Running a Business in Dubai - FULL GUIDE

RESOURCES:

I have been running a business here in Dubai for more than 1 year now so here are all the boring, day-to-day details that I wish before I got into this.

Running a business in UAE is incredibly easy overall, because they have deliberately made it easy to attract builders into the country, and as a rather big bonus you also get either 0% or 9% tax depending on a few factors.

But with that said, it is still a new country for most people coming here where certain things do work differently, and there are many things you simply want to be aware of.

CHAPTERS:
0:00 The Reality of Running a Business in Dubai
1:51 How to get set up in Dubai (watch out for this!)
3:51 How to open a bank account / which bank to use
5:33 Corporate Tax - How to pay 0% tax
9:40 VAT
11:31 Foreign companies
13:25 Operating a UAE company from abroad (0% tax?)
14:33 Paying yourself
15:22 Annual costs
16:45 Hiring employees

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[vladabobrova]

I love your content Tuomas. Very informative and inspiring as well!

[CheaNuh]

Hi Tuomas, thank you for the video! Do you have tips to ship products to dubai? Thank you

[nangthirinaing]

yes this video is absolutely for me ... thanks for detail

[HijrahSigma]

You ignored my last comment from your previous video but can you please make a video on social life making friends and networking in Dubai

[viajeronomadatv]

Very useful video. In what Free Zone have you set up your company?

[emmaborn]

Hi Tuomas, Thank you for your informative video.
I wanted to clarify one point regarding US LLCs for foreign non-residents. The US has agreements with many countries where a foreign person who forms an LLC in the US is typically required to pay taxes in their home country or the country where they live, often referred to as their "fiscal country."
However, there is an option that simplifies this process and avoids tax obligations in multiple countries. By electing to have your LLC taxed as a corporation in the US, you ensure that all taxes are paid in the US, the country where the company is registered. This approach can make your LLC look more professional, as it centralizes tax payments and removes the complexity of dealing with tax claims from multiple countries.
As a Spanish resident who owns two LLCs, this was the best advice I received from my lawyer. It has allowed me to live wherever I want without worrying about conflicting tax obligations from different countries, as my LLCs pay taxes solely in the US.

I hope this information helps!

[eddygeorgisshlemon]

great work, thanks for sharing! Can you also cover US LLC setup process, banking and taxes.

[RizosKonstantinos]

Great video Tuomas. Quick question: The GenZone Consulting is your business or the people that helped you?

[MrAthenian]

Your videos are amazing.
Could you please cover some other issues on another short video maybe like health insurance and pension in the UAE. As far as I know if you are not an Emirati, u don't get state pension. How do you invest for pension? We r not going to be young forever. And plz explain how health insurance works in the UAE

[Tina]

Hi bro, are you still in Dubai now?
Will you come to BrokersView Expo next week？
It will be held on the 4th floor, Conrad Dubai, April 16-17, 2024

[juanlearneveryday]

Question hypothetically let's say I am in investments but not in metals but in other investment like gemstones or minerals, and crystals? How much tax and how much vat?

[RBNMAN]

I smashed the like button.
What software are you using for accounting and generating reports / statements to submit and file to the authorities ?

[DAANISH_KHAN_]

Don’t fall in trap, Opening a company in Dubai is 100 times… really 100 times costlier than Indian and Pakistan, which is AED 22000 (INR 5 Lacs). It is just Trading License i.e. Company Registration Cost only. If you hire an employee it will cost you at least AED 7500 (INR 2 Lacs) per employee. Renewal of Trade license required every year, which has cost around AED 12000 (INR 3 lacs).
In India You can Register a company in just INR 5, 000. Renewal is just INR 2000 and No employees hiring cost.
Doing business in Dubai is very hectic, too much compliance and non-compliance cost is huge amount….

[bluefire]

Is trading considered a business in order to move to dubai or Ill have to find other ways ??

[IlllIlllIlllIlll]

18:00 where are you originally from because if you hired yourself as an employee then had to pay for flights, etc, etc. but say your american then dont you have to pay american taxes

[zakijamil]

why does everyone charge different prices to set up in dubai theres some who charge 5k for full set up some do for 10k and some for 25k + lol not sure why everyone got random pricing

[IlllIlllIlllIlll]

I want to make a mobile app for iOS and Google Play store. Can I registered it in Dubai, Qatar, Saudi etc but live in NYC and hire myself as a remote worker eventually as the app makes income?

[raag]

Is 375k is 3mill+ as Tuomas said a few times in the video while referring to threshold revenue for 9% taxation..?

[im.m]

this is exactly what i needed and have been looking for. i run a youtube business myself so this was very helpful. could you explain more about the"paying yourself" part

[girllovescoding]

So, from what you are saying it does not make sense to open a company in Dubai for SaS where I am the owner and the only employee, if I do not plan to live in Dubai, because, I would have to pay taxes in Denmark (my residence country). What if I do not pay salary to myself and all the money stay in the company? Does it change anything? Great channel, btw😉