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Dubai continues to attract global entrepreneurs with its strategic location, tax-friendly environment, and ease of doing business. If you’re a foreign investor planning to set up your business in Dubai, here’s a comprehensive breakdown of the process: Step 1: Choose Your Business Activity The type of business you want to run (consulting, trading, e-commerce, etc.) determines the kind of license you need. Some activities are regulated and require special approvals (e.g., legal, education, healthcare). Step 2: Select the Right Jurisdiction Dubai has three main business jurisdictions: Mainland: Allows business across the UAE and internationally. Suitable for companies requiring local market access. Free Zone: Offers 100% foreign ownership, tax exemptions, and sector-specific benefits. Ideal for exporters and service providers. Offshore: Mainly for holding companies or international trading without operating in the UAE market. 💡 Tip: Each option has its pros and cons—choose based on your target market and ownership preferences. Step 3: Choose a Company Name The trade name must comply with UAE naming regulations (no offensive or religious terms, etc.). It must reflect your business activity and be unique.  Step 4: Apply for Initial Approval This is a green light from Dubai’s Department of Economy and Tourism (DET) or Free Zone authority, allowing you to proceed. You’ll need a passport copy and basic application form. Step 5: Finalize a Business Location Mainland: Requires a physical office space (can be virtual/shared depending on activity). Free Zones: Offer flexi-desks, smart offices, or warehouses depending on your needs. Step 6: Submit Legal Documents & Finalize Licensing Documents typically include: Passport copies of shareholders MoA (Memorandum of Association) Lease agreement or tenancy contract Board Resolution (for corporate shareholders) Once submitted, the trade license is issued. Step 7: Open a Corporate Bank Account Choose from local banks like Emirates NBD, ADCB, or international options like HSBC. Banks require full company documentation and may request a business plan. Step 8: Apply for Residency Visa(s) Once the company is established, you can apply for your investor/residency visa. Also allows you to sponsor visas for employees and family members. Step 9: Register for Corporate Tax (If Applicable) As of 2023, a 9% corporate tax applies to businesses earning over AED 375,000 annually. You must register with the UAE Federal Tax Authority (FTA) if eligible.  Step 10: Maintain Compliance Ensure timely renewals, annual audits (if required), VAT filings, and economic substance compliance. Some businesses also need UBO (Ultimate Beneficial Owner) registration and AML compliance.