The United Arab Emirates (UAE) is well-reputed as a coveted destination for business setup. With its booming economy and straightforward legal procedures, company formation in Dubai is highly feasible and welcoming for foreign residents from around the world.
As a fellow member of the Gulf Corporation Council (GCC), residents of Saudi Arabia can further redeem exceptional benefits of company formation in UAE. That is to say, UAE is the perfect hub for company setup for KSA residents.
If you are a Saudi Arabian resident with an entrepreneurial mindset, then consider starting up a business in the diverse UAE economy. You will find yourself reaping many benefits such as the following:
1. No Residency Visa Requirement for UAE
As a member of GCC, Saudi Arabian residents do not require a residency visa, also known as an investor visa, to enter the United Arab Emirates. KSA residents simply must produce their Saudi passport or ID card for entry in Dubai. This makes entering the country for business purposes easier than ever!
2. Lower Taxation for Business Setup in Dubai
As a reaction to the ongoing COVID-19 pandemic, Saudi Arabia has tripled the value added tax (VAT) rate to 15%. This has caused a significant amount of discrepancies to businesses in KSA. On the other hand, the VAT rate in UAE remains a lower 5%. This means that KSA residents can enjoy company formation in Dubai with lower taxation.
3. Easy Company Setup Procedures
The legal procedures for business setup in UAE is very easy and transparent. This makes it incredibly simple for foreigners to start their business and begin operations in no time. Furthermore, with the help of a company formation agency in Dubai, the process of company setup for KSA residents is completely fuss free!
4. Several Company Formation Options
UAE offers several options to foreigners for setting up a business. Residents of KSA can choose between starting a mainland, offshore, or free zone company in Dubai. Each type of company setup offers its own unique features and benefits, so there is an option that meets every individuals needs! On the other hand, Saudi Arabia offers less flexibility when it comes to creation of a business.
5. Assistance from Company Setup Agency in Dubai
Just when you thought business setup in UAE couldn’t be any easier, KSA residents have the luxury to seek assistance from a company formation in Dubai consultancy firm. A specialist agency can walk you through all the processes and procedures, so that you can set up and operate your business with zero fuss!
Start Your Business in UAE Today!
Clearly, there are many benefits of company formation in UAE for KSA residents. The United Arab Emirates provides exceptional business opportunities to people from around the globe, and has a well-established and growing economy. Coupled with the unique entry benefits that Saudi Arabian residents enjoy, UAE is surely the best destination for business formation.
IBG Consulting is the leading consulting firm for company formation in UAE. If you are a KSA resident interested in starting a business in Dubai, then contact us today for premium assistance. We can help you with every step of the business formation process, so that you can start running your business in no time!