Establishing a company in Dubai for Iraqis

٠٧ مارس Establishing a company in Dubai for Iraqis

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Establishing a company in Dubai for Iraqis is a promising investment opportunity that allows investors to expand their businesses and benefit from the emirate’s advanced economic environment. Thanks to government facilities, flexible laws, and tax exemptions, Dubai has become an attractive destination for Iraqi businessmen seeking to start their projects in a stable and prosperous region.

Dubai features free zones that grant foreign investors full ownership of their businesses, in addition to the possibility of establishing companies on the mainland with a local partner or with full ownership under new laws. The emirate also offers advanced infrastructure and a strategic location linking regional and global markets, making it an ideal choice for Iraqi businessmen seeking success.

In this article, we will discuss in detail the process of establishing a company in Dubai for Iraqis, including the types of companies available, legal requirements, expected costs, and practical steps for successfully starting a project.

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Requirements for Establishing a Company in Dubai for Iraqis

Iraqi investors can easily establish companies in Dubai, but they must meet certain requirements and legal procedures to ensure compliance with UAE regulations. The following are the most important requirements:

1. Determine the Company Type
The investor must select the type of company they wish to establish, whether it is a Limited Liability Company (LLC), a free zone company, an offshore company, or a branch of a foreign company.
2. Choose the Business Activity
The business activity the company will engage in must be determined, as each activity requires different approvals from the relevant authorities.
3. Reserve the Trade Name
The company must register a unique, unregistered trade name, in compliance with the regulations of the Dubai Department of Economic Development.
4. Determine the Partners and Capital
If establishing a Limited Liability Company, there may be an Emirati partner (depending on certain activities), or the company may be established with 100% foreign ownership in certain free zones.
Determine the required capital according to the type of company chosen.
5. Submit the Required Documents

A copy of the passport of the founder or founders. A copy of the residence visa (if applicable).
Passport-sized photos.
The company’s articles of association (notarized according to regulations).
A detailed business plan, in some cases.

6. Choosing a Business Location
The company must have a physical headquarters or rent a virtual office, in accordance with legal requirements.

Types of Licenses Available to Iraqis in Dubai
Iraqi investors in Dubai can obtain various types of business licenses depending on the nature of their business. Available licenses include:
1. Commercial License
This license is intended for general commercial and trading activities, such as importing and exporting goods or selling products within the UAE.

This license is suitable for companies operating in distribution, e-commerce, or retail and wholesale.

2. Industrial License
This license is granted to companies that manufacture, assemble, or package products within Dubai.

This license requires providing an industrial space or warehouse and obtaining environmental and health approvals.

3. Professional License
Intended for professionals with specialized professions and professional expertise, such as consulting, design, engineering services, accounting, and medicine.

It allows investors to have 100% ownership in certain activities without the need for a local partner.

4. E-Commerce License
Intended for entrepreneurs and online stores that sell products or provide services online.

Requires registration with the Department of Economic Development or free zones, depending on the scope of work.

5. Tourism License
Intended for companies operating in the tourism sector, such as travel agencies, tour operators, and hotel services.

Requires additional approvals from the Department of Tourism and Commerce Marketing in Dubai.

6. Free Zone License (in Free Zones)
Offered by free zones, it allows 100% ownership without the need for a local sponsor.

The Cost of Establishing a Company in Dubai for Iraqis

The cost of establishing a company in Dubai for Iraqis varies based on several factors, such as the type of company, its location, business activity, and the required licensing fees. Here are some factors that affect the cost:

1. Trade License Fees
Trade license fees depend on the type of business activity chosen, whether commercial, industrial, or service-oriented. Costs vary between the mainland and free zones, with some free zones offering economical establishment packages that include a license, visas, and workspace.
2. Company Registration Fees
Include trade name registration fees, government approvals, and fees from relevant authorities, such as the Dubai Department of Economic Development (DED) if the company is located on the mainland, or the free zone authorities if established in a free zone.
3. Lease Contract Costs
The company must have a legally registered address in Dubai. Rental costs vary depending on the location, with offices in free zones being less expensive than those in the mainland.
4. Visa and Residency Fees
To obtain an investor residency, there are special fees associated with the investor visa, including application fees, medical examinations, and health insurance. Visas can also be issued for employees and family members.
5. Additional Service Fees
Costs may include legal consulting, translation, accounting, and bank account opening services, which vary depending on the service provider.

How to Obtain Investor Residency in Dubai for Iraqis

Iraqi investors can obtain investor residency in Dubai through several steps. The UAE provides residency visas for investors who wish to establish their companies in the country.

1. Establishing a Company in Dubai
To obtain investor residency, a company must be established in Dubai, either on the mainland or in one of the free zones. Capital requirements and the type of business activity vary depending on each zone.

2. Obtaining a Commercial License
After registering the company, the appropriate commercial license must be obtained from the Department of Economic Development (DED) if the company is located on the mainland, or from the relevant authorities in the free zones.

3. Submitting an Investor Residency Application
Once you have obtained a trade license, you can apply for an investor residency through the General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA).

4. Submitting the Required Documents
To obtain a visa, you must submit the following documents:

A copy of your passport
A copy of your trade license
The company’s articles of association
The company’s bank statement
A notarized lease agreement for the company’s headquarters
A no-objection certificate from the local partner (if applicable)
5. Undergoing a medical examination and obtaining health insurance
The investor must undergo a medical examination and obtain health insurance as part of the residency process.

6. Issuing a residency and receiving an Emirates ID card
After completing the procedures and paying the required fees, an investor residency permit is issued, allowing the investor to reside in Dubai for a renewable period.

Establishing a company in Dubai for Iraqis is a smart move for any investor seeking success in a business-friendly economic environment. Thanks to Dubai’s flexible laws, advanced infrastructure, and numerous benefits for investors, Iraqi businessmen can easily establish their companies and take advantage of the UAE’s thriving market.

If you’re considering investing in Dubai, it’s important to understand the legal procedures, costs, and administrative requirements to ensure your company is properly established. With proper planning and taking advantage of the available facilities, you can embark on a successful investment journey and achieve growth and prosperity in one of the world’s top economic destinations.