Guide to starting a business in Abu Dhabi 2023
Abu Dhabi is one of the best places to form a company. It has an easy connection with different foreign economies, in addition to its own booming market. Setting up a small business, like a vending machine business in the UAE, is relatively simple and also takes little time. However, you may need the help of an advisor like us, Connect Services Middle East, to simplify these procedures even more. In this article, you will learn about the necessary steps to establish a business in Abu Dhabi. This emirate offers a series of benefits for foreign investors. Among these, is the fact that the UAE has the lowest taxes in the world for companies. Likewise, the government has taken a series of measures that encourage foreign investment, such as the possibility of 100% foreign ownership. 1. Why establish your business in Abu Dhabi? There are many advantages of forming a company in Abu Dhabi. In the first place, it is one of the locations with the best economy in the UAE, in addition to being a safe place for entrepreneurs who want to invest from anywhere in the world. It also offers great transparency and flexibility for new investors. Below are some of the most important advantages of forming a new business in Abu Dhabi: The location of Abu Dhabi is very important for it to be one of the best places to start a business. It has a privileged location between Europe, Asia, and Africa, which makes it easier to enter foreign markets. Abu Dhabi is a very flexible place when it comes to foreign ownership. It offers a tax exemption whether they are business or personal, which is a competitive advantage to establishing a company. A free market economy. Therefore, there are no restrictions and controls at the exchange or commercial level. Abu Dhabi is an emirate with a first-class quality of life. Its facilities are among the best in the world, whether in terms of medical care, housing, recreation, education, among others. This makes it an attractive place not only at a business level but also residentially. 2. What are the steps to starting a business in Abu Dhabi? Starting a business in Abu Dhabi is a decision that offers many benefits. However, mistakes in the business creation process can result in future problems for the business. For this reason, it is important to have the services of an expert company formation partner, like Connect Services Middle East, to start your business in Abu Dhabi on the right foot. Here are the steps to start your business in Abu Dhabi: 2.1 Determine the object of the company It is important to determine the type of commercial activity that your business will carry out. This is extremely crucial since based on this, the requirements that the company must meet will be established. Also, it will be possible to determine what type of licenses are necessary to perform the commercial activity without any problem. 2.2 Find a local sponsor Under UAE regulations, foreign companies require a local sponsor. This sponsor is a company or service agent owned by UAE citizens. On the other hand, a local sponsor will facilitate the obtaining of licenses. In this way, the new business can carry out its commercial activity. 2.3 Decide the legal form of the company The rules and regulations are different depending on the form your company takes. Therefore, it is necessary to determine the commercial structure that your business will have. 2.4 Register the company name The importance of the company name lies in the fact that once it has been registered, no other company can use it. 2.5 Get initial approval Any foreign entrepreneur must obtain approval from the General Directorate of Residency and Foreign Affairs – Abu Dhabi before starting the process to establish a new company. 2.6 Get special approvals Many companies, depending on their purpose, must obtain approvals or special permits, for which this process must be completed before the competent authorities in the matter. An important point is that this new company registry, together with any license, must be requested through a single system. This system will work for almost all types of business licenses and services. 3. Benefits of creating a company in Abu Dhabi The procedure for setting up a company in Abu Dhabi is easy if you know all the requirements. Also, there are many benefits to doing business in Abu Dhabi, and understanding these advantages will help you get the most out of your investment. These are some of the most important benefits of starting a business in Abu Dhabi. For the registration of a Limited Liability Company (LLC) in Abu Dhabi, it is easy to obtain a business license, visas, lease of business premises, and open a bank account The investor can become a shareholder of the company. The investor can carry out the administration of the company without the permanent interference of the local partners. Better freight cost compared to other emirates. These advantages make it easy and lucrative for any investor to start a business in Abu Dhabi. But for a person who does not know this market at first, it can be complicated. For this reason, having the services of a consultant like Connect Services Middle East will make your investment even more lucrative. Our company will advise you on the most attractive investment areas found in the market, and more. 4. Business formation in Abu Dhabi It is necessary to know the company formation regulations in Abu Dhabi in order to establish a company in this place. To do this, you must take advantage of the required licenses. There are the commercial configuration modalities of the Free Zone in Abu Dhabi or the commercial configuration in Mainland Abu Dhabi, which you can choose according to your type of business. 4.1 Free zone companies in Abu Dhabi The Abu Dhabi Free Zone offers a number of business benefits in different sectors. Setting up a free zone
