Benefits of opening a startup in Dubai in 2021
Opening a startup in Dubai in 2021 is relevant because the country is among the fastest - growing ones. The jurisdiction has well-thought-out corporate legislation, and it is profitable to do business. There are tax benefits as well. Good development opportunities are provided for all types of companies.
How to start a company
Before registering a startup in Dubai in 2021, it is necessary to choose the type of company. In order to conduct trading activities, it is recommended to create a local company. Registering this form will require at least one national in management or a legal entity owned by citizens of Emirates.
An alternative option is to register a startup in Dubai in 2021 in the free zone. In this case a local partner is not required. Such enterprises are used to carry out international business. It is allowed to open production workshops, as well as logistics firms in the territory.
It is possible to create an offshore enterprise. In this case, it will belong to a foreign person. These types of firms are usually used to manage assets, to trade with other states, as holdings. No work is carried out inside the country of registration.
To open a company, it is required to choose the type of structure, find a local sponsor, and choose a unique name. After that, it is necessary to find a suitable location for the establishment of the company and to conclude an office lease agreement. When establishing a local business, a Memorandum of Association is drawn up. A document for obtaining a license and office rental is drawn up. To clarify in more detail the nuances of business registration, contact our experts at IT-OFFSHORE.
The advantages of registering companies in the country
The country is favorably located geographically, developed infrastructure. Dubai's economy is considered one of the most open in the world. There are a large number of free zones for the creation of international companies on favorable terms.
Dubai is considered one of the best territories for businesspeople from different countries to start a business, especially when planning to conduct export and import operations. The government actively supports businesspeople, the cost of establishing a company is reduced, and the interests of investors are protected.
Full ownership of the company by foreigners is allowed, visa restrictions are relaxed, and both small- and medium-sized businesses are encouraged. It is possible to optimize tax payments profitably and legally.
If the conditions are met, there is no levy on business income; only companies involved in mining and foreign banks are subject to the levy. The rate of the value-added levy is 5%. There are no levies on personal and corporate income.