A Step-By-Step Guide To Start Business in Dubai

A Step-By-Step Guide To Start Business in Dubai

Written By Antima – 26th June’22

start business in dubai

One of the most well-known cities in the world and a significant business hub is Dubai. Dubai has drawn in global trade and investment due to the many benefits of starting a business there. The Dubai administration has welcomed a wide variety of international corporate operations. Additionally, employing a business setup consultant can help your new company formation in Dubai.

If you are looking forward to a successful business setup in Dubai, then this is the best time to invest in the Emirates as an expat. Setting up a business in the UAE is relatively simple, especially if you are looking to start your business in Dubai. This is due to the government’s many flexible laws for establishing a business.

As the local government is encouraging investments and startups in a variety of ways, this seems as an excellent time to jump on board. Because of the UAE government policy, Foreigners will find doing business in Dubai to be relatively simple. It is quick and easy to establish a business in Dubai, and the businesses are booming thanks to the government’s recent announcements for long-term visas, 100% ownership for foreigners, easy business laws, quick approvals and many more.

Here are over 2100 business activities supported by UAE corporate law. Investors are taking advantage of the emerging market’s growth potential by establishing businesses in the desired location. However, many aspects must be considered before business setup in Dubai.

Why starting business in Dubai is beneficial?

Following are the top 3 advantages of starting business in Dubai:

1. Ease of doing business

Thanks to quickly advancing technology and a helpful government, starting a business in Dubai is simpler than ever. You can register your business in Dubai in a matter of taps and days. When you have a reputable business setup adviser at your side, the procedure of forming a company in Dubai is simple and involves little paperwork.

2. Low tax policies

One of the most appealing aspects of establishing a business in Dubai is the lack of taxation. Dubai provides complete tax exemption, including income, corporate, and personal taxes. However, some businesses maybe required to pay a 5% VAT on certain business activities.

3. Vibrant economy

The Dubai government never fails to provide foreign investors with first-rate facilities, incentives, and security. It continues to amend the rules and regulations that govern how businesses are conducted in the city in order to ensure quality, advancements, and expanded business opportunities. And an expert business setup consultant can help you keep up with all the latest regulations.

start business in Dubai

What are the steps to start business in Dubai?

1. Prepare the documentation

Documents required for mainland company setup

Documents required for a free zone company setup

  • Attested LLC agreement and governmental forms
  • Passport copies of all the shareholders.
  • Concerned department approvals along with name reservations.
  •  Permanent Address of your home country.

 

  • Tenancy contract and EJARI registration certificate
  •  Contact details (email, phone number, mother’s name, and father’s name) of the shareholders.
  • Passport copies, contact details, copy of NOC for shareholders
  • Three options for company name.
2. Get a business license

A business license is a document that specifies what activities a company can engage in the United Arab Emirates. The Department of Economic Development (DED), Dubai issues each trade license.

Below are the types of licenses that are available to start in Dubai.

  • Professional License: This type of license is issued to individuals who provide specific services.
  • Commercial or trade license: These licenses are issued to anyone who engages in commerce activities.
  • Industrial license: Industrial Licenses are licenses for businesses that operate in the industrial and manufacturing sectors.

Before applying for any of these trade licenses, make sure you have all of the necessary paperwork in order. Moreover, you get all the license approvals in 24 hours. Failure to do so may result in a delay in the issuance of your license.

3. Start the Visa Process

An important step to start company in Dubai is to apply for a visa. For Dubai free zones, you are allowed a visa permit for three years (both for the employee and employer).

The steps are as follows:

  • Entry Permit
  • Status Adjustment
  • Medical Fitness Assessment
  • Registration of Emirates IDs and Visa Stamping
4. Open a corporate bank account in UAE

Having a corporate bank account in any top-tier international banks in Dubai is a must to start business in Dubai. You should have all of the documentation you need to open your corporate bank account once your paperwork is returned. Before you can start trading in the UAE, you’ll need a bank account.

The documents required to open a bank account are as follows:

  • Copies of all shareholders’ passports.
  • Comprehensive CVs.
  • Address proof for all shareholders.
  • Your business plan.
  • Personal and corporate bank account statements from the previous six months.
  • A list of at least five suppliers and five customers.
  • A complete set of certified documents for forming a business.
  • Incorporation certificate.

How to start business in Dubai with RadiantBiz?

Radiantbiz aims to keep your initial tasks to a minimum in order to create a stress-free business environment. Our business setup services in Dubai are well-executed under the supervision of our experts for mainland, offshore, and free zones.

Radiantbiz – The best business setup consultant in Dubai assists you with the following:

  • Our PRO team will assist you with banking services, and get an account opened for you in no time. We know how valuable and time-consuming opening a corporate bank account in Dubai can be, as well as the risk of the bank refusing to open an account for you.
  • We also guide you throughout the process of company formation in Dubai, from visa, license approval, to all the paperwork. We make it easy for you and get you streamline the whole process in just 24 hours.

The team will guide you right from deciding on a trading name to legally registering it, we can help you with all aspects of company formation, licensing, visa services, banking services, and location selection.Our team will take care of all of your permissions, paperwork, documents, licenses, and other procedures. Additionally, we offer all the resources you’ll require to receive your license approvals on schedule. While we help you set up your business in Dubai, you may sit back and relax.

Conclusion:

Dubai is widely recognized as one of the most financially appealing locations in the world, with a well-developed and diverse economy, excellent infrastructure and transportation links, and a one-of-a-kind low tax regime. Businesses will have access to the same professional services, a strong banking system, transportation, and cutting-edge technology as any other international business hub.

When forming a company, however, it is easy to make a mistake, so it is advised to seek expert advice and guidance from a professional consultancy. Radiantbiz keeps your preliminary tasks to a bare minimum in order to help you experience a hassle-free business setup in Dubai.

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