company formation companies in dubai

bank

Dubai’s Top 8 International Offshore Banks for Business Setup in 2024

Dubai / / / , , , , ,

Dubai’s Top 8 International Offshore Banks for Business Setup in 2024 All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Dubai is not only a thriving international center for finance and commerce in Asia and the Middle East, but it is also widely recognized as a global business hub. It has strategic geographical advantages, futuristic infrastructure, and an environment conducive to business across various niches. Dubai has transformed from an oil trading nation into a dynamic financial center, making it one of the top Emirates in the UAE with a robust banking industry. As a prime destination for international banking, Dubai boasts an efficient and open regulatory framework. An international bank in Dubai can offer stability and confidentiality, which are crucial for businesses looking to expand globally. However, not all banks are suitable for every business, and the international label alone does not guarantee trustworthiness. Importance of Choosing a Bank for Business Setup Choosing the right bank is vital for any business. Almost all businesses require a credit source or other means of financing, and banks play a crucial role in economic stability. A reliable banking institution can secure funds, allowing businesses to implement strategies and grow effectively. Having a bank reduces reliance on cash, enhancing operational efficiency. It also provides businesses with access to credit, loans, and financial products that help manage expenses, such as supplier payments and salary disbursements. Additionally, banks can offer financial advisory services and strategic financial management to help businesses save and use surplus funds wisely. Top 8 International Offshore Banks in Dubai Here are eight offshore banks in Dubai that are known for their services and customer satisfaction: 1. HSBC Middle East HSBC Middle East is one of the largest banking and financial service providers in Dubai. It offers a wide range of financial services, including multi-currency accounts, international fund transfers, and wealth management. HSBC’s extensive network supports businesses with cross-border transactions and localized services. 2. Citibank Citibank has a global reputation for comprehensive banking services and a large customer base. Its Citigold Private Client division offers high-net-worth individuals a range of investment options and personalized wealth management services, including estate planning. 3. Emirates NBD Emirates NBD is a well-known banking facility in the Middle East, catering to high-net-worth clients and businesses. The bank provides custom wealth management services, investment options, and attractive loan rates while adhering to Shariah regulations. 4. Habib Bank AG Zurich Habib Bank AG Zurich (HBZ) offers corporate and trade financing, asset management, and personal banking services across major global financial hubs. Its digital financing facilities comply with regulations, providing tailored solutions for businesses. 5. Royal Bank of Canada The Royal Bank of Canada is one of the largest banks in Canada and offers a wide range of financial services in Dubai. It provides exclusive wealth management and investment services, along with attractive loan rates and insurance plans. 6. Noor Bank Noor Bank is an Islamic bank that complies with Shariah regulations. It offers comprehensive wealth management and treasury services, along with estate planning and strategic investment services for high-net-worth clients. 7. Dubai Islamic Bank As the first and largest Islamic bank in the world, Dubai Islamic Bank offers various financial services adhering to Shariah principles. It provides asset management, investment banking, and Islamic mortgage services, along with advanced digital banking solutions. 8. Standard Chartered Bank Standard Chartered Bank operates globally, focusing on emerging markets. It provides custom wealth management services and sustainable financing options, with a strong presence in Dubai and numerous ATMs across the UAE. Factors to Consider When Choosing an International Bank in Dubai When selecting an international bank in Dubai, consider the following factors: Reputation: Ensure the bank has a solid reputation and compliance with national and international regulations. Niche Expertise: Look for banks that specialize in your industry to receive tailored advice and financing options. Exchange Rates and Fees: Choose a bank with competitive exchange rates and transparent fee structures. Tax and Financial Perks: Consider the tax incentives and financial benefits that offshore banking can offer. Advantages and Limitations of Offshore Banking Advantages: Tax Incentives: Offshore banking can provide potential tax advantages. Asset Protection: Offshore banks can offer exclusive solutions for protecting assets. Attractive Interest Rates: Borrowing in offshore countries can often come with lower interest rates. Limitations: Regulatory Challenges: Offshore banking can involve complex international laws and compliance requirements. Anonymity Concerns: Recent regulations may impact the ability to maintain anonymity and tax advantages. Conclusion Choosing the right bank is crucial for expanding your business in Dubai. Inquire about the bank’s services and offerings to ensure they align with your business needs. Selecting a bank that provides comprehensive account management, currency exchange, and asset protection will help you navigate the dynamic global financial landscape effectively. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Dubai
organic farm

How to Start an Organic Farm in Dubai: A Simple Guide

Dubai / / / , , , ,

How to Start an Organic Farm in Dubai: A Simple Guide All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us he food industry in the UAE has grown rapidly, and Dubai is now a major city known for its great food. With more people wanting fresh, chemical-free food, there’s a big opportunity for entrepreneurs to start organic farms. If you’re interested in organic farming in Dubai, this guide will explain how to get started. Global Rise of Organic Farming Organic farming is growing all over the world. By 2019, there were over 3 million farmers in 187 countries practicing organic farming on 72.3 million hectares of land. In the UAE, organic farming is becoming popular too, with over 40 farms producing more than 60 organic products. This is driven by people wanting healthier food grown without harmful chemicals. Benefits of Starting an Organic Farm in Dubai Starting an organic farm in Dubai has many benefits: High Demand: People in Dubai are looking for organic products, giving new businesses the chance to grow quickly. Environmental Benefits: Organic farming helps protect the environment by reducing the use of harmful chemicals and pesticides. Local Sustainability: By selling locally grown organic produce, farmers can reduce transportation costs and carbon footprints, making it a sustainable business. Types of Farming in Dubai There are three main types of farming you can choose from: Fish farming (aquaculture) Raising animals (livestock farming) Growing crops (agriculture) Each type of farming requires a specific license. For example, fish farming needs an aquaculture license, while raising animals needs a livestock farming permit. Make sure you have the correct license for the type of farming you want to do. Steps to Start an Organic Farm in Dubai Pick a Farm Location: Choose a plot of land for your farm. The local municipality will inspect it to make sure it’s suitable for farming. Get Approval: After the land is approved, buy your equipment and prepare the farm. The municipality will check that your farm meets environmental standards before you can start. Get Organic Certification: You’ll need to get certified as an organic farm by the Emirates Authority for Standardisation and Metrology. Once approved, you can label your products as organic. Choose a Business Name: Select a unique name for your farm that follows Dubai’s naming rules. Make sure the name is not already taken and doesn’t include any offensive words. Apply for Licenses: Apply for an organic farming license with the Dubai Department of Economy and Tourism. You’ll need to provide important documents like your business plan and passport copies of the farm’s owners. Get a Residency Visa: To own and run a farm in Dubai, you must have a UAE residency visa. You can also apply for visas for any employees you want to hire. Documents Needed to Start an Organic Farm To start an organic farm, you’ll need: A completed application form for your organic farming license Documents like articles of incorporation and a description of your farm’s activities Proof of any qualifications or certifications Copies of passports for all business owners Conclusion Starting an organic farm in Dubai is a great opportunity. The demand for organic food is growing, and with the right licenses and certifications, you can set up a successful farm. Make sure to get help from experts like Tycoon Documents to guide you through the process, and you’ll be on your way to building a thriving organic farming business in Dubai. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Dubai
warehouse

How to Start a Storage and Warehousing Company in Dubai

Dubai / / / , , ,

How to Start a Storage and Warehousing Company in Dubai All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us My journey in the UAE began as part of a family with four generations of entrepreneurs. I’ve gained experience in business management, consulting, and digital marketing, and my family has always inspired me to pursue new business ventures. In this article, I’d like to share insights on starting a storage and warehousing company in Dubai, based on my own research and experience. Why Dubai is Perfect for a Warehousing Business Dubai is one of the world’s biggest trade hubs, with businesses in almost every sector. Every day, international and e-commerce trade is booming, leading to more demand for storage and warehousing solutions. After the COVID pandemic, the need for extra storage spaces has also increased, making the future of the warehousing industry in Dubai very promising. If you’re considering starting a warehouse and storage business, Dubai is an ideal place. The city offers a business-friendly environment, tax benefits, and growing demand, making it a great choice for entrepreneurs. Benefits of a General Warehouse License in Dubai Dubai’s high import and export rates create a strong demand for warehousing services. With a general warehouse license, you can offer solutions to many businesses across the UAE. Plus, the city offers a simple business setup process, a pro-business climate, and 0% taxes on corporate and personal income. Key Factors to Consider Before Opening a Warehouse in Dubai Before starting your business, it’s important to have a clear understanding of the whole project. Here’s what to focus on: Market Research: Learn about the warehousing market, key players, and income sources. Understand Documentation Requirements: Setting up a business in Dubai is easy, but it involves paperwork. Know all the necessary documents. Logistics Knowledge: Customs and clearance processes in Dubai can be complex. Many businesses hire consultants to handle this. Meet Customers and Suppliers: Face-to-face meetings are effective for building strong relationships and solving disputes quickly. Hire Skilled Workers: Dubai has a large labor pool. Hire the right people to ensure success. Create a Marketing Plan: A good marketing strategy helps bring in new customers and keep existing ones. Set Long-Term Goals: Developing long-term goals will guide your business toward steady growth and success. Step-by-Step Guide to Starting a Warehousing Business in Dubai Market Research: Understand the demand, key players, and possible locations for your warehouse. Define Business Operations: Decide on the services you’ll provide. Choose a Business Name and Economic Zone: Pick a unique name and decide whether to set up on the mainland or in a free zone. Trade Name Registration: Register your business name with the government. License Application: Submit the necessary license applications and pay the fees. Visa Application: Get visas for yourself, your employees, and your business partners. Open a Bank Account: Set up a corporate account to manage your business finances. Start Operations and Get Ongoing Support: Once everything is set up, begin running your business. Tycoons can offer continued support with compliance, expansion, and renewals. Essential Documents for Starting a Warehousing Business Business Plan: Outline your goals, strategies, and financial projections. Passport Copies: Provide clear copies of all shareholders’, directors’, and managers’ passports. Proof of Residence or Visa: Foreign investors need to provide a copy of their UAE visa or residency permit. No Objection Certificate (NOC): Required if the shareholder or director is already in the UAE. Trade Name Reservation: Proof of your business name’s registration. Initial Approval Certificate: Confirmation from the Dubai Economy or the relevant free zone authority. Memorandum of Association (MOA): A document outlining your company’s goals and shareholder responsibilities. Lease Agreement: A formal contract for leasing your warehouse space. Ejari Registration: A registration verifying your lease agreement. Approvals: Specific approvals may be needed based on the type of goods being stored. Best Locations for Warehousing in Dubai Dubai Commerce City: Focuses on e-commerce with modern infrastructure. Dubai South: Close to Al Maktoum International Airport, ideal for companies using air freight. SAIF Zone (Sharjah Airport Free Zone): Convenient for international trade and close to Sharjah International Airport. Hamriyah Free Zone: Great for businesses dealing with maritime freight, offering large-scale warehouse operations. Khalifa Industrial Zone Abu Dhabi (KIZAD): Offers excellent connectivity via air, sea, road, and rail. Ras Al Khaimah Economic Zone (RAKEZ): Located in the northern UAE, serving eastern and western markets. Activities for Warehousing Companies in Dubai There are many ways to make the most of a warehousing business in Dubai: Third-party Logistics: Offer services for product handling, storage, and delivery. Freight Brokering: Handle customs, insurance, and the transportation of goods by land, air, or sea. Warehouse Maintenance: Provide services like loading, unloading, sorting, and packaging. Customs Agent: Act as a customs broker to help businesses with customs procedures. Cargo Transportation: Use trucks, planes, and ships to transport goods. General Warehouse License Costs in Dubai The cost of a general warehouse license in Dubai starts at AED 30,000. The price may vary depending on whether your warehouse is for personal use or open to the public. How Tycoon Documents Can Help You Start a Warehousing Business Tycoon provides a wide range of business setup services for startups, small and medium businesses, and large corporations in Dubai. Here’s how they can assist you: Expert Guidance: Navigate Dubai’s business environment with advice from experienced professionals. Licensing and Registration: Get the right licenses and approvals easily. Documentation Assistance: Let experts handle the paperwork for you. Strategic Advice: Benefit from tailored strategies to ensure your warehouse business succeeds. Ongoing Support: Tycoon offers help with compliance, expansion, and renewals even after your business is set up. Starting a warehousing business in Dubai can be a great opportunity with the right guidance and planning. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Dubai
Creative City Free Zone Authority

Everything you need to know about Fujairah Business Setup

Fujairah, Umm Al Quwain / / / , , , , ,

Everything you need to know about Fujairah Business Setup All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Business Setup in Fujairah Fujairah, the only emirate that is located at the eastern side of the United Arab Emirates, has prominent business opportunities awaiting investors. The less-populated emirate out of the 07 emirates in the UAE, Fujairah has both seaport and airport. Thus ensuring better connectivity, ease of movement of support equipment/ raw materials, and the optimal possibility to export/ import products. Along with, adequately planned infrastructure and generous investment policies.   Although slow, investors are identifying the constructive factors that can be advantageous for setting up and functioning of the business. By utilizing the facilities provided by the government and establishing the right business, you can reap the best results in Fujairah. It is advisable to be among an initial lot of investors in the emirates. You can explore varying business options and markets to achieve the desired result and accomplish your dream. The federal authority has laid down certain regulations for Fujairah company formation. You can form a company in either Fujairah Mainland or Free Zone. 3 Types of Business Jurisdictions in UAE Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. Freezones in Fujairah Creative City Free Zone Fujairah Free Zone Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company in Dubai? Yes, foreign nationals can easily register a business in Dubai. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAEi? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Fujairah, Umm Al Quwain
UAQ FREE ZONE

Everything you need to know about UAQ Business Setup

Umm Al Quwain / / / , , , , ,

Everything you need to know about UMM AL-QUWAIN Business Setup All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Business Setup in UAQ Another business destination that provides excellent chances for corporate entities is Umm Al Quwain, which is situated on the west coast of the United Arab Emirates. For several companies, the Umm Al Quwain Free Trade Zone (UAQFTZ) created a new playing field. They came in droves to discover the great advantages of the emirate. Both big corporations and SMEs have praised UAQ for its business-friendly environment. There are no obstacles in the way of starting a company. The administration will provide outstanding assistance during the procedure. In addition to a system that promotes company expansion. The emirate has demonstrated optimistic aspects that businesspeople have yet to recognize. Tycoons is a company setup service provider in the United Arab Emirates that helps uncover UAQ’s growth potential. Numerous business firms have received our assistance in establishing their operations in the emirate. We are really happy to see them succeeding in their different industries. With the years of experience under our belts, we guarantee the greatest support for your business. 3 Types of Business Jurisdictions in UAE Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. Freezones in UAQ Umm Al-Quwain Free Zone Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company in Dubai? Yes, foreign nationals can easily register a business in Dubai. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAEi? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Umm Al Quwain
Ajman FreeZone

Everything you need to know about Ajman Business Setup

Ajman, Umm Al Quwain / / / , , , , ,

Everything you need to know about Ajman Business Setup All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Business Setup in Ajman Business setup in Ajman will be a profitable decision. You can establish a firm in either Mainland or Free Zone jurisdiction. Both domains have numerous opportunities for expansion. Ajman is the smallest of the seven emirates in the UAE. To accelerate the emirate’s development, its authorities have enacted rules and directives that encourage investment. It has identified the four essentials, which envision a significant improvement in the infrastructural, business, and organizational structures. Those will be considered while planning development activities and city plans. Ajman rulers envision improving the emirate by encouraging the spirit of togetherness, adhering to regulations that will be essential in constructing a green economy, formulating rules and regulations for a happy society, and promoting excellence in activities under taken by Ajman Government 3 Types of Business Jurisdictions in UAE Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. Freezones in Ajman Ajman Free Zone Ajman Media City Free Zone Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company in Dubai? Yes, foreign nationals can easily register a business in Dubai. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAEi? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Ajman, Umm Al Quwain
Golden Gate

Everything you need to know about Golden Visa

Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, Umm Al Quwain / / / , , , , ,

Everything you need to know about Golden Visa All VISA Related Services: Contact Tycoon Documents, Dubai Check Eligibility Contact us What Is the UAE Golden Visa? In 2019, the United Arab Emirates launched a new visa system for long-term visa holders. This is known as a Golden visa. This Golden Visa allows foreigners to live, work and study in the United Arab Emirates. The 2019 amendment hopes to attract new foreign residents, especially to Dubai. Read on to learn about the eligibility criteria and advantages of the UAE Golden Visa. The UAE’s ‘Golden visa’ is a long-term residence visa which enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits which include: an entry visa for six months with multiple entries to proceed with residence issuance a long-term, renewable residence visa valid for 5 or 10 years the privilege of not needing a sponsor the ability to stay outside the UAE for more than the usual period of six months in order to keep their residence visa valid the ability to sponsor their family members, including spouses and children regardless of their ages the ability to sponsor unlimited number of domestic helpers the permit for family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away. UAE Golden Visa Category   Investors Public investmentReal estate investment Entrepreneurs Owner of a registered startupApproved idea of a startupFounder of a startup that was sold outside or inside the UAE Exceptional talents Culture & ArtInventors & InnovatorsSportsDigital technology Scientists & Professionals ScientistsChief Executives & Senior OfficialsScience ProfessionalsEngineering ProfessionalsHealth ProfessionalsEducation ProfessionalsBusiness and Administration ProfessionalsInformation Technology ProfessionalsLegal, Social, and Cultural Professionals Outstanding Students & Graduates Best performing secondary school studentsBest graduates from UAE universitiesGraduates of the best 100 universities worldwide Humanitarian Pioneers Renowned members of international and regional organizations and associations of public benefitRecipients of awards in humanitarian fieldsVolunteers and sponsors of humanitarian efforts Frontline Heroes Frontline workers that show extraordinary efforts in crises, such as pandemics Advantages of Having a UAE Golden Visa You can work, reside, travel, and invest in the UAE You will hold a long-term renewable visa valid for 10 years You can sponsor yourself and your family members regardless of their ages You can sponsor unlimited number of domestic helpers You will be allowed for multiple entries followed by the issuance of residency permits You can stay outside of the UAE for any duration without having to nullify your Golden Visa. Allows your family to stay within the UAE until the end of the duration of the Golden Visa even in the event of the primary visa holder’s death. All foreign nationals holding a Golden Visa and having driving license from their home country can now take driver’s test without extra lessons Additionally, if the Golden Visa holders have a license from one of 32 approved countries, including the US, UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait, and Ireland, they will automatically be eligible for a UAE driver’s license You can have 100% ownership of any business started and operated in the UAE. All Golden Visa holders will be gifted the coveted Esaad Privilege Card for FREE Golden visa requirements Investors in public investments If you invest in an investment fund, you may be granted a Golden Visa for a period of 10 years without a sponsor, subject to the: submission of a letter from an investment fund accredited in the UAE stating that the investor has a deposit of AED two million, or submission of a valid commercial licence or industrial licence and a memorandum of association stating that the investor’s capital is not less than AED two million submission of a letter from Federal Tax Authority stating that the investor pays the government no less than AED 250,000 (two hundred and fifty thousand) annually.   Additionally, you must: own the invested capital completely; it must not be a loan and provide proof of medical insurance for himself and his family (if any). Real estate investors If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the: provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams purchase of a property with a loan from specific local banks approved by the competent local entity. Entrepreneurs If you are an entrepreneur, you may get a Golden visa for a period of 5 years, if you own an economic project of a technical or future nature based on risk & innovation. In addition, you must have an approval letter from each of the following: an auditor in the UAE stating that the project value is not less than 500,000 dirhams the authorities in the emirate stating that the project is of a technical or future nature an accredited business incubator in the UAE to establish the proposed activity in the country Outstanding specialised talents Outstanding specialised talents include: doctors scientists creative people of culture and art inventors executives specialists in scientific fields athletes doctoral degree holders and specialists in the fields of engineering and science.   Subjects relating to engineering and science include: epidemiology and viruses artificial intelligence big data computer engineering electronic engineering software engineering electrical engineering genetics and biotechnology engineering.   If you have an outstanding specialised talent, you may get a Golden visa for 10 years after meeting the requirements mentioned below for each category: Doctors and scientists an approval Letter from Ministry of Health and Prevention in the UAE to practice the profession of medicine (for doctors) a letter of recommendation from Emirates Council of Scientists or a letter from Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence stating that the applicant has been awarded the Medal of Scientific Excellence (for scientists).   Inventors

Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, Umm Al Quwain
pexels photo 1470502 1470502

Setup Your IT business in Dubai : Updated

Dubai / / / , , , , ,

IT Business Setup in Dubai Start an IT Business in Dubai  : 2024 Guide Apply Online Contact us How to Start an IT Business in Dubai? Here’s Your 2024 Guide  It’s natural to think of opening an Artificial Intelligence, Digital Marketing , IT or software company in Dubai in 2024 when everyone is talking about ChatGPT, the new kid on the AI block.  How to start an IT company in Dubai or a software business? There’s a whole host of reasons why so many business-oriented people from the world over are searching for answers to this question. 100% business ownership, liberal taxes, business-friendly policies, ease of doing business, advanced infrastructure, world-class economic zones, access to global talent, e-government system, tons of business opportunities, tourism-friendliness, diverse expat population and the whole nine yards, what else one needs to set up an IT business! So, let’s cut to the chase and learn the ropes.  Most-Preferred Free Zone to Start a Business in Dubai  The quick surge in the growth of UAE’s banking, IT, logistics, commerce, and media industries, among others all across the Emirates, is pretty visible. Thanks to the free zones that have presented a magnificent framework for luring marketing, trade, and investment prospects. At the moment, the country’s expanding private sector is mostly defined by its free zones. Dubai alone boasts more than 30 top-class free zones, comprising 30% of Middle East free zones. And Dubai Internet City (DIC) tops the list when it comes to setting up an IT company in Dubai.  Dubai Internet City  From a mixed bag of commercial spaces to multiple retail options to business setup support, DIC is a treasure chest of all the good things that a business might need to establish and thrive. “Innovation is a group endeavour, not the result of a formula. Participate to advance,” says Dubai Internet City, a tech community housing brilliant minds and businesses, such as Cisco, LinkedIn, Schlumberger, Microsoft, Oracle, Facebook, IBM, Dell, HP, Canon, Siemens, Sony Ericsson and Logica, collaborating to etch their names in history. Infamous as the region’s hub for innovation & technology #WhereMindsClick, DIC, without a doubt, is the best pick for an IT business setup in Dubai for a variety of reasons including:  Home to Fortune 500 companies  50-year tax holiday  foreign ownership overall  Total profit repatriation  Metro Ethernet environment access to top-notch personnel  Exceptional communications infrastructure decked up with 5-star hotels, restaurants, a business centre, a fitness centre, medical security and much more  Strategically located to facilitate logistics functions  Posh areas such as Dubai Marina, JLT, Barsha Heights, JBR and Umm Suqeim are in the vicinity  A range of commercial spaces, facilities, business services and more  A wide range of amenities and facilities to support the growth of technology businesses, including high-speed internet connectivity, business-friendly regulations, and a supportive community of like-minded technology professionals  Bustling with hundreds of IT services companies – Hewlett-Packard MENA FZ-LLC, Hitachi Data Systems Limited, Dell FZ-LLC, Deloitte Technology Consulting Middle East FZ-LLC, IBM Middle East FZ-LLC, Lenovo Global Technology Middle East and Africa FZ-LLC, Aces Solutions FZ-LLC, to name some of the top ones  Affordable commercial and residential space leasing options  Complete with comprehensive infrastructure for companies operating in the technology, media, and telecommunications industries  An array of facilities and services  A spectrum of educational and training programs such as workshops, and networking events to help professionals in the technology industry stay up-to-date with the latest developments in their field.  Overall, DIC is a key player in Dubai’s efforts to establish itself as a global hub for technology, innovation, and entrepreneurship. With its world-class infrastructure and supportive community, DIC provides a thriving environment for technology businesses to grow and succeed.  Dubai International Financial Centre  Best for FinTech,AI and Data Scienece Companies   Dubai Silicon Oasis Dubai Outsource City Most Freezones Support, IT/ITES Businesses  Click to View List of Freezones in Dubai       9 Steps to Start an IT Company in Dubai    Conduct market research Conduct market research: Research the market to identify the demand for the type of software you want to offer, as well as your competition. This will help you understand the needs of your target customers and ensure that there is a demand for your products or services.  Choose a business structure Decide on the type of business structure you want to establish, such as a sole proprietorship, limited liability company (LLC), or free zone company. You can consult with a local lawyer or Dubai business advisor to help you determine the best option for your company.  Name and register your company: Select an appropriate trading name to register your IT business in Dubai with the respective authority. Department of Economic Development (DED) is the competent authority for mainland company registration. You will need to provide information about your business, including its name, location, and type of activity.  Obtain a license Depending on the type of software you want to offer; you may need to obtain a license from the Dubai Creative Clusters Authority (DCCA) or the Dubai Silicon Oasis Authority (DSOA). Get necessary permits and visas Obtain any necessary permits and visas for your employees, including work visas, residency visas, and trade licenses.  Set up your office: Choose a suitable location for your office and set up your physical infrastructure, such as computers, telecommunication systems, and software. Hire employees: Recruit employees, including software developers, designers, and support staff, as needed.  Establish your brand: Develop a brand for your company and create a marketing strategy to promote your software products or services. Launch your software or IT products Pitch your software products or services and start generating revenue.  It’s important to note that the process of starting a software company in Dubai may vary depending on your specific business and circumstances. It is recommended to seek professional advice from a reputed local business consultant or one of the best corporate service providers in Dubai like Tycoon Documents to ensure you are following the procedure in line with the UAE regulations . Documents Required for Software Company Setup in Dubai Mainland  To set up a software company in Dubai, you will need the following documents:  Business plan: This outlines the purpose and goals of your software company,

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How to Setup a Business in Dubai:FreeZones,Mainland and Offshore

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Business Setup in Dubai All Business Setup. Corporate PRO, VISA Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Company Formation in Dubai: At a Glance Dubai has emerged as a highly desirable destination for businesses worldwide. It has played a pivotal role in the growth of some of the most prominent business firms globally. The federal laws in the United Arab Emirates have created a favorable environment for starting businesses, making Dubai an optimal choice for anyone aspiring to achieve significant success in the business world. 100%Ownership Access to International Markets Huge Tax Benefits Safe and robust governance No physical office requirements The city boasts well-developed and superior infrastructure, offering an ideal atmosphere for businesses to thrive. With regulations that facilitate unlimited business activities, no currency restrictions, the flexibility to operate from any part of the UAE, streamlined processing of employment visas, and no limits on the number of visas, Dubai’s mainland stands out as a preferred location for business setup. Tycoons provide comprehensive services for mainland company formation in Dubai, ensuring a straightforward and efficient setup process. For those preferring greater operational independence and specific incentives, establishing a business in one of Dubai’s 50 free zones is an excellent option. Tycoons’ business setup consultants guide clients through selecting the optimal free zone, obtaining necessary licenses, setting up office space, registering trademarks, and managing accounting services, ensuring a seamless setup process in free zones like Dubai Silicon Oasis and Shams free zone. Entrepreneurs seeking international reach and tax advantages can explore offshore business setup opportunities in Dubai. Tycoons facilitate offshore company formation, providing support across mainland, free zone, and offshore setups. They manage documentation, application processing, and ensure compliance with regulatory requirements, all at competitive costs. The cost of starting a business in Dubai varies based on factors such as company type, license type, visa requirements, and location. Tycoons offer affordable business setup packages tailored for both free zones and mainland areas, addressing needs from office rentals to visa processing and beyond. Tycoons’ business setup services in Dubai encompass comprehensive support, including licensing, bank account opening, trademark registration, and more. Their expertise ensures smooth handling of the intricate procedures involved in obtaining business licenses and visas, with meticulous attention to detail to avoid delays or rejections. Whether it’s mainland, free zone, or offshore business setup, Tycoons Business Setup Consultants in Dubai deliver impeccable services, making the dream of establishing a business in the UAE a reality. Their commitment to client success and efficient service delivery makes them a trusted partner for businesses navigating the complexities of starting operations in Dubai.     Mainland Freezone Offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. Things You Should Know TO SETUP BUSINESS IN DUBAI Steps Requirements Documents Steps   Confirm the location, where you want to establish the business. Decide the jurisdiction, i.e. Mainland, Free Zone, or Offshore. Get a reliable local sponsor.( If you need,100% Ownership allowed) Fix a trading name and obtain approval. Formulate the legal structure of the business. Obtain additional approvals from ministries and departments, as required. Prepare all the documents necessary for the license. Apply in the defined format for a business license. Apply for Visa and Emirate ID  Apply for Corporate Bank Account            Requirements   A commercial License is necessary for carrying out commercial activities including real estate, trading, construction business etcetera. An industrial license authorizes you to mold, manufacture, assemble, and other production processes. Professionals such as artisans, and tutors need to possess a professional license to establish a professional business in Abu Dhabi. A tourism license is required for undertaking travel and tourism businesses. This type of license is further subdivided according to the area of operation. The individuals, who are envisioning to use their intellect in business must obtain an occupational license     Documents  Passport copies Visa copies NOC Proof of address MoA and AoA Trade name reservation Passport sized photos Relevant permits and approvals   Dubai Freezone List Freezone Dubai Maritime City Dubai Commercity Dubai South Dubai World Trade Centre Dubai Design District Dubai Science Park International Humanitarian City Dubai Multi Commodities Centre Dubai Outsource City Dubai Silicon Oasis Dubai International Financial Centre Dubai Internet City Meydan Free Zone Dubai Healthcare City Dubai International Academic City Dubai Production City Dubai Studio City Dubai Media City Dubai Financial Services Authority (DFSA) Gold & Diamond Park DAFZ INDUSTRIAL PARK DUBAI AIRPORT FREEZONE Dubai Knowledge Park Dubai Auto Zone (DAZ) Jebel Ali Free Zone Expo City Dubai Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company

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