How To Set Up A Business In Dubai.

Starting to operate a Business in Dubai can prove to be a boon and expand your career prospects. Making the right choices at the right place is all that is required. There are a specific number of things that you need to decide before the business setup in Dubai

Most importance is given to the zones you choose to operate your business in. Economic zones are categorized under two heads: Free Zones and Offshore.

Both of them hold their own benefits and specifications.

REASONS TO SET UP BUSINESS IN DUBAI

There are several reasons why one should invest in Dubai, including the following:

• Dubai has a very strategic location on the map. It creates alliances between the borders of other countries. Moreover, its location is also easy to commute to from other Emirates or states.

• Dubai’s economy has a gross domestic output of US$102.67 billion as of 2018. This humongous number can show how much of a growing economy Dubai is.

• Dubai is one of the most popular travels and tourism attractions in the world. It’s easy to manage travel guidelines and a luxurious lifestyle catches the eyes of the travelers.

• No visa restrictions.

• Allowed to rent an office space wherever you like in an affordable range.

• There are no limitations on the amount of office space required.

• Excellent opportunity to grow by establishing branches.

• New permit to expand business on the mainland without opening a branch office

• Zero minimum capital investment is required.

• Permission to carry out government initiatives.

Office space is easily accessible.

Get the Best Affordable Service of Company formation in Dubai.

Steps to set up a business in Dubai:

1. Choose your business activity

The nature of the business can have a bearing on which business jurisdictions one chooses. For example, if an investor wants to start a company in any of the Dubai free zones, the different free zones are dedicated to different business activities. And an investor can choose depending on what they want their business to be.

2. Choose your company name

The first step is to secure a trading name and do the necessary research to make sure that the name isn't already in use. Submit the proposed company name and registration application to the Department of Economic Development (DED)

3. Finalize all incorporation paperwork

You will be required to complete an application for your chosen company name and activity, to be provided along with copies of shareholders’ passports to the relevant government authorities. Some free zones will require additional documentation, such as a business plan or Non-Objection Certificate (NOC) – a letter from a current sponsor confirming that you are allowed to set up another business in the UAE. While perhaps the most arduous of all these steps, the paperwork does not have to be too taxing providing it is undertaken with expert help. Your business set-up partner can advise you on the paperwork required and help you complete it.

4. Receive your license notification

Once your application has been processed, the government will issue you with your company license. We notify our clients when their documents are ready to be collected.

5. Open a bank account

The UAE is home to many banks, both local and international, including Emirates NBD, Abu Dhabi Commercial Bank and the Commercial Bank of Dubai, along with global names, such as HSBC, Citibank and Barclays. You can either approach the bank of your choice or ask your business set-up partner to arrange meetings with a number of institutions to help you choose the most suitable option. Once your paperwork has been returned, you will have all the documentation you need to open your corporate bank account.

6. Process your visa

The final step of company formation in Dubai. As well as applying for your own visa, many free zones allow you to put in applications for staff and dependents – the exact number you can submit will depend on which free zone you choose to set up in. So, if you are looking to obtain visas for a spouse, child, maid or driver, it is best to seek expert advice to ensure that firstly, it is possible to do so in your chosen free zone, and secondly, that both you and anyone you are hoping to sponsor for a visa meet all of the entry criteria. Assuming this all checks out, the process is made up of four simple stages: entry permit, status adjustment, medical fitness test, then Emirates ID registration and visa stamping.

Documents Required

• License Application

• Attested LLC agreement

• Governmental forms

• Name reservation certificate

• Initial approval certificate

• External departments approval

• Tenancy contract

• EJARI registration certificate

• Passport copies partners and NOC for partners (if any)

• Dubai Chamber of Commerce and Industry Registration

Here are a few benefits if you want to open a company in Dubai-

• No limitation on visas

• Flexibility to rent office anywhere

• No restrictions in office space requirement

• Great opportunity to expand by forming branches

• New permit to grow the business in the mainland without establishing a branch office

• No minimum capital investment required

• Permission to undertake government projects

• Easy accessibility of office space

TMS-CSP is leading company formation service provider company in Dubai. We have 20+ years of working experience in business setup or company formation. Our process allow you to start your business activity quickly.