Dubai is widely recognized as a desirable location for entrepreneurs and business owners seeking to increase their revenues. Given the unstable political atmosphere back home, Russian investors will find Dubai the perfect place to set up a business. There has been a massive influx of Russian businesspeople and even billionaires to the United Arab Emirates.
The Russians have been one of the United Arab Emirates (UAE) most reliable trading partners for a very long time. The trading relationship between the two nations spans more than five decades. Russian investors highly consider a business setup in Dubai due to the country’s comparatively low tax rate, stable government, and strong economy.
By establishing a business or investing in Dubai, Russian investors can receive a residency visa quickly. To lure more international investment, the United Arab Emirates has just revamped its residency possibilities. By establishing a company in Dubai, Russians can obtain residency visas for themselves and their families.
Russian business entrepreneurs and investors in Dubai primarily have two options. The first option is to register as a limited liability company in mainland Dubai. Second, they can set up business in one of Dubai’s several free trade zones.
Why Should Russian Investors Choose Dubai to Form a Business?
More than twenty different types of free trade zones are available in Dubai, giving Russian investors a wide variety of options for the kind of businesses they can establish. In addition, Dubai serves well as a focal point for international business and trade. Dubai is among the most secure cities to stay, work, and settle in.
It boasts strong government, electronic administration, a wide variety of banks, and a developing business ecosystem, all of which contribute to its well-developed infrastructure. The Arab Dirham is tied to the U.S. dollar and maintains a stable market position.
Russia’s business community can set up business in the UAE in several ways, including by launching local subsidiaries or entirely new entities without interruption.
Many different opportunities exist in Dubai for Russian investors. The Dubai Free Zones allow for complete foreign ownership, a plethora of business services, luxury facilities, easy business formation, and a residence visa for the United Arab Emirates (UAE) for investors.
Within two to three business days, the new company’s trade license and other business documentation will be ready, allowing the investor to apply for a resident visa in the United Arab Emirates and open a corporate bank account.
How Can Russians Establish a Company in Dubai?
Establishing a new company in Dubai is possible for Russians who comply with the requirements set forth by the appropriate licensing authorities. The business owners must first decide whether to establish a company on the mainland or in a free zone. Once they have made that decision, they need to do the following actions to form a business in Dubai:
- Decide on a Commercial ActivityChoose a name for your business.
- Establish the company’s legal structure by its number of shareholders.
- Submit the application form with shareholder(s) documents like passport copy, photo, and parent business paperwork for opening branch only (attested by UAE Embassy in Russia)
- Rent a commercial facility for use as an office (for free zones, the leasing option comes with the license package)
- Obtain approval from the appropriate government authorities before engaging in any exceptional activities (This mainly applies to mainland companies)
- Submit all the required documents
- After acquiring a business license, apply for a residence visa.
After submitting the documents to the Licensing Authority, the business license will be granted along with the Memorandum of Association and other company documentation. Under the company’s name, the investor may apply for a UAE Residence Visa. They can also sponsor their family members and recruit new employees for the company.
The new company can open a corporate bank account in the UAE. The investor will need to provide corporate documents, personal bank statements, a business model, and company information from the investor’s home country to fulfill the Know Your Customer (KYC) standards of banks in the United Arab Emirates.
How to Get a Visa to Russia in Dubai
To start a company in Dubai, one must first meet certain requirements. The UAE Government Portal specifies the following as a prerequisite:
- You must be able to provide evidence of your prior success as an entrepreneur.
- Have experience as a senior executive or majority shareholder in a startup.
- Ability and willingness to move to the United Arab Emirates and register a company in any of the seven emirates are required.
- You want to start or expand a business in the United Arab Emirates.
You will also need to complete the necessary Citizenship and health assessments administered by the Federal Authority for Identity. Entrepreneurs must have their nominations confirmed by an incubator supported by the UAE government to apply for a Russian business visa.
Once the application procedure has been finalized and professionals have been requested to apply, the Visa will be issued.
How ExpressPRO Can Assist?
Russian entrepreneurs who want to save expenses and grow their businesses without knowing Arabic would benefit greatly from using Dubai as a hotspot for Russian businesses.
Of course, stringent restrictions must be met, but this does not appear to be an issue for the affluent Russians who are relocating their fortune to the United Arab Emirates.
Russian investors interested in establishing a business in the United Arab Emirates have increased their inquiries to ExpressPRO, the leading business consultant in the UAE. We can help you decide what kinds of commercial endeavors will be most fruitful for your company, and we’ll get the necessary permits and licenses for you as soon as possible. We can also assist you in enhancing your entrepreneurial skills and sustaining your company.
Get in touch with us to learn more about the Russian investment opportunities in Dubai.