Unarguably the economic hub of the Middle East, Dubai welcomes tens of thousands of entrepreneurs every year.
So the question is not whether Dubai is a great place to set up a new business. The right question is how do you go about making your dream a reality.
Today, Sami Raja, the CEO of Sami Raja Consultancy will be highlighting the most important steps you should take to start your business in Dubai.
Step #1: Decide The Type Of Business And The Applicable Trade License
Company formation laws in Dubai makes it possible for prospective entrepreneurs to choose from a range of legal structures. This will also determine the applicable trade license category that you require to get started.
To establish your business presence in the free zone, you can either go for the limited liability (FZ LLC or FZ Co.) or the establishment (FZE) category. If you already have an existing company outside the United Arab Emirates, you can register your new company as an extension of the parent company.
In addition, you can choose from either of the three trade license categories available to investors establishing their presence in the free zone. These categories are, commercial trade license issued to investors interested in trading, industrial trade license issued to investors engaging in manufacturing and other industrial activities, and professional trade license issued to those offering specialized services.
Step #2: Secure An Office Or Business Premise
Generally, the location, size, and type of office space you decide to use will be dependent on a number of factors. First of all, you should consider the number of employees that you are looking to hire after the business has been registered. Another important factor to consider is the type of activity that you will be engaging in, and of course, your budget.
Step #3: Prepare All The Required Documents
When starting a business in Dubai, documentary requirement differs depending on the nature of the business and the category of license.
However, there are a few fundamental documents that are mandatory irrespective of the type of business of license category. These documents include a copy of the Articles and Memorandum of Association, a colored copy of the data page of the investor or business partners, a No Objection Certificate (NOC) from the business sponsor or concerned authority governing the business (applicable for international investors only), a copy of the investor’s residency visa (if applicable), and a copy of the Tenancy Contract (if applicable).
To make sure you have the complete set of clients before proceeding with the license application process, it is very important that you work with a reliable business setup agency in Dubai.
At Sami Raja Consultancy, we have great business consultants experienced in helping foreign investors to establish businesses in the various offshore and onshore areas in Dubai.
Step #4: Proceed With The Trade License Application
Once you have gathered all the necessary documents, you can proceed with the business registration process. The process differs from license type to license type but the first step will involve obtaining the necessary legal forms through a typing center.
This post can’t cover the entire process of registering a business and obtaining a trade license in Dubai.
However, you can reach out to us at samiraja.ae if you have any question regarding business setup in the UAE.