11 Nov Here are the Key Steps to Business incorporation in Dubai
Entrepreneurs, new-age investors, and established business owners from around the world find a home for their ventures in the UAE. Business incorporation in Dubai is straightforward, highly lucrative, and presents multifold growth opportunities. You can enjoy several tax exemptions, free zone establishments, exclusive business privileges, and a lot more in the UAE.
The cost-effective business setup in Dubai alongside 100% foreign ownership makes it a no-brainer for proactive investors to launch their companies here. The process to register a company in the UAE becomes easier than ever when you collaborate with the legal advisors at Shuraa India Branch that provide their expert guidance to ensure you abide by all the guidelines and don’t pay even a single penny extra for business incorporation in the Emirates.
What are the Steps for Business Incorporation in Dubai?
Your decision to incorporate your business in Dubai is the right one because you get support from the government, and establishment costs are also affordable. Here are the steps you need to follow to register a company in the UAE:
1. Decide your Business Activities and Legal Structure
The first step for business incorporation in Dubai is to decide your business activities. You can choose your desired activities from the list maintained by the DED or other economic jurisdiction, depending upon your company’s location and legal structure.
You should also decide the legal structure you want for your venture in the UAE. It can be an LLC (limited liability company), branch office, online establishment, etc., based on your business requirements. It’s a critical decision and should never be made in haste. Therefore, you should get guidance from the business experts at Shuraa India Branch to make an educated decision.
2. Choose a Company Name
What should be the name of your dream venture? Do you have a few names in mind? Write them down and send the list over to the concerned authority for approval. Ensure that the names you finalize (not more than 4) should be free of any derogatory terms or words that are insulting in any sense.
Moreover, remember that you need to pay an additional fee for choosing a foreign name. If you wish to keep a person’s name as the official name of your enterprise in the UAE, always use the full name and not any nicknames.
3. Finalize the Business Location
The UAE is the land of opportunities. However, a lot also depends on the business location you choose for your company. For example, a media house should prefer to launch their venture in the DMC (Dubai Media City) free zone and reap the benefits of the favorable working environment.
Companies looking to trade freely within Dubai and all across the UAE should set up their company in the mainland region. It gives you access to the lucrative local marketplace of Dubai alongside several other business benefits. A wrong decision here can cost a lot because of relocation and reincorporation expenses.
4. Rent an Office Space
Renting an office space in Dubai is beneficial in many ways. You don’t need to pay hefty sums of money for purchasing a real estate property and the same amount can be invested for other growth-related activities. Furthermore, you’re freed from the worries of selling the office property when you decide to relocate in the future.
This also helps you explore different business sectors as you can seamlessly switch from one business zone to another. Companies can also go for virtual office space to launch their company remotely in the UAE. It’s an affordable option for small businesses, and all you need to do is sign a sustainability contract with Shuraa India, and you’re done.
5. Complete all the Incorporation Paperwork
Paperwork is another critical aspect to register a company in Dubai. It ensures a safe working environment for local investors as well as expat business aspirants in the UAE. Therefore, pay due diligence to all the documentation procedures and save all the payment receipts and approvals for future reference.
Company registration in Dubai involves several documents and approvals which include payment receipt of trade name reservation, initial approval certificate, and many more. You might also need to apply for external approvals in case you need exclusive privileges or business activities that aren’t mentioned in your business license.
6. Apply for a Business License
You can apply for the required business license by getting in touch with the DED or the concerned governing body. A business license provides the legal confirmation to carry out the business activities in the UAE mentioned in the license. A local service agent (LSA) will help you obtain the license without having any legal participation in your day-to-day activities.
It’s imperative for business owners to renew their trade licenses from time to time. As a best practice, always renew your business license at least one month before expiry to enjoy risk-free business functioning in the UAE.
7. Open a Bank Account and Manage Visas
The last step for business incorporation in Dubai is to open a corporate bank account for your venture. Choose a reliable bank, be it a local one or an international bank based on your requirements. Ensure that the bank you finalize for your business offers top-notch banking facilities and robust services.
Visa procurement in the UAE is a structured four-stage process that begins with the submission of a visa application and ends with the issuance of your visa permit. You can apply for multiple visas in Dubai to secure your stay alongside your family members, domestic staff, and other dependents.
What Paperwork is Required for Incorporating a Business in the UAE?
You must have all the required documents and approvals to obtain the desired license and set up your dream venture in the Emirates. Here’s a curated list of documents you must have to register a company in Dubai:
- A descriptive business plan document
- Duly filled application form
- MoA and LSA agreements
- Payment receipt of trade name reservation
- Passport copies of all the shareholders in your company (if any)
- NOC from your current sponsor ( If applicable )
- A valid tenancy contract ( Sustainability Contract )
Let’s Incorporate your Company in the UAE
Company registration in Dubai isn’t an uphill task when you have the right understanding of all the procedures involved in business incorporation. Be it related to documentation, licensing, payment, or anything else – you must put the right foot forward to ensure the legitimacy of your application and avoid unwanted delays. For all of that and more, you can partner with Shuraa India, and we’ll handle all your requirements at nominal costs. Get started with your business in the UAE today.
Click here to book a free consultation with our experts and know more about business incorporation in Dubai or call +91 80109 90022. For email assistance, mail your query at firstname.lastname@example.org.