Denis (43 years old) and his wife Yulia (32 years old) approached our agency for assistance with registering a company in the UAE.
During a personal consultation, Denis shared with our specialist that he had previous work experience in the hospitality industry at a Dubai hotel. Given the instability in Russia, the family started considering starting their own business and obtaining UAE residency. Denis decided to establish a company in Dubai providing cleaning services to individuals and corporate clients.
After assessing the local business practices aimed at the domestic market, we agreed that such an enterprise could succeed, as the majority of UAE residents simply lack the time for cleaning. Our client required preliminary cost assessments for starting the business, as well as legal assistance from GARANT IN specialists to navigate the local legislative requirements.
Budget Evaluation
Starting a small business in a UAE free zone is not cheap. Furthermore, annual company maintenance costs must also be considered, averaging about $12,000. At the initial stage, Denis planned to invest $20,000. We decided to check how realistic this was.
Based on an estimate for one of the economic zones, we provided the following calculations:
- Application submission and registration fee: $2,750
- License acquisition: $5,500
- Company registration services: $550
- Registration of the establishment card and its annual renewal: $1,930
- Opening a local bank account: $1,400
- Creation of a company seal: $140
- Setting up a P.O. box: $285
- Office rental: $7,000 annually
- Employee visa costs (for 1 employee): $1,000
The total came to $20,555, which met Denis’s budget expectations. The client also requested assistance in finding rental housing for his family, which added an additional $2,850 to monthly expenses.
Additionally, Denis and Yulia have two school-aged children. In the UAE, expats pay for private schooling. We found a reasonably priced private school for the children, with an annual tuition fee of $11,000 per child.
After the client approved the preliminary budget and selected a free zone, we proceeded to the next steps for obtaining Dubai residency through business establishment.
Stages of Company Setup
The process of company establishment can be broken into the following stages:
- Collecting, translating, and notarizing documents.
- Obtaining a commercial license from the free zone.
- Selecting an insurance provider and obtaining coverage.
- Traveling to the UAE for biometric submission, residency visa issuance, and establishment card registration.
- Opening a corporate bank account.
While the legal formalities for company registration typically take around 10 days, opening a bank account in Dubai is a much lengthier and meticulous process.
Initially, we requested the following personal and financial documents from Denis and Yulia:
- Internal and international passports.
- Marriage certificate.
- Birth certificates of their children.
- Health certificates confirming no STDs or severe chronic illnesses.
- Bank statements confirming sufficient funds.
- A detailed business strategy.
We also helped Denis prepare his resume and complete the application form for submission to the free zone authority. A positive response arrived via email in just 10 days.
Simultaneously, we selected an insurance provider and office space for our clients. A few days later, the family traveled to Dubai to address all necessary matters in person. During this time, we remotely guided them through the next steps.
After crossing the border, Denis and Yulia sent us scans of their passports with entry stamps. Our agent quickly submitted the documents for obtaining their Emirates ID and the Establishment Card. Two weeks later, our clients were invited to the visa center for biometric submission.
Bank Account Opening
Once settled in Dubai, we moved to the most challenging stage — opening a bank account. Despite the wide variety of commercial banks in the UAE, the account-opening procedure is nearly identical across all institutions.
Denis provided the bank with a comprehensive document package, including:
- Company registration certificate.
- International passport.
- Bank statement.
- Corporate documents.
- Utility bill as proof of the company’s address.
- Business plan.
- Detailed explanation of the purpose for opening the account.
To our surprise, Denis received a call from the bank for a short interview just four weeks later. Another two weeks after that, he received a positive decision from the bank.
With everything ready for business operations, Denis and Yulia thanked us for our professional assistance.
Why Are the UAE So Attractive for Entrepreneurs?
Today, the UAE is one of the most promising global business hubs across various commercial sectors, for several reasons:
- Simplified accounting and reporting procedures.
- Stability of the national currency.
- Significant tax savings.
- Opportunities to enter international markets.
Not only the entrepreneur but also their family members can qualify for UAE residency. Compared to similar residency programs in other countries, the UAE demonstrates greater flexibility toward small and medium businesses. At the same time, entering the international or Arab market here is considered one of the most cost-effective options.
Costs and bureaucratic nuances are always individual, depending on the company’s activities. Thus, it’s impossible to provide universal advice for expediting the process.
If you are financially prepared for business immigration, contact GARANT IN migration agency.
We are always ready to support your ventures and provide all necessary services.
