Business set up
Setting up a business in Dubai offers numerous opportunities due to its strategic location, robust infrastructure, favorable business environment, and tax benefits. Dubai provides various options for business setup, and the process involves specific steps and legal requirements. Here’s an overview of the business setup process in Dubai.
Determine Business Activity and Legal Structure
The first step is to decide on the type of business activity you want to conduct and choose the appropriate legal structure. The common legal structures include:
Owned and operated by one individual. b. Limited Liability Company (LLC): A company with a minimum of two and a maximum of fifty shareholders. c. Free Zone Company: Operating within designated free zones, offering 100% foreign ownership and other incentives. d. Branch Office: A branch of a foreign company registered in Dubai. e. Representative Office: Limited to promoting and marketing activities for the parent company.
Choose a Business Name
Select a unique and appropriate name for your business, ensuring it complies with the naming regulations set by the Department of Economic Development (DED) or the respective free zone authority.
Obtain Initial Approvals
Depending on your business activity and location, you may need to obtain initial approvals from relevant authorities, such as the DED or the specific free zone authority.
Reserve Trade Name and Get Initial Approval
Apply for the trade name reservation and obtain initial approval for your business setup.
Prepare Legal Documents
Prepare the necessary legal documents, including the Memorandum of Association (MOA) for an LLC, Articles of Association (AOA), and other required agreements.
Obtain Business License
Apply for the appropriate business license from the DED or the relevant free zone authority. The type of license will depend on the nature of your business activity.
Register with Relevant Authorities
Register your business with various authorities, including the DED, the Dubai Chamber of Commerce and Industry (DCCI), and any other relevant regulatory bodies.
Open a Corporate Bank Account
Once your business is registered, open a corporate bank account in Dubai to conduct financial transactions.
Arrange Office Space
Depending on your business setup, secure office space within Dubai or the designated free zone, as required by the authorities.
Visa and Residency
If you plan to work or hire employees in Dubai, you will need to apply for the appropriate visas and residency permits for yourself and your employees