07 Nov Business establishment in the UAE
Establishing a business in the UAE, what it is, and what are the most important procedures that need to be followed to be an entrepreneur within this great investment country, Research has increased in the recent period on this matter, Where many people, especially young people, realized that earning money is no longer limited to a job only, Rather, you can achieve unlimited profits equivalent to many times what can be achieved by establishing businesses and private projects, The United Arab Emirates is one of the most important countries in which people are willing to invest. It serves as an incubator for investment companies and supports their success and prosperity. This is through many facilities provided by the state to investors from everywhere to encourage them to invest there. In addition to the variety of fields from which you can choose your investment project, It provides excellent infrastructure. Follow us to learn more about establishing a business in the UAE:
Business establishment in the UAE
Perhaps you would like to know more information about establishing a business in the Emirates and the most important steps that must be followed for that, as this requires following a set of procedures and obtaining a lot of approvals, Follow us to know more:
Determine the nature of economic activity
The first step that must be followed to establish a business in the UAE is to determine the nature of the activity in which the entrepreneur wishes to invest. There are a lot of important things that follow from that. such as identifying the legal entity of the business, Determine the type of license.
Determine the legal form
This step is one of the most important steps for establishing a business in the UAE. This step takes place based on determining the nature of the business or investment, and its requirements. It is essential that the legal form of business matches the economic activity you are carrying out.
Reservation and registration of the trade name
This step is one of the most important steps that must be followed to establish any business in the UAE, and there are a set of important rules that must be followed to determine this matter. Including that the name does not contain phrases or words rejected by society, And that there is no existing work that bears the same name, In addition, the name should be indicative of the nature of the work and the type of license and related to it. And from
Application for preliminary approval
And after obtaining the approval of the concerned authorities on the name of the company, An application must be submitted for an initial approval, To ensure that the state does not mind the establishment of this business.
Obtaining a trade license
Before obtaining an initial approval, the foreign investor here needs to obtain approval from some authorities, such as the General Directorate of Residency and Foreigners Affairs.
Memorandum of Association and local service agent agreement
This is not an essential step in all cases. This may sometimes be required based on the legal form of the company. Where this contract is notarized in any court located payer within the United Arab Emirates.
Determine the workplace
It is important to have a real business address within the United Arab Emirates, Until the Department of Economic Development approves the establishment of the project, This requires a notarized legal lease contract.
Additional government approvals, submission of official documents, and payment of fees
After completing all the aforementioned steps, the investor obtains the approval of the concerned government agencies. Then receive the license and pay the required fees, so that the project is ready to start.
In conclusion, we say that investment opportunities in the United Arab Emirates are many and varied. You can earn a lot of profit from it. But this requires a lot of procedures from you, You will not find a better person to take on this task than the experts of Itqan.
Contact us today and get a free consultation to implement all your business plans!