Dubai, a dynamic global economic hub, has become the vibrant and diverse capital of the United Arab Emirates (UAE), attracting entrepreneurs and investors from across the world. With its strategic location, world-class infrastructure, business-friendly policies, and attractive tax incentives, Dubai is a prime destination for companies seeking to expand into the Middle East.
For businesses from Burkina Faso looking to enter this thriving market, Dubai offers exciting growth opportunities. In this article, we will guide you through the process of setting up a Burkina Faso subsidiary company in Dubai, providing valuable insights to help Burkinabe businesses establish a successful presence in this fast-growing city.
Why Choose Dubai for a Burkina Faso Company?
Dubai is an excellent place for business setup for several reasons. Dubai’s choice for a Burkina Faso company for rapid growth and strategic vision make it an ideal business hub, acting as a bridge between the East and the West. The city boasts top-notch infrastructure, including modern transportation systems, fantastic airports, and advanced communication networks, ensuring smooth business operations.
Dubai’s business-friendly environment is another significant advantage. The government has established free zones like the Dubai International Financial Centre (DIFC) and the Dubai Multi Commodities Centre (DMCC). These zones offer 100% foreign ownership, no corporate or personal income taxes, and a straightforward company setup process, making Dubai a business-friendly haven.
Setting up a subsidiary company in Dubai offers several advantages for Burkina Faso businesses:
– Lower Corporate Tax: Dubai’s corporate tax is just 5%, significantly lower than Burkina Faso 25% Corporate Income tax, leading to substantial savings.
– Foreign Currency Flexibility: Businesses can maintain foreign currency accounts in Dubai, providing financial flexibility and control.
– Cost Savings on Currency Conversions: Dubai offers competitive rates and significant savings on foreign currency conversions, enhancing financial efficiency.
– Smooth Import/Export Operations: Dubai’s strategic location facilitates easy import/export activities, especially with African and European countries.
– Strong Burkina Faso Connection: Dubai’s strong ties with Burkina Faso make it convenient for Burkina Faso businesses, easing the deployment of employees for short and long-term assignments.
Steps to Set Up an Burkina Faso Subsidiary Company in Dubai
- Define Your Business Activity
First, determine the business activities your Burkina Faso subsidiary company will undertake in Dubai. Understanding the rules and limitations related to your chosen business activity is crucial.
- Pick a Company Structure
Choose the appropriate legal structure for your subsidiary. You can opt for a free zone entity, a mainland company, or set up a branch of your existing Burkina Faso company.
- Explore Dubai’s Free Zones
If you decide on a free zone entity, research the different free zones available in Dubai. Each free zone has its own set of rules, benefits, and restrictions. Consider the number and types of visas offered by each free zone to find one that fits your business needs.
- Reserve Your Company Name
Select a unique name for your Burkina Faso subsidiary company and get it reserved. Ensure it follows Dubai’s naming guidelines and doesn’t infringe on existing trademarks.
- Get Initial Approvals
Seek initial approvals from the relevant authorities in Dubai. This may involve submitting documents like a business plan, feasibility study, and a No Objection Certificate (NOC) from your Burkina Fasoparent company.
- Secure Office Space
Find a physical office space for your subsidiary company. The space requirements depend on the company structure you’ve chosen. Free zones often provide flexible office solutions.
- Prepare Legal Documents
Draft essential legal documents like the Memorandum of Association (MOA) and Articles of Association (AOA). These documents outline your company’s activities, shareholders, and corporate governance structure.
- Apply for a Trade License
Apply for a trade license from the relevant authorities in Dubai. This license allows your subsidiary to legally conduct business activities in Dubai.
- Meet Visa and Labour Requirements
Take care of the visa and labor requirements for your employees. This includes obtaining residency visas, work permits, and Emirates ID cards. Medical examinations and document submissions may be part of this process.
- Register with Authorities
Register your Burkina Faso subsidiary company with the Dubai Department of Economic Development (DED) or the appropriate free zone authority. This step involves submitting necessary documents, paying fees, and obtaining commercial registration.
- Open a Bank Account
Set up a corporate bank account for your subsidiary in Dubai. Choose a reputable bank that aligns with your business requirements and meets the necessary documentation.
- Ensure Compliance and Tax Registration
Ensure compliance with all local regulations and meet tax obligations. If eligible, register for Value Added Tax (VAT).
Documents Required for Registering a Business in Dubai from Burkina Faso
To set up your Burkina Faso subsidiary company in Dubai, you’ll need several important documents:
– Declaration from Directors and Shareholders
– Identification Documents
– Proof of Current Address
– Permanent Account Number (PAN) Card
– Undertaking and Declaration from Directors
– Certificate of Incorporation from a Foreign Company
– Address Validation for Foreign Companies
Verification of Registered Office Address for Burkina Faso Company:
– Lease agreement, property ownership deed, or sales agreement.
– Recent electricity bill or receipt for society maintenance charges.
– No Objection Certificate (NOC) from the property owner (lessor).
– Board resolution (if the premises are owned by a legal entity).
These documents ensure compliance with the necessary regulations for setting up your Burkina Faso company subsidiary in Dubai.
Conclusion
Choosing Dubai for establishing an Burkina Faso subsidiary company comes with numerous advantages. The vibrant business community, strategic location, and investor-friendly regulations make it an appealing destination. For companies aiming to expand into the Middle Eastern market, Dubai stands out due to its well-established infrastructure, enticing incentives in free zones, and efficient company formation processes.
How Unicorn Global Solutions Can Help
Getting advice from Unicorn Global Solutions, who specialize in setting up Burkina Faso company subsidiaries in Dubai, can streamline the process and ensure compliance with all regulations. With their expertise, entrepreneurs can confidently navigate the intricacies and make the most of the opportunities offered by Dubai’s thriving business environment. Text us on WhatsApp or call us today.
