Foreign companies attract business to the UAE every year. Dubai is the largest business center in the world with a combination of multiculturalism.
It is a good market and an excellent Middle Eastern product. To do business in Dubai, one has to register a company with the government.
Everyone has two options for registering a business in Dubai: setting up a continental business and setting up a free zone. The government offers both types, taking into account the different types and technical requirements of companies. The business’s operating capacity and size are two other factors that influence the two types of business decisions.
Company formation in Dubai– Process, Tips and Tricks
The entire registration process completes in no time. The best part about doing business is that foreign investors can have 100% control over their own business. You can register a new company or open a branch if necessary. You always need to make sure they have their national service provider. This agent must reside in the UAE, which designates as the liaison. Registration will not be complete without a local agent.
Choose the Type Of Company
You have to choose the company you want to be involved in your business. The business category determines by the activity you choose. The classes can be tourism, industry, trade, and others. All types of activities have different laws to govern them.
Decide The Legal Business Structure
You must choose a legal form of business. Your business can have many different traditional forms and laws that apply to it. It makes the processes and regulations smooth for the business community in Dubai. You decide whether your business is a sole proprietorship, limited liability company, or one of a kind.
Choose Trade and Business Names
The next step is to name your company. Copyright in the UAE is strict, and there is no compromise on intellectual property. Order the agreement by paying a fee to the relevant authorities. Name reservation is temporary unless the name registration fee pays within three days. Trade mark registration in dubai is very easy if you follow steps properly.
Apply and Get Initial Approvals
A certificate of objection you get from DED. It is the first license to continue business development and obtain a business license. The first permit is required to obtain commercial permission. However, that doesn’t mean you can run your business. There are still a few more steps to take before you can start your business.
Depending on your company’s legal form, the club memorandum may need to be signed. This Memorandum is required for corporate or local service representatives as required by law for certain types of businesses in Dubai and the United Arab Emirates in general. Without a local service representative, foreigners cannot own or operate a business in the UAE.
Finalize Office Locations
Your business in Dubai must exist physically. The leases that you sign with the building or premises owner are also certified by Ejari. Property regulators require prior approval and other essential documents. Further approved agreements are also required to issue commercial licenses.
Apply and Get License
Licensing approvals from other government agencies and local and federal levels are sometimes required depending on business activity. It depends on the jurisdiction of the government body conducting the business. If you are setting up a new restaurant, you may need to contact the wholesale department for approval before operating.
Once you have obtained the necessary permits from all participating government departments and obtained a commercial license, your company incorporation process is complete.
Cost of Company Registration
The fee for registering a company consists of different fees charged in extra steps by the competent authority. Pay the prices within a certain period for each step.
The expected cost of registering a business in Dubai is close to AED 9,500 (changes vary in UAE rules and regulations), including all certification fees and all processing fees. Some of the costs associated with the process are annual, but others only have to be incurred once when registering a company.
The final step in starting your business in Dubai is getting a visa. Apart from applying for the ticket yourself, you can also use it for employees and dependents in many free zone areas. The exact number of applications you can apply for depends on the free zone you choose.
Therefore, it is best to seek advice from experts when applying for a visa for your spouse, child, helper, or driver, first in the designated free zone, secondly, for you and anyone wishing to sponsor all entry requirements.
The process consists of four separate stages during which all of these examinations accept: entry fees, status adjustments, medical fitness tests, and registration of identity cards and visa stamps.