Dubai, UAE is one of the most visited destinations to start a new company. Each business organization should keep appropriate documents for processing visas or setting up businesses. You need approvals from many government departments to set up business in Dubai, UAE, depending on your business activity.
Some departments include Department of Economic Development, Dubai Chamber, Ministry of Labour, UAE Embassy, Dubai Courts, Department of Immigration and Naturalization, Roads and Transport, Department of Residency.
Documents that are needed for setting up business in Dubai are usually in Arabic language; hence it is imperative that the person wishing to setup business in Dubai take the help of professionals. Various Pro services in Dubai are operating that can help anyone who wishes to set up business.
They can perform all the necessary tasks re documentation starting collecting documents from one’s place to get all the work done from government agencies. Following are some of the well known Pro services in Dubai:-
- Bank Account Opening in Dubai
- How To Start A Limited Liability Company In Dubai
- How To Start A Foodstuff Trading Business In Dubai
- How To Start A Garments Trading Company In Dubai
- How to set up a business in Dubai mainland.
- How to get Import Export business license in Dubai.
- How to get investor visa in Dubai
- Best Pro Services in Dubai.
- Office Spaces for rent in Dubai.
- How to Choose a Business Consultant in Dubai?
- What's the best way for Dubai Company Incorporation?
- Why start your business in Dubai?
- How to open a travel agency in Dubai
- How to get a Trading License in Dubai
- How to get a Virtual Company License in Dubai
- Sands business setup and PRO services
- BUR Dubai Pro service
- Pro partner group
- Smart plus services DMCC
- Act Pro and business services
- Amazon Pro services
Office for rent in Dubai
Dubai is an imminent Middle East financial and business destination. Several firms and entrepreneurs therefore choose to establish their office here. And since owning a property isn't always feasible, renting an office in Dubai is a fairly common choice. The inherent benefit of this is that one is saved from the plight of owning and managing office space physically. As a matter of fact, leased offices and co-working spaces are popular business centers in Dubai. Renting an office in Dubai is a feasible option than owning a one due to following reasons:-
- Owning an office means purchasing space, furniture, tech equipment, phone lines internet, while as rental office are often plug and play, having amenities inbuilt.
- You need more employees as you continue to grow your company. The rented office in Dubai gives you the flexibility to move into a better and bigger office space as and when needed.
- Office space is the company's important asset which needs capital for maintenance. But if a company invests in renting a office in Dubai, it can maintain more money–because it needs less working capital.
With a number of Freezones operating in Dubai, and each free zone is designed around a special commercial category. The main reasons of setting up a company in Dubai Free zones is that there no restrictions regarding foreign ownership. The freezone companies in Dubai are governor by independent freezone authority (FZA). FZA is solely responsible for issuing operating license and also deals with the regulating the activities of these freezone companies. Benefits of setting up companies in freezone Dubai:-
- 100% foreign ownership
- 100% repatriation of profits
- Absence of currency restrictions
- Inexpensive energy
- Huge variety of licensable activities
- Complete personal and corporate tax exemption.
Company incorporation in Dubai is a simple step-by-step process and at every juncture of company formation does not require endless visits to a lawyer. The procedures for company incorporation into Dubai are recognized as legal and include company name registration and business activity licensing. The fundamental requirement for all business activities in Dubai is one of three licensing categories, Commercial licenses regulating commercial practices of all kinds, Licenses covering professions, services, artisans and craftsmen, Industrial licences for industrial or manufacturing establishment. Regarding ownership the law requires for 51% participation by UAE nationals. However company incorporation in Dubai freezone has no ownership restrictions. Various types of companies can be incorporated in Dubai like, LLC, Joint Venture, Professional company, Sole Proprietorship, Freezone companies.
One way of starting a company in Dubai is through a Limited Liability Company or LLC. An Limited liability company formation is the most prevalent company type in Dubai. It can be created by at least 2 shareholders and a maximum of 50 shareholders, whose liability is limited to their share of business capital. Most businesses opt for an LLC with foreign partners, because this is the only option that allows a local business expatriate maximum legal ownership, i.e. 49 per cent.
Since it is mandatory to have a UAE national as a partner in the LLC (51 per cent shareholding), the prospective investor has the option to choose the one UAE national (sponsor) as a partner in the firm. Limited Liability Company is versatile and provisions for mutual profit sharing are feasible, too. It gives a huge edge to the international investor as a local partner has legal equity of 51 per cent.
Company registration Dubai
Carrying out a business in Dubai requires one to register the company with the government. The process of company registration in Dubai requires following procedure:-
- The first move for company registration in Dubai is that investor must file with the Ministry of Economy & Commerce for business license. The foreign entity has to submit a Service Agent Agreement along with this request. This agreement will make it clear that the agent is either a UAE citizen or a UAE-owned company controlled by 100 per cent.
- The MEC department will forward application for next move to the Economic Department. It starts working when an agent-business license agreement is made. The proposal should ensure the business secures the approval of the local government.
- Once the economic department has completed the job, the application for company registration in Dubai is forwarded to FFC that confirms the nature of company.
- Upon approval by the Committee of Federal Foreign Companies, registration of a company in Dubai now requires a Ministerial license. The license is issued upon verification by the Ministry of Economy and Commerce.
- The last step of registering a company in Dubai is in the Chamber of Commerce and Industry in Dubai. The Government must grant a Certificate of Registration to the company.