BUSINESS SETUP IN DUBAI
- Company Formation
- Trade License
- Bank Account Opening
- License Renewal
Business Set up in Dubai is a popular choice for entrepreneurs and companies looking to expand their operations in Middle East. With its strategic location, business-friendly environment, and world-class infrastructure, Dubai offers a unique opportunity for businesses to thrive. To set up a business in Dubai, you’ll need to choose the right business structure, register your company, obtain necessary licenses, and open a corporate bank account.
Types of Business Setup
- Mainland Company
A mainland company allows unrestricted trading across the UAE, with the option to lease or own property. This setup is ideal for businesses that want to operate freely throughout the country. However, it may require a minimum of 51% local ownership in some cases. - Free Zone Company
A free zone company offers 100% foreign ownership, tax exemptions, and streamlined startup processes. Free zones are designated areas that provide a range of benefits and incentives to businesses. However, business activities are restricted to designated free zones.
Company Formation
To form a company in Dubai, you’ll need to follow these steps :
- Define your business activity :
Determine the type of business license you need based on your company’s activities. Dubai offers various business licenses, including commercial, professional, and industrial licenses.
- Choose a Business structure :
Select from various options, including Limited Liability Company(LLC), Sole Proprietorship, or Free Zone Company. Each structure has its advantages and requirements.
- Register your business name :
Ensure the name is unique and complaint with Dubai’s naming conventions.
- Obtain initial approval :
Get approval for your company’s name, business activities, and structure.
- Apply for a business license :
Submit required documents and pay fees to obtain your trade license.
Bank account Opening
To open a corporate bank account in Dubai, you’ll need to submit required documents and meet the bank’s requirements. These typically include :
- Trade license :
A valid trade license copy.
- Memorandum and Articles of Association :
Document detailing the business structure and operational guidelines.
- Passport copies and Emirates IDs :
For shareholders and authorized signatories.
- Proof of address
Utility bills or tenancy contracts.
- Board resolution :
Authorizing the opening of the bank account.
License Renewal
Business licenses in Dubai typically need to be renewed annually. To renew your license, you’ll need to :
- Submit required documents :
Update business information and submit necessary documents.
- Pay renewal fees :
Pay fees to maintain your license.
Additional Requirements
- Visa arrangements :
Secure visas for investors and employees to reside and work in Dubai.
- Emirates ID
Obtain an Emirates ID for UAE residents.
- Accounting and bookkeeping :
Establish a robust accounting system to monitor financial health and ensure compliance.
Additional Requirements
- Strategic location :
Connecting Europe, Asia and Africa.
- Tax exemptions :
Free zones offer zero personal income tax and corporate tax exemptions.
- 100% foreign ownership :
Allowed in free zones.
- Stable business environment :
With sectors like real estate, tourism, finance, and technology.
Maqased
Maqased offers reliable business setup and visa services in the UAE, supporting entrepreneurs, SMEs, and expats at every stage.