In the past, setting up a business in Mainland Dubai required one to partner with an Emirati National. It would be a process getting the right person to partner with, therefore a business setup would take longer to kick off. A lot of uncertainties too would have to be lurking in your mind as an entrepreneur. These are such as what if the partner backs off midway, or in case of death, what fate shall befall the business. However, this law has been put off and re amended by the president of UAE, Sheikh Bin Zayed Al Nahyan. The new law allows expatriates to own and run their businesses with full authority without having to partner with an Emirati National. This law nevertheless exempts several sectors that would still require the partnership to be in place.
The sectors under this 100% ownership regulations are as follows:
This applies to you if your area of specialization involves giving out services to the public. These services can include legal consultations, veterinary services, technology activities, accounting, translation services, electrical and plumbing, landscaping, ship towing, and many more. However, to be able to carry out these activities, it is required that you get the relevant licensing documentation. There are also set up limits as to the extent you can practice some of these activities. In the case of legal consultations, you cannot be able to present before a UAE court as well as be a part of judicial administration boards.
If your activities are related to the agricultural nature, then you may be in luck as this is another area granted 100% ownership freedom. The activities include the growth of fruits, beverage crops, pharmaceutical related crops, grain cultivation, seed processing, animal production, forestry activities amongst other agriculture-related activities. Some of these activities require you to have a set minimum capital amount to be able to initiate them. There are set regulations too for you to follow. These are such as using modern technology measures and contributing to the various researches and developments. Your activities must be of value addition nature as this will ensure continuous growth to the country’s economy. License’s from relevant authority is a crucial must-have document as it shows you have the right to practice your endeavors.
This is if you deal with the production of commodities either for commercial or consumer-related purposes. The granted processes are such as manufacturing of dyestuffs, textiles and leather products, man-made fibers, metals excluding precious related ones, electrical and electronic commodities, and many more activities in the manufacturing industry. These activities require you to have a set amount of capital ready for investment as stated by the UAE regulations. The business must be adding value to the economy as well as be ready to make development and research contributions related to your niche. You have to be able to utilize the use of modernized equipment in the running of the business. A valid license is also a basic must-have for the proper execution of your activities.
This will allow you to set up your health care service firm in the UAE and be able to run it fully without seeking a local sponsor. However, there are limitations as to where you can set up the firm because the Dubai Healthcare City is federally owned. This exempts it from the list of 100% ownership warranted areas to set up your firm. Your business is to be approved after considering the availability of the service you are to offer in your vicinity. Valid licensing procedures are to be observed as the UAE is keen to offer quality services to its people.
These are some of the professions that you can indulge in if you are looking to start or expand your business in the UAE. There are quite some luring benefits that you get to enjoy as an expatriate conducting business in the country. These are like low or no operating taxes, your firm will be recognized as a national company, no business harassment shall befall your entity, no expropriation, repatriation of business earnings without much trouble, and many more benefits. Therefore running a business in the UAE will prove to be a better choice for you in your career growth process.