A business setup in Dubai- it is the dream of investors and entrepreneurs around the world. And for a fair reason too! Dubai has all the facilities needed for a business setup. The natural advantage of its location and a government encouraging every business setups in Dubai. The government of Dubai has made business setup laws easy compared to many other countries in the world. The city has all the advanced infrastructure and a strong economy that supports a new business setup in Dubai or an expansion alike. Whether you are a startup or you want to expand your company, the process is pretty much the same. This article tells you everything you need to know about business setup in Dubai- the process, and how to choose the right business setup company in Dubai to make the journey smooth. Let's discuss the steps for a business setup in Dubai.
Before starting the process, you need to have a clear idea about the type of business setup in Dubai you want to start. Dubai has several business activities under its economic department, like commercial, industrial, and professional. The type of your Dubai business setup decides the structure, legal requirements, and location where you can operate. For example, some activities are restricted to mainland companies, while others are best suited for free zones or offshore companies. If you are unsure, a business setup company in Dubai can help you identify the best structure for your business setup in Dubai.
When planning your business setup in Dubai, you must decide where to register your company. It can either be registered either as a mainland Dubai business setup or freezone business or offshore company. Each option has its own benefits:
Mainland Company:A mainland business setup in Dubai allows you to operate anywhere within the UAE. You can trade directly with the local market and take government contracts. It is ideal for those who want full access to the UAE economy.
Free Zone Company:If your business setup in Dubai is focused on international markets or online services, a free zone company is perfect. You can enjoy 100% foreign ownership, tax benefits, and simple regulations. However, free zone companies are limited in dealing directly with the UAE market unless they use a local distributor.
Offshore Company:Offshore setups are suitable for Dubai business setups that want low tax and safe property options. They cannot conduct business inside the UAE but no issues regarding owning properties, opening bank accounts, and managing international operations.
3. Choose a Business NameDubai has strict rules for naming companies. So when choosing a name for your business setup in Dubai, see that you decide on a name only after following all the conditions. The name should not include offensive words or religious references, and it must represent the activity of your Dubai business setup. You also cannot use names already registered by another business. A good business setup company in Dubai can help you check the name availability and reserve it with the Department of Economic Development (DED) or the free zone authority.
4. Apply for Initial ApprovalAfter selecting the name and activity for your business setup in Dubai, you must apply for initial approval from the authorities. This is not the permission for the entire procedures. It only means that the government has no objection with the idea of your business setup in Dubai. You will need to submit basic documents such as passport copies, business plan, and name reservation certificate. Initial approval is a must to move on to the next steps of a business setup in Dubai.
5. Prepare Required DocumentsThe next step is to bring the necessary documents for the new business setup in Dubai. These usually include:
If you’re working with a business setup company in Dubai, they’ll prepare and submit all the paperwork on your behalf, saving you time and effort.
6. Choose a Business LocationYour company’s physical address must meet the rules set by the Dubai authorities. If your business setup in Dubai is on the mainland, you should have a physical office. But Free zones have options like virtual offices, shared desks, or private offices. Many business setup companies in Dubai also help entrepreneurs find cost-effective office spaces that match their needs.
7. Get the Business LicenseAfter the approval of documents, you can apply for the license of your business setup in Dubai. There are mainly three types of licenses in Dubai:
This approval process usually takes 1 to 2 weeks. It depends on the type and location of your business setup in Dubai. After you get your license, your company is officially registered.
8. Apply for Visas and Bank AccountAfter getting the license for your Dubai business setup, the next step is to apply for residence visas for you, your employees, and your dependents (if required). Dubai offers investor and employment visas based on your company type. You can also open a corporate bank account in a local or international bank. Many business setup companies in Dubai assist with visa processing and bank introductions to make the setup easier.
Starting a business setup in Dubai, especially if you are new, can be a bit confusing. Partnering with an experienced business setup company in Dubai means an easy journey of business setup in Dubai. They handle all legal approvals for you. They set up documents, and ensure your business setup in Dubai follows UAE laws. With their help you do not have to waste time trying to figure out the process of business setup in Dubai.
ConclusionSetting up a business in Dubai may sound difficult. But if you have the right plan and professional support, it is a straightforward process. If you are unable to manage each step of the process like choosing the right structure, registering the trade name or finding office space, seek the help of an experienced business setup company in Dubai.