If you want to start a new business in Dubai, you are not alone. Many entrepreneurs across the globe want to do business in Dubai.
Why do businessmen from all over the world want to flourish their businesses in Dubai?
The answer is simple: it is a cost-effective location.
Dubai is a reasonably prime location to start a business.
Operating your business is as cost-effective as feasible with zero corporate tax, zero personal income tax, and zero tax on imports, exports, and re-exports.
Setting up your business in a specific place is a big decision that will eventually affect how your business grows. The fact that international companies like to do business in Dubai shows that it is a good value location.
Although Dubai has a reputation for being a high-end destination with sky-touching buildings and luxurious resorts, this does not mean that doing business there is expensive.
For businesses of all sizes, there are many affordable and adaptable options to select from.
You can take professional guidance from our business consulting experts. Have in-depth field experience; they will guide you through the entire process.
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When looking for low-cost ways to start a business in Dubai, a free zone license is a good choice when you consider things like administrative fees and office options.
This is especially true when compared to the costs of starting a business on the Mainland.
Stick around this blog post if you want to know the cost of setting up a business in Dubai. Here you go!
What is The Cost of Opening a Free Zone Company in Dubai?
You need to consider the following criteria:
1. Registration Fees
You must pay the registration fee for your business to the Free Zone.
It is a one-time fee that varies from free zone to free zone. The registration fee is almost AED 3500.
2. Visas
As a business owner, you can apply for your residence and family members’ visas.
The applicant receives the investor’s legal status and the ability to conduct business in the Free Zone in exchange for the one-time expense of the initial visa.
The standard price ranges from AED 3,000 to AED 6,000 per person, inclusive of renewal fees, and these are good for one to three years.
Residence visas are required to create a personal bank account, sponsor family members, rent property, and apply for a driver’s license.
3. License Costs
This is the cost for any license you choose, which is paid to the Free Zone.
The sort of license you require depends on the major activity in which your firm will engage, and various free zones provide a variety of license alternatives with varying rates.
Depending on the Free Zone and license you to choose, free zone licenses typically need to be renewed every one to three years.
License fees typically range from AED 10,000 – 50, 000 per year and include trading, service, and industrial licenses.
The license renewal costs frequently vary from the license cost for the first year.
4. The Workplace
Dubai’s free zones have a number of affordable options for you to rent or acquire office space.
Every Free Zone has its own unique offerings, many of which give you a chance to scale as your business expands.
Depending on the area of the city where the office is located and the quality of the building, office costs might vary greatly from one free zone to another.
The kind of office you need depends on how many employees you intend to have; it is typically determined by square footage.
Depending on your free zone, you can choose between furnished or unfurnished and annual or fixed-term payment options.
The cost normally ranges between AED 15,000 and 21,000 per year, but for more precise information, it’s essential to conduct your own study to check the typical office prices for the regions where you wish to be headquartered.
You can talk to our professional consultants if you want a tailor-made estimation.
The Benefits of Selecting a Free Zone in Dubai
Choosing which city to start your business in is very important.
There are also some Free Zones in the other Emirates of the UAE, but each Emirates offers different long-term and short-term opportunities.
It’s important to think about how the differences between the Emirates might affect your business.
These are the benefits of starting a business in Dubai’s free zone:
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Activities
When comparing free zones in other Emirates, it’s crucial to take into account that each free zone allows licensing for a different set of activities.
Free zones frequently serve particular industries, which might make understanding the legal requirements for launching a firm inside such sectors simpler.
With a much wider selection of free zones in Dubai that serve particular industries, you have to find a free zone that matches your company’s needs.
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Bank accounts
Opening a bank account in Dubai with a license from another Emirate might be difficult, and some banks have strict restrictions.
These possible problems are minimally reduced when headquartered in a Dubai-free zone.
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Being central to the activity
If your free zone is located in another Emirate besides Dubai, you must establish a location for your office.
Being as near as you can to your customers, prospects, suppliers, and potential employees is advantageous.
Even if some of the free zones in Dubai may cost more, it’s crucial to consider whether the free zone is a good fit for your company and how it can affect your business’s long-term success.
Start your Business with Bizstart!
Our talented business setup consultants can help you start a business in Dubai’s free zone with ease.
Bizstart has been in the business consulting market for over a decade now. We provide you with seamless business opportunities.
So what are you waiting for?
Contact our professionals right now and set up a new business in Dubai.