How long does it take to set up a company in a UAE free zone?

Most traditional UAE banks require at least one in-person visit for corporate account opening due to KYC requirements. However, some banks and fintech providers now offer remote or semi-remote account opening processes. Neobanks and EMIs like Wio, Mashreq Neo, and various fintech platforms may allow remote onboarding for certain business types. Having a professional banking introduction service can significantly improve approval rates.

VAT registration with the Federal Tax Authority is free of charge. However, most businesses engage a tax consultant or accounting firm to handle the registration process, prepare the necessary documentation, and ensure compliance. Professional fees for VAT registration assistance typically range from AED 1,000 to AED 5,000 depending on the complexity of the business structure.

For a Golden Visa application in the UAE, you typically need a valid passport, passport-sized photos, proof of qualifying investment or income, medical fitness certificate, Emirates ID application, health insurance, and supporting documents specific to your category such as property title deeds for investors or salary certificates for specialized talents. Requirements may vary by category and emirate.

Since the introduction of the amended Commercial Companies Law, foreign nationals can now own 100% of mainland companies in most business activities without a local sponsor. However, certain strategic activities still require a UAE national partner. It is recommended to consult with a business setup advisor to confirm whether your specific business activity qualifies for full foreign ownership.