Physical office space is needed to start a business on the other side of the world. An ejari (lease registration document) must be sent to the Department of Economic Development in the emirate, where the company will be set up on the ground. It’s possible to get a local sponsorship and an ejari simultaneously, but you can also get a coworking space and an ejari from business consultancies. Rental costs are less than if you were to rent out an entire office space, which would cost more. Also, you get to work in a nice place. Some of these business centres may be able to save their clients money by offering a payment plan that they can pay each month.
As long as the same local sponsor is involved, you can use your existing office space to set up a new limited liability company. This is true if you already have an onshore firm with a local sponsor.
There are a lot of free zones where businesses have to rent office space in Dubai. There are also free zones like the DMCC and Dubai South that charge AED 16,000 a year for Flexi-desks. Dubai Internet City and Dubai Media City have unique desk amenities that start at AED 35,000 per year for businesses that don’t want to be in the free zones.
Offshore Legal Systems
Think about setting up an offshore company in the United Arab Emirates instead of renting office space if you want to set up a holding company or “special purpose vehicle” (SPV) to hold assets or property instead of renting space in an office building. It’s a good idea to set up an offshore business in the Jebal Ali Free Zone (JAFZA) and the RAK ICC.
ADGM Special Purpose Vehicle
If you want to set up holding companies or store intellectual property like intellectual property, ADGM SPV costs only $1,600 a year (IP). Your SPV will need a letter of permission from a corporate service provider before you can use their office address as your own. Most of the time, this service costs about $700 a year. So we offer it for about that amount.
Entrepreneurship in the tech industry is at an all-time high.
The ‘Tech Start-Up’ licence, run by the ADGM, costs USD 700 a year and gives entrepreneurs a business licence. It’s also important that the service provider gives you the OK to use their registered office. As we had previously said, we can provide this service for a minimal annual fee.