Freelance License in UAE can be obtained from the Free Trade Zones and the Dubai Economy. There are selected activities for which the Freelance License is available. The Freelance License cost starts from AED 5,750 for media related license in Sharjah Media City Free Zone.

In Dubai, the Freelance License cost around AED 8,500 for the 1 year license. Businesses in the region are experimenting with remote working possibilities. They are also focusing on efforts to reduce overheads and employment expenses.

Above all, many companies as part of cost-saving methods move to the Work-from-Home model. They are delegating projects to remote working staff and Freelancers

Remote Working – A New Trend

Remote work setup is becoming a mainstream of business operation globally. Presently, more than 80% of companies are resorting to the remote work environment to stay afloat in the turbulent market situations.

There is no requirement of huge office spaces for companies when employees are working from home. Hence, entrepreneurs can lower the overhead costs of maintaining an office space. Instead, they can hire freelancers with a valid Freelance License in UAE for projects.

Presently, remote working and Freelance license is becoming popular in UAE. Many entrepreneurs and companies are looking at various business models to sustain business growth. The remote working setup helps to enhance productivity and profitability with minimum expense.

Hence, these scale-able Remote Working Setups become investors’ favorite choices for setting up a company in UAE and growing the business eventually.

Remote Working Setup with the Potential to Easily Scale-Up

The Work-from-Home concept has given rise to a host of businesses that can scale up easily in the remote work environment. Following are the few business areas in focus:

1. Digital Marketing Consultancy

Digital Marketing is a key business area that is witnessing a positive growth rate presently.  As a result of companies and consumers remaining indoors, internet usage grew dramatically. Also, more people entered the world of digital communication.

Thus, there is an enormous opportunity to tap into a new audience group by leveraging digital channels. So, Digital Marketing Consultancies are in huge demand to share their expertise. They help brands to effectively reach out to the digital audience.

Setting Up a Digital Marketing Consultancy in UAE

Entrepreneurs can easily set up a digital marketing company in UAE. They can opt for a services license from the UAE Free Zones for an affordable fee.

So, to start the business with minimal investment, the entrepreneur can look for a freelance license or a company license with 1 visa quota. Then eventually expand to a full-fledged digital marketing consultancy.

To keep the overall company setup cost and overhead cost low, entrepreneurs can look for flexible-desk space or shared workspace. Subsequently, for executing digital services a huge office space is not an essential requirement.

One requires a good laptop and internet connectivity to execute digital projects for clients. All client meetings can be arranged on-premises or in any convenient location. So, digital marketing consultancy is the best choice for remote working.

Check out the latest UAE Free Zone offers here: Cheapest Free Zone in UAE

2. Freelance Marketing Consultants

Freelance Marketing Consultants are the next most in-demand professionals globally. Many companies are currently looking for resources to coordinate marketing activities and gain a strong online and offline presence.

Marketing Consultants have a key role in promoting the brand image and reach for the product & service of a company. So, entrepreneurs can take a Freelance License from any of the Free Trade Zones in UAE. They can easily start a marketing consultancy through a remote work setup.

How do Marketing Consultants help Companies?

Effective strategies are implemented using marketing expertise and the results are tracked. It is a perfect remote working setup where the Marketing Consultant can work in isolation and collaborate using online channels.

To gain better visibility in the online space the companies are depending on Marketing Consultants.  They help companies with innovative marketing practices to strengthen the brand’s presence online and in other channels too.

Companies explore various marketing initiatives to gather leads for their business through the help of a marketing consultant. Hence, a Freelance Permit in the field of Marketing will help entrepreneurs easily start a marketing consultancy for themselves.

For an entrepreneur who is a marketing professional or has experience in the marketing consulting field, there is an immense business opportunity in the field.

Explore the various Freelance License Packages here.

3. Online Tutoring and Coaching

Online Tutoring is witnessing rising popularity presently. It became a common online education business category during the lockdown period.

Since, schools, colleges, outdoor activities, and events were restricted, the demand for online coaching and study classes saw an increased acceptance. Online Tutoring is widely used in many parts of the world where internet connection is stable.

It is a perfect option for remote working and investors can obtain an educational training service license from the Free Zones of UAE. The entrepreneur can also obtain a Freelance Permit for delivering online tutoring services to students in UAE and abroad without any hassles.

There is a rising opportunity in the Online Tutoring space. The demand for online tutoring services is increasing with more kids having internet access. There are many applications, course aggregators, and online providers that require content creators, tutors, and many more.

Growing Business Ecosystem of Home Tutoring

The Home Tutoring ecosystem is in a nascent stage at present. It is expected to grow into a full-fledged business sector soon with more players entering the online tutorial market.

There is a vast range of online courses available for users to enrol in and take classes. It ranges from home tuition for kids, learning music, art, yoga, etc., to learning a new skill for professionals, and more.

Hence, entrepreneurs entering the segment have immense verticals to work on like coordinating with tutors, scheduling the course, enrolment, preparing the course details, and more.

4. e-Commerce and Online Shopping Portal

e-Commerce is another area that is seeing a surge in growth since the shift of consumers to online platforms for purchase. Online shopping rose sky-high with people moving to online shops, e-commerce portals, and online food delivery to meet their daily needs.

There is enormous opportunity in this sector for start-ups and investors to start small and scale up. With a small drop-shipping or home-based e-commerce store, entrepreneurs can scale up high.

Entrepreneurs can leverage their skills in e-commerce order management, home delivery, logistics, eCommerce portal management, and more. It is the right choice for investors choosing remote work as they can manage everything online.

5. Virtual Assistance

Virtual Assistance Services connects the world in the digital space. It has a wide scope starting from support to booking a doctor’s appointment to getting the banking services sorted; there are Virtual Assistance services available now.

It is a perfect choice for remote working from a home office, coffee shop, or anywhere. Virtual Assistance helps investors to achieve a steady workflow, clients, and money to sustain the business with minimal investment.

The entrepreneur can obtain a Freelance Permit with a consultancy license. Most of the work can be coordinated remotely via online platforms.

6. Home Bakers and Cloud Kitchen

There is a growing trend in home bakers and cloud kitchens in busy towns that provide homemade meals and bakery items to work professionals on-demand. It is a perfect choice for remote working in UAE.

For entrepreneurs to launch a home baker store or a cloud kitchen is very easy with few alternations to the home kitchen to accommodate the quantity you plan to sell.

In the UAE you can obtain a business license (Food/Cafeteria License) to start your home bakery or Cloud Kitchen after receiving the necessary approvals and the company documents.

The above-indicated business areas are not an exhaustive list of potential categories that are easily executed in a remote working setup.

In most of the cases above, the investor can take a 1 visa business license from the UAE Free Zones or a Freelance Permit to conduct the business operations.

To know more about the ways to set up a company in UAE in the most cost-effective way, talk to our team!

Contact Us: Aurion Business Consultants

The post Freelance License in UAE for Remote Work appeared first on AURION.

Opening a financial services company in Dubai is highly beneficial for investors as Dubai is the center for finance and building business. There is immense potential in the field of Financial Services in Dubai.

The technological advancements in the field of finance, the rising demand from domestic companies in Dubai, and the global connectivity and reach make Dubai the perfect hub for opening a Financial Services Company.

Scope of Financial Services Companies in Dubai

There is a wide scope for a Financial Service company in Dubai. Ranging from expense management, performance analysis, investment brokerage, and forex trading the list goes on and on.

Companies in Dubai are always looking to outsource the finance section to a professional company to reduce overall operational costs and hire finance staff.

The financial companies in Dubai will be constantly supporting the companies with various financial services.  There is a significant impact of technology in the finance sector.

A host of automated technologies are being used in financial services companies to render the required assignments for the companies.

Where to Set Up a Financial Services Company in Dubai?

Setting up a financial services company in Dubai is a prospective business investment for foreign investors.  There are two main business jurisdictions in which the financial services company can be set up.

The Mainland of Dubai is governed by the Department of Economic Development. The Company can be registered as a Limited Liability Company in Dubai. Financial Services fall under the professional license category.

The investor can also start the financial services as a single-owner company using a professional license from the mainland.

Similarly, the investor can choose the Free Zones in Dubai for setting up their financial services company. The DIFC Free Zone is the prime choice for finance-related companies in Dubai.

There are few Free zones such as the Dubai Airport Free Zone (DAFZA), Dubai Multi Commodities Center (DMCC), etc., that offer cost effective financial services licenses in Dubai.

How to start a financial services company in Dubai?

Central Bank and Emirates Securities and Commodities Authority approval is a mandatory requirement for starting a financial services company in Dubai, UAE. 

Be it in either Mainland or Free Zone, there are certain approvals from the Government entities required for opening a financial services company in Dubai.

Here are the steps to starting a financial services company in Dubai.

1. Choose the business jurisdiction – Free Zones or Mainland
2. Get the Name Approval for the company and choose the business activities from the business jurisdiction.
3. Get the necessary approvals from the Government authorities
4. Prepare the tenancy contract, application form, share capital certificate, and business plan for submitting it to the Government Licensing Authorities
5. Make the required fee payment and obtain the financial services license from the respective licensing authority

The Financial Services Company has a wide range of services to offer ranging from banking, investment, fund management, insurance, and more. It is critical for the investor to choose the right business activities while setting up the company.

Expert Business Consultants at AURION will guide and assist you in choosing the right business activities for the business and set up your business in a hassle-free way.

Free Zones to Choose for opening a Financial Services Company in Dubai

For an overseas investor, starting a financial Services company in any of the Dubai-based Free Trade Zones is an ideal option.

The investor can keep the overall cost low when going ahead with a Free Zone. At the same time, experience world-class business infrastructure and amenities.

1. Dubai International Financial Center (DIFC)

The Dubai International Financial Center is the top choice for starting a financial services company in Dubai. The Free Zone offers the right company formation packages and business amenities for a financial services company.

The investors will get a 3-year UAE residence visa and will be able to conduct financial services from the list of selected business activities under the trade license.

The entrepreneur can choose from Flexi-Desk, executive office, and shared office space depending on the nature of their business operations.

2. Dubai Airport Free Zone (DAFZA)

The proximity of the Dubai Airport Free Zone (DAFZA)   to the airport makes it a convenient location for foreign investors to set up a financial services company.  Also, DAFZA offers a host of business facilities and competitive Company formation packages with office space.

Dubai Airport Free Zone is one of the most prestigious free zones in Dubai and offers immense business benefits for investors. The entrepreneur can get a reputed Dubai Address with office space and business license from DAFZA in less than 2 Working days.

3. Dubai Multi-Commodities Center (DMCC)

The DMCC Free Zone is one of the largest Free Trade Zones in UAE. The Free Zone offers a host of business support services, business activities, and infrastructure.

The Free Zone has office towers in the Jumeriah Lakes Towers area with various specifications as per client requirements. Also, there is a host of business activities under each of the business licenses to choose from for the investor. 

Hence, in a nutshell, there are immense choices available in Dubai to start a Financial Services Company for the investor. Depending on the shareholder requirements and budget, the right business jurisdiction in Dubai can be selected for starting the financial services company.

Connect with our expert team of Business Consultants to know more about the competitive company formation packages available for getting a Financial Consultancy License or starting a financial services company in Dubai.

Contact Us: Aurion Business Consultants

The post How to Open a Financial Services Company in Dubai? appeared first on AURION.

However, there are many steps to it and must be handled the right way. There are various options for foreign investors to set up a company in UAE. Entrepreneurs can choose between the Free Zones and Mainland depending on their specific business requirements.

Business investors can take up the support of expert Business Consultants to carry out the company registration process in UAE.

There are certain steps involved in setting up a company in UAE. Aurion will assist investors to proceed with the company formation process and obtain the trade license at the earliest.

How Indian Investors can set up a company in UAE?

1. Trade Name confirmation and business activity Selection

The first step in obtaining the Trade License for the new company is getting the name approval. The investor must also select the right business activity and company license type.

2. Submit the required documents

The investor’s passport copy, photograph, business idea, and other shareholder details must be shared with the Business Consultants. They will coordinate with the licensing authority for the review and approvals.

Certain business activities will require special approval from the Free Zone and other Government Authorities.

3. Choose the Office space and location

Select the right office space and location for the business. Free Zones such as Meydan provide a No Objection Certificate to take an office space anywhere in Dubai. For Indian entrepreneurs to start a business in Dubai, Meydan Free Zone is a perfect choice.

Indian businessmen can easily setup a business in Dubai Mainland by obtaining the NOC and Trade License from the Meydan Free Zone. In the mainland of Dubai, they can take their desired office space in any of the business centers available to keep the business setup cost low.

Aurion will help in preparing the tenancy contract and other related documentation for the office. By making the office rent payment for 1 year (renewable) they can operate the company seamlessly from the office location.

4. Obtain the Trade License and Company Documents

After paying the fee for the rent and trade license, obtain the company documents along with the Trade License.

The Trade License is the legal document for conducting business in the UAE. All company communications of the company with stakeholders will have the Trade License as the document of reference.

5. Apply for a UAE residence Visa

Once the investor receives the Trade License, the investor can proceed to apply for the UAE Residence Visa.

The investor can obtain a 3-year visa and employees can get a 2-year visa tenure. It is renewable for the same tenure depending on the requirements.

6. Open a Corporate Bank Account

The investors are also eligible to open a corporate Bank Account for the newly set up company in UAE. There is a wide network of Domestic and International Banks in UAE offering various business solutions and personal investment solutions for the investors.

Benefits for Indian Investors from setting up a company in UAE

For Indian Investors setting up a company in UAE has numerous benefits. UAE is a business hub that connects the European markets with the Asian Markets.

Also, the growing ex-pat population creates an enormous demand for all kinds of products and services. It is a profitable market location for Indian investors to expand and register an office space.

Multiple Benefits for Indian Investors from Company Setup in UAE

1. Grow Business Internationally
2. Avail Lower Taxation on Business Profits
3. Focus on Local UAE Market
4. Global Connectivity
5. Four Hour Flight Time
6. Access to more than 2Billion Population
7. Easy Company Formation and Visa Processing
8. Purchase Property in UAE
9. Transparent Government and Legal Entities
10. Zero Crime Rate and Safety
11. Advanced Business Infrastructure
12. Improved Social Life

So in a nutshell, there are numerous business benefits for the investors in setting up a company in UAE. Also, UAE is a perfect choice for settling down for business owners with their families.

The real estate sector in the country is constantly offering high-return investment opportunities. UAE has some of the best ultra luxurious as well as affordable properties for investors to purchase.

Documents Required for Indian Investors to Set up a Company in UAE

For the Indian Investors to set up a company in UAE there is very minimal documentation required. The investor has to initially provide 3 choices for the trade name and select the required business license, business activity, and jurisdiction.

The shareholder’s passport copy, photograph, business plan, and shareholder CV must be provided to the Business Consultant for obtaining the Trade License and other company documents from the licensing authorities.

Opening a Branch/ Subsidiary of an Indian Company in the UAE

An existing Indian Company having an active business network in India can set up a branch or subsidiary of their Indian Company in UAE.

There are a few additional documents required to register an Indian company’s branch in UAE. The Indian Parent Company documents such as the Incorporation Certificate, Good Standing Certificate, Trade License, Memorandum of Association, etc., will be required as proof of stating the existence of the parent company in India.

The Indian Company’s document must be attested by the UAE Embassy in India and Counter Attested by the Ministry of Foreign Affairs in the UAE.

Once the attestation is obtained, the branch company registration process can be initiated in UAE with the help of an expert Business Consultant such as Aurion.

Can I start a company in UAE from India without my physical presence?

Yes, of course, you can start a company in UAE from India without the physical presence. All the company formation procedures can be completed online with the assistance of expert Business Consultants such as AURION.

Physical presence will be required for the Medical Examination for the UAE residence Visa purpose and bank accounting opening. Aurion’s professional consultants will handle all your business requirements with utmost precision and notify the investors about the status.

They can then plan the trip to Dubai for processing the residence visa and open a bank account for the company. All the procedures related to the company formation until obtaining the trade license and office keys will be handled by AURION without any requirement for the investor to be present in UAE.

Cost of Company Registration in UAE?

The Cost of Company Registration in the UAE varies depending on factors such as business jurisdiction, location, office space requirements, and more.

For Free Zone company registration in Dubai, the cost starts from AED 11,900 for a Zero visa quota company. Similarly, to set up a mainland Limited Liability company, the cost starts from AED 20,000 for a services license.

There are various choices available for investors when it comes to setting up a company in UAE. Entrepreneurs can choose from 40 plus Free Trade Zones and Mainland of UAE depending on their specific business requirements.

It is advisable to seek business advice from an expert Business Consultant for setting up a company in UAE. Especially for Indian investors who are new to the UAE Market, business consultants will guide them the right way.

To know more about how an Indian Investor can set up a company in UAE, reach out to our expert Business Consultants.

Contact Us: Aurion Business Consultants

The post Register a Company in UAE from India – Things Investors must know appeared first on AURION.

This article will help investors in identifying the list of best free zones in UAE and effectively setup their company. Foreign investors prefer Free zones in UAE as they offer 100% foreign ownership, zero income tax, full profit repatriation, easy company setup, flexible office spaces, and more.

Affordable Trade License Packages from Best Free Zones in UAE

The Affordable trade licenses offered by the Best Free Zones in UAE aims at start-ups and novice investors who wants to keep the overall company setup expenses low. Ranging from general trading to commercial licenses, the free trade zones offer a wide range of trade licenses. 

Also, most of the Free Trade Zones offer a huge list of business activities (more than 2000) across various business categories.  The investors based on their specific business activities can choose the right free zone from over 40 plus free trade zones in UAE.

In UAE the investors can get an affordable Trade License for AED 8050 for a Zero Visa Quota virtual company. Entrepreneurs can also get co-working spaces, Flexi-desk office types at affordable rates from the Free Trade Zones in UAE.

List of Best Free Zones in UAE Offering Affordable Trade Licenses

There are a few Free Trade Zones in the UAE that offer affordable Trade License packages for entrepreneurs with a variety of business benefits such as world-class office spaces, faster document processing, minimal paperwork, easy UAE residence visa processing, and more.

The Free Trade Zones help entrepreneurs easily establish and scale up their business ventures at a reduced expense overall. It is an ideal choice for investors to build a network and collaborate with others for work.

Selecting the Best Free Zone in UAE

So, you may be wondering how to choose the best Free Zones in UAE. Well, there is no certain selection process for arriving at the best Free Zone. However, the benefits the Free Zone offers to the investor and how well the Free Zone supports the business through their administrative work are major criteria for choosing the best Free Zone.

The Free Zones listed below are not ranked in any order. However, they are some of the best Free Zones in the UAE. Affordable Trade license and company setup package, top-class business infrastructure, administrative support, etc., are a few criteria that will help to choose the list of best free zones in UAE.

Following is the list of Best Free Trade Zones in UAE that offer affordable trade license packages for the investors for setting up their dream company in the UAE.

1. Sharjah Publishing City

Sharjah Publishing City is one of the best Free Trade Zones in the Emirate of Sharjah. The Free Zone has almost 1500+ business activities tailor-made to meet the investor business requirements.

Located at a strategic destination in Sharjah, it is close to Sharjah International Airport, and Khalid Port, also it is well connected by road transport.

The free zone is a perfect choice for investors to start a low-cost business in UAE and easily scale up their business. The easy business setup, faster issuance of investor visa, access to customized office space, etc., makes the Free zone an investor favorite.

2. Sharjah Media City

Sharjah Media City is another investor favorite choice for company formation in Sharjah Free Zone due to the ease of setting up the business and in-house immigration for faster visa processing.

Also, SHAMS Free Zone has banking partners in UAE that will quickly facilitate the corporate bank account opening. It is another best Free Zone in UAE that offer a competitive pricing for trade license.

Starting at a Free Zone trade license cost of AED 11,743 for a 1 visa quota license, the Free Zone offers one of the low-cost Trade License Package in UAE.

To know more about the latest Free Zone Offers, read: Sharjah Media City Package Details

3. Sharjah Research and Technology Innovation Park

Sharjah Research and Technology Innovation Park is a specialized free trade zone for research and technology innovation. It is a start hub of Sharjah where a lot of start-ups and innovators are testing new technology projects.

The Free Zone is one of the best choices for start ups. It has a few business incubators to support start-up growth in the region. Apart from research hubs and innovation units, the Free Zone also offers a range of business activities from consultancy to media and trading licenses at affordable costs.

Located Adjacent to Sharjah Airport International Free Zone (SAIF) and Sharjah International Airport, the Free Zone is a favorable choice for foreign investors to set up their business.

4. Meydan Free Zone

Meydan Free Zone is one of the best Free Zones in Dubai, offering a wide range of business activities for investors. It is situated at the Meydan Hotel, and the investors will have access to the vibrant Meydan community, the Grand Stand, Polo Club, Meydan Track, etc.,

It is a perfect destination to build business networks and conduct events and business meets. The Free Zone offers various office space options and business license categories for global investors.

Being the best Free zone in Dubai and located at the Meydan Hotel, it is the most sought-after Free Zone by global investors who are interested in establishing a company in a reputed location and address in Dubai.

5. Dubai CommerCity

Dubai CommerCity is a specialized Free Trade Zone for eCommerce-related business activities. The Free Zone offers customized office spaces and warehouse facilities to support the eCommerce companies in UAE.

The Free Zone is one of the best choice for e-commerce and trading companies. The Free Zone is located near the Dubai Airport International Free zone and the Dubai International Airport. It has a sophisticated business infrastructure facility and support functions to power the eCommerce companies in UAE.

The Free Zone has a fully customized warehouse facility, storage rooms, and business amenities that are tailor-made for meeting the business requirements of global investors.

6. Dubai Airport Free Zone

The best Free Trade Zone in Dubai is the Dubai Airport Free Zone. It is located adjacent to the Dubai International Airport. The Free Zone is the perfect choice for trading, consulting, IT Services, etc. A Company can be formed in the Dubai Free Zone for AED 41,760 approx. for a Flexi-Desk type Office.

It is one of the best Free Zones in Dubai in the heart of the City that offer competitive business setup packages. The Free Zone provides top class office amenities and infrastructure.

Also, the business licensing process is quick and the Free Zone has a long list of business activities for the investors to choose for their business. The business benefits such as tax savings, 100% ownership, quick setup, and strategic location of offices makes Dubai Airport Free Zone one of the best Free Zones in Dubai.

Hence, in a nutshell, UAE is a perfect place to start a business and easily scale up depending on the business requirements of the investor.

The Free Zones are the perfect place for businesses to thrive in UAE. They have all the required infrastructure and business supports services for the company to successfully start operating their business in UAE.

To know more about the Best Free Zones in UAE, talk to our expert business consultants right away!

Contact us: Aurion Business Consultant

The post Best Free Zones in UAE – How to Choose the Ideal Free Zone? appeared first on AURION.

The business sectors in UAE such as real estate, commercial building construction, hotel and hospitality, sports complexes, educational institutes, to the hospitals require Facilities Management Services on a regular basis.

Facilities Management helps organizations to effectively manage, monitor, and utilize the resources to achieve higher business results. There is a definite business opportunity for Facilities Management in the UAE.

How to Register a Facilities Management Company in UAE?

Facilities Management falls under the professional license category and hence it can be registered under the professional services. The entrepreneur has two options to register a facilities management company in UAE. 

It can be registered as a Free Zone company from any of the Free Trade Zones. Also, as a Civil Work company from the Dubai Economy or respective mainland authorities of each Emirate.

Registering the Facilities Management Company in Mainland of UAE

To register the Facilities Management activity in the mainland, the investors can register it as a Civil Work Company or a services company. As per the new UAE government law, there is no requirement for a Local Service Agent for the Mainland Facilities Management company. 

The mainland of UAE is a perfect place for registering a Facilities Management (FM) Company. The FM Company will be able to easily expand its business operations by opening branch offices, taking warehouse spaces, etc.

The 100% foreign ownership in the mainland, makes it easy for global business investors to set up their base in the UAE Mainland. Furthermore, the FM Company can take part in the Real Estate Regulatory Authority (RERA) grading system.

Based on the specialization and expertise, the company will be graded by RERA. It will help FM Companies to grab exclusive contracts available from leading developers for their annual maintenance and more.

Registering the Company in Free Zone

Free Zones are the perfect choice for getting a Facilities Management Company License in UAE. The Company can be set up as a Free Zone Establishment or Free Zone Company depending on the number of shareholders.

The Free Zones offer a top-class infrastructure for investors to easily set up their companies. The Free Zone facilities company can deliver their services such as consulting, feasibility study, project management, etc., anywhere in UAE, GCC, and the rest of the world.

The plug-and-play office spaces, meeting rooms, and robust business ecosystem that the free zone offers are ideal for the Facilities Management company. These feacilities will help to easily operate and meet their business requirements 

Which are the Free Zones to Choose for Setting up a Facilities Management Company?

Following are a few of the top-rated Free Trade Zones in UAE that offer Facilities Management License as a business activity. These Free Zones are the ideal choice for investors to setup their Facilities Management Company due to the various business benefits the Free Zones offer.

IFZA

IFZA offers a host of business licenses and business activities related to facility management, building management, project management, etc. Investors can choose from the list of business activities and business license types depending on the nature of the business. Facilities management companies can be registered under services license and the business activities can be chosen according to the specific business requirement.

IFZA has got sophisticated office types ranging from Flexi-desk, to shared workstations, to fully furnished offices. The business infrastructure IFZA offers is perfect for a Facilities Company to quickly start the business operations without any hassle.

Check out the latest Dubai Silicon Oasis – IFZA office packages here.

Dubai CommerCity

Dubai Commercity is a perfect Free Zone for a services company. It is one of the newest free zones in Dubai and it offers attractive company setup packages for every type of company. The Free Zone has a wide range of office facilities, a quick company setup process, a reputed Dubai Address, bank account opening assistance, and many more business support services.

The proximity to Dubai `international Airport makes it an ideal choice for investors to set up their base. Investors can get their global clients to their office easily and conduct meetings, host conferences, and sessions. Clients can fly in and out within the same day without any hassles.

Dubai Airport Free Zone

Dubai Airport Free Zone is one of the world’s most prestigious Free Zones in the world. It houses some of the world’s top-rated companies. The Free Zone has the right facilities for any type of company to scale up their business establishment.

There are co-working spaces, fully customized offices, and Warehouse + office space available in the Free Zone. Depending on the nature of the business, budget, and staff requirements, the investor can choose their desired business license and office type.

Check out the latest DAFZA office packages here.

Sharjah Airport International Free Zone

Sharjah Airport International Free Zone is one of the most dynamic free trade zones in the Emirates of Sharjah. It is a well-established and growing free zone with more than 4000 companies registered and operating within the Free Zone.

The proximity to the Sharjah International Airport makes SAIF Zone one of the most preferred free zone in the UAE. It offers a range of cost-effective business license packages. The SAIF Zone Company Setup Package starts from AED 10,800 for a 3 Visa quota Shared office space.

The quick company formation, availability of office spaces of various sizes, warehouse facilities, in-house customs, and attractive company setup offers; make the Free Zone a perfect choice for Facility management companies.

Hence, in a nutshell, UAE is a perfect business location for any type of company. Investors can avail of top-class business support services, and infrastructure to easily set up their base. Then scale up their business globally.

Connect with our expert business team to know more about opening a Facilities Management Company in UAE.

The post How to Start a Facilities Management Company in UAE? appeared first on AURION.

The Free Trade Zones in Dubai offer a perfect launchpad for start-ups to succeed. There are various competitive company setup packages tailored for entrepreneurs with diverse business requirements.

There are few start-up incubators in the Free Zones that will fund the business ideas and pump in capital for carrying the start-up forward until it reaches sustainability.

How to Register a Start-Up in Dubai?

Dubai has emerged as a Start-Up capital of the Middle East with a robust start-up ecosystem. It comprises infrastructure support, company laws, technology support, financial aid, and more. The Free Zones in Dubai plays a vital role in providing the required base for start-ups to thrive.

To register a Start-Up in Dubai is a straightforward process by applying for a suitable company setup package from any of the Free Zones in Dubai. The investor has to go through a defined process to obtain the business license and other clearances to kick off the business.

For an entrepreneur who is new to Dubai, it is advisable to get the assistance of a business consultant to pick the right option at the lowest cost and get all the paper works done the right way.

Steps to Register a Start-Up Company in Dubai?

To register a Start-Up company in Dubai one must follow certain procedures. Broadly the steps can be listed as:

1. Choose the right Free Trade Zone and get the Application form
2. Reserve a trading name for the company. It will be used in all future communication and branding activities
3. Choose the right business activity and company structure (Based on the number of Shareholders – FZE/FZC/ FZ-LLC) for the start-up
4. Select the right office space based on the business requirements. Ranging from co-working spaces to Flexi-Desks, and fully-furnished offices, the Free Zones in Dubai offers a wide choice.
5. Based on the business license the tenancy contract will be signed with the respective Free Zone and annual office rent will be agreed upon along with the business license cost.
6. Submit the required documents (Shareholder’s passport copy and photograph) and the fee as per the company setup package and the chosen office space to obtain the business license.
7. Certain business activities would require special permits from the Authorities. For example, Healthcare/Pharma companies require approval from Dubai Health Authority to conduct business in Dubai.
8. Apply for a UAE Residence Visa and open a Corporate Bank Account using the newly formed company documents.

Top Free Zones in Dubai that offer start-up packages in UAE

1. Dubai Airport Free Zone, DAFZA

Dubai Airport Free Zone is a prestigious Free Trade Zone in Dubai offering an exclusive company setup package for investors to easily scale up their business establishment. Entrepreneurs have a wide choice starting from a 6 Sq.m Flexi-Desk to a 50 sq.m office.

DAFZA offers umpteen business benefits for the start-ups and easily earns credibility among the business network in UAE. The Free Zone hosts a lot of business networking events to empower the companies based in the Free Zone with the latest market trends.

2. Dubai Technology and Entrepreneur Center, DTEC

The Dubai Technology and Entrepreneur Center is a start-up hub for newbies in the field of technology. The Digital Park offers perfect infrastructure support to start-ups to test and launch their products and services.

The Free Zone also offers a business incubator service for funding and mentoring start-ups and make them self-sufficient. DTEC offers attractive company setup packages for investors to set up their base in Dubai in the most hassle-free and cost-effective way.

3. Dubai Multi-Commodities Center, DMCC

DMCC is a popular business hub of the UAE with a large business network and ecosystem. It is spread over a large area with a long list of large and small companies operating there daily.

It is a start-up hub and a technology center. A lot of entrepreneurs have set up their base in DMCC and testing their products in the UAE market. DMCC offers cost-effective company setup packages for the investors to set up a company in the region and expand.

Ranging from Gold Trading to Crypto License, DMCC offers a host of business activities for investors. There is a huge range of office spaces to choose from starting from shared desks to fully customized office areas. 

4. Dubai Silicon Oasis – IFZA Dubai

Dubai Silicon Oasis – IFZA Dubai is a relatively new free zone with ample business infrastructure for start-ups to thrive. It offers one of the most competitive company formations cost in Dubai. The company setup cost in IFZA starts from AED 13,500 for one visa quota business license.

Investors can choose from Flexi-Desk, Shared Office, or Executive Offices for their new company. IFZA has a dedicated in-house immigration channel for the quicker company formation and visa stamping process.

IFZA offers one of the lowest-cost company setup packages in UAE to investors. The 100% foreign ownership, low-cost company setup, low tax rates, global trade network, etc., make IFZA the perfect choice among investors.

5. Mainland Business License

The instant license from the mainland helps to keep the company setup cost at an all-time low. It helps entrepreneurs to start their business venture with very less overhead cost.

The instant license from the Department of Economic Development is a one-year virtual license without any office space requirements for the first year. However, from the second year onwards for the renewal, the investor would require to take an office space to continue the chose business activity.

To set up a business in the mainland the investor can also opt for the most popular company structure the Limited Liability Company (LLC). Now with 100% foreign ownership in the mainland, this option seems attractive for most of the ex-pat investors in UAE.

To know more about opening a start-up in UAE, talk to our expert team right away!

Contact Us: Aurion Business Consultants

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However, for the businesses to not have any hassles in the course of their regular business operations, knowing the business regulations in UAE are essential. UAE has several regulations in place for smooth and transparent business operations.

The Entrepreneur must comply with the Company Laws that will:

• Govern the business
• Protect Labour rights, consumer rights, and intellectual property rights
• Protect the health and the environment
• Govern the Free Zone that the business is established in.

1. Economic Substance Regulations

The Economic Substance Regulations (ESR) is in line with UAE’s commitment to international tax cooperation and transparency.

All companies in the UAE’s onshore and Free Zones that carry out any of the ‘Relevant Activities’ listed in the regulatory framework must submit the ESR file. Also, these companies must have an adequate ‘Economic Presence’ in UAE and will have to undertake the Economic Substance Test.

To know more, read about Economic Substance Regulation in UAE

2. Business Regulations in UAE

Businesses in UAE are governed by two major Business jurisdictions the Mainland and the Free Zone depending on where the company is established. Each of the business jurisdictions has its own governance and policies that the businesses have to adhere to.

Business Regulations for Mainland Companies

The companies operating in the mainland of UAE are governed by the Federal Law No.2 of 2015 on Commercial Companies.

Business Regulations for Free Zone Company

The businesses operating in a specific free zone will be regulated and governed by the policies of the free zone. In some cases, it might be additionally governed by another government entity.

Law on Bankruptcy

Business bankruptcy in the UAE is governed by Federal Law by Decree No.9 of 2016. The law provides a legal framework to help distressed companies in the UAE avoid bankruptcy and liquidation through various mechanisms such as:

• Out-of-court financial restructuring
• Composition procedures
• Potential to secure new loans under terms set by law
• Conversion to the declaration of bankruptcy and liquidation of debtor’s assets

Changes to UAE National Minimum Ownership Law – 100% Expat Ownership in UAE Mainland

The recent company law amendments state that there is no requirement of a UAE national for establishing a company in the mainland of UAE. More than 1000 business activities are on the positive list which allows 100% ex-pat ownership.

For a service company in the mainland for there must be a local service agent appointed by the company for an annual fee.

The local Agent does not have any control over the shares or the business operations but will act as a liaising agent with the government during the trade license renewals.

Ultimate Beneficial Ownership in UAE

Based on the UAE Government Cabinet Resolution 58, 2020, the Ultimate Beneficial Owner Procedure is for increasing corporate transparency.

The resolution is applicable for all legal entities that are registered in UAE Mainland and the Free Zones. The entity must keep the details of their owners ready at their office premises and must file it with the authorities. Any change in the register must be notified to the authorities immediately.

Filing Ultimate Beneficial Ownership

The reason for filing for UBO is to reduce the chances of monetary fraud at corporate levels. unregulated industries can get into financial transactions that can be harmful to the country. Declaring the shareholders of the company as Ultimate Beneficial Ownership can avoid all illegal transactions and curb money laundering to a great extent.

A person or party owning more than 25% of a company share or the person who benefits from the transaction made by the company in UAE must be registered as the Ultimate Beneficial Owner of the company.

VAT Registration and Filing

Business residents in UAE must mandatorily register for VAT who have a turnover of more than AED 375,000 in the last 12 months. Also when a company’s turnover exceeds more than AED 375,000 in the next 30 days they can apply for the VAT registration.

Businesses in UAE can voluntarily register for VAT if the turnover or expenses (subjected to VAT) were more than AED 187,000 in the last 12 months or the company expects the turnover to exceed AED 187,500 in the next 30 days.

UAE Cabinet has defined certain Free Zones as Designated Zone. It is treated outside the scope of VAT when the goods are transferred between Designated Zones.

Filing the VAT Returns in UAE

At the end of each tax period, VAT-registered businesses must submit a VAT Return to the Federal Tax Authority (FTA). A VAT Return summarizes the value of supplies and purchases a taxable entity has made during the tax period and shows the person’s VAT liability.

The VAT filing is either monthly or quarterly depending on the annual turnover. If the annual turnover is less than AED 150 million, It can be submitted quarterly.

To know more, read VAT Registration in UAE

Excise Tax in UAE

Excise Tax was introduced across the UAE in 2017 as a form of indirect tax levied on specific goods that are typically harmful to human health or the environment.

The rate of Excise Tax on various items are:

• 50% on carbonated drinks
• 100 percent on tobacco products
• 100 percent on energy drinks
• 100 percent on electronic smoking devices
• 100 percent on liquids used in such devices
• 50 percent on any product with added sugar or other sweeteners

Hence, businesses engaged in the following categories must be registering for Excise Tax.

• Import of Excise goods into the UAE
• Production of Excise goods where they are released for consumption in UAE
• Stocking of the Excise goods in UAE in certain cases
• Overseeing an Excise warehouse or designated warehouse storing Excise goods

Businesses can register for Excise Tax through the FTA Website, Aurion will assist in registering for Excise Tax in UAE.

To know more about the Business Laws in UAE that are applicable to your company. Talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

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There are more than 45 Free Trade Zones in UAE that offer customized and cost-effective packages for entrepreneurs to start their dream company.

Visa Sponsorship – Sponsoring Dependents in UAE

An employee in UAE other than domestic workers can sponsor their immediate family, wife, and children with a minimum salary of AED 4,000 or AED 3000 plus accommodation.

Irrespective of the job functionality or position held, as far as the employee has a valid UAE residence visa, they can sponsor the dependents.

Female Sponsoring the Dependents in UAE

For female residents to sponsor their family there are few criteria to be followed. They must be holding a valid UAE Residence Visa and must be in any of the following professions – engineers, doctors, teachers, medical sector, or others (Special approval required).

Also, the female sponsor must have a monthly income of AED 10,000 or AED 8,000 + accommodation. For women in other categories must have a monthly salary of AED 10,000 and must get special approval from the General Directorate of Residency and Foreigners Affairs (GDRFA).

Sponsoring Parents in UAE

To sponsor parents one must earn a minimum salary of AED 20,000 or a monthly pay of AED 19,000 plus a two-bedroom accommodation. Also, a medical insurance policy with minimum coverage is stipulated for each.

The visa issued is valid for one year and would be required to apply for renewal after the period. The sponsorship of parents is for both the parents and cannot bring only one parent under the sponsorship.

Sponsoring Single Parent

In the case of single-parent. the related official document as a justification to sponsor must be provided to the authority as required.

There are special approvals required from the GDRFA if the sponsor is a son or daughter-in-law of the parents. A Kinship certificate and other different documentation would be required accordingly.

Residence Visa for Children Sponsored by Parents

There are amendments made to the residence visas for 18-year-old sons sponsored by their parents (until the age of 21).

Under the new rule, the ex-pats can apply for a renewable one-year residence visa for their son. There is no deposit amount required for applying for the visa for the children. For a girl child, the parents can sponsor them until they get married.

Long Term Residence Visa Rules – Golden Visas

The 5-years and 10-years Golden visas have changed the residence status of UAE into a long-term destination for ex-pats. Also, with the retirement visas, UAE is becoming a family-friendly location for the ex-pat to work, live, study, and settle for the long term.

To know more read about Golden Visas in UAE – How to Apply and Eligibility Criteria  

Documents Required and Visa Fees

• Passport copy (in color) valid for six month
• Original Emirates ID
• Dependent Passport copy and color photograph (white background recent picture)
• House Rental Contract showing the minimum requirement for Sponsoring wife/children/parents accordingly
• Electricity bill copy
• Labour contract or salary certificate
• Bank Statement for sponsoring parents
• Mobile number, email id, and P.O Box (if any)
• Birth certificate – (for a newborn), Marriage Certificate Attested and Legal Translate (Arabic) for Spouse Sponsorship

Sponsorship Visa Fee

• File Opening – AED 280
• Entry Permit – AED 530
• Medical Fitness Test – AED 345
• Emirates ID (2-Year Fee) – AED 270
• Visa Stamping – AED 400 (Normal), AED 480 (Urgent)
• Change status – AED 1,330 AED

**Actual Rates May Vary please contact us for precise rates

New Visa Rules and Effect on Property Market

With the expat-friendly residency rule amendments, it is anticipated that the property market will see a long-term revival.

More ex-pats will bring in their dependents and the residential apartments will have higher occupancy rates.

Also, it is expected to be a boost to the purchase of freehold properties in UAE by the middle and high-income ex-pat population who will be settling in AUE for a longer-term.

Company Formation and UAE Residence Visa

Company formation in UAE is a straightforward way towards obtaining a residence visa in UAE. The company owner will get an investor visa for 2 years from the mainland or free zones of UAE.

Setting up a company in UAE is easy with the Free Zones due to the quick and reliable business support and infrastructure facilities offered.

Also, the investor can benefit from umpteen business benefits and sponsor their family in UAE. UAE is the perfect location for expanding business internationally as it a hub for trade and commerce.

To know more about the latest Company Formation Packages from UAE Free Zones, talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

The post How to Sponsor Dependents in UAE? – Live, Work, Study & Settle in UAE with Family appeared first on AURION.

Foreign direct investment in UAE is expected to rise as the business-friendly policies and growing business ecosystem constantly supports business growth in the region.

Mainland, Free Zone, Offshore – Three Business Jurisdictions

In UAE, there are three main business jurisdictions – The Mainland, Free Zone, and Offshore.

Based on business requirements the investors can choose the required business jurisdictions. The three business jurisdictions of UAE are distinct and come with their advantages and business benefits for the investors.

Mainland Company in UAE

Mainland companies in UAE are mostly registered as Limited Liability Companies. The next common company type in the Mainland of UAE is the professional license category or Civil Company. There are other Public and Private Joint-Stock companies in Mainland that are Semi-Government companies.

The Department of Economic Development in Dubai is the Licensing Authority for registering a Limited liability or Civil Work Company. Global Investors can choose the various business license types and activities available to start a company in UAE.

Also, almost 122 business sectors are on the positive list that allows 100% ex-pat ownership with no minimum share capital requirements. The foreign ex-pat can register a company in the mainland without the requirement of a local sponsor.

There are many advantages for the investors for setting up a company in the mainland of UAE. It is a perfect choice for large-scale commercial and industrial units as well as retail businesses. Service License or Professional License is also one of the major business license categories in the Mainland.

100% Expat Ownership for Mainland Companies

The recent cabinet decision enables 100% ownership for expatriates and eliminates the need for local sponsors or local service agents. Most of the business activities in the mainland are obtained by foreign investors with 100% ownership.

Business Activities in the field of consulting, commercial, industrial, eCommerce, etc., can be opted by foreign investors to obtain the trade license. The process of mainland company formation is hassle-free and quick.

Investors can choose from a wide range of business activities and business license types at affordable trade license costs from the mainland of UAE.

Mainland Company Formation – Key Highlights

Depending on the business activity and company type, the mainland company registration requires certain pre-approvals and will enable the company to trade in the whole of UAE, GCC, and beyond.

• Mainland companies have total flexibility in carrying out a wide range of business activities including industrial, commercial, and professional sectors.
• Investors can take office spaces, retails shops, and showrooms in UAE and conduct business in the UAE and the rest of GCC regions seamlessly.
• Obtaining a UAE Residence Visa, sponsoring employees, and opening a corporate bank account in UAE is easier using a mainland license as the company has a physical address in UAE.

Pre-Approvals for Strategic Industries

The mainland company formation is relatively easier when compared to offshore companies. Depending on the business activity chosen, the offshore company will require a pre-approval to get the business license.

Whereas, for mainland companies unless healthcare, manufacturing, and other strategic business activities, the company registration process is instant and the company license can be issued within hours.

Professional License from UAE Mainland – Steps to Follow for Starting a Civil Work Company

Using the professional license category, a Civil Work Company can be registered through the DED, Dubai. Civil Work Company enables the professional to quote for Government orders and tenders.

Following are the steps involved in Opening a Civil Work Company in Dubai. Civil work Companies help professionals to set up their business ventures in the mainland of Dubai.

AURION will assist in setting up a Civil Company in UAE, our team of expert Mainland Company Formation Consultants will guide you through the complete process and handle all the related activities to ensure you get the Civil Work Company License at the lowest cost. Our team will assist in:

1. Choosing a tradename for the Civil Company and getting the pre-approvals
2. Filling up the Application form and submitting the shareholder details to the DED
3. Preparing the Tenancy Agreement for the office space
4. Preparing the Agreement for the Local Service Agent and Appointing an LSA for the Civil Company
5. Making the required fee payment for obtaining the Professional License
6. Obtaining and Delivering the Professional License to the investor
7. Applying for the investor visa and coordinating the opening of the bank account for the company.

In a nutshell, the Professional License from UAE mainland is one among the preferred business license categories by foreign investors who are looking to venture into services business and expand their business network in UAE

Free Zone Company Setup

Free Zone companies enjoy 100% foreign ownership, tax-free status, no customs duty for import-export. Also, there is a VAT exemption for designation free zone and investors get access to world-class business infrastructure and amenities.

Free Zones offers a cost-effective business setup and need not have a local partner or agent. It has fully furnished office space readymade warehouses and light manufacturing units readily available for investors to take.

The shareholders, directors, and employees of a free zone company are eligible for obtaining a UAE residence visa.

Free Zone Business Benefits

Free Zones enable investors to experience a hassle-free business setup and peace of mind. The business license fee is paid upfront for a year, also the rental expense of the office space is paid to the Free Zone as a whole yearly.

It gives relief for the rest of the year and the investor can focus on their core business activity more. Also, the Free Zones offer a perfect business ecosystem for investors to easily scale up their business. It also enables the business to get access to world-class amenities and facilities. 

Most of the Free Zones are VAT Exempted and consist of an in-house residence visa processing center. It is a perfect choice for trading companies as the customs clearance process is far easier and the proximity to airports and seaports make the transfer of goods and services easy,

What are Offshore Companies?

Offshore Companies are registered with the offshore jurisdictions of a business center. There are there offshore jurisdictions in UAE that are RAKICC, Ajman, and Jafza. Offshore companies do not fall under the legal and business regime of UAE mainland or Free Zone Authority.

Offshore companies also fall outside the scope of VAT (Value-Added-Tax) in UAE as these companies are deemed to be outside of UAE and does not have a onshore/resident status. The companies can neither open office spaces in the UAE nor can apply for UAE Residence Visa for the employees. It is an ideal option for investors to conduct international trading.

Ras Al Khaimah International Corporate Center –RAKICC

RAKICC is one of the most popular offshore business centers in the UAE. The key highlights of RAKICC Offshore are:

• 100% foreign ownership and confidentiality of the owner ( No public documentation, No audit reports for renewals, No share capital requirements)
• Robust Offshore infrastructure with easy company formation process,
• Ability to buy and own properties in UAE with the virtual license obtained.
• Operate the business from being at anywhere in the world

It is a perfect choice for companies looking at an international market expansion. The tax-free status of Offshore company makes it a favorite choice among foreign investors.

To know more, read : Offshore Company Formation in RAKICC

Jebel Ali Free Zone Authority (JAFZA) Offshore

JAFZA Offshore is governed by the Jebel Ali Free Zone Authority. The Offshore companies listed with JAFZA will have direct access to one of the world’s largest shipping ports to easily facilitate global trade.

JAFZA Offshore – Key Highlights

The exemption of taxation, absence of personal and corporate tax, no import-export duties currency restrictions, etc.; make investors choose JAFZA for setting up their offshore company. There are many business benefits for a JAFZA offshore Company such as no minimum capital requirement, the appointment of directors and secretaries are mandatory, annual reporting requirements, etc.

Offshore Companies in JAFZA can purchase real estate in Dubai upon receiving pre-approval from the developer and free zone authorities. Similarly, offshore companies can be owners of mainland and free zone companies by investing in company shares.

Ajman Offshore

Ajman is another choice and when it comes to offshore company setup. With a relatively low price, it offers a perfect choice for the investor. Ajman Offshore is the cheapest offshore business jurisdiction in UAE. The companies can conduct operations outside of UAE and have the ability to purchase a property in the emirate of Ajman.

There must be a shareholder and director to register the offshore company, the presence of the company is mandatory. There is no minimum requirement for the share capital in Ajman Offshore.

Read more about Free Zones vs. Offshore Companies in UAE and Which is the best Emirate in UAE for Company Formation. To know more about Company Formation in UAE, talk to our expert team right away!

The post What is the Difference between Mainland, Free zone, and Offshore Companies in UAE? appeared first on AURION.

The market capitalization for Crypto Currency in UAE for 2020 was Approx. USD 265 Billion. The Cryptocurrency market is in a growth phase with the rise in Bitcoin transactions worldwide and new Cryptocurrencies entering the market.

Cryptocurrencies like Bitcoin, Dogecoin, Etherum, Tether, Polkadot, etc, are becoming actively popular in the UAE. Also, online Cryptocurrency trading exchanges enable Bitcoin trading for individuals.

What is a Cryptocurrency License?

To legalize the cryptocurrency business in the UAE, the investor must obtain a commercial license. All the Crypto trading, monitoring, buying, etc., will be regulated by the Crypto license in UAE.

Currently, the cryptocurrency license in UAE is issued by the Following Free Trade Zones:

• DMCC – Dubai Multi-Commodities Centre
• DAFZA –  Dubai Airport Free Zone Authority
• ADGM – Abu Dhabi Global Market
• Sharjah Research Technology & Innovation

Operation of Crypto exchanges in UAE

To operate a crypto exchange in UAE there is a set of regulation and compliance requirements. Also in most cases, the application for a crypto exchange goes through strict scrutiny from the Securities & Commodities Authority, ADGM, and the respective Free Zone authorities.

Opening and operating a Crypto exchange in Dubai is a new thing. It is expected to be a game-changer for the crypto license companies and investors in the UAE.

Taxation of Cryptocurrency Trading Companies

There is no income tax or corporate tax in UAE. Hence there is no tax for crypto trading Companies in Dubai. UAE has Value Added Tax at a very low rate (5%.)

Entrepreneurs can easily set up a crypto trading company in the UAE that is not taxable. However, the regular transactions using cryptocurrency in UAE will be subject to the 5 % VAT.

Procedures to Follow for Obtaining a Crypto Currency License in Dubai

The following steps are to be followed to obtain the Cryptocurrency license in Dubai:

• Submit the cryptocurrency license application form to the respective Free Zones
• Submit the required documents of the shareholders – passport copy, photographs
• A brief business plan and share capital to successfully run the company
• Choose the suitable office space based on the requirement and prepare the tenancy agreement
• Make the required payment for the Crypto License and Office Rent

Post the approval by the respective Free Zone authorities, the Crypto trading license will be issued for the company. The investor can then apply for a UAE residence visa and proceed to the opening of a corporate bank account in the UAE.

Crypto License Governing Bodies in UAE

UAE aims to provide an integrated ecosystem for the cryptocurrency trading and blockchain sector and adapt to the latest technology trends driving economic growth.

The Securities and Commodities Authority (SCA) along with DMCC has worked out a regulatory framework for businesses in the line of cryptocurrency trading, listing, management, etc.

The Dubai Airport Free Zone also will follow similar guidelines and register cryptocurrency trading licenses for the investors.

Crypto License Guidelines from Abu Dhabi Global Market Free Zone

Similarly, the FSRA (Financial Services Regulatory Authority) and ADGM (Abu Dhabi Global Market Free Zone) publish certain guidelines on cryptocurrency trading and business licenses.

The regulations of Crypto Assets Activities in ADGM is the most extensive regulatory framework available in UAE and there is no other law governing cryptocurrency in UAE currently.

However, with the prominence of cryptocurrency trading, the UAE Government is all set to introduce a detailed regulatory framework for cryptocurrency license issuance and Crypto trading.

DMCC Launches New Crypto Centre in Dubai

DMCC has launched a Crypto Centre, a comprehensive ecosystem for businesses operating in the crypto trading and blockchain sectors.

It is aimed to be a hub for the development and application of crypto and blockchain technologies. The center will provide support to all types of companies to develop solutions related to blockchain and crypto technology.

DMCC Crypto Center – The Crypto and Blockchain Hub of UAE

The new center will provide co-working spaces to crypto entrepreneurs and SMEs to test and develop their blockchain and crypto solutions.

The Centre also has a crypto advisory practice led by CV labs, the entity behind the Switzerland Government-backed Crypto Valley. Also, a series of incubators and accelerator programs are lined up for the start-ups who intend to receive funding for their crypto projects.

The DMCC’s new Crypto Centre will be center stage for Dubai’s future blockchain initiatives. Dubai has emerged as a global hotspot and technology leader in the blockchain and related applications. With the addition of the DMCC Crypto Center, the blockchain and crypto ecosystem in the UAE is expanding to new heights.

To know more about Crypto License in UAE & Cryptocurrency business in Dubai. Talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

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