Thank You For Exploring With Us How To Open A Business In Dubai Or The UAE To Get A Resident Visa
Your Personal Assistant [PA] will be assigned to you
Within the next 2 business days
Varal office hours are from Sunday to Thursday, 9 am to 6 pm, at GMT +4
A PA group will be formed that will include your PA, a Varal Monitor, and 2 back up PAs in case the primary PA is unavailable
He or she will contact you using Email, your preferred communication method
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Role of your personal assistant
Your Varal assigned personal assistant [PA] will get in touch with you soon.
He or she will assist you with your queries, find the appropriate answers from Varal or it’s panel of experts, and be with you even after your process is complete.
There are hundreds of choices to select from because there are many variables. Your personal assistant will help you get to where you want to be with your decisions.
He or she will also have 2 backup assistants who will be available in case the primary PA is unavailable.
The contact will be by your preferred mode i.e. Email. Chat platform calling is blocked in Dubai.
You can explore the setting up of your business in and migrating to, any one of the 7 Emirates viz. Dubai, Abu Dhabi, Ajman, Umm Al Quwain, Sharjah, Ras Al Khaimah, and Fujairah, that constitute the United Arab Emirates [UAE].
6 Tips to help you avoid shock! They will affect your budget and your decisions on time, cost and business activity
1. When will your process be complete?
To start your business and move to the UAE you should at a minimum have the following documents:
- A 2 or 3-year renewable Investor or Employment visa stamped in your passport
- An Emirates ID card
- A company and a personal bank account
- A company Trade License [business license] that permits you to do the activities you want to do
- A company establishment card that allows you to apply for visas
- A lease agreement, registered with the authorities, for your office or desk space or shared office or other facilities from where you are supposed to conduct your business
Other conveniences that can be obtained as necessary are:
- Mobile phone connection
- Tenancy contract for where you will live
- Maybe school admissions
- Dependent visas for your wife and children if required
Yes, you will be able to set up your business and move to the UAE within the next 2 to 6 months.
2. Benefits of being in the UAE vs other countries
In most other countries e.g. the UK, USA, Australia, Canada, Singapore, Cyprus resident visas revolve around investment in government-approved securities or real estate. The costs, time taken and the hurdles you’ll face are significantly higher.
In the UAE, resident visas revolve around company ownership which you can achieve at a fraction of the cost and time. Also, you don’t need to be in the UAE for long periods of time before you become eligible.
You merely need to register a company.
For Tax Residency certificates though you will be required to be in the UAE for 183+ days per year.
3. Typical range of costs you should budget for
Yes, the costs are small for moving and setting up an entity in a foreign country!
The costs related to starting a business in the UAE range from AED. 40,000 to 500,000+ [US$ 11,000 to 150,000+] depending on
- The type of activity you wish to do
- Your shop, restaurant or office rent
- Costs of licenses, customs registration, and additional ministry approvals
- The number and types of visas you need
- Attestation costs for degrees and other documents
- Where in the UAE you choose to register your business
Your smallest budget options are for trading or consultancy licenses with 1 visa and they are the quickest to form.
Also, companies formed outside the Emirate of Dubai are cheaper than those formed within Dubai.
4. Typical time it will take and what it depends on
Yes, the time taken for your to move to the UAE is much less than what it would take for other countries! You should budget for 3 to 6 months.
It depends on the type of business activity, the number of approvals required, and the type of business facility you are going to need.
If it’s just desk space for 1 visa, then the time required would be a few days compared to the few weeks you may need to find a good location for your restaurant or clinic.
For example, if you are starting a clinic that requires approval from the Health Department. The total process just for the approvals for clinic license, doctor’s qualifications & license, facilities and fit out may take you 6 months or more!
5. Steps that will need to be taken
Yes, starting the process is simple. You only need your passport and proof of address document to get started.
There are thousands of choices and your personal assistant will help you get to where you want to be.
More than 2,000 business activities are licensed by the 40+ different free zones and economic departments. So you will definitely be able to find the one you wish to do.
6. Business and personal bank accounts
There is excellent representation from both foreign and local banks.
Foreign banks are governed by both their head office regulations as well as the UAE central bank whereas the local banks only need to comply with the UAE central bank’s regulations.
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Varal Consultancy DMCC
1502 One Lake Plaza, Cluster T
Al Sarayat Street, Jumeirah Lake Towers
DUBAI, United Arab Emirates