Business Setup Guide
Beginners’ Guide to Company Formation in the UAE
To start a business in the UAE, an investor has to follow the company formation rules and regulations set by the UAE government. Therefore, it is essential to understand the process before making your plans. We have tried to make it simple for every investor and entrepreneur to make the process easy and hassle-free.
What are the Key Steps You Need to Follow for Company Formation in the UAE?
1. Fix Your Business Activity
Determine your business activities and the nature of your business as the first step towards business setup in the UAE. In Dubai and other emirates in UAE, specific business activities will require special approvals, as many locations do not permit all business activities. So, be cautious of not starting a business that you will not be able to operate in the place you choose in a hurry or due to its appeal.
However, several business-specific zones have started opening their doors to general business activities, not what they are intended for.
2. Choose an Office Space
Finding ideal office space can be challenging for any investor. OBK Business Centre can help you find an appropriate office space. First, however, you will have to decide where to establish your business: the mainland or in a free zone. Before finalising an office space, you will need to consider several factors, like cost, size, location, connectivity, atmosphere, distance from airport and seaport, etc.
Whether it is the mainland or the free zone, OBK Business Centre can help you choose the right location as per your business needs and make the process hassle-free.
3. Decide a Company Name
You will need to follow the naming conventions set by the UAE government for companies, which are strict in the UAE. So, before you finalise a trade name, follow the naming conventions and make sure it is legally satisfactory.
If you are still confused about how to choose a company name, you can consult with us at OBK Business Centre for complete guidance. We have a list of right and unique name options that you can choose for your company if it suits your interests.
4. Complete and Submit the Documents
You will need to work on completing, checking, and submitting your essential documents at this level.
When you decide to register your company in the UAE, you must write and fill out an application to register your selected company name, business activities and copies of shareholders’ passports. In addition, some free zones ask for additional documentation, like your business plan or No-Objection Certificate (NOC) – a letter from a current sponsor affirming that you are permitted to incorporate another business set up in the UAE. Mainland companies also have specific requirements that they will have to meet and mention in their MOA (Memorandum of Association). Next, contact the Department of Economic Development to submit the required documentation.
5. Obtain Your Licence
You will be issued a trade licence after your application has been processed. Some free zones ask to provide a business plan along with the documents.
6. Open a Bank Account
A bank account is necessary for smooth business transactions in UAE. After your licence is issued and you have all essential documents, you can now open your corporate bank account. The UAE has many banks, both local and international. You can open your account in the bank that best meets your specific requirements.
7. Visa Formalities
Applying for a visa is another essential factor in starting a business in Dubai. You can apply for your visa and also for staff and dependants. Your visas will be issued depending on your jurisdiction and business setup.
You can also contact visa professionals for easy processing of your visas. You can tell them your criteria, and they will make the process easier and faster for you.
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.
Steps to Start a Business
- Fix Your Business Activity
- Choose an Office Space
- Decide a Company Name
- Complete and Submit the Documents
- Obtain Your Licence
- Open a Bank Account
- Visa Formalities