Conducting business in Dubai offers several perks, as the economic environment continues to lure heavy foreign investment. The Dubai Government, along with the Department of Economic Development, make company formation in Dubai an easy process, however as a foreign entity, expanding your footprint in the international market might be tricky.
Here are a few aspects you need to bear in mind while planning to set up a business in Dubai:
Before you go about your company formation, you need to have a clear vision of what you want. Finalise your business plan, shortlist what sort of activities you will be conducting via your company, sort out the funding and partnerships, choose the best suited jurisdiction for your type of business, understand the legal framework and financial policies, gather information on what kind of approvals and licenses you will be requiring, and the list goes on. However, you do not have to make all these decisions on your own. Expert help is just a call or a click away. To book your free consultation with a business advisor, visit https://www.shuraa.com/book-free-appointment/
Trade License and Registration
Obtaining a trade license and getting your company registered is one of the first and most crucial steps towards setting up your business in the UAE. In general, there are three categories of licenses in Dubai, including, commercial, professional and industrial. A commercial license is required for trade related activities; professional license for service-providing companies; and, industrial license for manufacturing and production units. Thus, you need to be sure whether a certain license covers all your business activities, including those you would like to do in future, or not before applying for one.
For conducting business in Dubai, there are seven broad company types to choose from: general partnership, share partnership, joint venture, public shareholding and limited liability. The most preferred set up is that of a limited liability company (LLC). The type of business that can be conducted mainly depends on the corporate structure.
Types of Visas
Businessowners are generally provided investor visas. However, other factors such as the business activity, corporate structure and the chosen jurisdiction for your company also determine which type of visa suit you the best. Each company is allotted a specific number of visas which are eligible for resident permit, formalities related to Emirates ID and medical benefits, as well as various approvals and documentations offered by the authorities.
Entrepreneurs often have great business ideas but get overwhelmed by the execution part of it. However, business consultancies in Dubai offer A-Z solutions with regards to setting up as well as conducting a thriving business. Seek professionals who can guide you with all aspects of your business, including, legal and governmental formalities and decision making.
Shuraa Business Setup is a pioneer in providing business set up solutions in Dubai as well as anywhere else across the UAE.
Do not hesitate to book a free consultation with our business consultants. For more details, call us on +971 44081900 or request a call back by WhatsApping on +971 507775554. You can also drop an email to [email protected]