Dubai is the most famous of the 7 Emirates of the United Arab Emirates. It is also the most populated and on the path to becoming a smart city. It is now the most technologically advanced, popular business hub and well-constructed city globally. Dubai has also become a hub for global business and events such as the Dubai Expo, where hundreds of entrepreneurs from across the world meet to exchange business ideas and do business.
Starting a business in Dubai is very straightforward, but the paperwork can be tedious. We recommend getting the help of business setup services or consultants in Dubai to help you have a seamless starting-up process. Here are the steps you must follow to complete the business registration process and get your business license.
Prepare A Business Plan
When creating your business plan, you will have to do extensive research to establish who your competitors are, the best location for your business, and how you will execute your business processes. You will also need to decide the nature of your business and choose your business activities. Dubai has the Department of Economic Development, with provides over 2000 business activities that you can choose from. Once you select the activities, you can submit them with your business registration application form.
Free Zone or Mainland
Now that you know your business activities, you must choose when to set up your business in Dubai. You get to choose between the Mainland or the free zone region. The free zone is an independent region featuring specific rules and regulations. The Mainland, on the other hand, is a region outside the free zones. It is important to note that you can only do business within the specific free zone.
If you choose to do business in the Mainland, you can do business anywhere in the UAE and Internationally. The location of your business also depends on the type of business activities you plan to execute.
The Legal Structure
After that, you must decide whether your business is a public or private partnership, sole proprietorship, GCC, A local or International Branch, or an LLC (Limited Liability Company). Your company’s legal structure is essential in completing your company’s registration and planning the next steps.
The Trade Name
Come up with a suitable name for your new company in Dubai. Ensure that the name abides by the rules and regulations of the city. Avoid using foul words, abbreviations, the full name of the company you plan to name your company after, or any religious references.
Additionally, make sure the name ends with the abbreviations of the legal structure, for example, FZE, FZCo, Est. or LLC. Once you settle for the name, you must register it with DED to get your trade name registration certificate.
Initial Approval and Memorandum of Association
After the Trade name, you must submit them along with the application form, trade name reservation slip, and business activities. Once the government official inspects everything and it seems to be in place, they will grant you the initial approval to set up a business in Dubai. After which, come up with a Memorandum of Association and get it signed by all the business partners before a public notary
Depending on the nature of your business, you will need to rent office space in Dubai to carry out your business activities. Ensure that your chosen space checks for all the hygiene and dimension conditions once you secure a space get in touch with the land department to get an Ejari.
Get Your Business License
The government of Dubai offers four types of business licenses. A commercial license, professional license, tourism license, or industrial license. You can decide to apply any of the four depending on the type of your business activities. You will need to submit all the required documents to the department of Economic Development, where your papers will be inspected. Once approved, your business license will be issued
Once your papers are approved, you must pay a one-time registration fee to the government. It is advisable to complete the payment within 24 hours of receiving the voucher.
Setting up a business in Dubai is a relatively straightforward process. There are many opportunities to make money in the city, but you may need guidance. Our experienced business consultants will guide you through all the sends and get you started fast and at a low cost.
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