Everything you NEED to know about setting up a business in Dubai | Q&A with expert consultant

Summary

Summer and her partner interview Shalin, an expert on setting up businesses in Dubai. They discuss the step-by-step process of establishing a company in Dubai or the UAE, including the main options like free zone vs mainland, required costs, visa logistics, tax benefits, and lifestyle perks. Shalin outlines the key differences between business setup routes based on the company's activities. She explains legal considerations around property investments and residency visas. Summer and Matt describe their positive firsthand experience working with Shalin's company for their own Dubai business registration and visa process.

Takeaways

• 😊 There are multiple business setup options in the UAE like Mainland, Free Zone, offshore etc. depending on your business activity and plans
• 💡 It's important to have a consultation to determine the best business setup option based on short and long term goals
• 📝 Free Zone setup is more common for location independent online businesses looking for residency
• 🔍 Mainland setup allows more flexibility to work with local UAE companies but has more requirements
• 💰 Business setup costs vary greatly based on type and number of visasrequired
• ✅ Residency visas allow you to get a local bank account and freedom to enter/exit the UAE
• 👪 Once you get a residency visa, you can easily sponsor visas for your spouse and children
• 🏢 Beyond company setup, you can get help with relocation, real estate, schools etc.
• 📈 No minimum revenue required to setup a business, UAE welcomes startups and large enterprises alike
• 🤝 Expert help navigating requirements and options ensures smooth business setup experience

Q & A

What are the different business set up options available in the UAE?

The main options are Mainland, Free Zone, and Offshore companies. The choice depends on factors like the business activity, target customers, expansion plans, etc. Free Zone companies can only do business outside the UAE or inside their specific Free Zone, while Mainland companies have no restrictions.

What are some of the benefits of setting up a business in the UAE?

Some major benefits are - no personal or corporate income tax, easy access to markets in Europe, Africa, Middle East due to strategic location, great infrastructure and lifestyle.

How can someone get a UAE residence visa without setting up a business?

Options are - getting an employment visa if you find a job, golden visa if you buy property worth AED 2M+, green visa for skilled professionals, or other investment/income-based visas.

What is the process and timeline for setting up a Mainland business?

It takes about 2 weeks to get the license, then 2-10 days for medical tests and visa stamping. Most of it can be done remotely, you only need to visit for medicals and signing legal docs.

How much does it cost to set up a business with one visa in the UAE?

In the Free Zone with basic license it can start from AED 18k-20k. For Mainland it's more expensive, around AED 80k-100k+, depending on type of visa.

Does my overseas business need to be a certain size before I can set it up in the UAE?

No, the UAE welcomes businesses of all sizes and stages, whether you are just starting up or are an established global company.

Can I get a freelance visa in the UAE?

Yes, there are freezone licenses that allow you to get a freelance or entrepreneur visa, which is suitable for independent professionals.

How can I protect my UAE assets from Sharia inheritance laws?

You can hold your UAE assets in an offshore holding company or foundation registered outside the UAE. This avoids automatic application of Sharia laws after death.

Can I sponsor my family if I get a UAE residence visa?

Yes, once you have your own visa you can easily sponsor your spouse and children to also get residence visas.

Do I need a UAE business license just to rent out my UAE property?

No you don't if you engage an estate agency to handle listings, contracts and other legal aspects. As an owner you can do minor things yourself without needing a license.

Outlines

00:00

😊 Intro to the video and walk in Dubai

Summer and the host are enjoying a walk in JBR, Dubai. They made a video to answer common questions they get about moving to Dubai, setting up a business, getting residency, etc. They will be interviewing an expert who helped them set up their business in Dubai.

05:00

😃 Options for setting up a business in the UAE

There are many options to set up a business in the UAE depending on the activity, target customers, business structure etc. Can set up in mainland, free zones, offshore. Visa options for employees and residency. Cost effective options for startups.

10:01

🏦 Challenges of setting up banking as a free zone company

It can be trickier for free zone companies to get bank accounts compared to mainland companies. But there are some free zones recommended that make the banking process easier.

15:02

🤑 Tax benefits and lifestyle perks of living in the UAE

Key benefits like no personal income tax and zero corporate tax (now 9% VAT only on mainland business over 375K AED). Good location to access markets in Europe, Africa, Asia. Amazing lifestyle and activities.

20:02

🏠 Best way to buy property as an expat in Dubai

Recommend setting up a holding company offshore to own Dubai properties, gives more control compared to personal ownership under Sharia law.

25:03

🔬 Residency visa options in Dubai

Various long term visa options - investor, property ownership, employment. Golden visa allows 10 year residency with proof of property ownership over 2M AED.

30:06

📝 Step-by-step process of setting up a mainland business

Involves consultation, license application, visiting notary, medical test, visa application. Expert handles most of legal paperwork. Bank account opening takes longest.

35:06

💰 Cost of setting up a business in Dubai with visa

License itself is cheap (from 6K AED), the visa adds main cost. Basic freezone package with 1 visa from 16K AED. Cost varies based on business activity, number of visas.

Keywords

💡business setup

The main theme of the video is about setting up a business in Dubai. It provides a step-by-step overview of the process, costs, benefits, and recommendations for different business types and situations. Examples from the script showing business setup details include: 'how would our viewers go about setting up a business here'; 'different types of jurisdictions'; 'steps to get licenses and visas'.

💡residency

Getting residency is a major reason many people want to set up a business in Dubai. The video covers different visa types that can lead to residency, like investor and employee visas. It also shows how business setup can enable residency for oneself as well as family members. Examples include: 'other ways to get residency'; 'a business license that's relatively cheap anyway so you could get the business license that's less expensive than the overall cost but then you can't set up the bank account, you can't do the business here so it can't it doesn't make sense it's the Visa that is kind of necessary'.

💡tax benefits

A major appeal of Dubai is the tax benefits for businesses and individuals. The video emphasizes the low tax rates, including 0% personal and corporate tax in many cases. It also covers recent and upcoming changes. Examples include: 'everyone here sees the glitz and the clamor and everyone's doing really well as we know and it's all glamorous and great but it does cater to everyone at all levels you know whether you're a startup whether you're expanding'; 'corporate tax is still zero percent, for international business but they have introduced from the 1st of June nine percent corporate tax'.

💡business license

A business license is the basic requirement for legally operating in Dubai. The video outlines different license types like free zone and mainland. It also discusses how licenses enable other critical steps like visas and bank accounts. Examples include: 'Mainland license leaves you completely clear to work with anyone whether it's in the UAE or internationally'; 'free zone license will cover you for free zone business and international business'.

💡free zone

Free zones are a popular business setup option in Dubai. They cater to international businesses and offer benefits over mainland licenses while having some restrictions. The video covers free zone costs, processes and use cases in detail. Examples include: 'if it's purely international business you know everything's online nothing's going to happen in the UAE but you want to live here you want to be able to invoice from here then a free zone is 100 the best way to go'.

💡Golden visa

Golden visas are long-term 10 year UAE residence visas for investors, entrepreneurs, professionals, etc. The video mentions how property investment above a threshold can qualify for these visas. Examples include: 'then we can actually apply for a golden visa'; 'Golden Visa is 10 years validity which is the longest visa that you can get'.

💡bank account

Opening a business bank account is covered as an essential but often lengthy process. Factors like mainland vs free zone license type and minimum balance requirements are mentioned. Examples include: 'the banking is probably the longest part'; 'it's the Money Talks process where the more you have the more your business is going to do the easier it is you know'.

💡family visas

The video explains that an individual having a valid Dubai visa can sponsor visas for their spouse and children, enabling families to move too. Rules around this like being legally married are also covered. Examples include: 'that person can then sponsor his wife and his children very very easily so there's not really any restrictions with that at all'.

💡concierge services

The end-to-end business setup services provided are referred to as concierge services. These optional add-ons help new movers with steps like finding housing, schools, etc. Examples include: 'we do have a concierge team so we can't physically do everything in-house but we tend to have contacts so even if we can't coordinate it we've got people that we can put you in touch with'.

💡Sharia law considerations

As Dubai has an Islamic legal system, the video alerts expats to arrange personal assets to avoid issues. Structures like foundations are suggested to control asset succession. Examples include: 'this kind of just gives you that added layer of protection and he gets to dictate you know if I pass away 50 of whatever we've got is going to you end off whereas you know Sharia law has some different rules'.

Highlights

There are multiple options for setting up a business in the UAE depending on the activity, target market, and plans for growth.

Free zones cater to specific industries and provide cheaper setup options for international businesses.

Mainland licenses allow complete freedom to work with local and international companies, but have more setup requirements.

Corporate tax is 0% in free zones and will be 9% on the mainland over 375k AED starting June 2023.

The UAE offers easy access to markets in Europe, Africa, and Asia.

Property investments can be protected from Sharia inheritance laws by using offshore holding structures.

A golden visa for property investors allows 10 years residency with few visits required.

The business setup process can be done remotely, with only a week or two visit required for medical tests and signatures.

A basic free zone company with visa can cost as little as $5,000 total.

It's possible to transfer or replicate an existing overseas company in the UAE.

Visas are available without needing to set up a business, through employment, property purchase, or other investments.

Bank account setup tends to be the most difficult and time consuming part of the process.

The UAE supports entrepreneurs at all stages and business sizes.

There are flexible remote work visa options available.

The culture supports entrepreneurial success and thriving businesses.

Transcripts

summer and I are just enjoying a walk

along one of our favorite spots here in

jbr and so we've put together a full

video because we get so many questions

about how we moved here how we set up

our business how we've got residency so

we decided to sit down and host a

podcast style interview with the company

that helped us get set up yeah so we

asked a lot of your questions it was

great wasn't it step-by-step process

yeah how to set up a business here and

other ways to get residency so I hope

you guys enjoy it here we are you now

join us in the podcast studio so we're

going to take a deep dive into the

process of setting up a business in

Dubai we'll leave a Google form in the

description if you'd like to find out

any more information or set up a

business yourself you can check that out

today we are with shalin who is an

expert in setting up businesses here in

Dubai we also use shellin in the company

last year to set up our own business

here but yeah we're just going to do

loads of questions simplify it Go step

by step through the process okay so the

first question is how would our viewers

go about setting up a business here in

Dubai so there are multiple options

obviously the UAE is quite large

everyone knows about Dubai but there are

actually seven Emirates so depending on

what the business is how they're going

to be operating there are many many

different options so different types of

jurisdictions which will work for

different types of businesses so the

first thing that we need to kind of

establish which we would have done with

you guys is obviously the activity what

the business is actually going to be

doing who they're targeting

um if it's something that's in a

specialized kind of industry there are

specific free zones for example that

cater to the needs of those types of

activities yeah and one of the things

that we found when we were moving here

and a decision that we had to make is

are we going to be doing business here

in the UAE or is the business purpose to

do international business because that

does make a difference and we actually

chose to do a Mainland business because

we do conduct business here in the uee

so that's also something for them to

think about right exactly and you don't

need to Rack your brains obviously

trying to figure that out that's a big

part of what I do as Matt and some

themselves know I will run through that

with you and figure out what's going to

be the best route so in terms of the

jurisdictions there are different ways

of setting up as Matt has touched on

we've got Mainland free zone offshore so

depending on what's going on we can

obviously have that discussion as you

guys know

um the legal structure so you can own

the business as an individual you can

own as a corporate owner you can also do

a subsidiary you can do a branch so

there's multiple different kind of

options the great thing about the UAE is

obviously you know everyone here sees

the glitz and the clamor and everyone's

doing really well as we know and it's

all glamorous and great but it does

cater to everyone at all levels you know

whether you're a startup whether you're

expanding

um whether it's your 25th Branch around

the world there is an option for you so

with that being said obviously there are

different options for you know offices

warehouses if you're not that big and

you don't need that space yet we've also

got options which are really really cost

effective and means that you don't

necessarily need to get an office

depending on how many staff you've got

and you know how quick you plan on spend

expanding those kind of things so when

it comes to visas obviously as you guys

know you live here you're going to need

them but in terms of employee visas we

can help with those as well and that is

very flexible you know Growers you wish

to grow but a lot of the driving force

for a lot of people that are moving the

business here

as well as getting away from tax as we

know yeah um is for residency purposes

so even if you're just looking to set up

a business for the Visa there are

options there as well that have really

really cost effective and adding to that

how often does the person that's got the

Visa need to be in the UAE for The

Residency do they need to live here a

certain amount of time or how many days

a year do they have to be here so it's

not necessarily a daisy year situation

it's more a period of time that you have

to show that you've entered the UAE so

if you've got a Visa that's two years so

it's an investor or an employee visa for

example then you have to visit the UAE

at least once within a 12-month period

otherwise immigration will automatically

cancel your Visa right so it could be

you come in for two days but just

because you've entered that you have to

go through the immigration process and

the other thing that to kind of consider

from I think it was September they

released a new kind of initiative where

if anyone is outside of the UAE for more

than six months they have to reapply for

entry so it's like an online form and

you have to explain why you've not been

in the UAE for six months so we briefly

touched on Mainland free zone and

offshore obviously when people are

coming over setting up a business

they're thinking which option should I

go for is there a specific one that's

the best or what are your thoughts

that's a question that I get a lot but

it's very very kind of unique and

specific to the individual you know how

you're going to be operating the

business you guys mentioned earlier

about setting up a Mainland business

because you're operating from here so

that's exactly what we need to consider

when setting up something for someone if

it's purely international business you

know everything's online nothing's going

to happen in the UAE but you want to

live here you want to be able to invoice

from here then a free zone is 100 the

best way to go you know it's the

cheapest option it gives you your

residency allows you to operate from a

tax-free environment

still zero percent on free zone

international business anyway

but if you're someone that's gonna be

expanding the business in the UAE then

you absolutely have to look at the

mainland license you know you've not

really got a choice because that's the

only way you can operate locally

completely freely with no restrictions

you know Target government entities if

that's what your client base is going to

look like

it really really depends on the business

so there's not really a right or wrong

it's very unique to the business to the

person you know and what the kind of

short and long-term plans are so to

clarify if I was coming over moving to

Dubai I have an online business maybe I

do graphic design or social media

marketing for companies all across the

world but I want to live here yeah I

could probably do free zone yeah and

then say if I was coming here and

offering my services maybe as a

videographer actually working with

companies in the UAE going and filming

for them would that mean I'd have to be

a Mainland company because I'm doing

transactions with UAE businesses so that

there are such thing as gray areas as

well so someone like that could

potentially be deemed like a freelancer

you know and then they're working under

their license so for example if someone

wanted to come and do some content work

through you guys they could potentially

work underneath your license even if

they're like license is in a Mainland

license so this is what I mean it's all

very unique circumstance based so as you

guys know we'll have a long conversation

about kind of what the short-term plans

are what the long-term plans are what is

likely to happen you know situations

that might have a slight chance of

happening and then I can give this the

scenarios as well but yeah it's not

really a

question that's easy to answer just

because it is so individual yeah so guys

if you do have further questions on that

make sure to fill out your details in

the form below as shellin said

everything is so unique here so it's

best to just call her run through your

situation and you can obviously advise

what's best for them all right Charlene

so there's a lot of info there so if you

need to sum up again the main difference

between Mainland and Free Zone yeah so

the fundamental difference between the

two routes is

if you're doing international business

free zone is the way to go so a free

zone license will cover you for free

zone business and international business

a Mainland license leaves you completely

clear to work with anyone whether it's

in the UAE or internationally so you can

do business with other Mainland

companies government entities other free

zones and international businesses so

Mainland is the one where you've got the

most Freedom free zone is a bit more

restricted not always a bad thing again

depends on your business plan and how

you're actually going to be working

because that could definitely just

tickle the boxes yeah that makes sense

and once you set up let's say a free

zone yeah and then you decide that you

want to do more business here in the UAE

yeah can you change that license so

there's not necessarily a way to change

it because there are different governing

bodies so the free zone is its own

jurisdiction so you can either

have a branch of that existing free zone

or set up a brand new business which is

in the mainland that can get a little

bit complicated just because the name

might not be the same you have to go

through the process of getting a bank

account and everything set up again so

it's effectively like starting from

scratch but again this is why we have

such a big conversation at the beginning

on the kind of short and long term plans

because if this is something that's

likely to happen in the first year my

advice is going to be just Dive Right In

and do the license that you need so you

can just keep going because there's no

point in building the business and then

getting to a point where actually now I

need to close this and start again that

makes sense I have two more points to

add on this section

um we'll go into the costs more in

detail later but free zone is a more

cost effective way to set up the

mainland right

and then another question that I've had

from a lot of people coming here is the

setting up of bank accounts when you're

a free zone company versus Mainland so

is it known to be a lot harder as a free

zone company to get a bank account here

in Dubai

I mean to answer that simply yes you

know free zone is always a little bit

trickier we have well obviously I've

been doing this for a few years so for

me I've got my preferred free zones that

I recommend my clients and they're

always driving forces and normally the

main driving force is that exact point

you know making sure that you know I can

do the license quite easily for them get

them their visas that's fine but what is

the point if they cannot operate yeah so

for me the free zones that I recommend

sometimes they might not be the cheapest

free zones they're still more cost

effective than mainland of course but

they are kind of an all-round good

choice so you know ease of operating I

tend to try and find the ones that do

not require nocs do not require Office

Space

easier with the banking process those

kind of things so for me it's very much

important to think about the whole

journey rather than just setting up the

cheapest option and I always tell

everyone that because it's not just

about the initial costs for sure and I

think for us that's what was so helpful

about working with you guys is if we had

to set it up all on our own we would

have no idea but we had so much advice

and like you said thinking of the future

of the business too now moving on to one

of the main reasons people come to Dubai

of course that's the benefits so could

you run us through them yeah of course

so I think the one thing that the UAE is

famous for is probably the tax side of

things which is why a lot of us Brits

end up running here as we all know and

so corporate tax is still zero percent

for international business but they have

introduced from the 1st of June nine

percent corporate tax

frustrating for those of us that have

been here and experienced zero for so

long but obviously compared to the rest

of the world we're still the lowest tax

rate anywhere when it comes to personal

income we're still all safe which is

obviously great still paying zero

percent there's no capital gains or

anything else like that where we have to

consider kind of long-term tax issues

for us to ourselves individually

but from the the business perspective

like I said the nine percent is only on

local business anyway so and is the nine

percent corporation tax that's coming in

is that over a certain amount who wants

your business hits a threshold of like a

hundred thousand or so the threshold is

375 000 Dirhams okay

the details on that I'm not 100 sure on

we do have a tax and accounting team who

will be able to specify exactly which

income will be taxable what's going to

be exempt you know what the the levies

are those kind of things I'm not a tax

expert sorry guys but I can obviously

put anyone that wants to talk about that

side of things in touch with an expert

that will be able to run through those

things but the 375 is around a hundred

thousand US dollars so up to that is

zero percent and then over that

potentially yeah then there's some tax

implications that obviously just need to

be dealt with again not everything's

going to be taxed anyway if it's you

know the majority of the businesses

outside of the UAE that's going to be

exempt anyway it's just a case of doing

your annual Audits and making sure that

you know whatever's coming in is taxed

appropriately one of the other reasons

that a lot of people

you know end up coming over to the UAE

other than the tax and the Sunshine is

the fact that we are so strategically

placed you know in terms of doing

business

Europe Africa the Far East we have

access to so many markets and I think

obviously you guys will probably realize

a bit more as you operate more and more

in the region the reach here is just

incredible you know as well as the other

benefits that's something that really

really benefits a lot of the businesses

that set up here and expand into the

region another benefit of moving to the

UAE as Matt and I know is the lifestyle

which was a huge factor for us moving

here I mean firstly the sunshine is

incredible people here are amazing

there's so many people all around the

world make new friends and just meet

such different people we've met a lot of

entrepreneurs people setting up their

own business so it's great to surround

ourselves with like-minded people and

then also there's just like an endless

list of things to do here isn't there

there's so much I mean I think we're

coming into an era where if you set up

your business right you can spend time

in different locations and that's one of

the main attractions for me about being

here in Dubai especially with the

license like we've talked about earlier

in the podcast you don't have to be here

for all of the year and so what works

really well for summer is to spend part

of the year in the UK and Europe and

then part of the Year here in Dubai and

then you're really enjoying the Best of

Both Worlds and that for us so far has

been working so well like we love

spending time here we've met such

amazing people

um because it's in the center of kind of

the world we flew to Australia last year

that was a direct flight and then

obviously you get a direct flight to the

UK just yes great location on the map

with tax as well I know a lot of people

are looking at investing in property

here in Dubai so if you guys have

followed us for a while you know summer

and I have bought property in the UK in

a combination of in our personal name

and also in a company and it's a

question that often comes up around

being in Dubai you know should you

structure your property investments in

your personal name is there a more

efficient and smarter way to do it you

know incorporating it with a company

obviously we've got the benefits here of

no capital gains tax on the income as

well which makes massive difference if

you're an investor in the UK you know

all about that so perhaps you could tell

us some more about the best way to

structure setting up property in here

yeah absolutely

um so again this is going to be very

individual you know where the person is

a tax resident will massively impact

this but obviously for us back home with

properties over there we have to think

about capital gains inheritance tax as

well as the kind of short-term income

tax that we have to pay on rental income

so over here we don't necessarily have

the income issues so the day-to-day kind

of short-term tax issues aren't a

problem regardless of whether you own it

personally or not

but the the issues I think come up more

so for expats that aren't Muslim that

are in the UAE so for example

if I wanted to buy property here or you

wanted to buy property here it's more

the longer term so

everything will come under Sharia law so

the way kind of around that which a lot

of my clients will do is to set up a

passive kind of vehicle in an offshore

jurisdiction so like a holding company

or a foundation so a foundation sits

somewhere between kind of a trust and an

operating company so you've got a bit

more control over who the beneficiaries

are and that could effectively just be

wrapped around your properties here so

this is really good for I think all

expats in the UAE or anyone with assets

in the UAE whether it's a business

whether it's a property you know any

kind of assets at all can be wrapped in

this what that does is then gives us

control over our assets so Sharia law is

not automatic it's not a given you know

I'm not sure how many of your clients

will know much about how it works but

you know assets can get Frozen if

someone passes away which can be an

issue so for example if you guys get

married one day and then Matt was

unfortunately to die then that could

cause a problem

okay I've just gone down a very bad oh

no carry on I'm finding this really no

I'm finding this interesting okay fine

so for example if Matt was to pass away

um then that could cause a problem for

you so if all the assets are even if

they're in both of your names you've got

to consider what's going to happen

because you know the assets will be

frozen so even if there's a will in

place this kind of just gives you that

added layer of protection and he gets to

dictate you know if I pass away 50 of

whatever we've got is going to you end

off whereas you know Sharia law has some

different rules which us as westerners

aren't necessarily used to so you know

assets can be passed to family members

just because of

what sex they are regardless of whether

you've spoken to them interesting 10

years so for westerners who are now

living in the UAE

there's an extra layer of things that we

need to consider but it's also very easy

to protect ourselves from these things

it's just having the knowledge and

making sure that we do what we need to

do to

so can you set that up after you've

bought the assets or do you have yeah

absolutely that's within it okay so you

can if you've already got property here

and it's in your personal name and you

then want to change it over then

absolutely we can do that we'll just set

up the entity and then there's a

transfer but you're effectively gifting

it to yourself because it was founded by

you so say if somebody was coming over

to Dubai and they wanted to buy a

property yeah could they get a Visa

because they've purchased a property

yeah so what we've just touched on with

the foundations and holding companies

that wouldn't necessarily allow for this

route but if they did have at least one

property in their own name Equity needs

to be at least 2 million Dirhams which

is

400 000 550 yeah 500 something like that

um so if they were to own a property and

they've got that amount of equity then

we can actually apply for a golden Visa

so if it was a case of don't actually

need to set up a business I just want an

investment there I want to be able to

come backwards and forwards open a bank

account those kind of things then

absolutely there is that route and that

option when it comes to it and how long

is a golden Visa so golden Visa is 10

years validity which is the longest Visa

that you can get so obviously there's a

lot about citizenship by investment and

stuff around the world the UAE you can

never get the passport

right so I think you come through

marriage but I don't know much about

that so I can't really sell you quite a

SAT sorry

in terms of the actual residency that is

the longest that you can get

um which is great and it gives people a

bit more kind of freedom to come and go

as they please

um and just makes life a little bit

easier open a bank account get settled

in even if you're not living here

full-time come and go and you know you

don't have to do your medical tests

until

10 years down the line do you only need

to come into the UAE once a year is that

the same as the so the immigration rules

would pretty much be the same with all

visas anyway it's just more their

process and internal kind of system if

you haven't been in they're gonna wonder

why

um I'd have to double check if there's

anything kind of special with the golden

visas but typically most of the Visas do

allow you know do require you to at

least have visited once a year but as we

know there are worse places in the world

to have to go it's quite easy to come

here once a year and come here even once

for an amazing holiday yeah and does

that golden Visa is that easier to bring

your family in because obviously we've

mostly talked about it from a business

an individual perspective a lot of

people will be looking to bring their

family over as well so how do visas work

with bringing family so any Visa that

you get so for example if you are

married and you've got two children and

you want your whole family to be able to

come over here or at least have

residency you know whether you're living

here full-time or not

what would happen is for example if the

father set up a business or had a golden

Visa or had some form of Visa employee

whatever it is

that person can then sponsor his wife

and his children

very very easily so there's not really

any restrictions with that at all

um but the the main kind of thing is get

the first visa and then sponsor the

others so whatever length of time so for

example if someone got a golden visa and

they want to sponsor their wife and

their kids they would also get a golden

Visa they'd get the 10-year in line so

it would be like an extension of their

visa so the dad would have a golden Visa

wife and kids will have the same length

of time does the couple have to be

married to have the sponsorship or if

you've been like a partner for 10 years

is that legible

so unfortunately not there does have to

be the legal kind of agreement when it

comes to sponsoring the spouse so you

have to be married legally lastly I

think we'll cover sort of the experience

Matt and I had last year setting up our

business and what we kind of did in the

process so the first thing we did we

actually went into the office chat with

you guys talked about our business and

our goals for the future and then you

guys did all like the paperwork stuff I

don't know the the like legit stuff but

then we went to a notary was that right

a notary site why don't you explain what

the legal stuff is okay that's fine look

to be honest I don't really want to

delve too much into the legal stuff

because it's not something that people

need to get stressed out about or

overthink because we do as you know take

care of it which is why you don't know

what it's called or what was going on so

it's fine so obviously we have the

initial consultation as you've mentioned

as we spoke about earlier that is very

much to kind of understand you

understand your business understand the

driving force so that is for me probably

the most crucial part of making sure

that whatever we're going to do is the

right thing you know not only for the

next six months but for the foreseeable

future and if it's not then that's fine

we can obviously make a plan for the

kind of longer term as well so if we

know that this is something that's going

to suit you for the next 12 to 24 months

and we know that at that point

something's going to shift we can

pre-prepare I'm surprised I managed to

say that without a stumbling one thing I

loved about the process and you guys

sorted all of that for us we then went

to a notary to do some signatures we had

a driver come and pick us up when we got

to the building they showed us where to

go where to wait we definitely didn't

have to stress or worry about anything

it was a very hands-free experience so

that was one thing I loved about the

process it was very easy wasn't it yeah

and that initial conversation that we

had you mentioned we went into the

office but most people they can do that

on Zoom yeah do that over the phone it's

really I think what people might be

interested in is how much time you

actually physically need to be here yeah

because a lot of people were setting up

a business here would also have

businesses in other places they'll be

very busy you know as we are so let's

say they have a call with you and they

you know want to move ahead with setting

up like a Mainland business at what

stage would they need to come over to

the UAE to actually do the medical tests

and things like that yeah I think like

with the initial process that can be

done on teams face to face on the phone

most of our work gets done on WhatsApp

here as we are now used to very

different to the UK but now you know

there's so many ways of getting through

the initial aspect when it comes to

setting up the license as you guys know

most of it was over email a lot of the

kind of documents will be sent over

email will have a WhatsApp group to make

things kind of easier to understand if

you need to do teams calls or anything

we can do that during the process with a

Mainland license you guys will be

completely familiar the only time we

physically need you when we're doing the

license is for the notary because you

need to physically go to the government

office and sign everything

so we do have a way around that as well

so for people who are very very busy as

a lot of our clients are we do have ways

to get that done without them here via a

power of attorney so we do have options

for people that are very very busy that

process as you guys know will probably

take about two weeks on average

obviously depends on what the business

type is if there's an office involved if

there's external approvals so that can

vary but on average it's about two weeks

to kind of get the license issued at

that point we obviously start the Visa

process which you guys are familiar with

as well so you get to go and give some

blood and have an x-ray yeah so that was

really interesting

um very seamless experience though it

was very seamless

um so we had to we got picked up one

morning went to kind of a government

building and there was actually separate

areas wasn't there so you went to the

men's section I went into the women's

section maybe I waited for 10 minutes

then I had a little blood test or they

took the blood out and then got changed

into little blue kind of apron thing and

then had a chest x-ray

um and probably in and out within 30

minutes very seamless driver took us

back to our apartment and there was

another time where we had to give our

passports and they came and collected

them and then dropped them off so we

didn't even need to do anything for that

we just literally gave our passports so

was pretty seamless but that was about

it

yeah I mean look there's always going to

be some physical things that you need to

do but we do try and make everyone's

life as easy as possible where possible

especially if you're just moving here as

you guys know there's already so much

that you need to think about where you

can live how things work here setting up

bank accounts and getting into the swing

of 40 degree heat yeah every day and we

um we met the other day and we were

talking about just all of the other

things as well that you can help with so

it isn't just the setup if you if

someone is looking to move over here and

wants everything taken care of like from

finding a property yeah correct me if

I'm wrong helping with schools and all

that stuff can you we have a concierge

team so we can't physically do

everything in-house but we tend to have

contact so even if we can't coordinate

it we've got people that we can put you

in touch with for certain things if

there's like an overall relocation

package that you'd like the concierge

team will just kind of put something

together for you the great thing about

our company is we do have specialist

departments dealing with different

things like everywhere so the concierge

team are very much there to make people

like use life easier and touching back

on the process so once we did the

medical is that then when the Visa is

issued after that and then it's pretty

much the process is done and we can go

and apply for bank account so the

physical process the physical part of

the process is obviously the medical

yeah and then you pass your passport

over to one of our Pros they'll go and

deal with the the Visa side of things

and get all of that sorted before giving

you a passport back in your Visa or done

and tested so that part of the process

for someone that is not in the UAE for

any of the other process can be done

between five to ten working days depends

if you do VIP and what the process is

there but typically speaking if they

don't take any extras whatsoever they

would need to be in the UAE for two

weeks got it okay and we should touch on

how long it took us from start to finish

so from the moment that we went to the

office had a sit down to doing the bank

accounts which was actually probably one

of the most lengthy processes out of

everything and we did that once we had

our Visa it was around two two and a

half months I would say yeah

that was quite good because that worked

with our time frame obviously we were

new to the UE we're actually living here

here in Dubai for that time yeah so I'd

say if our goal was absolutely set the

business up faster than we could have

100 but it was actually like after the

first meeting let's think about how we

want to structure this let's spend some

time there's no rush if you want to take

a bit longer to figure it out and we

wanted to make sure we got the right

bank account so we visited several to

make sure we had the right setup you

know for us make sure we chose the right

bank which you guys helped with you

recommended the ones that are good to go

to that each have certain benefits so

like the banking side of things

obviously going to be a bit more painful

than it would be back home for anyone

but as you guys you know knew from the

beginning we manage your expectations

and let you know what to expect with

that side of things it's not going to be

like back home it's not you know here's

a company's house certificate here's my

passport can I have a bank account a

little bit more of a process here

because we are all guests in the country

so

that process will be handled by the

banking team they are amazing similarly

to the experience you would have had

with me I'm sure you would have had the

same experience with the banking team

you know have the consultation this is

the minimum balance this is the the

banks that kind of Pop to my head these

are the transactions that we're likely

to do you know whatever it may be they

will then guide you as they did with you

um and then take it from there but the

banking is probably the longest part it

is it's the Money Talks process where

the more you have the more your business

is going to do the easier it is you know

and you might have to go for a few

applications and different banks but the

great thing is obviously one you've once

you've established a trading history

here yeah you've done some good business

for a year or so you can always change

Banks if you prefer a different one at

the end of the day but I think the great

thing with digital Banks now is they all

have an app really that is what I was

about to jump into we've got some great

digital options now as well which lets

people get started probably quicker than

when you guys set up so nice we've

evolved a few days ago I put on my

Instagram story to ask me questions

about setting up a business here in

Dubai so we've got a few questions that

we're going to answer today so the first

question

which everybody wants to know because

it's about money and costs so how much

approximately do you need to set up a

business in Dubai yeah great question so

we want to get straight into the good

info so summer and I set up last year

process in its entirety took about two

months and we spent ten thousand US

Dollars on that and that was for

everything to be done we got a few like

upgrades in the package didn't we some

good VIP service so it doesn't have to

cost that um but the best person to

speak about that of course is Sheldon

just to clarify that we got a Mainland

company with two Visas underneath so the

Visas are the more expensive part and

obviously we had two of them under our

business but yeah tell us more about

well exactly that you clearly don't need

me here guys so

you are completely right so the Visa is

what brings the cost up so in terms of

the actual license themselves and that's

a business license what you need to be

able to operate the cost of those are

relatively cheap especially if we're

looking at a free zone so if we're

looking at a free zone license something

very basic maybe a creative you know

marketing agency or something like that

you can get something like that very

very cheap from like six thousand

Dirhams which is the equivalent to what

eighteen hundred dollars yeah

so in terms of the Visas it's just more

that side of things that bring up the

cost so if you're planning on living

here or if you're not but you want a

local bank account the Visa is something

that unfortunately we can't really avoid

um so yeah it's just it varies but you

can get a business license that's

relatively cheap anyway so you could get

the business license that's

less expensive than the overall cost but

then you can't set up the bank account

you can't do the business here so it

can't it doesn't make sense it's the

Visa that is kind of necessary yeah and

but look there are entrepreneur packages

where you get the business license and

the Visa which start from around

it's

16 000 Dirhams in the Free Zone again

that's not going to suit everyone

because of the type of business you know

how they're operating if they need more

than one Visa but if it's a One Visa

package then there are options which are

relatively cheap

next question for you shalin can you

move an already Trading Company from the

UK to the UAE I mean there are a few

follow-up questions I'd obviously ask to

that you know what is it what are they

planning on doing closing that one

moving it over but the short answer that

to that is yes you know if you want to

set up a subsidiary a branch or just

replicate what you've already got going

on then absolutely and following from

that um somebody's asked me how do I get

a visa for Dubai and to live here

without setting up a business so there

are quite a few options when it comes to

getting a Visa here the kind of simplest

one is an employee Visa so if you've

been offered a job over here you'll get

your employee Visa they'll take care of

everything provide you with medical

insurance all of those kind of things

and the other side of it is more kind of

a personal route so you know investor

visa property if you purchase property

and you want to go down that route you

can get golden Visa there's something

called a green Visa which has just been

released so there are other options when

it comes to visas but again it's just

going to depend on your circumstances if

you're an entrepreneur if you've

invested locally what your income is

that there's going to be different

routes and different options but

absolutely you can get a Visa without

setting up a business I wanted to ask

you because a lot of people I feel do

social media they're maybe influencers

or they have a social media business

where they can work online maybe they're

a graphic designer what would the be the

best route for them would they set up a

free zone company as a freelancer and

trade under that what would you

recommend this is a really difficult

question to answer without having some

more context so it depends on who

they're invoicing who they're targeting

how they're going to be operating you

know where's the money actually coming

from where are they physically going to

be doing things you know I know we had a

bit more of a personal conversation

about you guys and doing some filming

here so again if they're planning on

filming locally they will likely need

some external approvals to be able to do

so if they do go down that route the

free zone license is going to make it

that much harder so it really depends on

the business right so best thing to do

is basically just contact you yeah and

then you'll give them advice on where to

set up the business next question we had

was what was our biggest lessons that we

learned from setting up a business here

in Dubai yeah so one thing I would say

that I didn't realize would take so long

was setting up the bank account I do

feel like it's known here that the bank

accounts are quite difficult to do but

you basically we applied for a few then

we had to go into the branch and yeah we

finally did set it up but that was

definitely a lengthy process

yeah another lesson I would say is just

knowing that there is yearly costs

associated with running a business in

Dubai it's not just a one-time setup but

that's as to be expected it's just your

license renewal it's very easy to get

set up and maintain and I think the

costs again vary on what business type

you have set up and how many people you

have within that business another

question we had from you guys is around

what level your business needs to

already be operating at to move out here

or do you need to have something there

established do you need a minimum

Revenue amount so perhaps you could talk

to us about that yeah of course that's

really easy to answer the answer to that

is no no expectations you know the UAE

with all its Glitz and glamor is still

very much inviting and accepting and

very much has the platform for everyone

at all levels so whether you're starting

up and it's a brand new Venture you've

never had a business before and this is

your first time trying

you can definitely do that if you are a

Fortune 500 company by all means come

over as well

and somebody's asked is there a strong

freelancing scene in Dubai I'd say yeah

quite a lot of young people especially

coming out here we've met quite a lot I

think that that's it isn't it I mean a

lot of these questions are geared at

like the specifics of setting up but

when you're wanting to move somewhere

you've got to really think of of why

that is and you know it's like-minded

people it's living within a culture and

environment that you feel that you can

both enjoy and really thrive in and what

we found is opportunities are abundant

here everyone wants to do you to do well

they want to see you do well which is

not necessarily the same as everywhere

you know growing up in the UK especially

in a smaller town when you start to have

success not everyone loves it you will

get people that are a bit like oh that's

strange especially when you're young so

if you are young and you are getting

success obviously that's awesome for you

and if you want somewhere where people

around you are gonna

um you know be a priest of that I think

the body could be the spot next up we've

got a question from someone considering

living here in Dubai but working and

employed but online based job or UK

employer so is there something available

for someone like that so they did make

quite a few changes to visas obviously

we all lived through the joy that was

covered so there were quite a few

changes for people and you know as Dubai

opened up quite quickly in comparison to

other places they did make some

amendments to be able to get people to

come over here be able to work from here

so there are definitely options for

people who are being paid by overseas

entities and

visas that are outside of the norm I'm

not in the Visa team I'm not an expert

but we do have a division within the

business that can help with that side of

things so if anyone does want to kind of

go into more specifics about Visa

options and I can definitely put them in

touch with the right person next

question is do I need a business license

to rent out my home by an estate agency

when I'm not using it so maybe it's like

a holiday home he comes here a few times

so if it's going through an estate

agency then no not at all as long as

you've got a third party doing the

contracts doing the maintenance doing

everything else and absolutely not but

it's your own property anyway so even if

you're going in and cleaning it yourself

not really breaking any rules it's just

more the documents and the kind of legal

side of things last question is are you

accepting new clients to help set up

their business here I mean very short

answer to that is yes definitely no of

course

um a big part of our role is obviously

Consulting and bringing on more people

and helping them expand into the UAE so

yes if you need help get in touch we can

definitely vouch of how good it is

because Matt and I did it all last year

and we just wanted to bring you here in

so you can give us all your expert

advice because although we went through

the process we still don't 100 we can't

explain it super simply can we because

it's quiet the full authority to explain

on it and that's exactly why you're here

but it was really important to us that

we set up the business it's been a year

since then we wanted to try everything

ourselves before we recommended anything

or before we talked about it to you guys

so yeah we've hoped you enjoyed this

video

thank you for having me guys no worries

and thanks everyone for watching make

sure to like And subscribe and also the

Google form is down there if you do want

to chat with Charlene on the phone and

she can advise you on which kind of

direction is best for your situation

yeah thanks again thank you really

appreciate it thanks you guys for

watching uh hit the like button if you

enjoyed the video make sure to subscribe

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