русский

|

Blogs

Guide for Business Setup in UAE

Guide for Business Setup in UAE

Published On:
July 2, 2022

Every businessperson envisions an idea of establishing a business in Dubai. Due to the excellent economic climate, investors from all over the world rush to the region. Furthermore, the prosperous city provides a slew of incentives for starting a new business. Zero taxation, full ownership, a strategic global location, cutting-edge infrastructure, a diverse economy, and long-term visas are just a few of them. As a result, the number of business owners flocking to the emirate each year increases significantly.

Establishing a start-up or firm, on the other hand, is a challenging process that requires much planning. Furthermore, studying a foreign country's norms and legislation, as well as comprehending every element that is necessary for business setup, takes time.

If you are looking for a service provider that can help with your business setup in Dubai but are having difficulties, Freezoner provides the perfect option for you. Continue reading the step-by-step guide for more details.

Guide for Business Setup in UAE

Step-wise Process for Company Setup as an Expatriate

The key steps for setting up business are as follows:

Step 1: Filling out the application form and sending the required documents to apply for a visa.

Step 2: Choosing the type of business you wish to start

Step 3: Choosing the right location depending on commercial activity, whether setting up an offshore company, free zone company, or mainland company.

Step 4: Naming your company, keeping in mind it should adhere to all regulatory regulations which include:

  • It must not infringe on the country's order or public morals.
  • A religious name, a logo of an external body, or a governing entity should not be included in the name.
  • It must not have been registered previously.
  • It should be compatible with business activity and legal status.
  • It should be compatible with the nature of the business and the legal position of the company.

Step 5: Finding a local sponsor for foreign investors in order to establish a mainland business setup in Dubai.

Step 6: Getting approval from the Department of Economic Development (DED) by submitting an application and supporting documents

Step 7: Drafting a Memorandum of Association (MoA) that represents the company’s charter and governs external business activities.

Step 8: After successful submission of the application and documents, an individual will receive a payment voucher, valid for 30 days. During these 30 days, pay the license fees to obtain it.

Step 9: Opening of corporate bank account in UAE.

Step 10: Registering for TRN number and business by visiting Dubai Chance of Commerce and Industry.

Required Documents

The following documents are required for a company formation in Dubai:

  • Completely filled application form.
  • Business Plan.
  • NOC from sponsor.
  • Hardcopy of Existing trade registration certificate/license.
  • Colored passport copies of shareholder, director, and manager of the new company.
  • Signature of the freshly appointed firm director and manager.
  • 2 years of audited financial reports for a corporate organization or a reference certificate from a bank of shareholders.

UAE Varied Trade Licenses for Foreigners

UAE Varied Trade Licenses for Foreigners

There are four different types of trade licenses accessible to foreigners for company setup in the UAE, as listed below:

Commercial

DED issues a commercial license to those who own businesses or firms that trade and engage in more than ten business activities. This license allows foreign business owners to possess only 40% of their company on the mainland and carries the suffix LLC. The license offers many advantages such as 0% corporate and income tax, cheap VAT, UAE visas for the employer, employee, and dependents, and local and worldwide trading.

Industrial

This license is required for business that produce or manufacture goods in an industrial setting. A physical premise or a warehouse in UAE is necessary to obtaining industrial license.

Professional

DED grant professional licenses to those who have a certain area of expertise and educational background. Ex-pats have 100 percent ownership of the license, which is based on the professional’s ability.

Tourism

The license is given by the Department of Tourism and Commercial Marketing (DTCM) to international investors who want to start a tour and travel business. Further, it is categorized in the following 3 categories:

  • Inbound
  • Outbound
  • Travel Agency

Why Choose Freezoner for Setting up a Business in Dubai

Freezoner helps businesses succeed in a city, considered aa a commercial hub by providing detailed information and guidance. We strive to offer full support throughout the business setup process, solving every concern and ensuring simple, painless, and transparent process. All you have to do is send us the required documents and information about the type of business you want to start. The rest will be taken care of by our certified personnel, who will handle everything from your license and visa applications to contacting all relevant authorities and departments. Get in touch with us today and be ready to own and operate a business in the mighty city.

Share

BLOGS YOU MIGHT LIKE iN SAME CATEGORY

Your Guide for Opening a Small Business in Dubai

If you’re an investor and you’re looking for the best place to start a small business, well we have the perfect location! Open your small business in Dubai! Yes you heard it right Dubai is full of opportunities and we at freezoner will help you step by step in the process, with some simple steps. […]

Details
What Is the Corporate Tax Update In UAE?

The UAE government and the Ministry of Finance launched a new corporate tax update. The new updates come as a review by the Federal Tax Authority on businesses' net profit.  The  UAE government seeks to achieve strategic economic goals by creating a fast-paced transformation in the legislative regulations.  The corporate tax update was effective in […]

Details
Updates On The Property Golden Visa

  Still hesitant about acquiring the Golden Visa or facing some obstacles?  Here are some new updates on the property Golden Visa that will urge you to make the right decision.   The UAE government has launched new updates regarding the property Golden Visa to encourage more investors to apply for the Dubai Golden Visa. […]

Details
Ultimate Guide On How To Open Company In Saudi Arabia

In this ultimate guide, we will shed light on how to open a company in Saudi Arabia and answer why you should choose Saudi Arabia in the first place.   Admittedly, Saudi Arabia is one of the supportive environments in terms of economic growth. Lately, the Saudi stewardship is launching several economic initiatives.    One […]

Details
Incorporating Business In Dubai

Have you decided to expand your company? Great, that’s the step you will never regret, especially when incorporating business in Dubai. The United Arab Emirates is a country of opportunities as it attracts ambitious investors and top-notch professionals to start their success stories there.   Yet, taking the step of incorporating business in Dubai can […]

Details
A Full Guide On Getting A Business Loan In Dubai

  Every business needs a boost to scale and expand. If you wish to grow your company's operations, getting a business loan in Dubai can be the boost you’re searching for.   In this article, we will pinpoint all that you need to know about business loans in Dubai and how to get a business […]

Details
How to Start a Business In Dubai

Wondering how to start a Business in Dubai!  Worry no more, we at Freezoner will tackle all the details of this crucial journey from start to finish. Let’s first state some facts before delving into this topic. Dubai is the number one destination for all ambitious investors who wish to kickstart their investment journey in […]

Details
The Complete Guide to the UAE Green Visa

  Before embarking on the details of the UAE Green visa, one cannot overlook the high potential of the ecosystem in the UAE that encourages professionals and investors to explore new opportunities in a supportive environment. UAE never fails to launch new rules that empower both residents and expats.   Thus, the UAE residency dream […]

Details
Profitable Business In Dubai In 2023

Profitable Business In Dubai In 2023    Dubai is the land of constant opportunities! But what makes it a point of attraction is that the UAE government makes it easier for investors to build their businesses faster than any other Arab country.  Not only that UAE opens doors for you to invest in a healthy […]

Details
7 Best Small Business Ideas in Dubai with Low Investment

Deciding on taking a big leap like opening your business is a take-it-or-break-it-deal, especially if you’re searching for a small business idea with low investment to start with. But what makes you confident in taking this step is that one of the safe investment-friendly cities to start your business in is admittedly Dubai. Besides, UAE […]

Details
How to Open a Restaurant in Dubai?

Wondering how to open a restaurant business in Dubai as a resident or expat?  We will tackle all you need to know to start your restaurant business in Dubai but firstly let’s ask why choose Dubai! As a cosmopolitan city as it is, Dubai is your number one destination to start your business, especially in […]

Details
Dubai Business Associates

Discover the Dubai Business Associates Program: Propel your entrepreneurial journey, forge connections, and unlock success in Dubai's dynamic business landscape.

Details
1 2 3 4

Freezoner is the UAE’s award-winning Business setup consultancy company that helps investors establish their business in the most cost-effective & efficient way

Quick Access

Rights Has Been Reserved For Freezoner 360 2024