Dubai’s business-friendly ecosystem streamlines the business formation process and registration with 100% foreign ownership and tax benefits. It provides a favorable environment for French businesses to start a business in Dubai from France, with direct access to a large and thriving market.
Additionally, the economic partnership between France and the UAE has allowed French traders to expand their global presence. Being one of those entrepreneurs, if you aspire to set up a flourishing business in Dubai, introduce yourself to this blog, which will walk you through the entire process of business formation in Dubai, types of business entities, along with the registration process, including how consultants can help with the whole process.
Advantages of Setting Up Your Business in Dubai From France
- Strategic Location and Market Reach
The geographical location of UAE connects France with the European, Asian and African continent making it an gateway for various (a better word) opportunities. This allows French entrepreneurs access wide market and expand globally.
- Tax Benefits
The Double Taxation Agreement (DTA) between France and Dubai gives significant tax benefits in relation to personal or corporate tax. With this, Dubai’s VAT tax is only 5% followed by complete tax exemptions to businesses operating in the free zones.
- Robust Infrastructure
The world-class airport and seaport infrastructure of Dubai allows French logistics firms, e-commerce companies to trade effectively with international markets with no barriers.
- Political and Economic Purpose
The long-term economic viewpoint in business has led the United Arab Emirates to develop in other sectors of the economy. Consequently, the business-friendly policies of Dubai will help French entrepreneurs to invest and start a business in Dubai from France with ease.
Common Structures for French Businesses Available in Dubai
- Free Zone Company (FZC)
A Free Zone Company (FZC) allows 100% ownership over the business, profits, and other benefits like tax exemptions and complete profit repatriation. However, businesses cannot deal directly with the clients residing in the mainland.
- Offshore Company
The offshore company structure provides 100% foreign ownership to French businesses. Its purpose is to provide for international trade and holding businesses.
- Limited Liability Company (LLC)
LLC permits 100% ownership to businesses operating within the mainland. It allows businesses to directly connect with the local market of Dubai, making it a great trade opportunity for French entrepreneurs.
- Sole Proprietorship
Sole Proprietorship refers to a business owned by one owner. Since 2021, it has been approved that business owners or freelancers have full control over their business. However, its owners are granted bounded protection from claims, and the liability for debts will be endured by the owner.
Complete Company Set-Up Guide for French Entrepreneurs
- Business Plan: Your first step towards business set up in Dubai must be a plan that will prepare a road map on how to operate in Dubai’s market that depends on local market analysis, and marketing strategies to upscale the long-term sustainable growth.
- Choose Business Activity: Choose the appropriate business activity, i.e., healthcare, finance, etc., that complies with the guidelines of the free zone authorities of Dubai or the Department of Economic Development (DED).
- Select Business Structure: Select your preferred business structure for determining the company’s operational scope, ownership, and taxation benefits.
- Select a Trade Name: Choose a trade name that does not violate any guidelines of the authority. Find a name that is unique and is not registered by other businesses.
- Apply to Get Initial Approvals: You will need initial approval from the government authorities, such as the Department of Economic Development (DED) or any other Free Zone Authority, to move further in the process. With this, do not forget the MoA, outlining the plans of the company.
- Get a Business License: Submit your application to the DED or Free Zone authority to get your business license. Before that, determine what type of license you need: a professional license, an industrial license, or a commercial license. The license approval is a quick process that usually takes 24 hours to get issued.
- Office Space: Choose an appropriate office solution for your business operation. From virtual office to physical and flexi-desk offices, Dubai offers extensive options to French business owners.
- You need a Corporate Bank Account: To open a business bank account in Dubai for business activities, you will need to follow these steps:
- Choose a suitable bank for your specific business activity.
- Gather necessary documents like a business license, passports, etc.
- Submit your application, and the bank account will be activated within 7 to 14 working days (as per the bank’s regulations).
- Apply for a Residential Visa: In the final steps, apply for the residency visas of Dubai. However, a French citizen does not need a visa to enter Dubai, but will require a business visa to start a business in Dubai from France.
The Benefits of Business Set-Up Consultants in Dubai
As a French entrepreneur, you understand that France’s business outlook is greatly influenced by its sense of purpose and intellectual fulfillment. Such philosophy in business needs business setup consultants of the same mind to streamline the process.
Business setup consultants in Dubai greatly affect the process of company formation. It streamlines the process and helps walk through all the legal and local regulations required to efficiently set up and operate.
- A business set up consulting agency cuts corners by handling all the paperwork required for company formation and registration.
- They have a good understanding of legal regulations that can help French entrepreneurs overcome any complications.
- They also help with licensing renewal and VAT registration.
- From acquiring a business license, legal trademarks to banking, they provide necessary administrative support.
- Their local market knowledge and resources are like parsley to your business, making the market analysis excellent and sturdy for the long term.
- Their experience and familiarity with jurisdictions (Free Zone, Mainland, and Offshore) across Dubai will help in selecting the best structure suited to your business.
Conclusion
The partnership of France and Dubai maintains a strong base across various economic sectors. This economic cooperation has made it easy for French nationals to set up businesses in Dubai seamlessly. In this blog, we have shed light on the landscape of setting up a business in Dubai from France. From the benefits that French businesses can have to the registration process. We hope this comprehensive blog on how to start a business in Dubai from France with the assistance of Start Any Business, a trusted business setup consultant in Dubai, will help you through every procedure.
Also Read: Complete List of IFZA Business Activities in Dubai
