How much does it cost to start a business?

How much does it cost to start a business?

Dubai is all set on the road to becoming one of the world’s economic hubs. Set up a business in Dubai when the time is right and reap the benefits for years to come. The cost of setting up a business is one of the most crucial considerations when thinking about starting a business and we are here to provide you an insight on the cost of starting a business in Dubai UAE.

Initial Cost of Starting a Business in Dubai

One of the most crucial parts of the cost of starting a business in Dubai UAE is the fee that is paid to the Department of Economic Development which is also known as the Ministry of Economy. The fee you will have to pay starts from 960 AED and is a nominal onetime fee that is charged by every Emirate in order to get the limited liability company registered. However, you will have to pay some other costs that include this fee and it varies according to the type of business you are doing.

The Department for Economic Development of Dubai grants permission to start business right away if you pay the initial approval free of 220 AED. This fee is actually a onetime fee and allows you to conduct business operation for six months until you can get you other documentation in order. You need to pay 720 AED in order to register you trade name. This is the name under which you will be conducting business in Dubai. The cost may fluctuate because this fee also includes reservation fees and foreign company names fee as well which are subject to change.

Cost of Starting A Business In Dubai UAE Freezone

People who intend to set up a business in the Dubai freezone will pay a 175000 AED freezone company registration fee which is a one time-expense. This cost, however, can differ according to the type of the company- for instance is it a Branch Office or a FZE?

An integral part of the cost of starting a business in Dubai UAE in the freezone is the freezone license fee. This fee is a yearly cost and is applicable on service, industrial and trading companies. This is a single window procedure and is done by the relevant freezone authority of the jurisdiction you are in .

Cost for Forming an Offshore Company in Dubai

You need to pay a fee of round about 11000 AED if you want to set up an offshore company in Dubai. The cost of starting a business in Dubai UAE varies according to the type of business you are setting up. The offshore company fees for registration is a cost that you will have to incur every year. And this varies according to the offshore jurisdiction you are present in. Also the type of company you want to set up. The cost of starting a business in Dubai UAE includes charges for opening a bank account in Dubai as well. This is a starting expense that is necessary for commercial transactions in Dubai.

The cost of starting a business in Dubai UAE varies if you want to avail nominee services. You will need to pay 15000 AED per annum. If you want any shareholders, directors, or nominees for the purposes of making decisions. Or signing documents while the owner is absent.

Agent Fees and Why You May Need To Pay Them

One of the costs of starting a business in Dubai UAE is an agent fee. A local agent is require to represent the company in the UAE and to interact with any government officials. You need to pay the agent on annual basis. Another fee you need to pay in the freezone. And which is part of cost of starting a business in Dubai UAE is an offshore business maintenance fee. You will be paying this fee to the local jurisdiction of the offshore area. For the first legal year, this is an annual fee. And from the second year onwards. It changes into fixed sum amount to the authorities in the jurisdiction.

The cost of starting a business in Dubai UAE depends greatly upon which zone you want to open the business. The jurisdiction in which you want to open a business. Also,the type of business you want to open. The cost of starting a business in Dubai UAE is discuss in great detail here. To provide potential business owners with the necessary details. And an insight as to what exactly is require of them if they want to conduct business operations in Dubai.

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