How UPI Payments Facilitate Mainland Company Formation in Dubai

Mainland company formation in Dubai can open doors to profitable and favourable ventures. Whether you are a corporate or private investor, you can register with the Dubai Economic Department (DED) to get a licence to run your business within the commercialised geographic jurisdictions in the UAE and serve clients overseas.

At Virtue Corporate Services, we aim to simplify the process by offering all the information and assistance you may need to set up your business in Dubai Mainland. A successful business setup can offer you new opportunities for long-term success and growth while giving you access to first-class commercial advantages and tax savings. We will guide you through the official registration process and assist you in acquiring business permits from specific economic divisions. You can depend on our personalised service and expertise if you need help navigating the regulatory landscape.

As specialists in mainland company formation in Dubai, we can also assist clients with anything they need to establish and run their operations, including providing tailored advice on payment methods.

If your company works with Indian clients and tourists, you can benefit from the availability of UPI QR payments in the UAE. This is all thanks to Network International, the MEA (Middle East and Africa) region’s leading digital commerce enabler. Network International has partnered with NPCI International Payments, Ltd. (NIPL) to enable QR code-based Unified Payments Interface (UPI) payments across its POS (point-of-sale) terminals in the Emirates.

UPI payments were officially introduced in the UAE at a recent event in Dubai, with His Excellency Satish Kumar Sivan (Consul General of India to the UAE) and the senior representatives from NPCI International and Network International present. Keep reading to learn how UPI payments can revolutionise a mainland company formation and operations in Dubai.

Ensuring seamless transactions

UPI payments will facilitate smoother transactions for Indian tourists through the vast merchant network of Network International in the UAE. Network currently has more than 200,000 POS terminals in 60,000 merchants in hospitality, transport, retail, and other sectors.

If you are considering mainland company formation in Dubai, accepting UPI payments will allow your business to cater to Indian customers. QR-based payments continue to be appreciated by tech-savvy customers who prefer to go cashless when paying for goods and services.

Roll out

UPI QR-based payments will be implemented progressively to cover different establishments, such as dining outlets and retail stores. They will also be rolled out in leisure and tourist attractions such as the Mall of the Emirates and Dubai Mall.

UPI Payments and their role in Dubai’s economy

The joint effort between NIPL and Network aligns with the Emirates’ vision to reinforce its position as one of the world’s top tourist destinations and global hubs for businesses and commerce. It’s important to understand this update because your mainland company formation in Dubai could potentially cater to a significant number of Indian tourists and clients. After all, the number of Indian tourists visiting GCC (Gulf Cooperation Council) countries is expected to reach 9.8 million in 2024. By accepting UPI payments, your business can contribute to the UAE’s efforts to strengthen its reputation.

Discover India’s biggest instant payments system

UPI is the largest instant payment platform in India, with more than 350 million active users. It has processed over 14 billion transactions in May 2024 alone. Network International aims to provide a QR-based, secure and safe method to facilitate cross-border payments by implementing UPI acceptance via its POS terminals. This will enable NRIs and Indian tourists with Indian bank accounts to make payments via UPI in the UAE.

Simplifying your mainland company formation

Are you an Indian national considering mainland company formation in Dubai? We can help. Our experts at Virtue will walk you through the process to eliminate the guesswork. When you apply for your licence at the DED, we will update you about paying the necessary fees with UPI.

Contact us today for a free consultation. Call +971-501152351 or connect with us through WhatsApp.