The United Arab Emirates is one of the world’s most powerful and stable countries, and its economy has grown substantially over the past several years. Years of hard work, dedication, and a willingness to adopt cutting-edge technologies have resulted in the UAE’s current position as a prominent commercial and trading hub.
Estimates say that artificial intelligence will add $9.6 billion to the economy of the UAE by 2030, which is about 13.6% of its GDP. The UAE government has been putting in place several policies to encourage technology that affects the future and society, such as artificial intelligence and blockchain. The UAE has put a lot of money into these industries, which shows how eager the country is for digital change. You have reached the right place if you are wondering about how to own a business in the United Arab Emirates from anywhere in the world.
Now you can start and run your own business in UAE from anywhere in the world with the help of the best business consultant in UAE. Call us now to start your journey!
What is a Virtual Office in Dubai?
A virtual office in Dubai is a business address where overseas investors can enjoy the advantages of having an office address in the UAE at a significantly reduced cost. The idea is to enable business owners to have their employees work remotely while still reaping most of the benefits of having a physical office or staff. It allows them to send and receive mail, as well as answer the phone and receive letters.
The majority of virtual office users are startups, freelancers, and small businesses with inadequate space requirements for employment.
Advantages of a virtual office in Dubai:
- Save costs on office rentals, space, furnishings, internet services, and electrical and technological equipment.
- You can operate your business 24 hours a day, seven days a week, without restriction, saving you time and allowing you to be more flexible and avoid long leases.
- You will not need to assign an actual person to operate in a virtual office and go with automated machines instead, hence reducing your staffing needs.
- Kick start for startups – Small businesses and startups with limited funds for office or space rental should consider this alternative.
Who May Obtain a Dubai Virtual Business License?
To be qualified to apply for a Dubai virtual company license, overseas entrepreneurs must satisfy a set of requirements. While contemplating the acquisition of a Dubai virtual license, you may wish to keep some information in mind:
- The candidates for a virtual commercial license in Dubai cannot be UAE residents.
- The Dubai Virtual Comercial City(VCC) website contains a comprehensive list of eligible and ineligible countries. They must be a citizen or tax resident of one of 101 countries. Germany, France, Finland, the Netherlands, India, Pakistan, Saudi Arabia, the United States, Canada, Russia, China, and Japan are among them.
- In Dubai, only location-independent commercial operations belonging to predefined sectors are permitted for virtual firm owners. These sectors include, among others, printing and advertising-related service activities; computer programming, consulting, and related activities; and fashion, jewelry, and interior design-related design activities.
- In addition to these predetermined norms, companies registered in Dubai under a virtual commercial license will be subject to the taxation regulations (corporate/individual income/social taxes) of their home country. This can however be avoided by registering for a double taxation avoidance agreement and applying for a TRC, which we will be glad to do for you.
- Businesses operating in Dubai under a virtual business license are needed to register with the UAE’s Federal Tax Authority if their yearly turnover within the UAE exceeds $100,000 and are liable to pay the UAE government a 5% value-added tax (VAT).
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How to Apply Online for a Virtual Company License in Dubai
The owner of the overseer’s business must submit an application for a Virtual Company License in order to launch a virtual enterprise in Dubai. The steps for applying for a Dubai Virtual Company License are listed below.
Register the business(Online Registration)
To start the virtual company registration process, go to the official website of Dubai Virtual Commercial City. You must complete the online company registration form here. You will need to provide information such as your name, contact information, date of birth, passport information, and any prior experience you may have had with Dubai. Along with specifying the intended business activity, the owner must also give the company’s trade license name.
Upload the documents
The following documents need to be uploaded next. The Virtual Company License documentation requirements are shown below.
- Proof of address (any utility bill or official letter, not more than 3 months old)
- Evidence of tax residence/ Residency Visa
- A recent photo on a white background
Confirm the status of Your Virtual Company's License Application
Following application submission, the provided information will be sent for authentication. Background checks are used by the Dubai Government agencies to authenticate parties. It can take up to a month to complete this virtual company license verification phase, so be sure that the provided information is correct. The owner will get an email after the screening process letting them know if their application was accepted or rejected.
Verify Your Identity at VFS Global
The owner will need to visit VFS Global in person for identification and passport verification after gaining authorization. VFS Global requires that all visits be scheduled in advance using their website or email at email@example.com. It is necessary to pay a service fee of AED 300(EUR 80) plus any local taxes in the chosen nation for this stage.
Pay the Cost
Owners are required to pay the Dubai Virtual Company License fee. The charge may be paid through ePay, the official payment gateway for the VCC, which is made available by the Dubai Government’s Smart Dubai. Based on the license validity choice made during the online company registration, this Virtual Company License price is determined.
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Virtual Businesses that You can Start in UAE
The following three industries should be represented by businesses operating under a Dubai virtual business license: The creative, technical, and service industries.
- Book binding services
- Typographic services
- Providers of color separation services
- Design and creative services
- Services in the production and distribution of greeting cards
- Organizing promotional items
- Programming, consulting, and similar activities
- Information Technology & Communications related
- Design of equipment software
- Programmable electronic chips design
- Social Media Application Design & Administration
- Cyber security framework
- Community networking services
- Services for the management of cyber risk
- Auditing, reviewing, and testing cyber risks
- A provider of managed cybersecurity services
- Promotion of services using social media
- Imaginative Design
- Design Fashion
- Jewelry Craft
- Design Companies (interior design, garden design)
- Calligraphers and Artists
- Industrial Design
In conclusion, business in UAE can be set up and run without any hiccups provided you follow all the norms and regulations set by the government. The UAE government always supports entrepreneurship and business development becoming a commercial hub in the middle east.
You can also hone your talents as an entrepreneur and keep your company afloat by enlisting the assistance of one of Dubai’s most reputable business consultancy firms. Please get in touch with us for further assistance and information. A&A Associate guarantees that your virtual business set-up will be made hassle-free. Contact us now!