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Dubai is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai. Located in the eastern part of the Arabian Peninsula on the coast of the Persian Gulf, Dubai aims to be the business hub of Western Asia. It is also a major global transport hub for passengers and cargo. Oil revenue helped accelerate the development of the city, which was already a major mercantile hub. Today, less than 5% of the emirate’s revenue comes from oil. A center for regional and international trade since the early 20th century, Dubai’s economy relies on revenues from trade, tourism, aviation, real estate, and financial services. According to government data, the population of Dubai is estimated at around 3.38 million as of January 2020.
One of the decade’s most progressive cities, Dubai’s growth has been characterized by great economic transformations. Business-friendly policies and strategic investments in ultra-modern infrastructure create a high-quality business environment that makes Dubai the center of Middle East economy. Iconic projects like The Palm, Burj Al Arab, and The World reflect the unique mindset and vision of Dubai.
Dubai’s safety and cosmopolitan lifestyle is well-known. For four consecutive years, Interpol has ranked Dubai as the safest city in the world, where crime is virtually non-existent. Meanwhile, Dubai modern lifestyle has set it apart from the conservative perception in the region. Dubai is now recognized as a favorite holiday destination as well as a centre of business excellence. The presence of Fortune 500 companies already in Dubai, like IBM, Microsoft, Oracle, and Cisco, attests to the region’s stability.
Factors which contribute to making Dubai the fastest-growing city in the world are:
Free Zones in Dubai
Frequently Asked Questions
Free Zone Companies are registered and listed with a Free Zone Authority (e.g DMCC). A DMCC Free Zone Company does not require you to have any Local UAE Citizen Partner and can be 100% owned by any foreign citizen and/or company.
DMCC Free Zone companies can be registered as an Individual, Branch, and/or Subsidiaries of Local UAE or Foreign Companies.
Yes, you can choose any name yourself. However, the registration will go through the DMCC Authority and Dubai Economic Department approvals.
The number of employees you can hire depends on the Office Space you lease. If you require more visas than the allocated number, additional fees are applicable. At Mayfair Executive Office, you get 3 Visas and 1 PIC per office, regardless of the size.
It is mandatory to acquire a facility upon issuance of the License. You can either rent or buy a Flexi Desk, Serviced Office, Physical Office, Retail Space and Warehouses or Open Land for Industrial Units.
Having an office facility is a mandatory. DMCC Free Zone companies are only allowed to have an Office Facility inside DMCC Free Zone in Jumeirah Lakes Towers (JLT).
DMCC provides three types of visas: employment visa, dependents residence visa, and business visit visa.
The amount of the Share Capital varies depending on the chosen activity. A minimum required Share Capital for a Service/Commercial Trading License is AED 50,000; and AED 1 Million for General Trading. This amount must be deposited in the company’s bank account and once Share Certificate is issued by the bank, money can be withdrawn thereafter.
Yes, you can and there is a wide variety of good banks to choose from.
Yes, you are allowed to trade locally and internationally but subject to the Rules and Regulations of DMCC Free Zone.
The documents and the company setup costs will depend on the activity chosen. To get a better idea about the costs involved, click here.
Company formation in DMCC has a minimum processing of 3-6 weeks. However, the speed of approvals will depend on the chosen activity, certification and attestation requirements.
Yes, Park Avenue Offices has a team of professionals well versed with the DMCC rules and regulations and will help you with all documentations and procedures.
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