TRN is a number that is assigned to all agencies within the UAE.  It is unique to every business and is issued by the Federal Tax Authority(FTA). It is a mandate for a business to pay taxes and to work with the authorities.  It is not legal to acquire VAT from your customers without a valid TRN. 

TRN is a must if you are dealing with the government and the regulatory authorities in the UAE. It is also an identification of your business. There are a few purposes for which you are needed to present your TRN-

• Prepare a tax receipt
• tax credit
• Filing of tax returns and VAT
• Invoicing to clients where VAT is applicable

The UAE allows businesses to take  5% VAT from the customers. However, many companies add 5% VAT without a valid registration number and thus the tax collected does not reach the government. Such frauds are essentially harmful to the enterprise. To avoid this, a simple TRN verification system has been put in place to ensure that customers can easily know whether they are paying taxes to the right business or to a fraud. 

It is essential to note that without a TRN, you cannot legally charge VAT from the buyer. Incase VAT is collected by any means other than the legal one, it can lead to termination of business licence, fines and various other troubles for the owner as well as the business. 

With the ever changing world and immense technological advancements, everyone who is proficient with the use of a device that has internet access can access the TRN verification system. FTA registers the valid businesses with a TRN on their systems. It is therefore possible to look up the TRN of the business and ensure that they are not committing a fraud.

The TRN is a unique number that follows a specific format. This allows the buyer to identify whether the number is authentic or not. It can be checked to ensure that the number is a correct one. How to recognise the correct TRN?-

• First three digits are 100
• The first three digits are accompanied by 3 units of 4 digit numbers
• The format is therefore- 100-XXXX-XXXX-XXXX.

Any of the following can be signs and identifiers of a fraudulent TRN:

• They don’t have exactly 15 digits
• The first 3 digits are not 100
• Have a different form

Once you have primarily checked its authenticity visually, the TRN can now be checked for authenticity online.

It is important to know how to access the TRN verification page. It is an easy process that proceeds as follows:

Visit the FTA website online through the URL or by simply searching through google.

The next step is to enter the concerned TRN and enter the captcha displayed on the screen correctly. After this, press the ‘Verify’ button.

Once you click the verify button, the database is checked for the number entered. If it has been registered, “TRN is available in the system” shows on the system along with the company name in English and Arabic. In case it isn’t present in the records, “TRN does not exist in the system” is displayed.

This ensures that the business you are buying from is legally registered for tax collection purposes.

Filing a TRN fraud after recognising it is essential. Collecting VAT without a TRN is a fraud. It is essential to report such cases. This is important to stop injustices towards the customers.If you find a fraudulent TRN, report it to the FTA. This can be done by calling or emailing them. 

If your business does not have a TRN, here are the steps you can take to get registered. This can be done through the FTA eServices website by following simple steps.

Open your FTA account through the eservices website. The list of the required documents will be provided to you when you are registering. You must also provide the essential information about your business such as the type of business, where the business is located in the United Arab Emirates and information about the business owner. When applying for a tax identification number, you should submit scanned copies of the Partnership Agreement (for partner companies), Passport or Emirates ID and Other records relating to the ownership of the company

It may also be necessary for you to submit the company bank account number and information of a manager in case you are not the one who runs the business.

The UAE has been working tirelessly towards the growth of the country from an oil-based economy to a business-friendly economy which is regarded as the business and investment hub. To support this, TRN verification system has been introduced for customers to gain clarity.

With the many growth opportunities in the UAE, expats now have even more reasons to setup here. You can contact a business setup consultant such as Projectfrpjsc to get started with your company setup in the UAE. We can help you with your VAT registration, tax advice and complete business setup advice. Contact us today.

Here are some profitable ideas for a business setup in Dubai free zone that you should consider if you are looking to start a business in Dubai.

1. Online Marketplace

With the growing digitalisation and everyone shifting to the online options available, an e-commerce business is an excellent option for those who wish to start a business in Dubai.

2. A Construction Company

Who doesn’t think of skyscrapers when thinking about Dubai? This is why a construction company is the best choice for those who want to get started with their company in Dubai. 

3. Retail Shops

Retail shops are one of the best options due to the increasing number of people shifting to dubai and the increasing population. The profit in this concept is immense and is going to grow in future as well.

4. Tourism 

Dubai is quite famous as a tourist destination. People get attracted to this Emirate and consider it a traveler’s paradise. It is also a great way to contribute to the expanding revenue that has been collected through the tourism industry in  the United Arab Emirates.

5. Healthcare related businesses

As the population grows, the need for a healthcare provider increases. The healthcare services present in Dubai are famous worldwide and many people travel from far off places just to avail healthcare services here.This sector provides immense growth opportunities.

6. Online Traders

Dubai has been a hub for investment and has amazing opportunities for investors. Online traders can start with trading on another platform and then build theirs to reach their target audience.Online traders can earn a lot of profit here.

7. Recruitment Company

With growing companies in the Emirates, there is a constant need for employees. This need can be met with the help of a recruitment company. You can take advantage of this need and grow in the Emirate.

8. Housekeeping Services

The need for housekeeping services grows as more and more people are getting busy in their lifestyles. You can earn profits by establishing a business that provides housekeeping services.

9. A cafe or restaurant

Instagram and other social media have started increasing the craze for “gram-worthy” food, ambience and aesthetics. If you are passionate about food, this is one of the best ideas for you . 

10. Beauty Salon Services

Everyone is concerned about the way they look. Appearance decides a person’s confidence. This is why beauty salon services have gained immense popularity worldwide. By taking advantage of the same, you can start a profitable business. 

11. Web Development

Businesses are also shifting online since all the customers are now available online. With this, you can use your web development skills and help a business start online. The industry is rapidly expanding and has many opportunities.

12. Jewelry Business

Dubai is an extremely popular city for people who want to buy precious metals and gemstones throughout the world. This ensures that anyone with a jewelry business is ought to earn immense profits. Taking advantage of this, you can start a jewelry business in Dubai and enjoy growth. 

13. Security Services Agency

With people who prefer luxurious lifestyles and expensive stuff, security becomes a primary need of the hour. A security services agency provides guards, CCTVs and other things like an alarm system to its customers.

14. Clothing Brand

Clothing brands are gaining a lot of popularity not just in the emirates but also at every other place. Everyone wants their clothes to be top-notch. New clothing brands are thus encouraged and eventually you will find loyal customers for your brand.

15. Entertainment Business

People everywhere like the entertainment industry. Since the people in Dubai are adequately paid, they pay well for the services and hence a business in this sector will likely flourish.

16. Education

Education is a sector that is quite popular in Dubai. The educational institutions in Dubai are a growing market and can be grown if you have the license.

17. Delivery Service

Delivery services are needed when companies send their parcels and people courier. They are also needed for day to day services such as food delivery. A delivery service can be a beneficial option for you.

18. Finance

Financial advisory services are popular in Dubai as with the growing businesses, people need financial advice. You can start a financial business and grow in the UAE market.

19. Real Estate

Real estate is one of the top preferences of investors when it comes to making long term investments. As a real estate business, you can help investors and help the expats find the right property. All you need is some knowledge about the market and then you are bound to take your business to a great height.

20. Photography

Photography industry is growing worldwide. People are getting camera friendly and thus appreciating the hard work that goes behind a perfect photograph. You can start a business that provides a wide range of services or one that specializes in one area of photography.

21. Home Improvement Services

Every house and every building requires services like plumbing, repair and maintenance now or the. These services are therefore a great means for earning a good amount of money and also be in demand since people will eventually become loyal customers. You can decide the service you want to provide or whether you want to offer multiple services.

22. Event Business

People tend to save and spend well on events that are of significance in their lives. This is why event management companies are in demand. This business can provide you a wide profit. Events these days are one of the many ways to show a family’s status. The decorations follow a theme and hence it is preferred that they are done by an expert. Tying the entire theme together requires experience. If you possess the talent of organizing an event, Dubai is the right place for you.

23. Daycare

These days, people are working full time and thus need childcare, babysitting, and other services are increasing. It is a good source of income for people who want to start their own business in the Emirates. It can be done from home as well. Daycare services are a good choice of business for those who love children and know about the ways to take care of children. This is also a low investment business for those who do not have enough funds to start their own business.

24. Bakery 

Bakery industry is quite popular in Dubai. People indulge in different kinds of cakes and baked goods and prefer extravagant products if they like. This is a great opportunity to make profits while showcasing your baking skills. The industry is mainly skill based. This is a great idea for those who have the passion and talent for baking. The vast delicacies including cakes, tarts, breads, pastries, etc are gaining popularity.

25. Florist Company

Florists selling flowers in Dubai are also investing in good business. People love to give and receive flowers and this is why the market will continue to expand in coming years as well. The Florist companies are quite famous these days considering the growing popularity of flowers as a gift. Opening a florist company is beneficial for the owner as the investment on the end of the entrepreneur is also quite less. This business can also be done online as the demand for online flower delivery services is growing as well. 

Radiant Biz helps you build the best business in Dubai.

As an entrepreneur, starting a business in Dubai can be a daunting task. This is where the experts are required. At Projectfrpjsc, we can help you lay the foundation for your ideal business in the United Arab Emirates. We believe that a business with a strong foundation can flourish in the Dubai markets. Our business experts can help you with everything from finding the best business ideas in Dubai to assisting with documentation.

The Decision was taken keeping in view the OECD guidelines to keep the global minimum corporate tax (CT) rate at 15%. To guarantee equitable practices, the corporate tax in UAE rate has been determined. The CT is 0% for people with taxable income up to AED 375,000 and 9% for those with incomes over that amount.

For huge corporations like big MNCs that satisfy the requirements established by the government, a separate tax rate – which will be set to 15% of the corporate income. It will be imposed on a qualifying free zone person at 0% on qualifying income and at 9% on taxable income that is not qualifying income according to the law.

The demands of people, companies, and the nation as a whole have all been taken into consideration while setting the corporate tax in UAE. Additionally, a lengthy window has been provided for the enterprises to file their tax filings.

The UAE corporation tax will be applicable to all business operations carried out in the UAE after obtaining a license. This includes all kinds of licenses required for you to do your business legally in Dubai including the freelance license in Dubai as well. The “qualifying free zone persons” will be charged the corporate taxes at the rates mentioned according to the government guidelines.

The Federal Tax Authority will impose, collect, and manage the Corporate Tax in UAE. It will hasten the nation’s prosperity during the following 50 years. It is a first step toward a sustainable future with a strong economy and one that is not dependent on oil. 

All UAE Business entities must register with the FTA for the taxation, even if they are exempted from the CT with their corporate Income below the threshold of 375,000 AED.

Businesses that rely on the extraction of natural resources are, however, excluded from the new UAE corporate tax. The corporate tax exemption will also apply to capital gains from qualifying ownership, qualifying intra-group transactions, and qualifying re-organisation. Government authorities will release a list of exempt free zones in Dubai as well.

Additionally, individual salaries and other work perks are exempt from the CT. Besides this, it has been decided to exempt from paying corporate tax the interest and income from real estate.

While there will be various “executive resolutions” from various cabinets, it should be emphasised that the personal income of an individual will not  be subject to taxation under this regulation regardless of whether their personal income comes from the UAE or from outside.

The only taxable corporate income that residents and non-residents will pay taxes on comes from sources based in the United Arab Emirates. A person’s residency will be determined in accordance with the conditions outlined by the authorities. They won’t be charged the corporate tax if these criteria don’t allow them to be considered a resident.

Businesses that have multiple companies in the Emirates, can be considered as a “Tax Group” after getting FTA’s approval. In cases of a tax group, intra-company transactions are tax free. They are viewed as a single entity for tax purposes. They must adopt the same accounting principles and fiscal year when putting up their financial statements. To create a tax group, two or more people must fulfil the legal requirements.

It should be emphasised that an exempt person or a qualified free zone cannot be a part of the tax group. Through subsidiaries, the ownership, rights, and entitlement may be held directly or indirectly.

The major benefit of forming a tax group in the UAE is that the company shall be considered as a single entity for tax purposes. The company will therefore be paying taxes together as a single taxpayer.

• Parent company holds at least 95% of the share capital and voting rights of its subsidiaries 
• Neither parent company nor any of the subsidiaries are exempt persons or a free zone person
• All group members should have the same financial year 
• Branches may be part of the tax group where it is owned by the parent company or any subsidiary.

• .A company tax registration number must be obtained by all the businesses, whether they are subject to taxation or not.
• The taxable people shall file a corporation tax return. Within nine months after the end of the tax period, this must be completed.
• VAT and Corporate Tax (CT) must be paid separately if you are registered for VAT; nevertheless, even if your company is not registered for VAT, you may still be required to pay Corporate Tax. Both taxes, which are entirely distinct from one another, are still in effect in the UAE.
• The implementation of Corporate Tax in UAE will not result in the elimination of VAT or excise tax in the nation. All of the UAE’s Emirates will also be subject to the tax. Understanding the regulations and every other element of your business will be helpful when applying for the Corporate Tax.
• The Federal Tax Authority has asked everyone to study the information on the company tax law and other supporting material available on the official government websites.
• You may use the same to examine the situation and decide if your company must pay corporation tax or not.
• To keep up with any current changes or additions to the legislation, everyone should frequently visit the websites or get in touch with us.

Our team of Accounting & Tax experts with the knowledge & understanding of the UAE compliance & accounting laws will ensure that your company abides by the regulatory norms. The tax law is still being formulated. This ongoing process has caused a lot of changes in the earlier formulated laws and will further cause more changes. Keeping up with these changing laws can be hassle-some. 

We will help you take care of your tax registration whether it is VAT or corporate tax.Contact our experts to get started today.  

As a well trained yoga teacher, it is a great idea to open your yoga studio. You will enjoy many benefits and get a good profit as well. Some of the benefits are below mentioned:

• The youth generation of today’s time are more aware and considered about their physical appearance which has led to a high demand of yoga instructors, teachers and centers in UAE.
• Many people choose yoga as the exercise of their choice due to the immense benefits it provides both in short and long term.
• Yoga is beneficial for both mental and physical well being and is hence in a wide demand.
• Yoga has now become a way of life and many foreigners travel from distant places just to learn yoga and inculcate the art in their lives.
• Since the pandemic hit, people have been more focused on breathwork. It is one of the major aspects of yoga and has hence been the reason for so many people being attracted to the practice.
• You get the benefit of being a healthcare organisation since yoga classifies under the health and wellness sector when setting up a business.
• Once your branch functions well, it can be extended to other emirates and even other nations.

It is easy to set up your yoga centre in the UAE. You need to ensure that all the steps are followed properly and all the documents are submitted. The following are the steps to setup a yoga centre in Dubai, UAE.

A yoga centre in Dubai, UAE costs according to your needs. The jurisdiction, licence and location play a key role in the cost. However, you do not have to worry. Head to Projectfrpjsc and get your estimate by filling in your details in our cost calculator. 

With the growing demand and rise of yoga, it is one of the most beneficial ideas to open a yoga centre in the UAE. In order to do so, you need to follow some specific steps that may be time consuming. In order to save on the time spent and use it for things you love, a business setup consultant is the best choice for you and your business.

We at Projectfrpjsc use our years of experience in the field to help you get your business in a hassle free way. Our experts understand and analyse your needs and provide you with budget friendly solutions for your business. To get started with your yoga centre in Dubai, UAE contact  Projectfrpjsc today!

When registering a company, you have to follow some steps. These steps decide whether you will get the license or not since an error in any of the steps can cause rejection of the application. The steps are as follows-

The structure of your company will decide where it can operate and the types of activities it can uptake. There are Commercial companies, Civil companies and Free Zone entities.

• Sole proprietorship- A sole proprietorship can be owned only by a single person. The owner has complete authority and complete ownership when it comes to the company. A sole proprietorship of the professional kind may be held by anybody of any nationality, however only citizens of the UAE or the GCC may possess a sole proprietorship of the industrial or commercial variety.
• General Partnership- A general partnership is created when two or more UAE nationals who are jointly liable for the partnership’s debts come together. A partnership stake may not be transferred without the approval of all partners.
• Limited Liability Company- An LLC may have up to 50 shareholders. Every shareholder is responsible for their shares of the company. The shares are transferred to the heir after his or her death. They must appoint 1-5 managers.
• Representative office- Branch offices are a part of the parent company and have the same name as their parent company. A branch office and a representative office are different entities. Foreign enterprises can open representative offices in the UAE to promote the company, however they cannot do sales in the Emirates.
• Public Joint Stock Company-  Public Joint Stock companies include those engaged in banking, insurance, or financial operations. They are appropriate for major operations or projects. The majority of the significant power holders must be nationals of the UAE. Profit distribution is less flexible. 25% or more of the shares must be made available to the general public. A minimum of 10 founding members are required, and a board of directors with a term limit of three years should be in charge of running the organization.
• Private Shareholding Company- A private shareholding company may be formed for any kind of business or industry. Its formation requires the presence of three UAE citizens or citizens of the GCC, or more. They can go public two years or more after their founding. The company must select a manager.

• Service Companies
• Speculative Venture Partnership
• Mudaraba Companies

They maybe of 3 types-

• • Free Zone Establishment (Single Shareholder)
  • Free Zone Company (Multiple Shareholders)
  • Branch of a foreign company

After you have figured out what type of entity you want to establish, find a name for it. The name should not mention any offensive or rude word and ensure that the name is not already taken. The name should also not have any abbreviations. 

Decide where you want to do your business. Choose whether you want a freezone, offshore or mainland setup. The area choices may differ depending on the activity you have decided to do. The area you choose decides where you can trade.

• Passport-size photograph
• Application Form
• Passport copies
• Tourist Visa
• Ejari Number ( verification of business space agreement/contract)
• External documents of approvals, if any.

Obtain external approvals and approval from concerned authorities. If you want to establish a mainland company then you will need an approval from DED and if it is a freezone company then approval from local authorities will be required. Submit the documents and fill the form.

Open a bank account by selecting a bank that suits the best to your business needs. 

You can follow the procedures and obtain the visa you require. The visa depends on a variety of factors including your profession and whether you are in the emirates while applying or not.The applications are processed within 3 to 5 days. But these are done only after approvals from the concerned authorities.

 The United Arab Emirates now allows the people to apply for their company setup online. These services allow you to apply for license, NOCs and approval requests.This way you can manage everything at one convenient place.

In order to give every person with a company in Dubai the best chance for success, upholding the Emirate’s laws and regulations is a crucial aspect of the local authorities’ responsibility. Dubai therefore has a strong compliance structure to guarantee that the operations of all the concerned authorities adhere to national and international laws, rules.

Setting up a business in Dubai is a dream for many people. But due to the company setup procedures, many people make mistakes and have to repeat the entire process again. This can be cumbersome. This is where Projectfrpjsc steps in. We take care of each and every step of your business setup. We take care of the hard work so that you can take care of the more important and interesting parts of your business. 

Our experts are experienced in their fields and have worked at some of the top organizations in their fields before joining us. Let us help you. Book and appointment with us today and get started now!

Digital banking is the digitalization of all the stages and processes of banking which includes both the back-end and front end procedures. The back end procedures are dependent on artificial intelligence to ease the pressure on the employees. Digital banking gives you your bank and funds deposited on your phone screen, just a touch away. It helps you get rid of the queues and lets you operate right from your home.

Digital banks provide an easier opportunity to apply for loans and personalized services to manage money. It allows you to invest in gold, cryptocurrency, stocks and other modes in an easier way. You can also invest in mutual funds.

The rise in digital banking is due to the increasing digitalisation. It may be expected that only the youth is adapting to digital banking however even the older generations that were initially skeptical are now comfortable to a larger extent when it comes to banking. 

The opening of a bank account in Dubai is a simple process that provides easy transactions, better privacy and the convenience of accessing your funds at any time of the day. The lower costs of opening the bank account are a cherry on top. These factors are hugely attracting new customers in the United Arab Emirates leading to a rise in digital bank accounts in the UAE.

Digital banking has been widely attractive to the users due to its wide range of benefits-

• It has been a revolutionary step in the banking industry
• It is a faster solution to banking 
• It is a cost effective solution to banking 
• It provides a better privacy
• Instant account opening procedures avoids hassle
• Transactions, payments and other procedures can be done at banks, ATM machines and on mobile phones and computers as well
• 24/7 customer support is available to help you get instant solutions to your problems 
• You can access your account on multiple devices and also track your account with just a couple of clicks 
• The 24/7 access accounts for improved usability
• You get a personalized experience and your issues are given more attention due to no time constraint 
• You can easily change your pins,transaction limits and even cater to other urgent needs
• It is a bank for masses

Digital banking sector is becoming increasingly popular in the UAE. The Emirates ranks 6th in the list of the countries with digital penetration. The estimation of the same in 2027 according to a study is said to be around 41 percent which is an increase by 22 points. The increase is a result of the dedication on the part of the UAE Banks Federation and the recognition of the fact that digitalisation is one of the most important pillars on which the economy of the country rests.It has been considered as one of the ways to exchange knowledge and expertise. The increasing popularity is due to the customer centric approach behind digital banking. The improved customer experience, greater customer satisfaction and 24/7 customer service makes it a better preference for the UAE nationals.

The top 9 digital banks in UAE are- 

1. YAP- It is one of the leading digital banks in the Emirates.The registration of account is paperwork free and provides multiple cards which makes this bank instant and extra convenient.

2. Liv Bank by Emirates NBD- It is a lifestyle banking app which provides 2% interest on deposits of AED 5000 or more.

3. E20 by Emirates NBD- It gives safety to your business finances but needs a minimum balance and it is chargeable.

4. Mashreq Neo- It is one of the finest options you can go for. This bank needs identity authentication and is one of the first digital banks to take the pioneer step of introducing verification.

5. ADIB SmartBanking-This bank is winning hearts with free ATM withdrawals, managing bank accounts and getting your card conveniently delivered at your door steps.

6. Xpence- You will be able to track your financial transactions and do your invoicing and bookkeeping.

7. ADIB Amwali- It is a paperless and signature-less account through which parents can have complete control over the account.

8. Zand- It is UAE’s first independent digital bank and it offers an interest rate of 2%

9. OG Pay-  It is a versatile, affordable and secure options offering an interest rate of 2%

Online banking and digital banking are different even though they are used interchangeably.

Online banking- These are services provided by the traditional banks.They continue on their core system of banking and provide the same services online.The services are however limited. These may include transactions, management, account access and in some cases even application of loans.

Digital banking- Digital banks are convenient and easy to access. They allow the banks to provide their customers with a wide range of services that are dependent on new technology, APIs by automating some services. These provide better privacy, access to funds, flexibility and cost effective options. Their totally automated services and digital processing provide a better experience to the customers.

 Digital banks are the best options for everyone to get their banking services at convenience. From opening an account to tracking your transactions, you can do everything at your fingertips.You can join your desired digital banks after comparing and contrasting all your needs and preferences. If you need help to make your choices regarding your digital bank account, book an appointment with our experts at Projectfrpjsc  today.

Dubai is said ‘The City of Gold because it is growing as an international market of Gold & Jewellery very rapidly. People come from all over the world to buy gold and trade in gold because they trust the gold they buy in the city. The quality and purity of gold here are tested and maintained under strict rules, regulations, restrictions, and supervision. If any vendor is found guilty of selling low-grade gold and not following guidelines then he can be penalized up to 2 crores with 2 years of imprisonment.

Gold is much cheaper here as compared with any other place in the entire world & the reason behind it is that Dubai imports raw gold from South Africa and makes jewelry here and marks its stamp on the jewelry created here. Dubai achieved 1200-tone gold in trade last year.

India & China are the major buyers of gold jewelry from Dubai. As Indians are in a good ratio residing in Dubai, they are the major buyers of gold jewelry because of the traditions of wearing gold jewellery on special occasions and weddings. After India, there are China, Pakistan, Britain, Saudi Arabia Oman & Canada are the major buyers of gold from Dubai.

According to a survey, Dubai achieved 29% of the gold trade worldwide in 2021.The gold sector here is so developed and huge that 4086 companies are working in this sector at present. Dubai sold gold worth more than 5 lakh 52 thousand cr last year. Gold is cheap here because only 5% vat is applicable on gold and tourists can claim a VAT refund also.

Dubai Gold Souk is a traditional & vast market here which is the largest gold and jewelry market in the world. It has more than one thousand shops. People can find all the latest designs from all over the world. There are more than three hundred retailers here who are dealing with a huge range of jewelry starting from a very economic range to the most expensive and luxury range of jewelry which cannot be found in any other place but only in Dubai Gold Souk.

Here are the reasons to start jewellery business in Dubai.

• 1. Strategic location: Its strategic location which connects the eastern &western continents is always beneficial for attracting foreign investors to invest in the city.
• 2. Quality of Metals & Precious Stones: In Dubai, no one can violate the rules and cannot compromise the quality of metals & precious stones because of its strong legal system. There are strict punishments for such offenses.
• 3. Safety & Security: UAE is one of the safest countries to do business in because of its safe environment. There are no chances of fraud, theft, or robberies here because of its strong surveillance and security system.
• 4. Free Zone Benefits: You can get 100% ownership of your business in Free Zone which allows you to get maximum benefits for your business.
• 5. Tax Exemption: There is only 5% VAT payable on jewelry business in Dubai which can be claimed.
• 6. Favorable Government Policies: UAE Government has proposed an FTA which abolishes import duties in the UAE on the export of Gold, jewelry, and precious stones. The FTA supports the thriving growth of the gold & jewelry industry.

In the ‘City of Gold, To start jewellery business in Dubai would not require a second thought.

Before setting up the jewellery business in Dubai then there has to be clarity regarding the nature of the business. Whether you want to go to retail, wholesale, or import & export, this has to be chosen wisely before investing in it.

The process of starting a jewelry business in Dubai comprises many requirements which we will discuss in the next steps-

Along with the registration of the company name, choose the location of the
company to start up is also a must. The registration of the company can be done under Free Zone or mainland regions.

If you choose the free zone for company registration in Dubai, then there is a free zone called Gold & Diamond Park (DGDP) which is the ocean of all precious metals, gems & jewelry. Entrepreneurs starting up in this free zone get multiple benefits and opportunities to earn and grow their businesses. It is the biggest free zone in UAE specifically for the gold, precious stones, and jewelry sector. Setting up a business here is hassle-free and beneficial due to tax benefits, 100% ownership, excellent connectivity, and astonishing infrastructure. This free zone is an extension of the “Jebel Ali Free Zone”, which issues trade licenses to investors in Dubai Gold and Diamond Park.

If you choose Dubai mainland for company registration then Gold Souk is the
famous location for jewelry trading in mainland regions. Tourists and investors
from across the world flock here to shop or trade in gold. Company registration includes brand name registration and submission of documents required for company setup like passport, residence proof, NOC certificate, rent agreement copy, etc.

After the completion of the registration process, the second step is to get a license from authorities for gold & jewelry trading. Below are things that need to be followed while applying for a license.

First of all, choose the location where you want to go for a business start up- Free Zone or Mainland. If you choose a free zone to get the maximum profit of your business revenue then chose a free zone that is specifically for the jewelry businesses because every free zone is dedicated to a specific industry.

After choosing the correct location applies for the license for that specific region. This will help you to get the benefits of the policies which are specifically for the upliftment of that particular industry in a specific

There are two business channels for a jewellery business in Dubai. First is DED (Dept of Economic Development) & DMCC (Dubai Multi Commodities Centre). D-DED License allows investors to invest in Gold Souk Market. DMCC License allows investors to open a jewelry business in a free zone.

After selecting the location & business structure the next step is to submit the required documents along with the application form to DMCC or D-DED. These documents contain address proof of shareholders and directors, Passport copies, Approval of business name, MOA (Memorandum of Association) & AOA (Articles of Association).

After getting a license the last step is to apply for a visa. The trade license zone helps to get a residency visa to live & work in Dubai. After getting your visa you can sponsor your staff and dependents to get their visas.

Hence, there is no other destination that is as profitable as Dubai in the Gold & Jewellery industry. The UAE Government supports and benefits the Industry by providing the entrepreneurs all the ease and flexibility to start and run the business smoothly. Here in Dubai, there is no fear of fraud or ill practices because of the great and strict legal system.

We as prudent & proficient Business Setup Consultants, let your aspirations become bona fide. We have been serving in this domain for more than 10 years and have picked up a good deal of expertise along the way. We have achieved more than 15k Business start-ups with clients from 164 countries.

If you are a visionary entrepreneur and have ambitions to achieve much more by starting a business in Dubai, then you just have to contact Projectfrpjsc and forget all the worries and hassles. We will provide all the guidance, and advice and will not only show you the path but also will make you reach the destination without any delay or complications.

DMCC free zone is a place where you can start your business and grow it into something bigger. It’s a place where you can build your business, connect with others and make connections that will set you apart from the competition.

Here’s a list of some major benefits:

At DMCC, you will get great exposure for your business as the free zone is home to more than 21,000 businesses from all over the world. 

DMCC offers 100% ownership and capital repatriation, which means you can have 100% foreign ownership of your company, remit 100% of profits to the home country and enjoy the benefits of having a company in the DMCC free zone.

DMCC is the place to be for starting a business in Dubai. It’s a world-class environment with a large network of global businesses, and an easy and quick setup With DMCC you get a quick free zone business setup in Dubai. It provides a trade license within 10 days of submitting your application form.

DMCC is located in the heart of Dubai which is in Jumeirah Lake Towers. This is why DMCC free zone offers many options for connectivity to major airports, along with easy logistics nearby.

DMCC is a hub for the business industries and it has a lot to offer. From technology to e-commerce, there are many things you can do. The most popular industries in DMCC are:

• General Trade
• Food and Agro
• Cryptocurrency and Blockchain 
• E-commerce
• Diamond and Gold
• Sports and Wellness
• Gaming
• Healthcare 
• Technology and Media 
• Aviation 
• Education 
• Finance and Banking
• Logistics

Every investor launching a company in the UAE needs to obtain a legal and valid business license. Below are the steps that will ensure a business license for you.

If you deal in providing professional services such as media, IT, legal, energy, and healthcare then a service license is for you. 

As the name suggests, an industrial license is for businesses that carry out activities such as manufacturing, and processing of light commodities such as tea, coffee, metals, etc. 

A trading license is for activities that include general trading like export, import, buying, and selling of goods to and from the UAE. 

First, you need to start by selecting your business activity and then decide on the business license accordingly. You need to fill out the online application form on the DMCC official portal. 

After filling out the application form, the next step is to submit it to DMCC and pay a certain fee. The DMCC free zone authority will then review the application and look into further approvals. 

DMCC will require some necessary documents along with the application form. The authority will further issue provisional approval and a bank letter to open a business bank account in Dubai 

The last step would be selecting an office space that is relevant to your business needs. DMCC free zone offers flexible options for it, furthermore, they will allocate an E-license so that you may start your business in the free zone. 

The application process for DMCC free zone company setup is simple, with the following paperwork:

• To begin the process, you must complete an online pre-approval application form.
• Following that, you must provide a copy of your passport for verification. 
• A copy of your UAE resident visa as well as your Emirates ID must be submitted.
• Utility bills and bank statements as proof of address in the country of residence
• Documents of the parent company. These are only required when establishing a subsidiary firm.
• Third-party permissions are required for certain regulated business activities. 

It will take around 7 days for DMCC free zone Business setup in Dubai. However, with Projectfrpjsc’s assistance, you can reduce setup time because we will aid you with everything and make the process short. Coming to the visa, the DMCC visa is a type of resident visa granted to employees and business investors who are registered in the DMCC free zone. Moreover, the visa applications will be processed by the DMCC authority in three to five working days.

Do you need help with DMCC free zone company setup? Projectfrpjsc is your perfect partner for a stress-free business establishment in Dubai. We are the best business setup consultant in Dubai, and we guarantee to make your DMCC business formation easier than ever. 

Why is Projectfrpjsc the right business partner? We help you from the beginning, from first approvals, corporate bank accounts, and trade licenses, to visas and office space. We will walk you through the entire process of establishing a business in DMCC across all industries.