The cost of setting up a company in Dubai for Iraqis is a major factor to take into consideration when Iraqis consider entering the world of entrepreneurship in the thriving emirate of Dubai. Dubai is an ideal destination for ambitious entrepreneurs seeking to explore investment opportunities and build successful companies in a dynamic business environment.

An essential aspect to consider is the cost of setting up a company, which includes several important elements. Fees for registering the company and obtaining the necessary licenses from government agencies in Dubai are an essential part of the cost. These fees vary depending on the type of company, size of capital, and type of business.

In addition, the cost must take into account the costs of legal and financial advice, as expert consultants play a vital role in ensuring that the correct legal procedures are followed and full compliance with legislation is achieved.

The costs of preparing the necessary documents for company registration, such as legal documents, partnership contracts, and corporate agreements, cannot be forgotten. All these documents require the cost of preparing them correctly and completely.

In short, the cost of establishing a company in Dubai for Iraqis includes several important elements, including registration fees, consulting costs, and costs of preparing the necessary documents. With good planning and the use of financial and legal advisors, Iraqis can accurately determine the cost of establishing a company and be prepared to build a sustainable and successful business in Dubai.

The cost of establishing a company in Dubai for Iraqis

The cost of establishing a company in Dubai for Iraqis

The cost of establishing a company in Dubai for Iraqis varies based on several factors, including the type of company, the size of capital, and the supporting services you may need. There are some basic expenses that must be taken into account when calculating the cost of establishment, including:

1. License fees: This includes the registration and business licensing fees that you obtain from the Department of Economic Development in Dubai. These fees may vary based on the type of company, size of capital, and business activity.
2. Virtual Office Fees: If you do not have a private office in Dubai, you may need to rent a virtual office or work space. This fee is an additional expense.
3. Fees for legal advisors and lawyers: You may need to consult a lawyer or legal advisor to help prepare the contracts and legal documents necessary to establish the company. You may incur consulting costs and legal fees.
4. Bank account fees: You may need to open a company bank account at a local bank in Dubai. Account opening fees and minimum deposit may vary based on the bank\’s specific policy.
5. Additional administrative services fees: You may need additional support services such as tax and accounting consultations, trademark and patent registration services, etc. These services are optional and incur additional costs.

It is important that you contact our experts to obtain accurate details about the expected cost of establishing your company in Dubai for Iraqis. Changes in fees and legislation may also apply, so you are advised to check current and up-to-date information for accuracy and completeness.

Procedures for establishing a company in Dubai

The procedures for establishing a company in Dubai require following a series of specific steps. Here is an overview of the basic procedures:

1. Choose the company type: Before starting the establishment process, you must determine the type of company you want to establish, such as a limited liability company (LLC), a company in free zones, or a public company, and this depends on the business activity and your needs.
2. Choose a company name: You must choose a unique and appropriate name for the company that complies with local regulations and laws in Dubai.
3. Identify shareholders: The shareholders must be identified and their percentage of ownership in the company determined, in addition to determining the company’s organizational structure.
4. Determine the headquarters: The company\’s headquarters must be determined, which complies with local regulations and business requirements.
5. Submit application and documents: The application to establish the company must be submitted to the competent local authorities, along with the required documents such as the registration application form, partners’ deeds, and approved signatures.
6. Obtaining the necessary licenses: You must obtain the necessary licenses and permits to practice commercial activity, and these licenses vary according to the type of company and commercial activity.
7. Signing contracts and agreements: A shareholder meeting must be held to sign the necessary contracts and agreements, such as the articles of incorporation and company bylaws.
8. Final Registration: After all requirements are met, all documents are submitted to the relevant authorities for the final registration of the company and receipt of the Certificate of Incorporation.

Types of companies that you can establish in Dubai

Here is a table showing the types of companies that can be established in Dubai:

These are some of the common types of companies that can be established in Dubai. Please note that this list is not exhaustive and other types of companies may exist depending on individual circumstances and requirements.

Commercial permits in Dubai

Business permits in Dubai vary according to the type of business activity you wish to engage in. Here are some common business permits in Dubai:

• Apparel and Fashion Trading Permit: This permit requires permitting the trade of clothing, apparel, sportswear and related accessories.
• Food Trading Permit: This permit is granted to businesses that want to sell food and beverages in Dubai, including canned, fresh and processed foods.
• Electronics and electrical appliances trade permit: This permit allows companies to trade electronics and electrical appliances such as mobile phones, home appliances, computers, and tablets.
• Jewelry and Precious Stones Trade Permit: This permit allows companies to sell and market jewelry, precious stones, and precious and precious jewelry.
• Construction and building materials trade permit: This permit allows companies to trade construction materials such as cement, bricks, wires, and other construction tools.
• Industrial Equipment and Machinery Trade Permit: This permit is granted to companies that wish to import, export and distribute industrial equipment, machinery and heavy equipment.
• Logistics and Shipping Trade Permit: This permit allows companies to provide logistics, shipping, warehousing and distribution services.

Establishing a company in Dubai

Basic papers for establishing a company in Dubai

To establish a company in Dubai , you will usually need a set of basic papers and documents that must be submitted to the relevant local authorities. Here is a list of basic papers you may need:

1. Registration application form: The company registration application form must be submitted to the competent government authorities in Dubai.
2. Memorandum of Association: Partners \’ memorandum specifies the legal and financial basics of the company, including the names of shareholders, their percentage of ownership, type of business activity, and investment capital.
3. Articles of Association: The Articles of Association specify the rules and regulations that govern the company’s operation, including the powers of the board of directors and shareholders and procedures for distributing profits and managing the business.
4. Certificate of Application Submission (Certificate of Incorporation): This certificate is issued after the necessary applications have been submitted, reviewed and approved by the local authorities, and officially proves the establishment of the company.
5. Company Establishment Certificate: This certificate is issued as proof of the establishment of the company, and contains information about the company name, type of business activity, shareholders, and capital.
6. Necessary business licenses: You may need additional licenses related to the company\’s activity such as health licenses or environmental licenses, depending on the type of business.
7. Additional Incorporation Documents: You may need additional documents depending on the type of company and the requirements of local authorities in Dubai.

Taxes required to establish a company in Dubai for Iraqis

In the United Arab Emirates, including Dubai, there are no direct taxes on the income of companies or individuals in most business sectors. However, there are certain taxes and fees that may apply to businesses in some cases, which may include:

• Value Added Tax (VAT): VAT was implemented in the UAE in 2018. This tax is levied at 5% on most goods and services in the country. VAT registered companies must prepare periodic reports and submit them to the tax authorities.
• Consumer Goods Taxes: Taxes may apply to some luxury items such as luxury cars and jewelry.
• Government fees and licenses: Businesses may have to pay fees to obtain the necessary licenses to conduct business activity, such as business licenses, building permits, and others.
• Other government fees: Some other government services may require fees to be paid to the government, such as visa fees and business registration fees.

In conclusion, the cost of establishing a company in Dubai for Iraqis is one of the main factors that should be taken into consideration when planning business in the Emirates. Company start-up costs vary based on several factors such as the type of company, business size, and required legal and consulting services.

Company formation costs in Dubai include government fees and legal costs, such as company registration fees, trade licenses, and work permits, and these costs can vary depending on the type of company, its location, and the expected business size.

In addition, costs may include operational space costs, such as rent and office space, advertising and marketing costs, and staff recruitment costs if necessary. These costs should be part of overall financial planning to successfully establish and operate a company.

It is essential for Iraqis wishing to establish a company in Dubai to cooperate with specialized local financial and legal advisors, to provide advice on expected costs and sustainable business planning. With good planning and comprehensive consultation, Iraqis can achieve their business goals in Dubai successfully and profitably.

The most important frequently asked questions about establishing a company in Dubai for Iraqis