Answer: The main types of business entities in Dubai include Limited Liability Companies (LLC), Free Zone Establishments (FZE), Free Zone Companies (FZC), branches of foreign companies, and sole proprietorships.

Answer: The steps include selecting the business activity, choosing a legal form, registering the trade name, applying for initial approval, drafting a Memorandum of Association (MoA), obtaining necessary government approvals, and receiving the trade license.

Answer: The timeline can vary, but generally, it takes between 1 to 3 weeks to set up a business in a free zone and slightly longer for mainland companies due to additional requirements.

Answer: The cost can vary widely depending on the type of business, location, and other factors. Free zone companies might start from around AED 10,000, while mainland companies could cost more.

Answer: Dubai offers significant tax advantages, including no personal income tax and no withholding tax. Free zone companies also benefit from VAT exemptions.

Answer: Yes, you generally need to have a physical office space in Dubai, though some free zones offer flexible options like shared workspaces or virtual offices.

Answer: Yes, you can open a bank account for your Dubai business. However, the process requires proper documentation, including your trade license, Memorandum of Association, passport copies, and proof of address. Kensington can help you with the process. 

Answer: Yes, business licenses in Dubai need to be renewed annually. The renewal process involves updating the required documents and paying the renewal fees.

Answer: Choosing the right free zone depends on factors such as the nature of your business, the proximity to markets and suppliers, infrastructure facilities, and the specific benefits offered by each free zone. Consulting with a business setup advisor from our team can help you make an informed decision.