Wael Abdulkader

The UAE Business Set-up Guide was a unique value offering presented by Creative Zone earlier this year and hailed by the UAE entrepreneurial community. What made the team initiate this proposition?

With the UAE growing rapidly as a global commercial hub, and a key business base for several global and regional entities, we found a lot of gaps in information distribution and a general lack of understanding about the UAE’s business ecosystem, company rules and regulations, and lifestyle. We wanted to bridge that gap through this guide, so that entrepreneurs can get a head start and make better choices.

What are some of the highlights of the UAE Business Set-up Guide?

The UAE Business Set-up Guide provides entrepreneurs and business owners with the vital information they need when considering to set up and operate a business in the UAE.

The guide seeks to answer some of the most important questions investors have regarding their business, starting from company incorporation, labour laws and other human resource regulations, sales and marketing, tax and accounting, intellectual property protection, compliance to scaling, and funding opportunities.

Could you share some recent critical amendments or changes in laws and guidelines governing business set-up that entrepreneurs hoping to set up business in the UAE need to be aware of?

The UAE has introduced several new legislative changes to set up a business in the UAE. Some key ones include:

The UAE Companies Law - The most important changes made to the UAE Companies Law allows 100 per cent foreign ownership in most of the business activities. With this change, a new UAE mainland company (as opposed to a free zone company) can be owned by an expat. Additionally, a foreign company was not allowed to establish a new branch in the UAE without having nominated a UAE national as a local service agent. Now, branches of foreign companies licensed in the country can be changed into a commercial entity in the UAE.

In another landmark reform, foreign investors are allowed to establish a single shareholder LLC company. Earlier, this provision was reserved only for UAE nationals. However, the change applies only if the activity of the company does not fall under the strategic impact list.

The UAE Commercial Transaction Law - The law has narrowed criminality in matters concerning cheques.

Digitalisation Law - This aims to bring in an enhanced digital infrastructure and a unified digital platform to support the integration of economic data for business sector services in the UAE.

Trademarks Law - It allows for accelerated procedures and quicker issuance of licenses. In addition, the trademarks database will now be made a public registry with open access to all. Prior to the amendment, a trademark search was a paid service.

3 best business set-up packages from Creative Zone

Free Visa for Life with Any Standard Free Zone Trade License. Starting from Dh16,750

Offer Includes:

l Standard Trade License and 1 Visa Package

l Standard package includes General Trading, Specific Trading, Services, Consulting, and more

l Trade License with one visa allocation / quota

l Immigration card service and cost

l Free visa can be utilised for either investor or employee

l A one-time E-Channel Registration fee of AED 2,525 to be paid in addition to the above-mentioned price

Free VIP Package Worth Dh9,000 with All Multi-Year License Packages for Mainland and Free Zone

Offer Includes:

l Corporate Bank Account Setup

l Premium Office Address at Downtown Dubai

l PO Box Number

l Mail and Courier Management Services

l Co-working Space

l Express VIP Medical and Emirates ID Services

l One-time Tax and Accounting Consultation, and more!

Media Business License for Dh5,750

Offer Includes:

l Free Zone Trade License, with 1 Year Free Lease Agreement

l 100 per cent Foreign ownership

l Combination of up to 3 Business Activities

l Access to Co-working Spaces and Meeting Rooms

Call 800-LICENSE or visit creativezone.ae