How to start a business in Dubai?
Business setup in Dubai witnessed a sharp expansion until the end of the year 2017, as reported by the economic tracker of Emirates NBD in a national daily. The report says, “New business establishment and activities have enhanced the economic conditions and non-oil sectors are mainly expanding.”
This expansion has continued in the year 2018 as well and why wouldn’t it be? Starting a company in Dubai or the UAE offers businesses a crossroad for prominent trade centers. Businesses are also benefited by global opportunities and optimistic potentials created for entrepreneurs starting a company in Dubai. There are also possibilities that provide an affordable cost for business setup in Dubai.
Though excise tax and VAT has come in order, still Dubai continues to offer lowest corporate tax rate globally and is affluent for a low cost of business setup in Dubai.
The Dubai Government and the Department Economic Development (DED), creates unconditional business openings and appealing environment for businesses. However, several people are barricaded by the simple requirements of starting a business in Dubai.
Here listed are some of the major requirements if you are also wondering how to start a business in Dubai:
- Reserve a Company Name / Trade Name for business setup in Dubai.
- Setting up business in Dubai require you to register the company at the Department of Economic Development.
- Notarize the company’s Memorandum of Association at Department for Economic Development.
- Submit and sanction the company documents with Department for Economic Development for starting a company in the UAE or even in Dubai.
- Attain Trade License fitting your business activity and jurisdiction
- Register for membership at the Dubai Chamber of Commerce and Industry (DCCI)
- Apply at the Ministry of Labor for the establishment card
- Register employees with the Ministry of Labor
- Register employees with the General Authority for Pension and Social Security
- Rent or Lease an Office
- Get in touch with business setup service providers, to derive a professional and well-informed outlook for your business.
If you have considered starting your business in Dubai Mainland, then you have made the right choice! However, before you start your business expedition, you must know how to start a business in Dubai Mainland.
There is a list of documentation and paperwork involved in any kind of business setup in Dubai as well as across the UAE. The business entities or a foreign national should partner with a UAE National to start a business in mainland region. They also need to facilitate documentation such as trade license, registration of the company and other permissions from the Department of Economic Development.
Here are the requirements to start a business in Dubai Mainland:
- Decide your business activity
- Get a name approval
- Select a business partner
- Acquire initial approval
- Draft the Memorandum of Association
- Rent an office
- Get the tenancy contract attested & Ejari
- Submit the acquired documents to DED
- Collect your business trade license
Freezone Business Setup in UAE is a swiftest option to start a company in Dubai. Incorporating a company in Dubai freezones are generally not an expensive affair. The Dubai government has always been encouraging foreign investments & creates business opportunities in Dubai. However, freezone jurisdiction is one of the best integrations that has encouraged investors to start a company in Dubai.
Here are the requirements to start a business in Dubai Freezones:
- Decide the right freezone that suits your business activity
- The freezone authority is a single window authority
- Freezone authorities have their own set of guidelines
- Understand the difference between an FZE and FZCO
- You will generally only require your passport and visa to start the initial process of free zone company formation. (Depends from freezone to freezone)
There are mainly three certificates required to start a business in Dubai or anywhere else across the UAE.
- A commercial trade license covers various kinds of trading & business activities.
- A professional license covers professional service and related businesses.
- An industrial license is used for business in manufacturing units and industrial works.
To start a business in Dubai permissions from Ministry of Economy and Commerce, Ministry of Finance and Industry, Ministry for Health, Registration from the Chambers of Commerce and Industry are also involved. This completely depends on the type of business activity.
To know more about how to start a business in Dubai or to ascertain the various costs for business setup in the UAE, contact Shuraa Business Setup now!
Shuraa Business Setup is a leading business setup services provider and a commercial consultancy, that offers substantial solutions with regards to business-related issues in Dubai as well as in any other parts of the UAE. For more information or to book a free consultation with a business setup consultant, feel free to call us at +971-44081900 / 050 7775554.