Dubai is the economic and financial center of the Middle East, one of the global international financial centers, and a transportation hub between Eastern Europe, West Asia, and Africa. Dubai has a diversified economy and has been committed to continuously improving the business environment. It has provided high-quality development opportunities and preferential policies for domestic and foreign investors. More and more companies from various countries have chosen to register companies and implement projects in Dubai.

5 reasons to register a company in Dubai

1. Political stability, urban security, and rapid economic growth.

2. Tax incentives. Companies can enjoy extremely low tax rates. Corporate income tax is 9%, no personal income tax, and value-added tax is 5%. Foreigners can own 100% of the company.

3. Simple registration process and low entry barriers. Dubai's company registration process is simple and efficient, and registration can be completed in a short period of time (within 1 month) to quickly start business activities.

4. A large gathering place for available labor and international talents. Dubai is an international city that attracts high-end talents and low-end labor from all over the world.

5. Advanced infrastructure. Dubai's infrastructure is world-leading, whether it is transportation, communications or commercial facilities, it can meet the needs of the most modern companies.

What are the common types of companies in Dubai?

Generally speaking, there are three main types:

1. Local DED (Ministry of Economy) Company LLC/EST

2. Free Zone (Free Zone) Company FZE/FZCO

3. Overseas (offshore) Company

Local DED (Ministry of Economy) Company

The revised UAE Commercial Company Law allows foreign investors to own 100% of local companies. That is, except for special industries, doing business in the UAE will no longer require UAE nationals as "guarantors". Local companies have no restrictions on trade scope/business location, and Dubai local companies can trade throughout the UAE and internationally.

Free Trade Zone Company

Free Trade Zone companies allow foreign investors to hold 100% independent shares, but the business scope is limited to the free trade zone and the UAE. The main features and advantages are as follows:

● Special economic zones governed by their own regulatory framework;

● 100% ownership of commercial enterprises;

● 100% repatriation of capital and profits;

● Goods can be imported and exported duty-free;

● No tariffs are levied on business between free trade zones;

● Residence visas for shareholders and employees;

● The free trade zone business ecosystem allows companies to gather around similar industries and themes to facilitate business.

There are currently more than 50 free trade zones in the UAE, and each emirate has its own free trade zone, including more than 30 free trade zones in Dubai. These free trade zones are relatively independent and have their own registration procedures, charging standards, document requirements, business scope lists and rules and regulations. The main free trade zones that are currently attracting attention from Chinese companies are: Silicon Valley Free Trade Zone, IFZA Free Trade Zone, Jebel Ali Free Trade Zone (JAFZA), etc.

Offshore (offshore) companies

Offshore companies refer to companies registered in Dubai but not actually operating in Dubai and the entire UAE. They are "shell companies" in Dubai. Offshore companies are generally suitable for corporate structure design or global tax planning. Offshore companies cannot apply for visas.

Dubai International Financial Center (DIFC)

Dubai International Financial Center (DIFC) is a benchmark for emerging international financial centers. It is a gathering place for large financial institutions and the first choice for registration of this type of enterprise. DIFC consists of the Dubai International Financial Center Authority, the independent regulator DFSA (Dubai Financial Services Authority) and the DIFC Court, providing confidence for multinational companies. DIFC has more than 5,500 companies, forming the largest financial services ecosystem in the region. Together, they represent a market size of nearly US$1 trillion. These include 790 regulated financial companies, including 230 banks, 370 wealth and asset management companies (including 50 hedge funds) and 100 insurance and reinsurance companies.

Basic procedures for company registration

1. Determine the type of registered company

2. Confirm the scope of business

3. Provide the company name for verification

4. Fill in all relevant application forms

5. Scanned copies of shareholders and directors' passports

6. Submit the application

7. Registration is completed and the registration information is obtained.

After the company is successfully registered, continue to apply for personnel visas, bank account opening, bookkeeping and tax filing.

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