Iran had cold political relations with the United Arab Emirates, since the latter’s formation in 1971. However, the diplomatic and corporate ties between Iran and the UAE are gradually improving. You can move an Iranian business to Dubai to make the most of the booming economic potential there.
The governments of the UAE and Iran are effectively formalizing the bilateral links. Accordingly, the Iranian business community is welcome in the new Emirati corporate environment. Also, many Iranian nationals are living in Dubai due to the issuance of the UAE residency visas.
Both countries are fostering strong commercial bonds between the two nations. The UAE offers a significant expatriate community of Iranians with facilities like schools, banks, and hospitals. Abu Dhabi and Dubai are home to a growing number of expat Iranian business owners and workers.
Iranian citizens can easily set up businesses in Dubai and across the UAE. Moreover, they can apply for the UAE residency permits by obtaining trade licenses. Launching a new company in the UAE is affordable and simple for the Iranian migrants.
Process of relocating your Iranian business to Dubai
This is the step-by-step procedure of moving your Iranian business to Dubai.
- Choose business activity: Iranian investors must pick a promising business activity in Dubai. Or, their existing corporate activity must have a great scope in the UAE. Whether, you are starting new, or shifting a working Iranian business to Dubai, ensure it has a good potential.
- Determine corporate structure: Pick the optimal company structure by selecting between LLC or sole establishment, depending on your business activity.
- Select company name: The next step is to choose the right name for your Iranian company in the UAE. Also, come up with a unique trade name that fulfills the UAE’s corporate naming conventions. Make certain, both names describe your business idea, and align with your brand.
- Finalize legal jurisdiction: Iran nationals must decide whether to operate a business from mainland Dubai, or a free trade zone. Businesses in Dubai mainland can trade directly in the UAE markets, and sign government agreements. Whereas, free zones offer quick registration mechanism, ongoing assistance, and financial incentives (like tax breaks and no capital repatriation restrictions).
- Get initial approval: Receive the no objection certificate (NOC) from the Department of Economic Development (DED) in Dubai or a free zone authority.
- Decide business license: Single out an appropriate license while relocating an Iranian business to Dubai from these options.
- Industrial license: Manufacturing companies need an industrial license for producing the merchandise in Dubai.
- Trade license: Commercial businesses mostly require a trade license in the UAE.
- Professional license: Service-based businesses require a professional license in Dubai.
- Prepare legal paperwork: Draft these legal documents for successful Iranian business relocation to Dubai.
- Copy of valid passport
- Photocopy of the UAE visa
- Business proposal
- Memorandum of Association (MOA)
- Articles of Association (AOA), if applicable
- Proof of residency in the UAE
- Rent/lease agreement of business premises
- Bank reference letter
- Medical certificate
- Police clearance certificate
- Acquire license after approval: Submit the application form after attaching the legal documentation to the DED or the chosen free zone authority. Pay the licensing fee and all other regulator dues.
- Register bank account: Iranian expats have to create a business banking account to conduct corporate operations and carry out financial transactions.
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Conclusion
Iranian investors must consider doing business in the UAE due to its strategic location in the MENA region. Thriving properties, tax-free environment, high revenue yields, strong legal framework, and world-class infrastructure put Dubai in great demand. The UAE and Iran are set to sign memorandum of understanding (MOU) to avoid double taxation and facilitate mutual investment.
Greater cooperation in multilateral economic institutions is the way to go for Iran and the UAE governments. Creation of a regional economic union in the Middle East is a suitable strategy for business development. Iran and the UAE can cooperate to fight global warming, climate crisis, sea level rise, desertification, and marine ecosystem destruction.
Do you want to move your Iranian business to Dubai? The UAE has a plenty of opportunities for the Iranian investors. Begin your enterprising journey with the help of KWS Middle East now. Begin your enterprising journey in Dubai with company relocation from Iran through the help of KWS Middle East now.
FAQs about Iranian business relocation to Dubai
These are the answers to the common questions about transferring an Iranian business to Dubai, UAE.
The UAE provides a pro-business environment that optimizes profits, growth, and ownership retention. Especially, corporate relocation to Dubai is a cost-effective solution for Iranian investors to maximize the revenue generation. So, you can transfer your Iranian business to Dubai to make the most of the opportunities there.
The Iran government encourages citizens to invest internationally for diversification and global opportunities, in stable economies like the UAE.
The government of Dubai has many investor-friendly policies for expatriates. For instance, foreign ownership in free zones, profit repatriation without restrictions, long-term residency visas for property investors, etc.
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