Dubai is the perfect location for investors seeking to establish and expand their businesses. Setting up a company in Dubai can be tedious and time-consuming, the benefits of setting up a business in Dubai, such as favorable tax policies, secure investment options, growth prospects, and streamlined visa management.
Additionally, the business-friendly environment offers several investment prospects and promotes peaceful working conditions. Recent modifications to business laws have also addressed concerns faced by expats. However, with all the necessary documents and a trustworthy advisory, registering a business in Dubai can be completed in seven working days depending upon the circumstances.
Steps for setting up a business in Dubai
1. Select a business activity
2. Choose a trading name and register with the relevant authority
It is essential to choose a name that doesn’t hurt the morality of the country
3. Select a location if you're opting for a physical office
Physical office is not a criterion for business setups in the Dubai Freezone area. If you’re looking for one, decide on a location with the best facilities.
4. Drafting MoA
If you decide to set up your business in Dubai mainland, you need to engage with a Local Service Agent (LSA). The LSA won't meddle in your business operations or decisions but will help you acquire all the necessary licenses and approvals LSA doesn’t have any share in the business. Once your company's structure and business model are determined, the LSA will sign and create a Memorandum of Association (MoA).
5. Applying for a Company License
It’s a legal document that allows you to carry out permissible activities in the UAE. The business licenses in Dubai include;
- Commercial License: enterprises engaged in trading businesses.
- Industrial License: companies engaged in the production or other industrial operations.
- Professional License: professionals who offer service, artisans, and technicians.
6. Apply for Visa
7. Open a bank account
Documents required for registering a new business in Dubai
These are the documents required for registering a new business in Dubai:
● Passport-size photograph
● Form of the application
● All the legal participant’s passport copies
● LSA Emirates ID copy.
● Notarized and attested documents of LSA and MoA of the applicant’s tourist visa
● Ejari Number
● External documents of approvals, if any
● Cost Incurred for the Registration of the Company in Dubai.
The UAE government has implemented new measures to update the existing laws related to company formation. These modifications are necessary to provide significant advantages to international entrepreneurs planning to establish their businesses in the UAE. The cost of setting up a business will also depend upon the type of business activity and location.
It is preferable to connect with top law firms in Dubai with experienced lawyers and legal consultants who can guide you in establishing your business. With the guidance of legal consultants, the whole process becomes easy and stress-free.
For any enquiries or information, contact ask@tlr.ae or call us on +971526443004
