UPPERSETUP: How New UAE Online Service Helps to Incorporate a Trading Company in the Emirates
Written by Vitaliy Chiryassov, CEO of UPPERCASE
In 2023, the UAE’s non-oil trade market surpassed $953 billion, making it by far the largest trade hub in the Middle East. This market is enormous, and it creates profitable opportunities for businesses that operate both domestically or internationally — with no restrictions anywhere in the world.
That’s why, along with incredible support and well-developed infrastructure through free zones, easy import rules, ability to trade under the UAE flag, and lucrative opportunities for re-export, thousands of trading companies of all sizes — from small to medium to large — choose to enter the UAE market and establish their base of operations.
However, there’s a downside: registering a new company in the UAE can be difficult, especially if you’re doing it on your own. In this article, then, we’ll look at different paths you can take to register a trading company in the Emirates — and explain how this process is made easier through the help of AI.
Why Registering a Trading Company in the UAE Can be Challenging
Setting up a trading company in the UAE is not as easy as it seems. Despite the promises of some free zones to do everything online — this route exists, but comes with restrictions. Let’s look at the challenges one at a time.
Firstly, there’s the choice between setting up in a free zone or on the mainland. Free zones offer benefits such as tax exemptions, but are restricted from trading within the wider UAE. Mainland companies can trade freely within the local market, but they’re much harder to set up.
Secondly, even though the UAE’s known for efficiency when it comes to company setup, you can still run into some amount of bureaucracy (no government is 100% perfect) — particularly when registering a mainland company. To obtain the licenses, permits, and approvals you need to trade, you’ll have to deal with multiple governmental departments, carefully study the specific procedures of each, and prepare the necessary documentation: detailed business plans, information about key shareholders such as previous work history, just to name a few.
Thirdly, without assistance, it’s easy to get confused by the various regulatory requirements in the UAE. The UAE has different regulations for each emirate and even for each free zone, so complying with local laws can be complex. For example, you may need to prepare different documentation to obtain the necessary permits and licenses depending on the emirate. Failure to comply with these requirements may delay your incorporation application or even result in its rejection.
Advantages of Opening a Trading Company in the UAE
Despite the challenges mentioned above, thousands of trading companies still choose to venture into the UAE market. Why is that? There are a few key reasons that make the UAE a unique launchpad for trading businesses.
Firstly, Free Zones offer significant advantages to trading businesses operating internationally. In these zones, goods can be imported, manufactured, and then re-exported without customs duties. Some Free Zones even provide online services for handling import documentation, which significantly reduces processing time.
Additionally, businesses in Free Zones incur zero taxes on imports and re-exports. This means you can import goods, store them duty-free, and then re-export without the typical costs.
This is a testament to the UAE government’s support for trade development in the country. Another key advantage is geography. The UAE is strategically located near Europe, Asia, and Africa, making these regions easily accessible by air or sea.
The country has advanced infrastructure for air transport, a modern road network, and maritime operations, with ports like Jebel Ali in Dubai and Khalifa Port in Abu Dhabi being some of the most advanced in the world.
This is further supported by a series of trade agreements. For instance, the UAE’s membership in the Gulf Cooperation Council (GCC) makes it part of a Free Trade Agreement with the European Free Trade Association (EFTA), which includes countries like Switzerland, Norway, and Iceland.
In short, registering a trading business in the UAE makes perfect sense. And now might be the best time to do so, thanks to the recent launch of an innovative AI platform in the Emirates that aims to streamline company formation, including that of trading businesses.
What is UPPERSETUP and How it Can Help you Register a Trading Company
UPPERESTUP is a new online platform operating in the UAE market. At its core is an intelligent AI assistant that simplifies the process of starting a business in the Emirates.
The platform offers a new approach to business registration. Its creators, UPPERCASE, a well-known business consulting firm with 15 years of experience, aim to democratize business consulting. Here’s how it works:
- First, you visit the platform, answer a few questions about why you’re creating a company, and get the best recommendation for where to incorporate your business.
- Then, once registered, you’ll interact with an AI assistant, providing details about your trading business.
- In return, you’ll receive a step-by-step registration process: document preparation checklists, recommendations for optimal business locations, timelines, costs, and more.
Below we’ve outlined 5 ways in which UPPERESTUP makes opening a trading company easier:
1. Smart Location Recommendations
UPPERESTUP’s AI can analyze your business objectives and suggest the best location to incorporate your trading company.
The platform will help you choose between a free zone, which is suitable if you are operating outside the Emirates, or a strategic mainland area to access the local market. In both cases, you’ll receive recommendations on specific emirates, free zones or locations selected to meet the needs of your specific business-context.
Once you have a curated list of options, you can compare them based on key factors such as:
- Access to logistics infrastructure.
- Incorporation requirements.
- Initial set-up and ongoing operating costs.
UPPERSETUP’s business dashboard eliminates guesswork in the registration process for your trading license. It provides real-time status updates on your application, allowing you to view the current stage and access or modify submitted documents. The system alerts you to upcoming requirements and facilitates direct communication with the support team. This feature ensures you’re always informed about your application’s progress, reducing anxiety and allowing for better business planning.
2. Cost-Effective Consultancy Model
UPPERSETUP introduces a pay-as-you-need approach to business consultancy.
While core AI-powered guidance is free, expert assistance is available on-demand with transparent pricing. This model significantly reduces costs compared to traditional consultancy firms. What’s more, completing some registration actions on the platform by yourself may earn you cashback, which you can spend on additional services.
3. Comprehensive Business Management Support
UPPERSETUP can assist you with more than just setting up a company in the UAE. The platform covers other aspects of managing a trading business in the Emirates. For example, you can get advice on suitable payment solutions for international trade or which corporate bank account to open for a trading company.
What’s more, UPPERSETUP will help you obtain residency and visas – both for you and your employees – as well as manage local accounting and tax requirements.
4. Always Current Regulatory Information
The UAE business landscape is evolving rapidly. UPPERSETUP has a knowledge base that keeps track of the latest business laws.
The platform provides regular updates on the latest legislative changes, with all information verified by commercial law experts. An AI-powered search function allows quick access to relevant data. This can help you make informed decisions based on the latest regulations and reduce compliance risks for your trading business.
5. Business Dashboard That Provides Real-Time Updates
UPPERSETUP’s business dashboard eliminates guesswork in the registration process for your trading license. The dashboard provides real-time status updates on your application, allowing you to view the current stage and access or modify submitted documents.
The system alerts you to upcoming requirements and facilitates direct communication with the support team. This feature ensures you’re always informed about your application’s progress, reducing anxiety and allowing for better business planning.
Wrapping up
Setting up a trading company in the UAE gives you access to the largest trading market in the Middle East – the country’s non-oil trade market is expected to exceed $953 billion by 2023. However, the process isn’t without its challenges.
While it’s possible to complete the registration process yourself, it can be time-consuming and carries the risk of rejection. However, hiring traditional business consultants can be too expensive for startups.
That’s where UPPERSETUP comes in. The platform combines AI technology with human expertise. It can help you choose the best location to set up your business, keep you up to date on
It can keep you up to date with the latest regulatory information, and support you beyond just setting up your company, helping you with visas, banking and more.
You’ll be well-positioned to tap into the Emirates’ thriving trade market.
