All About Your Mainland Company In Dubai

Starting a business in Dubai can be a great opportunity for entrepreneurs and companies looking to tap into the UAE's growing market. One popular option for businesses looking to establish a presence in Dubai is setting up a mainland company. In this blog post, we will discuss the benefits of setting up a mainland company in Dubai and the key steps involved in the process.

Benefits of setting up a mainland company

One of the biggest advantages of setting up a mainland company in Dubai is the ability to access a large and growing market. Dubai is a major hub for international trade and business, and a mainland company in Dubai can take advantage of the city's strategic location and modern infrastructure. Additionally, the UAE has a favorable tax environment, with no personal or corporate income taxes.

Another key benefit of setting up a mainland company in Dubai is the ability to participate in the local market. Unlike free zone companies, mainland companies are able to trade and conduct business with local companies and consumers within the UAE. This can be especially beneficial for businesses that are looking to establish a long-term presence in the region.

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Process of setting up a mainland company

The process of setting up a mainland company in Dubai involves several key steps. The first step is to choose a business activity and trade name. It's important to choose a business activity that is consistent with the company's goals and that is approved by the relevant government agencies. Once the business activity and trade name have been selected, the company must register with the Department of Economic Development (DED) and obtain a trade license.

Other important aspects of setting up a mainland company in Dubai include obtaining the necessary approvals and permits, such as a tenancy contract and approvals from other government agencies like the Ministry of Health and Prevention, the Dubai Municipality, and the Dubai Civil Defense. The company must also register for Value Added Tax (VAT) with the Federal Tax Authority (FTA) if the company's taxable supply exceeds a certain threshold.

It's important to note that there are some restrictions on foreign ownership of mainland companies in Dubai. In most sectors, foreign investors are allowed to own up to 49% of their business, while the majority share must be owned by a UAE national.

In conclusion, setting up a mainland company in Dubai can be a great way to gain access to the UAE's large and growing market, take advantage of the country's favorable tax environment, and benefit from its modern infrastructure. However, it's important to consider the restrictions on foreign ownership and ensure compliance with all relevant laws and regulations. It is recommended to consult with legal and financial professionals before setting up a mainland company in Dubai or anywhere else.

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Corporate bank accounts may be one of the thorniest processes you will go through while setting up your business in Dubai. While you won't have to worry about a thing as we will arrange everything for you, it's still handy to know how everything sets in place. This bank account is going to help you observe all of your transactions, deposits and loans if required. With challenges like:

-          Requiring a physical office

-          Should prove credibility at all times

-          Not easy to open when you come from a high-risk country

To open a bank account for an LLC of Free Zone each bank has its own timeline, all in all, it will take up to four weeks to complete this process.

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Opening your bank account in Dubai

The UAE doesn't allow the do business with a personal bank account, so aside from that, you will need to open a corporate bank account as well.

Your corporate account should be a current one, this means that this has to be a transaction account.This type of account comes with the ideal way to make daily transactions, this provides a chequebook, debit card, no limit on your withdrawals, and many other strong points.

Current accounts are the main ones that will be used for corporate accounts, this comes with one obvious reason and that is: the ability of many daily transactions.

When we open your bank account we will need a few documents, these documents contain:

1. Trade license which we already have provided for you
2. Certificate of the company's registration
3. Your and the shareholder's visas and passports
4. The company's memorandum and articles of association

What about credit cards?

Credit cards are very handy to be used for businesses, this allows you to make small or big purchases on credit, they are only to be used for business purposes only, any personal purchase is not allowed here. This card is very important and can be used as a metric that is associated with your company's prosperous health.

It's also crucial to know that this card can be used for emergencies within the company, however, we do suggest you to obtain a credit card for you to build a credit score for your business.

Other than this, choosing the right credit card for you is a valuable decision to make as an entrepreneur as many banks do have different settlements. We assist you in this decision, making sure your choice will meet up to your wants and needs. With this process, you will also have to fall in on some criteria.

-          A valid trade license

-          Your age

-          Income

Getting started on this is an exciting journey where we are at support and assist at all times, making it a trouble-free process for you. We will arrange this in a time span of 2 to 4 weeks, are you ready to jump in?

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