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Setting up a Company in Dubai 

Dubai is known to be the commercial hub of the world. Entrepreneurs and investors from all around the world dream of establishing their dream projects on this well-off land. Besides, there are several benefits of setting up a company in Dubai. For instance, business owners do not have to be concerned about paying corporate and personal taxes on company profits; there arenu2019t any hidden costs and surcharges in starting a company in the Emirates; the growing population can bring in more market and revenue, and many more. To know more about the perks of business setup in Dubai, contact Shuraa.

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Setting up a Company in Dubai 

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  1. START A BUSINESS IN DUBAI, UAE: STEP-BY- STEP GUIDE IN 2023

  2. START A BUSINESS IN DUBAI, UAE To start a company in Dubai or anywhere around the world is an important decision. conceptualising, research, budgeting, set-up, and decision- making among other things. It also requires guidance and assistance on selecting the right trade license for your business, especially if you are a new entrepreneur. Here, you will learn about the important steps to start a business in Dubai, UAE. The UAE is a popular destination among investors and entrepreneurs. Not only is it an investor-friendly country, but its low tax policies and ease of doing business have helped strengthen its position as a business hub in the Middle East. The government also has in place rules and regulations that favour and encourage businessowners. It involves planning,

  3. HOW TO OPEN A COMPANY IN DUBAI – THE FORMATION PROCESS Although, setting up a business in Dubai is relatively easier. Experts at Shuraa Business Setup can make creating a business account easier. Additionally, they will handle the paperwork and other issues on your behalf.

  4. KEY STEPS TO START A BUSINESS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Select a business activity Select the jurisdiction Finalise the company structure/legal form Get approval for your company name and activity Apply for your trade license Register your company Find a local agent (if required) Get your external approvals Prepare your Memorandum of Association Rent an office Get the tenancy contact & ejari Get the initial approval Collect your trade license

  5. 1. SELECT A BUSINESS ACTIVITY When selecting a business activity for your entrepreneurial venture, keep in mind the practicality of the chosen activity in relation to the UAE market. Before you open a company in Dubai, do a thorough research on the feasibility and profitability of the activity. Then decide on when to start a business in Dubai, UAE.

  6. 2. SELECT THE JURISDICTION The UAE market is divided into different economic zones – Mainland, Free Zone, and Offshore. These economic zones are also called jurisdictions. Each jurisdiction has its own set of laws and regulations pertaining to business setup. They also cater to different business needs. However, selecting a jurisdiction for your business depends requirements and your business activity. on your business

  7. 3. FINALISE THE COMPANY STRUCTURE/LEGAL FORM Choosing the legal form for your company is an important decision when starting a business in UAE. It sets the tone and structure for dealing with profits and losses and how you should organise your resources and assets. Decide the legal form or your company structure during the initial stages of planning.Following are some of the legal forms or company structures under which you can register your business in the UAE: Limited liability company (LLC) Sole establishment Civil company Local company branch GCC company branch Foreign company branch Free zone company branch Holding company

  8. 4. GET APPROVAL FOR YOUR COMPANY NAME AND ACTIVITY The Department of Economic Development (DED) must approve the trade name for your company before you can move ahead and start the process of your company set-up in the UAE. Along with your company name, your selected business activity also goes through an approval during this stage. Once you receive the approvals, you will have to submit documents to apply for your UAE trade license and begin the process of opening a company in Dubai.

  9. 5. APPLY FOR YOUR TRADE LICENSE There are four types of trade licenses in the UAE, also called business licenses, that you can choose from: Commercial License Professional License Industrial License Tourism License You can also apply for any of these trade licenses if you plan to start a business in UAE mainland. The licensing structure in UAE free zones is different and is also dependent on the business activity your company decides to undertake.

  10. 6. REGISTER YOUR COMPANY Company registration and licensing is a simultaneous process. However, the entire process of documentation and approvals goes through various stages. In this step, you also have to get all the approvals from relevant government authorities as requested by the Department of Economic Development. And ,the documents required are different for each company type and activity.

  11. 7. FIND A LOCAL AGENT (IF REQUIRED) Earlier, opening a business in Dubai, required to mandatorily find a local partner. An Emirati partner/agent must be a UAE national only. As Finding a trustworthy local agent can seem tiring, especially for an aspiring entrepreneur looking for business startup in Dubai. A business setup consultant can connect you with companies that offer corporate sponsorship where you will be given documented authority and 100% ownership of your business.

  12. 8. GET YOUR EXTERNAL APPROVALS DED may request additional approvals from other government agencies, depending on your business activity. For instance, some businesses may be asked to get approvals from the municipality, specific banks, embassies, etc. or non-government

  13. 9. PREPARE YOUR MEMORANDUM OF ASSOCIATION It is important to understand the complexities of a Memorandum of Association (MoA) to start a business in Dubai. Therefore, before drafting the MoA, make sure to get expert advice. The MoA should be drafted in accordance with the UAE government’s mandates. It should also take into consideration your business interests before you start a company in Dubai.

  14. 10. RENT AN OFFICE Depending on your business needs, you can choose to rent an office unit or opt for a shared workspace in a business centre. An office space can also determine the number of visas you can request for from the Department of Economic Development (DED).

  15. 11. GET THE TENANCY CONTACT & EJARI When you start your own business in Dubai, you might need an ejari. This tenancy contract is the agreement between you and the real estate agency whose office unit or shared workspace you intend to rent. Ejari is an online system governed by the Real Estate Regulatory Agency (RERA). It also ensures fairness and transparency between both parties involved in the tenancy. Furthermore, you must submit your tenancy contract and a few more documents to activate your Ejari account. Ejari is very important because you need it to get or renew visas for your family members and/or employees.

  16. 12. GET THE INITIAL APPROVAL Before getting your business license to start a business in Dubai, you must get the initial approval from DED. This approval indicates that the UAE government does not object to you starting a business in UAE. If you do not receive this approval, you cannot proceed to the next steps in the application process.

  17. 13. COLLECT YOUR TRADE LICENSE To get your UAE trade license, you will have to submit the following: Memorandum of Association (MoA) Trade license application Relevant government forms Trade name reservation certificate Initial approval certificate External approvals (if any) Tenancy contract Ejari registration certificate Passport copies of partners NOC for partners (if any) Other requirements by the DED (if any)

  18. CONTACT US : +971 44081900, +971 507775554 info@shuraa.com www.shuraa.com Sheikh Zayed Road, Office 501, 5th floor, Aspin Commercial Tower, Dubai, UAE

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