The UAE is not only one of the top-rated destinations on many people’s wish lists, but it also offers tremendous business opportunities. These figures, coupled with impressive growth in previous years, have attracted many people to mainland business setup Dubai. If you are also considering joining them, the good news is that the process of establishing a business is simple and quick.
You can set up a business in Dubai in a matter of 3-4 days if you have all the necessary documentation and approvals from the government.
Steps to establish a company in Dubai, United Arab Emirates, follow the steps below:
Step 1. Define the nature of your business
As in any other country, you must first define the nature of your business. Depending on the nature of your business, you will need to obtain the necessary license, approvals and permits for setting up your business in Dubai. There are different commercial zones in Dubai, namely the mainland, the free zone and abroad. You can choose to establish a business in Dubai in any of the three zones depending on the nature of your business and the one that offers the maximum benefits.
Step 2. Name deciding of your company
The next step is to choose a name for your business that you are going to start. Dubai has certain requirements when deciding on your business name. You are not allowed to use a name that is offensive, refers to Allah or any other religion. Avoid using abbreviations in the company name. Another thing to keep in mind is that if you name the business after a person’s name, that person must be the owner or a partner of the business.
Once you’ve chosen a name for your business, register it with DED (Department of Economic Development). DED reserves the right to reject the name if there are other companies with similar names.
Step 4. Get the MoA
An MoA (Memorandum of Association) is a contract that establishes the set of clauses. You need to write one and get all the shareholders in your business to sign it. An MoA establishes the nature of the business, the capital of the company, the share issues and related business details.
Step 5. Obtain preparatory approvals and permits
Depending on your type of business, there are certain initial approvals and permits that you need to obtain from various legal authorities. It is recommended that you let your attorney or business consultants obtain the necessary approvals as they are familiar with the process for doing a business installation in Dubai.
Step 6. Apply for a business license
To apply for a business license, you must first find out if your business activities are allowed under the licenses provided by the UAE government. The UAE offers 3 types of licenses, namely professional license, business license and industrial license. LLCs are said to be perfect for training and industrial activities. To learn more about licensing in Dubai, read here.
Step 7. Rent an office space
To set up a business in Dubai, you will need to rent an office space suitable for your business needs. Select the location and office space according to the nature and activities of your business. Once you rent the space, sign up with Ejari for a lease and generate your unique Ejari number for future reference. Remember that you cannot obtain a license without a valid office address.
Step 8. Finish and submit the documents
To complete the process of setting up your business in Dubai, you must complete all the documentation work. Submit copies of passports and visas for yourself and your business partners. Also, submit and obtain the final approvals, permits, and necessary certifications from DED (Department of Economic Development). Once your application is processed and approved, the government will notify you where and when to acquire your license. At last, pay the required fee and get your business license!
The process of setting up a business in Dubai is simple and straightforward. We are sure that if you follow the steps mentioned above, you will be able to establish your business in Dubai in just 3-4 days. There are many business consultancies that help you through the entire process of best pro services in Dubai, as well as taking care of all the necessary paperwork, your license and other business activities in the UAE. All you need to do is contact us and we’ll take care of the rest.