A Step-By-Step Guide To Business Setup In Dubai
The UAE corporate law supports over 2100 business activities to choose from. Investors are tapping this growth opportunity in emerging markets by setting up businesses in their desired location. But for one to start a Dubai offshore company setup, a lot of business elements need consideration. We provide you with steps and procedures that one needs to undergo for setting up a business effectively and efficiently.
Nature of your Business: First and foremost, you need to decide on the type of business to attain the required trade license in Dubai. This is done initially to avoid any discrepancy in the future. There are mainly three kinds of licensing; commercial, professional, and industrial and your business activity and type become a deciding factor to avail you of these licenses.
Ownership: The second step prompts you to understand the ownership pattern for your business. Whether you want 100% ownership or a local agent to run your business, is totally up to you. However, there are different rules regarding ownership for the different registered companies in the mainland, free zone, and offshore. For a foreign investor, the Department of Economic Development (DED) issues licenses to operate in the 45 over UAE Free Zone.
Legal Formalities: Once you decide the basic factors to start your business, you need to look into the rules and regulations laid out by the UAE government for your type of business. In the UAE, each free zone has its own laws for the kind of business you want to set-up. For example, a trading company in Abu Dhabi free zone will have different tax policies than Dubai free zone.
Trade Name: The next step is for you to decide on the trade name for your business. This fulfills any legal obligation to Dubai mainland business setup with DED guidelines. Your trade name should ideally represent the nature of your business.
Share Capital: You need to decide on the share capital for your business. This is clearly stated in the Memorandum of Association so that you know the amount you are likely to invest in your business.
Premises: Further, it would be best to shortlist your office space with costs and other details. This would mean a clear path forward once you get your legal formalities out of the way. In Dubai free zone, you will get assistance to find premises suitable to your requirement along with help to set up electricity, internet, water, and other amenities.
At Radiant Management Consultancy, we aim to limit your task at these initial steps to create a hassle-free business environment. Our business setup service for mainland, offshore, and free zones are well implemented under the supervision of our experts. From selecting your trading name to legally registering it, we come through for all your company set-up, licensing, and selecting premises hurdles.