Dubai is the home for entrepreneurs from all over the globe. With every passing year, the number of investors is increasing to invest in Dubai business. People from around the world are heading towards Dubai because of the various benefits. Start Business in Dubai
New business startups are always welcome in Dubai by the UAE government. The number of business investors is increasing in the last few decades. It is from the time the Dubai government has shown its economic stability to the world.
Advantages of Starting Business in Dubai, UAE
The recent market trends in Dubai offer a lot of opportunities to foreign investors. Dubai attracts business people from all around the globe every year to start a business.
Here is the list of top reasons for Company Formation in UAE–
How Can a Foreigner Start Business in Dubai, UAE?
Foreign ex-pats can start a business in Dubai very quickly. Also, Dubai has many company formation experts. So creating a new company is very easy in Dubai; it just requires few steps –
Decide The Business Activity
For starting any new business, what is essential? To decide the type of business and its functions. Determining the business activity will help in selecting the business locations. Every free zone location allows a different set of business activities to operate there. So, depending upon your business nature, you will have the option to select the free zone’s location.
Decide The Trade Name
Do you have any idea how strict UAE is for trade names? Yes, UAE has very stringent trade name rules. You have to follow all while naming your business. Do not use any offensive language or company names that refer to any religion, god name, or political group. Learn all the verses on naming conventions. Also, you cannot an already existing trade name. Therefore select at least three words according to preference. If one gets rejection, you can get the other trade names.
Decide The Business Location
Once you finalize the business activity and the trade name, select the mainland and free zones’ business location. Dubai has many continents and free zones locations to start a business. For creating a business in the mainland, you will need a local partner. The local partner will own 51% ownership of your company. Whereas if you select Freezone for starting your business. You will not need the local Emirati for it.
You have the absolute right to your business. Both locations have different sets of rules. So choose wisely.
Complete The Business Setup Paperwork
Complete the paperwork for the trade name registration and business activity. Submit all the documents along with it like shareholders passport copies, MOA, AOA, etc.
Some free zones require additional documents like NOC, which says you have permission to start your business. Submit all the documents very carefully. The absence of any form or sharing any wrong document will lead to the rejection of your application.
Receive the Trade License
Once you submit all the documents carefully, the DED, Dubai will review your records. If everything is fine with your application, they will notify you and issue you the trade license.
Open Corporate Bank Account
After you receive your trade license, the next step is to apply for a bank account. To run a business successfully in Dubai, you need a corporate bank account. There are various local and international banks present in Dubai, UAE. It is your choice to select the bank. If you are taking the help of your business setup consultants, you can also ask them to open a bank account. They will help you in selecting the best option for bank account opening.
Process Your Visa
The last step for company formation in Dubai is to process your visa application. You can apply for the visa of your family, employees, etc. Many free zones allow visas for your family members as well. Once your visa process completes, you can start your business smoothly.
Company formation in UAE is straightforward if you have the right approach and knowledge of all the steps. Within few weeks, the process completes. If you don’t have the right direction, you can face some complications at the same stage. Therefore it is advised to take guidance from a company formation specialist. The experts make sure that your license application and visa process is error-free. You have to share some basic information and documents to start your business.
Amy is a zealous writer and With her passion to read and write about business setup consultants, business setup in UAE, business setup services in UAE, company formation and pro services and its implementation in our modern world. Her inquisitiveness towards learning about how the business has evolved in emirates is commendable. With such curiosity embedded in herself, she researches extensively before writing a blog to deliver a credible and detailed content piece.