Business Setup in Dubai
When We Think Of Setting Up A Business, We Believe In Speedy ‘Inception To Market’ Procedure
Every country has certain rules for company registration for both national and foreign investors, and you cannot do business there unless you follow those rules. Similarly, while setting up a business in Dubai or any other emirate in the UAE, you must follow the mandatory rules and regulations for business setup.
Starting from trade licensing, company registration, and company formation to locating an office for rent requires a lot of paperwork and approvals from various authorized departments. The entire procedure is simple and just takes a few days, but you must assure that nothing is missed. As a result, it is critical to understand the rules and regulations governing business setup in Dubai or any other emirate in the UAE.
Why Do You Want to Setup Your Business in Dubai, UAE?
The UAE is one of the most favorable business hubs for the business community worldwide. The country has introduced numerous investor-friendly schemes and policies to attract new entrepreneurs, start-ups, and established investors in the last two decades. The idea was to encourage them to start their businesses in the UAE. The results are prevalent across the UAE, and Dubai is the most prominent emirate among all. Today, UAE is home to millions of small and medium-sized enterprises and a decent number of big corporate houses and multinational companies. Interestingly, most of the investors have found Dubai more conducive for their business.
How to Setup a Business in Dubai, UAE?
Setting up a business in any part of the UAE is very straightforward, though most investors prefer Dubai due to its compelling character. However, the core rules and regulations of business setup anywhere in the UAE are the same. As a result, you may find a minimal difference, and that is due to their and investors’ convenience.
Here are vital steps to a business setup in Dubai and other emirates of the UAE:-
- Based on your business requirements, determine the type of legal entity required
- Find Your Local Sponsor
- Trade Name Registration
- Prepare the documentation of a Notarised Memorandum of Association (MOA), a report on the purpose of starting a company, and a report on Capital required for investment, and submit it to the government authorities for approval.
- Rent an Office Space
- Apply for a business license as per the nature of your business and its activities.
- Remit the License Fee
- Open a corporate bank account in Dubai, UAE for your business activities
Where to Set up a Business in Dubai?
Mainland company formation in Dubai can be a profitable investment option for investors and business owners. Mainland companies can operate within Emirati jurisdiction and in commercialized geographical regions. All commercial, professional, and sole establishment registered license holders in Dubai are granted a Dubai Mainland License by the Dubai Economic Department (DED). Setting up a mainland business in Dubai allows you to expand your company's offices and branches throughout Dubai and the UAE.
A Free zone is a jurisdiction that can conduct a predefined set of business activities in the UAE. The benefits of business set up in Dubai Freezone are - 100% ownership for foreign investors, tax exemptions, 100% repatriation benefits, no foreign exchange restrictions and more. Free zone business licenses include - Trade licenses, Industrial licenses, Service licenses, or National Industrial licenses by the Free Zone Authority.
Types of Companies in Dubai
- Sole Proprietorship
- Partnership Company
- Limited Liability Company (LLC)
- Private Shareholding Company
- Civil Company
- Branch of a Foreign Company
Benefits of Setting up a Business in Dubai
- No currency restrictions
- The ability to run the business from anywhere in the UAE
- A wide range of license types and business activities permitted
- Lucrative Mainland Dubai market open to doing business within Dubai and globally
- No corporate tax
- No personal income tax
- Ability to repatriate 100% of Capital and profits
- Easy availability of work visas
- A stable local authority, simple processes, easy hassle-free legal procedures for licensing and registration
To start a business in Dubai, you will first require a trade/business license. Be it a commercial license, professional license, industrial license or mainland license, the Department of Economic Development in Dubai (DED) is the authority that provides licenses to businesses in Dubai. At OBK Business Centre, we make sure the process of obtaining the business license is very smooth for you to avail the benefits of your business regulations.
Types of Business/trade License in Dubai
- Commercial License
- Professional License
- Industrial License
- Craftsmanship License
- Freelancer Permit
- Agriculture License
- Tourism License
PRO Services in Dubai, UAE
PRO services in UAE refer to services mainly taken care of by public relations officers. The task is to liaison between the government and the investors looking for PRO services while establishing their business in the UAE. The services include various paperwork for the business setup process, submissions, approvals, clearances and keeping investors aware of regular updates in the rules and regulations.
Cost of Setting up a Business in Dubai
The cost of a company formation in Dubai is variable, depending on various factors. The factors can be business activities, business type, business location, office space, legal structure, jurisdiction and many more.
If you plan to start a business in Dubai or any other emirates in UAE, you can contact us or Call @+971 (0) 52 640 2550 and consult with our representatives to understand the process and the cost. They are well-informed about all the requirements and will guide you in the right direction.
About OBK Business Consultant
What Makes OBKBC Different?
- 100% Privacy
- No hidden costs
- 100% ownership
- Free consultation
- Plug and play
- Easy documentation
- Set up your business in the GCC region
FAQs for Business Setup
● Keep your essential documents handy
● Determine the trade name
● Find a local partner
● Get approval for the business process
● Receive preliminary approval
● Acquire business license
● Immigration and visa process
Get in touch with our team of expert business setup consultants for assistance and hassle-free service.
You must choose your office space as per your business needs - official or commercial, whatever suits your type of business activity and your type of business setup in the Dubai free zone. Also, consider the size of the business entity, period of business and other essential factors. A free zone office space may cost you approx. AED 20K.
Contact our representatives at firstname.lastname@example.org, to discuss renting cost-effective and budget-friendly office spaces.
● Commercial license to engage in the trading business
● Professional license for professional services
● Industrial license if you have a manufacturing or industrial business.