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How to Start a Business in the UAE as a Foreigner
The United Arab Emirates (UAE), with its robust economy, strategic geographical location, and favorable business regulations, is a hotbed for entrepreneurs worldwide. If you’re a foreigner seeking to tap into this flourishing market, you’re in luck! The UAE’s policies are designed to foster business growth and innovation, regardless of your nationality. This comprehensive guide outlines how to start a business in the UAE as a foreigner.
- TABLE OF CONTENTS
How to Start a Business in the UAE as a Foreigner
Step 1: Choose Your Business Activity
The first step in setting up a business in the UAE as a foreigner is to determine your business activity. The UAE offers a broad spectrum of opportunities across various sectors such as technology, healthcare, retail, tourism, and more. Your chosen activity will guide your business license type and the most suitable location for your company.
Step 2: Decide on the Business Jurisdiction
Based on the nature of your business, you may need a commercial, professional, or industrial license. While the specifics can differ among jurisdictions, it typically requires submission of a completed application form and the needed documentation. These documents could include passport copies, a well-drafted business plan, and relevant governmental department approvals.
Step 3: Obtain the Necessary License
Depending on your business activity, you will need to acquire a commercial, professional, or industrial license. The specific process can vary slightly between jurisdictions, but it generally involves submitting a filled application form along with the necessary documents, such as passport copies, business plan, and approvals from relevant governmental departments.
Step 4: Open a Corporate Bank Account
Once your business is registered, you should open a corporate bank account in the UAE. The requirements can differ between banks but usually include providing a company stamp, Board of Directors’ resolution sanctioning the account opening, and copies of shareholders’ and managers’ passports.
Step 5: Process Your Visa
As a foreigner, you’ll need a visa to live and work in the UAE. Fortunately, once you’ve set up your business, you’re eligible to apply for an investor or partner visa, which allows you to act as your own sponsor. Use Choose UAE’s cost calculator to find out the cost:
How Can Choose UAE Help
Setting up a business in a foreign country can be daunting. At Choose UAE, we’re here to simplify the process. With our in-depth knowledge of the UAE’s business landscape, legal requirements, and procedures, we offer comprehensive support to foreigners aspiring to establish businesses in the UAE. We guide you through each step, ensuring a smooth and efficient setup process, leaving you to focus on what matters most – launching and growing your business.
What Makes Us Stand Out?
- Trustworthy Reputation
- Individualized Solutions
- All Around Services
- Hassle-free, Fast and Efficient
- Excellence and Professionalism
- Dedicated Support
