10000, depending on how long your company will stay registered. For some companies, the ownership documents need to be prepared and submitted at the same time as when you are submitting your business license application. In these circumstances, it could take more than 1 year for your company’s registration process to finish!
In case your company ever needs to be dissolved, it is a well-known fact that starting your own business can be challenging. However, the rewards are also great and there are many places where you can start one. Dubai is an option for those who are looking to start their businesses in countries with friendly regulations and fewer language barriers. In this blog post, we will go over what you need to know before start a business in Dubai without money. We will cover topics such as company setup, taxation, etc., so read on if these things interest you!
This is how the process works. First, you need to choose an office location based on what kind of company you are starting (Branch Office or Representative Office). If you have chosen to set up a Branch Office, then typically, you will be required to submit all the necessary documents before your business license application can be submitted at Dubai Chamber. After submitting the application, you will have to wait for a response and then proceed with any inspections that may be required.
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The number of days taken for your company to be set up in Dubai is always dependent upon how much information is in your business license application. However, you can expect anywhere between 2 weeks – 4 months! This waiting period will include how long it takes for the company formation to be completed, how long it takes for your bank account to open, and how long it takes for other documents such as visa-related documents, labor card application, etc.
The duration of how long you can run your business in Dubai depends on how often a report is submitted. Another words, how frequently a tax return is done. For example, if the business needs to file taxes every 6 months and the company has been in operation for more than 1 year, then it means you will need to submit a tax return report annually. The length of how long your business license will last depends on how many years you have been running the business and how often the tax return has been submitted.
If you are wondering how to set up a company in Dubai, it is actually very simple if you know which documents to provide and how much money you will need (this depends on how long your company will be required to submit tax returns). The cost of setting up a company in Dubaian range from AED 2000 to 10000, depending on how long your company will stay registered. For some companies, the ownership documents need to be prepared and submitted at the same time as when you are submitting your business license application. In these circumstances, it could take more than 1 year for your company’s registration process to finish!
In case your company ever needs to be dissolved, you will need to submit a certificate that states how long it has been in operation. This is how your company’s revenue will be calculated when doing the calculation for tax returns. If your company is registered as an LLC, then the formation of such an entity can take up to 5 months for approval!
Regardless of how you go about getting your company setup, it will still take a couple of weeks to have everything ready. If the process ever becomes complicated due to how long some documents are taking to be prepared / how many changes need to be made, then adding a few more days will not hurt. Don’t forget to start looking for which bank account would fit your company best!
Dubai is an ideal place to start a business if you are looking for friendly regulations, less language barriers, and the opportunity to explore the Middle East. We hope this blog post has been informative on what it takes to get started in Dubai. Now that you have all of your questions answered, go ahead and create your new company! Be sure to check out our website for more information about how we can help with creating or managing your digital marketing strategy as well!
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