Key Steps for Setting up a Business in Dubai
On the surface, establishing a business in Dubai is a relatively simple process. However, there are some important steps to undertake which can make the process tricky and time-consuming.
Make sure you acquire sound counsel regarding determining what kind of business license you need, your location, and the requirements you need to start your business in an efficient way.
Select a Business Activity and Jurisdiction
In Dubai – UAE, there are thousands of business activities. The nature of your business determines the jurisdiction you can operate from.
Dubai has 3 main business jurisdictions;
- Dubai Mainland
It is crucial that you thoroughly investigate the requirements, terms, clauses, and costs of setting up and operating a business in any of these jurisdictions as you do not want a situation where you set up your business in Dubai only to discover that you can’t operate there!
Determine the company’s legal/corporate form
The next step is selecting the legal structure for your organization. It determines the framework and tone for handling profits and losses as well as how you should allocate your assets and resources.
In Dubai, you can set up your company using the following structures;
- Limited Liability Company (LLC)
- Sole Establishment
- Civil Company
- Local Company Branch
- GCC Company Branch
- Foreign Company Branch
- Free Zone Company (FZCO)
- Holding Company
Choose a business name
You should keep in mind that the UAE has very strict naming rules. Make sure your company name is suitable legally before committing to it because it will be rejected. These three tips may seem obvious, but many skip one of the three which often results in delay. Make sure you have expert help and advice in starting anything new in UAE. Good luck!
From creating documents, requesting approval, handling submissions, assisting with translations, setting up bank accounts, and offering general advice & consultancy, we’ll be there for you every step of the way. Contact us right away to find out how we can assist you to set up your business without hassle!