Below you will find all the Frequently Asked Questions (FAQ) about Setting up your Business in the UAE Free Zones and secure your residency permit to legally live in Dubai, Abu Dhabi or everywhere else in the United Arab Emirates.
This FAQ is divided in the following sections:
In this section we will answer all the questions regarding UAE Taxes:
Yes, all companies are required to register for Corporate tax. It is mandatory.
Corporate tax is filed annually – 9 months after the financial year end of the company.
All partners would be registered under this company however only one would be the authorized signatory for the company per the Federal Tax Authority (FTA of the UAE) decision.
VAT registration is mandatory once the threshold of 375,000 AED of taxable supplies is crossed. Once crossed the entity has 30 days to register for VAT.
If VAT registration is granted by the FTA then the client will be required to submit quarterly VAT returns. The FTA reserves the right to issue fines where deadlines are missed for registration or returns filing.
Yes, both Corporate tax registration and VAT registration services are available at CompanySetup-UAE.com
In this section we will answer all the questions regarding Business License in the free zones of the UAE.
If your office is in mainland through an NOC, your license is still in under a Free zone and, therefore, your taxation is still under the Free Zone rules.
IFZA has more than 10 buildings and plenty of space therefore, IFZA does not offer any NOC.
Yes, if you operate a business involving gold, silver, or precious stones, you are required to have a dedicated office that is secured with a key-lock. Additionally, the office must be equipped with a security camera that is connected to a central security system.
The whole process from Business setup, visa and bank account opening, between 7 to 10 days.
License: 5 days.
Visa: 2-3 days.
Bank accounts
Corporate
License 5 days
VISA
- IFZA: 10 hours per week.
- IFZA plus: Unlimmited hours per week.
Residence Visa - FAQ
- IFZA: Between 2-3 days.
A pre-approval clearance is a process facilitated by the UAE government to obtain preliminary approval for a visa application. This step ensures that no issues will arise during the final issuance of the visa. It is particularly recommended for individuals from high-risk nationalities. The process typically takes about two weeks, but it can range from 3 to 30 days depending on the specific case. The cost for this service is AED 500.
Yes, pre-approval is mandatory for certain nationalities classified as high-risk by the government. This includes nationals from the following countries:
Nigeria (mandatory), Syria (mandatory), Bangladesh, Pakistan, Cameroon, Libya, Lebanon, Egypt, Iran, and Saudi Arabia. For Russian nationals, while pre-approval is not mandatory, it is recommended.
Bank Account - FAQ
The process of opening a corporate bank account typically takes between 7 to 10 days.
It takes between 5 minutes to 24 hours depending on the bank.
Health Insurance - FAQ
Yes, health insurance is mandatory in the UAE.
It depends on your role within the company:
- Investor/Partner: No, you can establish your company in the UAE without health insurance. You may obtain health insurance after the company is created, even after your residence visa has been issued.
Employee: Yes, you must have health insurance to apply for a residence visa. Without proof of health insurance, your residence visa application will be denied.
No. Each partner can have a different insurance type level.
No. Each employee can have a different insurance type level.
No. Dependents of a partner shall have the same insurance type level.
No. The application of a free zone insurance is limited to its Free Zone. The partner and employees of a free zone company can not be insured by an external insurance company (nor any other free zone).
You can have both corporate insurance and a personal insurance plan simultaneously. However, corporate insurance is usually tied to the same free zone. For personal insurance, you may need to review the policy details and application process with each insurance provider to ensure compatibility and coverage.
