BUSINESS SETUP IN DUBAI
The United Arab Emirates has one of the world's fastest growing economies. It is home to many startups, medium and large scale businesses.so if you are looking to setup a business in UAE, but unaware of the legal activities goes behind it.In this article we, UBL will guide you how to do a business setup in Dubai.
Business setup in Dubai involves services like business incorporation, business registration, Local sponsorship, PRO services, accounting and auditing, Local sponsorship, financial consulting, VAT registration, setting up a regional office etc.
HOW TO START A BUSINESS IN UAE
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Select your business activity
In Which free zones you can set up your business or shop depends on the nature of your company. For example if your business is more about export and import you may want to choose free zone near to airport.
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Choose your jurisdiction
UAE business market is divided into three economic zones such as mainland, free zone and offshore. It is also known as jurisdictions. Select zones according to your business activity.
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Select the company structure
Registering your business under a company structure or legal forms is an important decision while starting a business in UAE.It is helpful for dealing with profit and losses and how you should organize your assets and resources.
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Obtaining approval for your business's name and activities
The Department of Economic Development (DED) must approve your company's trade name and the business activity you've chosen, before you begin the process of starting your business in the UAE.UAE has some strict rules while naming a company. Any company names with offensive terms are banned, as are any names that refer to Allah, Him, or any other religious, sectarian, or political entities, such as the FBI or the Mafia.
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Apply for Trade License
In the United Arab Emirates, there are four different types of trade licenses, also known as business licenses. If you plan to do business on the mainland, you can apply for either of these.. Such as
- Commercial License
- Industrial License
- Professional License
- Tourism License
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Register your company
The registration and licensing of a company happen simultaneously. The documentation and approvals process, on the other hand, goes through many phases. During this process, you must obtain all necessary approvals from government agencies, as requested by the Department of Economic Development. Each type of business and activity has its own set of records.
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Find a Local business Partner
A local sponsor is needed to start a business in the UAE. The local partner should be UAE national only.
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Draft your memorandum of association
Draft tour MoA according to the UAE governments rules and also consider your business interest.
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Get your Trade license
After getting all your initial approval from DED.you can apply for business license. Initial approval from UAE government indicates that they do not object you from starting your business in UAE.
So if you are new to UAE and want to do a business set up in UAE .dont know where to start? We UBL can assist you in building your business. Our consultants can help you in your company formation in Dubai .Our Business setup in Dubai involves services like business incorporation, business registration, Local sponsorship, PRO services, accounting and auditing, Local sponsorship, financial consulting, VAT registration, setting up a regional office etc. We serve clients all over UAE from startups to medium and large scale businesses.
