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Company setup in Expo City, Dubai

State dutyloading

Terms days

This company can engage in the sale of furniture for various educational institutions, hospitals, clinics, laboratories, etc. This type of furniture includes chairs, tables, cabinets, desks, beds, shelves, safes, display cases, and it may be made partly of wood, metal, plastic, fabric, or entirely of cane and bamboo. In addition, such companies are allowed to provide installation, repair and maintenance services for the equipment they trade in. The activity may also include the provision of installation, repair and maintenance services for the furniture that the company works with.

About the company's activities

Types of activities

The following business activity has been selected for the Expo City Dubai company setup:

Schools, Hospitals & Laboratories Furniture Trading (4773921). Includes reselling furniture for schools, universities, educational institutes, hospitals, clinics, laboratories and others, including seats, tables, cabinets, desks, beds, shelves, safes, display windows, whether partially of wood, metal, plastic or fabrics, or totally made of cane and bamboo, such firms are allowed to carry out the installation, repair and maintenance services for the equipment they deal in.

The company can choose from 5 to 7 types of business activities from the "Furniture trading" activity group under the same license without additional fees.

Additional External Regulator Approvals

No additional approvals are required to register a company conducting this business activity.

Share Capital Requirements

The minimum share capital required for Expo City Dubai company is AED 10,000. Its contribution is optional.

Company name requirments

Must not violate the country laws or contain words that are obscene, indecent or generally offensive
Must not contain the names of Allah, Buddha or God, or any other religious terminology
Must not infringe any third party's intellectual property rights
Must not be identical or similar to local/global brands or registered trademarks
Must not contain geographical names, such as the names of emirates, cities, countries and other landmarks
Must not contain the names of local/international religious, political or governmental organizations
Must correspond to the company’s business activities

Bank Account

Entrepreneurs can open corporate accounts in traditional banks with physical branches, as well as in digital banks and payment systems.

When choosing a bank to open a corporate account, consider the following: service level, fees, available currencies, online banking performance, bank reputation, as well as other conditions that may be important for your business.

Successfully opening a corporate bank account requires a well-prepared documentation package, which may vary depending on the specific requirements of each bank. Documents submitted incorrectly or incompletely may negatively affect the bank's final decision in processing the application.

About Jurisdiction

Name and Description

Title: Expo City Dubai
Description:
Expo City Dubai is a free economic zone (free zone) established in 2022 in the Emirate of Dubai, UAE. Located on the grounds of the former Expo 2020 Dubai, the free zone carries forward the legacy of this global event, transforming into a modern business and innovation hub focused on sustainability, advanced technologies, and international collaboration.

The free zone provides companies with access to high-tech infrastructure, including state-of-the-art office spaces, research centers, and world-class exhibition facilities. Businesses registered in Expo City Dubai are permitted to operate both within the free zone and beyond the UAE.

Expo City Dubai issues the following types of business licenses:
- Commercial (wholesale and retail trade)
- Service (provision of services)
- Industrial (manufacturing)
- Freelance
Expo City Dubai’s prestigious status as a center for innovation and sustainability attracts leading technology companies, startups, and research organizations, fostering a dynamic ecosystem for business operations. With its strategic location, focus on innovation, and integration with global markets, Expo City Dubai serves as an ideal platform for companies striving for international success and strengthening their positions in the rapidly evolving business world.

Tax regime and income management

The UAE has several taxes and fees that regulate the financial activities of both legal entities and individuals. Below are the main ones.
1. Value Added Tax (VAT)
  - Since January 1, 2018, the UAE has implemented a VAT rate of 5%, which applies to most goods and services and is charged to companies operating within the country, except for those registered in designated zones.
  - A Designated Zone is a territory within a free zone that is treated as outside the UAE for tax purposes, allowing goods to be exempt from taxation, provided certain criteria are met. The main taxation rules in Designated Zones are as follows:
  - For local companies and those registered in Non-Designated Zones (free zones not included in the Designated Zones list), the standard tax rules set forth in the Federal Decree-Law on VAT apply.
2. Corporate Tax
  - As of June 1, 2023, the UAE has introduced a corporate tax at a rate of 9%, levied on the taxable net profit of companies with income exceeding AED 375,000.
  - A 0% rate is applied to taxable income not exceeding AED 375,000.
  - Charitable, non-profit organizations and medical institutions are fully exempt from corporate tax.
3. Excise Tax
  - Since October 1, 2017, the UAE has introduced an excise tax aimed at reducing the consumption of harmful products and funding healthcare initiatives. The tax applies to alcohol, tobacco products, and beverages containing added sugar, including energy drinks and carbonated beverages.Excise tax rates vary depending on the product category:
  - Companies dealing with excise goods must register with the Federal Tax Authority (FTA), submit monthly declarations, and maintain records. Excise tax is paid upon the import, production, or release of goods for consumption in the UAE.
4. Customs Duties
  - Custom duties in the UAE are applied to most imported goods at a standard rate of 5% of the cost, insurance, and freight (CIF). Exceptions include certain categories of goods, such as medicines and food products, which may be exempt from duties or subject to a reduced rate.
  - Goods imported into UAE free zones are generally not subject to customs duties as long as they remain within these zones. However, when such goods are transferred to the UAE mainland, standard duties apply.
5. Personal Income Tax
  - In the UAE, personal income is not subject to taxation.
  - UAE citizens and residents are exempt from paying taxes on their personal income, including salaries, interest, dividends, inheritances, gifts, luxury goods, and capital gains.
6. Local Taxes and Fees
  - Individual emirates may impose specific local taxes and fees in line with their economic and social needs. These taxes and fees are aimed at supporting public services and implementing infrastructure projects.

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