A business transfer is a big deal that must have been adequately taken care of and must have been planned exquisitely. This move is something that requires more of the benefits rather than the risks, so choosing a place of transfer is one that should be highly considered. If you are from India and plan to re-allocate your business or open your own business in Dubai, look for a country with a good relationship with your current one for a convenient and beneficial transfer or setup. To set an example, let’s take a look at Dubai, the top most destination for business owners with a long history of friendly cooperation with India.
Dubai as a Business Hub
There is no denying the fact that setting up a business in Dubai is popular amongst investors, especially from foreign countries. They have established themselves as a global leader of innovation providing a hyper-connected, pro-business hub between the East and the West. Dubai’s government highly supports foreign enterprises because they significantly boost the emirate’s economy and they encourage small business and large corporations offering various benefits and opportunities to business owners. Furthermore, the liberal policies specifically for Indian investors and their quick and easy business registration for the business owners from India make Dubai a perfect location if you are to transfer your business as an Indian citizen.
Benefits of Dubai for Indian Business Owners
As an Indian national, there is an edge if you are to register a business in Dubai. Why? Because Dubai recognises India as the most productive international investors in many parts of the UAE for decades. Given this contribution, Dubai continuously patronises Indian investors giving away more benefits and opportunities like:
- Favourable taxation – Dubai offers no personal or corporate tax for Indian business investors. Moreover, they have low import duty, only 5% VAT, free trade, and double taxation agreements beneficial for business setup in UAE.
- Supportive government system – The company registration process in Dubai for Indian nationals is made easy and fast with only three working days to process given the necessary documents and approvals.
- Full profit repatriation – Dubai does not have restrictions on sending your money back home.
- Strategic location – Indian investors registered in Dubai can enjoy the perks of Dubai’s centralised location accessible to various markets worldwide, perfect for trading and distribution companies.
Requirements for Indians to Register a Business in Dubai
Before deciding the place of the business location, every business owner must know the legal requirements needed in that specific country. In the case of Indian national setting up a business in Dubai, here are the things that must be fulfilled:
- Visa eligibility of businessman and employees
- Business agent to help with the registration process
- Trade Name
- Memorandum of Association
- Trade License
- Membership Registration at the Dubai Chamber of Commerce and Industry (DCCI)
- Ministry of Labor application for the establishment card
- General Authority for Pension and Social Security for employees
- Office Space
Steps to Start a Business in Dubai for Indian Nationals
To guide you and help you put together the requirements, we have listed down the steps that you can follow whether you will open your own business in Dubai or register your existing company in Dubai from India. Take note that the below steps can be made easier with the help of professional service providers offering company formation solutions in Dubai.
Step 1. Reserve a company name or a trading name to act as your business trademark
Step 2. Register your company with the Department of Economic and Development (DED).
Step 3. Notarize the company’s Memorandum of Association (MOA) at the DED
Step 4. Submit all the necessary documents with the DED to start your company in Dubai
Step 5. Obtain your company’s trade license to carry out your business activity and should be well fitted within the jurisdiction
Step 6. Apply for membership at the Dubai Chamber of Commerce and Industry (DCCI) to commence with your commercial or industrial business. Membership is valid for one year, and it protects the business community in various forms.
Step 7. Apply at the Ministry of Labor to receive your establishment card.
Step 8. After you apply, you must also register your employees with the Ministry of Labor and the General Authority for Pension and Social Security for protection.
Step 9. Acquire an office space that should be rented or taken on lease to begin the business
Step 10. Contact your trusted service provider for business setup services to check, analyse, and help you out with your business application in Dubai.
IBG Consulting as your Trusted Service Provider
If you plan to open a business in Dubai today, you have us! We specialise in forming onshore and offshore companies, handling complex international business structures, and providing corporate and administrative services. We assist clients with the best possible solutions according to their needs. Get in touch as we can do the work for you. Whether you are from India or in any part of the globe, contact us today and get a free consultation.