Establish a company in Dubai
To Establish a company in Dubai should not take you more than a week once you’ve organized all your legal procedures.
Dubai always encourages people to establish a company in Dubai. No wonder Dubai is starting to appeal the eye of business investors since it started to show its economic constancy to the global market
Present market tendencies in Dubai offer plenty of chances for overseas investors to tap into imports and export of merchandises, as well as taking benefit of the rising tourist traffic of the city for a nearly limitless number of possible clients and customers successful your way.
You need to get familiar with the numerous facts related to a business startup in Dubai and evade the problems mostly met while initiation a profitable enterprise in Dubai.
Before you start your legal procedures, you need to deliberate some elements required in the process to establish a company in Dubai
Type of business to establish in Dubai
The type of business will regulate the kind of license you require. Whether it’s profitable, professional or industrial licenses, these will define the basis of your operations
Select a local sponsor, a UAE national to establish a company in Dubai
There are plenty of business chances available in Dubai, as well as in the other Emirates of UAE. However, if you want to establish a company in Dubai which must exploit the potential of Dubai, then you need a locally registered LLC business.
A UAE national must be taken as a 51% partner who is called a local ‘sponsor.’ A local company provides the freedom to locate the business anywhere in the city. For a business startup in Dubai, this is a boon because it affords the best choice of locations to suit your budget.
A sponsor must be paid a yearly fee which can be negotiated. Do develop a rapport with your sponsor so that he is ready to help you in sorting out any problems you may face along the way with authorities.
Select a Free Zone if you wish to own your business 100%
Keep in mind that the only way for a business startup in UAE to start without taking a UAE national acting like your partner is to locate your business in one of the Free Zones. This is not practical for businesses that must be in city markets like restaurants and retail stores. Also, companies that work with the government have to register with a local sponsor.
Not to mention the fact that purchase or rental in a Free Trade Zone district might be high for your budget to handle.
For a business startup, Free Zones offer three great advantages
- 100% ownership
- Speedy startup
- Duty-Free customs boundary.
Depending on your location and type of business, there are rules regarding the make-up of your firm. For example, if you plan on a legal consultancy firm, this can be done only as a branch of the company or as a stand-alone company. A sole proprietor is not allowed to take up this activity. Each free zone has its restrictions regarding company structure, and you can look these up on the official website of the region.
Trade Name required to Establish a company in Dubai
Your trade name is an essential part of the legal procedure. The company name should ideally indicate the nature of business unless it is a branch of another company. All the rules regarding trade names can be seen on the DED official website here.
The minimum share capital is usually set out in the Memorandum of Association of your proposed company. In most cases, you do not need to pay minimum money at the time of setting up.
In most legal forms of the DED, you need to hire a manager to oversee operations and have him ready to be on board before your registration is approved. But in other cases, you may not be allowed to hire at all. For example, Intelaq license holders (license for home-based Emirati business owners) are not entitled to hire staff but can engage contractors. Details can be seen here. For free zones, each zone has its specific regulations regarding the structure of the business.
Local support to Establish a company in Dubai
For DED licenses, it is mandatory to have a local agent, partner or sponsor and this is excellent support for foreign nationals. For free zones, having a local contact can help take the business forward effectively. However, this is not mandatory, and Dubai as a business destination boasts an easy set-up for all businessmen regardless of nationality.
Receive your license notification
This is the most natural step of all. Once your application has been processed, the government will issue you with your company license. At Virtuzone we notify our clients when their documents are ready to be collected.
Open a bank account
Once your paperwork has been returned, you will have all the documentation you need to open your corporate bank account. The UAE is home to many banks, both local and international, including Emirates NBD, Abu Dhabi Commercial Bank and the Commercial Bank of Dubai, along with global names, such as HSBC, Citibank, and Barclays. You either approach the bank of your choice or ask your business set-up partner to arrange meetings with some institutions to help you choose the most suitable option.
Process your visa to Establish a Company in Dubai
And so to the final step of company formation in Dubai. As well as applying for your visa, many free zones allow you to put in applications for staff and dependants – the exact number you can submit will depend on which free zone you choose to set up in. So, if you are looking to obtain visas for a spouse, child, maid or driver, it is best to seek expert advice to ensure that firstly, it is possible to do so in your chosen free zone, and secondly, that both you and anyone you are hoping to sponsor for a visa meet all of the entry criteria. The process is made up of four simple stages: entry permit, status adjustment, medical fitness test, then Emirates ID registration and visa stamping.
That’s it! With these six steps completed, you’re good to go and do business in your chosen UAE free zone.
Make it easy with a business set-up partner
Company formation in Dubai is not only simple, thanks to the accommodating conditions of the free zones, but with the right experienced support, the process can be completed in just over one week.
Of course, I’ve simplified it somewhat. Each step can throw up complications that could derail the inexperienced applicant, and that’s where a business set-up partner like Virtuzone comes in. A little local knowledge goes a long way, and we can guide you through all six steps, as well as liaising with UAE government authorities on your behalf along the way and spotting potential problems before they arise
Mor Business Setup Services
Mor Business Setup & Document Clearing pride in its strong connection and wide experience with the UAE Government Subdivisions. We have a very professional code of practice when setting up your new Company or clearing your documents. Based on the decision of the company to expand our services. We are looking at your extreme support and healthy relationship forwards. We request you to acknowledge our Services, and we also look forward to your esteemed cooperation.
Mor Business Setup & Document Clearing has been established as a Document Clearing Services L.L.C. in Deira, near Deira Metro Station, Dubai.However , Our clear vision in this field and experience in the business model in Company formation and Document clearing for all types of companies as well as individuals provide us with satisfactory customers and healthy relationship. Our mission is helping people in getting UAE Residency visas for your employees and Family. – Forms & Applications Typing, Effective Professional Resumes Renewal or New Medical Health Card Typing, Family New Residence Visa Typing (Renewal), Short Term and Long Term Visit Visa, Typing, International Visa Procedures, and submitting all kind of government-related documents, forms and e-forms on a smart way by the professional and specialized team. We promise to use all our human resources and our experience to help you. Apply for Emirates ID, Immigration, Visa, Residency permit. You can also apply for Medical, Ejari, Company Formation, Dubai Court. Free-zone Services, or any too many other related services promptly.