{
  "id": 14165182,
  "title": "The trade license is the easy part: What founders leaving high-tax countries really need in Dubai",
  "url": "https://urgent.news/2026/10/13/the-trade-license-is-the-easy-part-what-founders-leaving-high-tax",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-13T09:11:19.000Z",
  "source": {
    "name": "Gulf News",
    "slug": "gulf-news",
    "url": "https://gulfnews.com/gn-focus/company-news/the-trade-license-is-the-easy-part-what-founders-leaving-high-tax-countries-really-need-in-dubai-1.500708653"
  },
  "original_language": "en",
  "account": "For international entrepreneurs looking to establish a business in Dubai, a trade license is just the beginning. Transitioning to Dubai involves addressing multiple critical aspects, including banking, tax, residency, and compliance. While the trade license is a crucial first step, it is merely one piece of the puzzle. A successful business in Dubai depends on a multitude of factors that are intricately connected to the trade license.\n\nGenZone LLC, a Dubai-based firm founded by Canadians Kevin McKenzie and Shayan Nasiri, specializes in assisting founders from countries with high tax rates, such as Canada, the UK, Australia, France, and various European nations, in navigating this complex landscape. The firm has evolved from a modest two-person operation to a team of around 30, now serving clients from over 50 countries.\n\nThe process of obtaining a trade license, while straightforward, is often followed by significant challenges in aligning it with banking, visa, and tax provisions. McKenzie highlights that the trade license alone does not resolve the tax issues back home. Many founders, for instance, may be subject to high income tax rates in their home countries and must navigate complex residence requirements upon moving. Furthermore, each country has its own set of rules for tax residency, departure taxes, and the implications for their assets.\n\nFree zones in Dubai offer advantages like 100% foreign ownership and are suitable for globally oriented businesses, whereas mainland companies provide benefits for those operating within the UAE. The choice between these structures must be made carefully, with proper documentation supporting the decision. A free zone license does not inherently offer a tax advantage; it is merely a structural choice that must be justified in the filings.\n\nFor non-resident founders, a US LLC can be beneficial for accessing American markets and banking systems, such as Stripe, PayPal, and Amazon. However, setting up a US LLC involves overcoming hurdles like obtaining an Employer Identification Number (EIN), which can take weeks for non-US residents. GenZone claims to be the fastest provider of EINs for non-resident founders, delivering within three to five business days. However, forming a US LLC carries risks, such as potential IRS penalties for non-compliance, which can amount to $25,000.\n\nMany founders opt to establish both a Dubai company and a US LLC simultaneously, recognizing the complementary nature of these structures. However, implementing them sequentially can create compliance issues, as income attribution and tax obligations become ambiguous. GenZone emphasizes the importance of meticulous planning during both the exit from the high-tax country and the arrival in Dubai, ensuring that all elements align seamlessly.",
  "summary": "For international entrepreneurs, incorporation is just the beginning. Banking, tax, residency, and compliance all need to align, often across two continents. Ask founders who have moved to Dubai what it took to get started, and the first answer is usually \"a trade license.\" But that's only part of the story. A business's success hinges on everything connected to that license: a bank willing to…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}