Investing your money in Dubai’s booming economy has the potential to return exponential profits. Moreover, company incorporation in Dubai has become cost-effective, thanks to the UAE’s supportive government that continues to introduce business-friendly reforms.
You need to follow the right steps to set up your company in the Emirates with the business consultants help. Your partnership with a business setup company in Dubai is beneficial because you don’t need to worry about the legalities.
What are the Steps to Form a Company in Dubai?
1. Finalize the Business Activities
The first step for company incorporation in Dubai is to finalize all the business activities in the UAE. It’s important to cover all the activities because you won’t be allowed to undertake any other operations apart from the ones approved by the government.
Once you have the list ready, you can submit the same to the DED for their scrutiny. Remember that you can apply for external approvals to gain added privileges to carry out other business activities too.
2. Reserve a Trading Name
All companies in the Emirates must register a legal business name for their ventures to enjoy risk-free business functioning in the country. The trade name you choose should be indicative of your day-to-day business operations and shouldn’t be a gimmick of some other company.
Moreover, it’s important to refrain from using insulting terms or words that have any reference to a God. You can compile 3-4 desired trading names and share with the concerned department for their approval.
3. Choose the Preferred Business Location
Business investors should get in touch with a business setup company in Dubai to understand the pros and cons that each business location offers. Furthermore, you also need deep knowledge about the way each jurisdiction in the UAE works to figure out the one that best aligns with your business requirements.
Once you have sufficient information about Dubai’s legal framework, you can establish your company in the business zone of your choice. The legal advisors make easier regarding all the business zones in Dubai.
4. Apply for a Business License
You can apply for a trading license once you’re done with all the above-mentioned steps. It’s critical to submit all the required documents, provide the correct information, and make timely payments to acquire the license in a quick time.
You also need to renew your business license every year to ensure you don’t breach any established business laws. All you need to do is submit the BR/1 form alongside the supporting documentation and make the payment to receive the renewed license.
5. Manage Visas and Open a Bank Account
The best part about company incorporation in Dubai is the hassle-free visa procurement process. It’s a well-defined four-stage procedure that empowers you to secure visas for yourself, your relatives, and the domestic staff workers too.
Investors also need to open a corporate bank account in any local or international bank to take care of all the monetary transactions of your company. The business consultants at Shuraa find the best banks for your business model after understanding your investment plan, offerings, etc.
What Paperwork Goes Into Opening a Company in Dubai?
Listed below are the documents you must submit to the governing authorities to set up your dream venture in Dubai:
- List of trade names (3 to 4)
- List of business activities
- Passport copy of the shareholders
- Entry stamp or visa page
- Passport size photograph as per the protocols (size, background color, etc.)
- Initial approval receipt and documents submitted previously
- Copy of the lease agreement signed by the Real Estate Regulatory Agency (RERA) in Dubai
- Duly attested Memorandum of Association (MoA) for all types of companies
- Approvals from other concerned government authorities
- Formal agreement letter with the local sponsor/local service agent (LSA)
Launch Your Company in Dubai Today!
Setting up a company in the UAE is beneficial for so many reasons. You don’t need to pay any personal or corporate taxes, obtaining visas is straightforward, and you can enjoy complete ownership of your business. All you need to do now is get in touch with the business experts at Shuraa Business Setup and kickstart your professional journey in Dubai.
Connect with us today for a free consultation with our professionals and know more about company incorporation in Dubai by calling +971 44081900. You can also send a WhatsApp message at +971 50 777 5554. For email assistance, mail your query at info@shuraa.com.
