I concur with what
@ledger posts. Setting up a FZE Company (which is the 1 shareholder type of incorporation, ie, the cheapsest one around) costs between $8 to $12K depending on the Free Zone (I suggest you look into Ajman and/or Umm Al-Qwain as these 2 are the cheapest and more flexible ones) and the type of license you choose. This will include 1 residence Visa for the owner/shareholder (who will be able, at a later stage, to sponsor residence visas for his dependents/couple). Also bear in mind that agents there (you may want to look at the list of registered agents for RAK ICC
Registered Agents as a good starting point for reputable ones), will charge you between AED 2,500 (approx $700) and upwards of AED10,000 (approx $3,250) for the service.
* Company Renewal costs start around $6K (haven't seen anything less) per year. Visa renewal is after 2/3 years (the latter for company owners), and is betweem $1,300 and $2K all-in. I would avoid at all costs the previously good RAK (or other) Offshore type of company if you plan to do business banking in the UAE, as it's not going to happen. However, you might bank in Mauritius or
Seychelles with that type of company (
ABC Bank or Afrasia might accept you, but increasingly difficult).