Incorporating a business in Dubai is a lucrative venture. You get sufficient support from the government, and business formation in this region is quite straightforward and doesn’t take much time.
We, at Shuraa, empower you to launch a company in the Emirates. We take care of all the steps, including banking, licensing, etc. You can get in touch with business consultants to know more about our offerings.
How to Incorporate a Business in Dubai?
List the Business Activities
You need to create a list of all the business activities you want to carry out in the UAE. The DED maintains a list of more than 2000 permissible business activities, and you’re free to choose the ones that align with your desired business license. Moreover, each independent jurisdiction also maintains an exhaustive list of activities.
Once you have shortlisted the activities, you need to finalize your company’s legal structure. The best part about doing business set up in Dubai is the flexibility to choose the legal framework of your choice. You can open an LLC, joint venture, sole proprietorship, etc., in the UAE.
Reserve a Trading Name
Business investors need to choose a legal trading name for their dream venture in Dubai. It’s imperative to oblige all the naming convention protocols while choosing your company’s official name. Ensure that it’s unique and indicative of your business activities. Moreover, never frame the business name in a way that the business name gimmicks an established enterprise.
Furthermore, you need to use an individual’s full name and not any nickname if you wish to keep it as your legal name. Usage of derogatory terms or words that are insulting in any sense is punishable by law. Therefore, refrain from indulging in such practices to ensure your company remains completely compliant in the UAE.
Consult with Business Formation Experts
Expatriates need to handle several chores to establish their company in the Emirates. Therefore, it might become too hectic and taxing to manage everything at once. That’s where company formation expert chip in and change the game for you. The business consultants at Shuraa Business Setup offer end-to-end assistance and take care of documentation, licensing, and everything related to business incorporation in Dubai.
We also help you choose the ideal business location for your business after analyzing your business aspirations and budget constraints. Shuraa becomes your silent business partner and empowers you to enjoy complete ownership of your business at a nominal cost. The best part is that our work doesn’t end when your business starts, it ends when your business succeeds.
Finalize a Business Location
Mainland, free zone, offshore – where do you wish to launch your company? A mainland establishment should be your preferred choice if you wish to have hassle-free access to the world-famous local market of Dubai. Moreover, you can also trade freely within Dubai and all across the UAE when you establish your business in the mainland region.
The free zone establishment offers its own set of advantages. They have independent jurisdiction, lenient business laws, alongside the provision to enjoy 100% foreign business ownership. Moreover, specialized free zones cater to your specific business needs and provide personalized infrastructure and resources.
Apply for a License
The next step of incorporating a business in Dubai is securing the desired business license. It’s the legal permit to carry out all the activities approved as part of your business license application. Furthermore, you can obtain external approvals from various authorities in case you need specific privileges to commence your business in the Emirates.
Mainland companies can connect directly with the DED while free zone and offshore companies need to contact their concerned jurisdiction for acquiring the license. Many investors forget about the renewal policy of a trading license. Remember, you need to renew the trading license at least a month before its expiry to extend its validity.
Open an Account
Opening a bank account in the UAE is straightforward and doesn’t consume much time. However, it’s vital to open a corporate account for your company in a bank that’s reliable and offers long-term benefits. It doesn’t matter if it’s a local bank or an international one as long as it has robust security mechanisms, top-notch banking facilities, etc.
You don’t need to worry about shortlisting these banks as Shuraa is there to assist you with the same. We understand your requirements, shortlist a few banks that align with your business model, and list the pros and cons of each bank. This way, you’re able to make an educated decision regarding your bank account for your dream venture.
Benefits of Incorporating a Business in Dubai
Listed below are a few benefits of setting up a company in Dubai:
- You don’t need to pay any taxes in Dubai. Moreover, the VAT rate is also just 5% (among the world’s lowest). Such tax-friendly laws empower you to avoid double taxation and make more profits right from the start.
- A company set up in Dubai is a risk-free business venture as the government is vigilant to provide a working environment for all investors that’s free from crime and discrimination. As a result, ventures belonging to various sectors and industries flourish in the UAE as compared to other regions.
- You can now enjoy complete ownership of your business in the free zone regions as well as the mainland region. This empowers you to be your own boss and have the power of making critical business decisions based on the discretion of your business partners.
There’s a lot to admire about company formation in the UAE. The government continues to introduce game-changing business reforms, and the response from investors is always overwhelming. The best part is that straightforward, and you can follow the easy steps discussed above to get started.
Incorporate your business with Shuraa
The legal advisors at Shuraa are always there to support your efforts. We provide affordable company formation services that include translation work, licensing, external approvals, paperwork management, and a lot more.