industries sector exceeded USD 66 billion between 2014 and 2017. The amount of cargo handled by UAE ports is increasing on a year-on-year basis and was worth USD 3.2 billion as of 2017.

Shipping is a Major Support System for Trade and Export Business in UAE

UAE plays an active role in bringing in significant foreign investment to the region and the shipping sector is one of the major lifelines to support the UAE economy. Dubai is in constant effort to connect aviation, shipping, and road transport to create a transport link that will help in seamlessly transporting goods across the UAE and overseas.

The free zones and mainland trading companies, warehouses, distributors, other logistic and freight forwarding and shipping companies are the ecosystems that make up the overall shipping and logistics network in UAE

4. Tourism Sector in UAE

As part of Dubai’s efforts to boost tourism and investment in the region, Dubai is setting up 50 regional offices across the world. An AED 1 billion fund and plans for subsidized housing for entrepreneurs are to be launched to target new areas of opportunity and move ahead with the non-oil dependent sectors.

Low-Cost Tourism Infrastructure and Entrepreneur Support

Also, build a future economy focused on low-cost tourism infrastructure. UAE is planning for building an economic research center, incubators, and accelerators and space for entrepreneurs in the tourism sector to grow their business.

Covid-19 has hit hard the tourism industry; however, it can be seen as a short-term slow down. Once the international borders are open and airlines start flying, the tourism sector will bounce back. Dubai has some of the world’s best hotels and travel destinations in the world.

Many tourism infrastructure projects are scheduled in the coming years. It includes the completion of hotels, hotel apartments, amusement parks, etc. Dubai is aiming to welcome the tourists in full-fledge once the pandemic situation eases and travel restrictions will be lifted.

5. Real Estate Sector in UAE

Real Estate sector is the face of Dubai. The property rental yields in Dubai are higher than the other popular financial markets such as New York, London, Singapore, and Hong Kong.

With a multitude of real estate projects completed such as the iconic Burj Khalifa, Dubai Mall, Dubai International Airport, Palm Jeremiah, and more, the city is in a continuous development phase. With the Government-funded infrastructure projects in line and more real estate project investments sanctioned, real estate investment in Dubai is one of the major support systems for the UAE economy.

The stable political situation in UAE, world-class lifestyle, business opportunities, tourism, and shopping areas make it a perfect choice for ex-pats to settle. Dubai has one of the world’s best luxury residential properties. Recently Dubai is also building districts that are focusing on affordable living too with attractive financing options.

The absence of a property tax makes it a lucrative choice when compared to other global destinations.

Most Attractive Real Estate Investment Options in UAE

• Purchasing a residential property in Dubai
• Purchasing a commercial property in a freehold mainland area and renting it out
• Buying commercial and hospitality facilities and taking the franchise for operating hotels and resorts
• Starting a real estate investment firm in the mainland or the free zones

Hence, in a nutshell, Dubai is an investment hotbed with a huge business opportunity across the core industry sectors as well as other niche sectors. Depending on your business expertise, and domain knowledge it is very easy to secure a business license and channel your investments in Dubai as per your interest.

To know more about the business opportunities, and resident visa via property investment, talk to our expert business consultants right away!

The post 5 Strategic Industry Sectors Ideal for Foreign Direct Investment in the UAE appeared first on AURION.