Business setup in Dubai is only a few formalities away when undertaken with the help of the Department of Economic Development- which makes Company formation in UAE much easier and less lengthy. Due to a stable political structure and a consistently flourishing economy, one can easily start a business in Dubai with umpteen numbers of opportunities and booming projects.
Let us put down the sure shot ways to a company startup in Dubai. Following are the elements that systematically help you set up your own business in a hassle-free manner.
1. Type of Business structure
Based on the business requirements, there are three broad business structures identified by the Government of the UAE. These are:
- Free Trade Zone companies
- Mainland Companies
- Offshore Companies
There are over more than 50 free trade zones available in Dubai alone. And free zone company formation in Dubai offers a few advantages such as,
- 100% company ownership
- Exemption from corporate and personal taxes
- Import or re-export of goods and others
For more details regarding business structures, contact Business Link UAE, Business Consultant in Dubai.
Business Startup in Dubai Mainland allows aspiring businessmen to start a business with assistance from a local person known as’ local sponsor’ who helps them with any business queries pertaining to the country. LLC, Industrial, Commercial, Professional license, and representative office license are the main types of licenses offered in this business startup category.
Offshore jurisdiction enables one to conduct businesses in the Middle East in the most profitable manner. It rules out the generally cumbersome process of getting company docs attested by various embassies and ministries of foreign affairs.
For 100% company ownership, you need to apply for a license and location in either of the available free zones in Dubai. Clarification in the above first step will assist you with the best option.
3. Legal Forms
A few rules apply towards the making up of your firm. You must apply through a legal form not as a sole proprietor but either as a stand-alone company or a branch. And this changes with each free zone. Get to know more about legal documents, contact our professional business setup consultant in Dubai.
4. Name of Trade
The inclusion of the trade name is a mandatory part of the entire legal procedure followed in setting up your company. It helps to indicate the nature of the business that you conduct.
5. Capital share
Business setup consultant in Dubai requires one to set minimum share capital only once in the MOA (memorandum of association). It is not required later at the time of setting up of the company.
6. Setting premises
After you have kept all your legal forms ready and are on the go with the procedures, free zone jurisdiction can help you select premises along with amenities such as electricity, internet, water, and others. Here you are set on a clear path to business goals.
7. Hiring Staff
In most DED legal forms, it is required that you have a manager ready to join on board even before completion of the registration process. Whereas, in some other places, that may not be required. Based on the business structure, some free zones allow investors to hire contractors instead.
8. Local Sponsors
Business Startup in Dubai Mainland would need foreign investors to have a local agent or sponsor to assist in the business activities. This, however, isn’t a mandate for free zones. This is because Dubai is budding as a popular destination for businessmen across the world irrespective of their nationality.
Without proper guidance, all your business setup activities may turn up to be pricey, strenuous and time-consuming. At Business Link UAE, our reputation for having a reliable relationship with our clients is the reason enough for our goodwill in Dubai company formation and legal documentation industry. Rest assured that all your approvals and visas will be processed on time.