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Dubai has become one of the fastest cities in terms of business establishment and its growth since the last several years. The Department of Economic Development of Dubai has made the process of setting up business in Dubai very easy and smooth.There are two types of businesses one can commence ie, Mainland and Freezone when it comes to growth and freedom mainland business overwhelms the freezone businesses.
UAE is one of the safest countries in the world and also the trading hub of Middle East. With a strong network of Banks, businessman find UAE as an ideal location to setup company and bank account.
A mainland company is a legal entity that can operate inside and outside the country without any restriction. The mainland is a highly preferred destination where you can start your own business venture.
Both the business opportunities and facilities make it an ideal destination to open a business. The interesting fact behind this process is that it avoids the need for paying any personal and corporate taxes. These are specialized features that make Mainland a promising place for people who plan to set up or open their branch office. The process of setting up a business in a new region is a bit difficult. It is due to a new business formation is a job which requires profound knowledge and prudent thinking about the procedures and marketplace involved.
The main benefits of establishing a mainland company include:
According to UAE company law, a mainland company requires a local partner or a local service agent.
Mainland companies can trade with other mainland companies in Dubai or UAE. They have the flexibility to do their business in any part of UAE or beyond. This feature sets them apart from free zones companies because they are restricted to operate their business in their respective free zone.
There is no minimum capital requirement for the formation of Mainland Company.
Mainland businesses can choose their office location anywhere in Dubai. This feature allows them not only to trade with local market but can also open up multiple branches of the company thus enabling them to build a strong presence in UAE.
Mainland companies also have more options for business activities unlike free zone businesses e.g. Companies in Dubai Media City must work in the media or closely related industries. However there is no such limitation for mainland business and it can open up to wider UAE economy with much scope of diversity.
Mainland companies are allowed to take on governmental work unlike free zone companies which are prohibited from undertaking government contracts and are only allowed to carry out private commercial work.
There is no limitation on the number of visas on mainland license. However the eligibility to obtain visas depends upon office space. More office space, more number of visas you may get.
Select the right business activity and legal type that suits your business
Select a local partner or a local service agent
Get the initial approval for name and business activity
Get the MOA/Agreement notarized
Choose the office space and get the contract of tenancy.
Final submission of for a license.