Setting up a business in Dubai offers entrepreneurs and investors a wealth of opportunities in one of the most dynamic business landscapes in the world. However, it is essential to plan your investment wisely and understand the costs associated with the business setup process. In this article, we will explore the various components of business setup cost in Dubai to help you make informed decisions.
Company registration and licensing:
The first cost to consider is the company registration and licensing fees. This includes the cost of reserving the company name, obtaining the necessary approvals from relevant authorities, and acquiring the trade license. The cost can vary depending on the type of license (mainland or freezone), the nature of the business activity, and the jurisdiction in which you choose to establish your business.
Office space and rent:
Renting office space is a significant expense when setting up a business in Dubai. The cost of office space depends on factors such as location, size, and facilities. In the mainland, the cost may vary depending on the area and the type of building, while freezone offices often have specific requirements and price structures set by the respective freezone authorities.
Visa and immigration:
Visa and immigration costs should also be considered. These include the fees for obtaining residency visas for shareholders, employees, and their dependents. The cost will depend on the number of visas required, the visa type, and the duration of stay in the country. It is essential to understand the visa requirements and associated costs for your specific business setup.
Sponsorship and local partner:
If you choose to establish a mainland company, you will need a local sponsor or partner, which incurs additional costs. The local sponsor typically holds a certain percentage of shares in the company and is responsible for regulatory compliance. The sponsorship fee can vary depending on the agreement between the parties involved.
Professional services:
Engaging professional services such as legal advisors, business consultants, and PRO (Public Relations Officer) services is common during the business setup process. These services assist with documentation, government approvals, licensing, and other administrative tasks. The cost of professional services can vary depending on the complexity of the setup and the scope of services required.