Dubai, it’s the most famous city in the United Arab Emirates (UAE) and is also one of its kind. The city of an urban area of 3885sq.km. and a population of about 3.33million welcomes people across the world to create a prosperous life for themselves. Dubai’s population is growing by around 5.64% a year and it has been a central business spot for a pretty long time. Its shorter proximity to Sharjah adds on. Dubai provides the lowest import duties, as well as the lowest tax rates, not only that, trade agreements are free too. Now Dubai has got an ideal location for business dwellers plus it has a competitive economy and to add on they have a remarkable infrastructure around there. Dubai also offers minimum costs to start a business. So, if anyone is planning to start a business, there is no other place better than Dubai. Here an individual will have the perfect opportunity to harness the entrepreneur inside them. This article will provide you a detailed view of the cost of starting a business in Dubai.
Why set-up business in Dubai?
Dubai has the most magnificent infrastructure which gives the best venues for conferences and all kinds of exhibitions. Multinational banks as well as well-known auditing services shelters in Dubai without any hindrances make it presently the best market. Dubai is a place with international high-class hotels, hospitals, schools, universities, and shops. The lifestyle of the people living here is quite dream-like. Making business in the local market as well as overseas is considered most beneficial. Availing the Visas and living in Dubai is also not much to worry about. Following the correct jurisdiction, you can get your desired place anywhere on the mainland. Even the size of the offices is not bound to go through any limitations.
Cost of business Setup
The average cost of setting up a business in Dubai (UAE) onshore is around a minimum of Dh34,340 ($9350). There are some other fees required too. These include around Dh15,000 for a general trading license, an amount of Dh10,000 approx. is required to pay to Dubai Municipality, around Dh3,000 is to be paid to the Ministry of Economy, and Dh1,200 approx. is required for Dubai Chamber of Commerce. LLC (Limited Liability Company) is one of the prime options considered in starting up a business. It is a legal procedure that demands a minimum of 2 and a maximum of 50 shareholders. LLC does not call for double taxation and it takes approximately $25 to get it renewed. There is nothing to worry about losses in case your company fails to run if you have LLC.
Entrepreneurs have help from the safest and the most committed organization to start up their business in Dubai. Clevercorp, a company that will help you to construct your business, has led the way for numerous entrepreneurs. They have some tailored policies which will guide you to set up your business in a systematic manner. Its seamless procedures allow you to dream big and make it true. There are important documents that are required to be presented during the process of setting up your business. Clevercorp acts like a parent to an entrepreneur providing him with all the required professional knowledge about setting up a business in Dubai. The qualifications of the owner play an important role in the case of making the licenses for starting up a company. It not only helps you spread your branches in the local market but also helps you to channel up with foreign companies.