Can Iranians work in Dubai and start their own company in the region? Of course, they can! Company formation in Dubai has always been a multinational affair and it is no different for Iranian nationals. Learn How to Start a Company in Dubai as an Iranian National.
There are many Iranian investments in the region, and in 2023, some analysts estimated the total value of Iranian assets in Dubai alone had reached USD 300 billion. This is because the bilateral trade between the UAE and Iran has always been robust, with the UAE being Iran’s second-largest trading partner.
Here Are Some More Key Data Points & Statistics About Iran-UAE Relations:
Both Iran and the UAE seem committed to improving their economic ties. The large Iranian community in the UAE and the potential benefits of cooperation create a strong incentive to find solutions and work together for mutual prosperity.
Here are Some Promising Areas:
- Energy: Both countries have significant oil and gas reserves. Cooperation in areas like market control, re-exporting gas, and joint exploration have been mutually beneficial.
- Food Security: Both import some food. Hence, collaboration on self-sufficiency strategies and joint agricultural ventures have continued to be fruitful.
- Transit: Iran’s location makes it a key route for the UAE to access other markets. Due to this, Iran and the UAE are working together on infrastructure development, port operations, and shipping lines to create a smoother flow of goods.
Dubai is a commercial hotspot for the UAE – making it the perfect choice for company formation among Iranian nationals. Moreover, the region boasts a pro-business ecosystem with streamlined regulations, world-class infrastructure, and a diverse talent pool.
However, international sanctions and specific local laws for Iranian citizens necessitate a deeper understanding. Connecting with business setup consultants in UAE or a legal professional specializing in Iranian business setups is highly recommended.
But How Can Business Setup Consultants in the UAE Help?
1. They Can Help in Choosing the Business Path:
- Free Zone vs. Mainland: This is a crucial initial decision. Free zones offer 100% foreign ownership but restrict your ability to directly trade within the UAE mainland. Mainland companies allow full UAE trade but may require a local sponsor (depending on the business activity). A business consultant can analyze the target market and business goals to make an informed choice.
2. Business Consultants Can Craft Your Business Identity:
- Business Activity Selection: Clearly define the activities your company will undertake. The DED (Dubai Department of Economic Development) maintains a detailed list of approved activities. Choose activities that align with your vision and market opportunity.
- Legal Structure Selection: Popular options for Iranian entrepreneurs include Limited Liability Companies (LLCs) and Sole Proprietorships. Each structure has its own advantages and limitations regarding ownership, liability, and management. Seek professional advice to determine the best fit for your business.
3. The Expert Can Also Aid in Navigating the Registration Process:
- Trade Name Registration: Select a unique and commercially relevant name that complies with DED regulations. Conduct a name check to ensure availability before proceeding.
- Securing Approvals: Depending on your business activity, you might require additional approvals from relevant government departments or regulatory bodies. Examples include health department approvals for food businesses or environmental approvals for manufacturing units.
- Business License Application: Once you have the necessary approvals, apply for the appropriate business license with the DED or the Free Zone authority. The DED offers commercial, professional, and industrial licenses, each catering to specific business activities.
4. The Consultant Can Secure Your Operating Base:
- Office Space: Find a suitable office space that aligns with your operational needs and budget. Once you finalize the space, register your tenancy contract (Ejari) as part of the business setup process.
5. They Can Advise on the Best Visa Options for You and Your Team:
- Investor Visa: If you invest a specific amount (the amount varies depending on the chosen Emirate) in your Dubai business, you may qualify for an Investor Visa, granting you UAE residency.
- Employment Visa: After establishing your company, you can sponsor Employment Visas for your employees. This allows them to legally reside and work in Dubai.
- Family Visa: As a business owner or employee with a valid residency visa, you can sponsor Family Visas for your dependents.
6. Good Business Setup Consultants in UAE Ensure Compliance:
- Guided Process: Due to the complexities of international sanctions, Iranian entrepreneurs must prioritize strict adherence to UAE laws and international regulations. Conduct thorough due diligence and seek professional guidance to ensure your business operates within the legal framework. Nonetheless, with the right advisor to guide you can ensure compliance at every stage.
Cost of Company Registration in Dubai for Iranian Citizens
There are no specific costs of company formation in Dubai exclusive to Iranian citizens. Starting a business in Dubai as a foreigner or non-resident is similar for everyone. Just like any other nationality, Iranian citizens can now start a business in Dubai mainland with 100% ownership or opt for free zones.
In terms of costs, the cost of company registration varies depending on the chosen business structure, location, and additional approvals required.
LLC company registration typically ranges between AED 22,000 and 35,000, but it’s advisable to factor in additional costs depending on the type of company you plan to set up. Speak to experienced business setup consultants in UAE for a more personalized fee structure.
Timeframe For Company Registration in Dubai for Iranian Citizens
The company registration process can be completed efficiently, often within 3-5 working days. However, obtaining additional approvals or securing office space might add to the overall timeline.
Taking the Next Step:
Partner with reputable business setup consultants in UAE – such as CorpCreators. Our legal experts are familiar with Iranian nationality requirements. Our expertise will ensure a smooth and compliant business setup process, allowing you to focus on realizing your entrepreneurial dream in Dubai. So, what are you waiting for? Book a free consultation today!
