Business in the UAE in 2024: How to Open a Company

Pauline Familara
Pauline Familara
13 November 2023
Business in the UAE in 2024: How to Open a Company

The UAE has created ideal conditions for doing business, attracting entrepreneurs from around the world. Which activity area is better to invest your capital in? Where should you start a business in the UAE in 2024 (which of the 7 emirates)? This is a subject that concerns and interests people who decide to develop their business in the Emirates. We analyzed the UAE business ecosystem and are ready to provide answers to these questions in our article.

Doing Business in Dubai and Other Emirates in 2024: Pros and Cons

The main arguments in favor of registering a company owned by a foreign investor in the Emirates are the following:

  • Loyal tax system.
  • Modern and reliable banking system.
  • The possibility of obtaining a resident visa and UAE tax residency status.
  • Remote company opening — in the UAE in 2024 it remains possible not to obtain an entry visa at the registration stage.
  • No exchange controls.
  • Favorable geographical location and developed infrastructure.
  • Stability in the economy and politics.

Company registration in Dubai and other emirates in 2024 has the following cautions:

  • The need to know and comply with Sharia laws, the traditions of the Islamic state, and federal and local laws (emirate and free zone).
  • Strict reporting for companies registered outside free zones.
  • The ability to conduct certain types of business only if there is a business partner who is a citizen of the UAE.
  • Difficulty in resolving business conflicts with local businessmen.

Popular Regions for Registering a Company in the UAE in 2024

The following free zones of the emirates are the most popular and promising regions for starting a business in the UAE:

  • Dubai — Jebel Ali FZ, Dubai Silicon Oasis, Dubai South FZ, Dubai Multi Commodities Centre, Dubai Airport FZ.
  • Abu Dhabi — Abu Dhabi Global Market, Masdar City FZ и Khalifa Industrial Zone Abu Dhabi.
  • Ajman — Ajman FZ.
  • Ras Al Khaimah — RAK Investment Authority и RAK Free Trade Zone.
  • Sharjah — Sharjah Airport FZ и Hamriyah FZ.
  • Fujairah — Fujairah FZ и Fujairah Creative City.
  • Umm Al Quwain — Umm Al Quwain Free Trade Zone.

Priority Sectors for Business in Dubai and the UAE 2024

This year, the most profitable activities in the Emirates are the following:

  • IT technologies and artificial intelligence (AI).
  • Food and industrial goods production.
  • Agriculture.
  • Logistics.
  • Real estate.
  • Pharmaceuticals and healthcare.
  • Cleaning, event, and entertainment services.
  • Tourism and hotel business.

As before, a foreign investor can open a company in Dubai in 2024 — a local one (outside the free zone), an onshore company in a free zone, or an offshore company. The cost of its registration will depend on many factors.

Our article is for informational purposes only and cannot be considered a substitute for a full consultation. For details on how to open a company in Dubai in 2024, you can consult with the specialists of Dynasty Business Adviser.

  • "Business regulations - The Official Portal of the UAE Government". Retrieved 2022-10-19.

  • Full foreign ownership of commercial companies - the Official Portal of the UAE Government

  • "United Arab Emirates profile". BBC News. 14 November 2012. Archived from the original on 27 November 2020. Retrieved 20 February 2023.

Frequently asked questions

Why Do Entrepreneurs Open Businesses in the UAE?

The reasons that encourage foreign entrepreneurs to open a business in the UAE include, first of all, the soft tax policy of the state. The companies in free zones are offered a zero rate on all taxes for a period of 15 to 50 years and a large selection of free economic zones in all 7 emirates of the country. The possibility of obtaining tax residency status allows you to significantly reduce the costs of doing business and invest money in its development. In addition, in the Emirates, there is no foreign exchange control by the state and there is the possibility of unhindered withdrawal of capital and profits. There are many more advantages such as favorable geographical location, political and economic stability, a developed banking system, and others.

Who Can Start a Business in the UAE in 2024?

A legal entity or individual who is a resident of any country can start a business in Dubai and other emirates in 2024 if they can confirm the level of their income and provide information about the sources of their receipt. Today, most activities, even when registered on the mainland (outside the free zones), do not require a local partner who would own 51% of the shares.

What Are the Best Industries for Business in the UAE in 2024?

Activities related to high technology, IT industry, agriculture, industrial and food production, logistics, real estate, cleaning and event services, tourism, entertainment, and hotel business are the most profitable and promising for doing business in the Emirates in 2024.

How Much Can You Earn in the UAE in 2024?

Earning opportunities in the UAE are unlimited for entrepreneurs. Your earnings will depend on the chosen type of activity, the funds invested in it, and the innovativeness of the business idea — whether it can compete with an already operating business.

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