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COST OF STARTING A BUSINESS IN DUBAI

FREEZONE, MAINLAND OR OFFSHORE
WHAT ARE THE COSTS OF SETTING UP A COMPANY IN DUBAI

Once you are sure about the type of company that suits your business model. you can get a brief overview of the costs of the various company formations in Dubai below. There are only two possible company models and the most popular variant, especially among our European and American customers is, by far. the Freezone company. This form of company is ideal if you look after customers worldwide and your main business is not being conducted within the Emirates.

But if you want to run a restaurant or beauty salon in Dubai, for example, then you need a mainland company. The UAE government has recently made major changes here. partially simplifying the company formation process and reducing the formation costs. Also, a local partner or local agent is no longer required for most activities. The Emirates are increasingly becoming a business metropolis and many companies are relocating their business to the Emirates or opening branches here, not just for tax reasons.

TAM, a service provided by German-Emirati, is an official partner of various major Freezones and we received multiple awards for best Agency in the past few years. We provide exceptional service but with very competitive pricing.

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TRANSPARENT PRICES
COST DUBAI FREEZONE COMPANY

The cost of starting and running a Freezone company in Dubai depends on the visa allocations and the Freezone itself. There are considerable price differences from Freezone to Freezone. There are currently 45 Freezones in the UAE but most of them have the same activity list and offer similar packages. Therefore it is difficult for prospective new owners to choose the right Freezone. We have worked with most Freezones and will setup your new company in the Freezone that offers the best value for money and has the fastest processing time. You will benefit from our extensive experience over the years. Another very important factor is the bank account opening. With many Freezone Companies it will be next to impossible to open a company account.

DUBAI FREEZONES NOW CHEAPER
There are good news. In previous years it was cheaper to setup your Freezone company in neighboring Emirates like Sharjah. Fujairah or Ajman. This is not necessary anymore as the Freezones in Dubai have adjusted their prices and it is only slightly more expensive to have a prestigious Dubai Freezone. We highly recommend to setup your new company in Dubai. It not only has a much faster visa processing time (5 days compared to 21 days in Sharjah). it is also easier to open a corporate Bank Account for a Dubai Freezone. The cost for a Freezone company formation in Dubai will start at about EURO 5000 for a 1 Visa License (setup service not included). In other Emirates this figure lies between EURO 3000 and EURO 4500 but often the very cheap offers have higher renewal costs.

DO I GET A CORPORATE BANK ACCOUNT WITH A FREEZONE COMPANY?
Yes, even though in early 2022. the requirements to open a corporate bank account in the entire Emirates were tightened yet again, it is still possible and all our clients were able to open a bank account within 3 months with their Dubai Freezone company. But to get the coveted bank account nowadays works only if one of the partners or the General Manager holds a valid UAE residence visa. This means that you must get a residence visa and Emirates ID along with your license from the Freezone unless you are already a UAE resident. This visa is valid for the entire UAE but you don't have to live here of course. The bank account can be opened in selected banks and as our client you will receive extensive information in which bank to open, how to do it and what documents are required, or you let us handle it with our add-on bank packages (starting from EURO 1000).

DO I HAVE TO LIVE IN THE UAE?
There is no mandatory yearly timeframe that you have to stay in the UAE. It is only mandatory to visit the UAE every 6 months in order to keep the Residence Visa valid.

WHAT IS THE CHEAPEST TOTAL PRICE FOR A FREEZONE COMPANY IN DUBAI?
The total cost (including setup service) for a Dubai Freezone company starts at EURO 3500 for a License with o Visa eligibility. However, this setup only makes sense if the owner or General Manager of the new company is already a citizen of the UAE and has a residence visa because the residence visa and the Emirates ID are the main requirements to open a corporate bank account. The total cost for the most popular license with 1 visa eligibility starts at EURO 6900 (including setup service and limousine service during visa process).


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FROM EURO 7,000
MAINLAND COMPANY COSTS DUBAI AND ABU DHABI

The following cost breakdown refers to a Mainland Company formation including the license, virtual office space, one residence visa and all other related charges. In general. all the emirates, such as Dubai or Abu Dhabi, have quite similar rules and regulations regarding the establishment of a Mainland Company.

COST BREAKDOWN 1st YEAR
License Fee: EURO 3000'
AoA. Establishment Card and Labor Card: EURO 700
Office contract: EURO 1800 (not applicable if you rent your own office)
Residence Visa: Euro 950 (3 years validity)
Emirates Setup Service Fee: from EURO 1500
TOTAL: FROM EURO 7950

In Abu Dhabi there is an additional fee of EURO 1500 for the E-Channel.

*For General Trading activity, the authorities charge an additional fee of AED 20.000

COST BREAKDOWN 2nd YEAR
License Renewal Fee: EURO 3000*
Office contract: EURO 1800 (not applicable if you rent your own office)
Emirates Setup Service Fee: from EURO 600
TOTAL: FROM EURO 5400

*Fees are dependent on the chosen activities and the nature of the business

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FROM 10,000 AED
COSTS OFFSHORE COMPANY

If you are planning to open an Offshore Company in Dubai it is vital to know that it is virtually impossible to obtain a corporate bank account with this type of business model.

In recent years the UAE government. in cooperation with the Central Bank of the UAE, has put an end to various wrongdoings and Imoney mo laundering efforts by not issuing bank accounts to non UAE residents. The biggest difference between a Offshore firm and Freezone firm is the fact that with an Offshore company you cannot obtain a UAE Residence Visa.

Some agencies still claim that it is possible to get a bank account and will let you submit your papers to the bank. But that is pure theory and you will find out after months of waiting that you have run into a wall and wasted your money.

Since the founding costs of an offshore company are only slightly cheaper than that of a Freezone company, the demand for an offshore firm has fallen next to zero.

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