10 Sep Conditions for opening a commercial registry in Dubai for Saudis
The conditions for opening a commercial registry in Dubai for Saudis are no different from any documents for locals or foreigners. The government in Dubai has also facilitated the procedures for opening a commercial registry in Dubai for Saudis, with flexible steps and necessary conditions.
The importance of obtaining a commercial register for Saudis in Dubai is due to the fact that the commercial register is an official legal document for working and establishing projects in Dubai and establishing companies. The commercial registry also provides many advantages that help in the expansion of the company’s business.
In this article, we talk about the conditions for opening a commercial registry in Dubai for Saudis, in addition to the costs required to open a commercial registry and the types of companies that are established in Dubai for Saudis.
Documents for Saudis to open a commercial registry in Dubai
Documents for Saudis to open a commercial registry in Dubai include submitting several papers and documents related to the company as follows:
- Submit a completed application form to start a business in Dubai.
- Attach the articles of incorporation of the company, if necessary.
- Submit a copy of the passport of the owner of the company.
- Attach a brief description of the business to be established.
The conditions for opening a commercial registry in Dubai for Saudis include a set of conditions that must be met by the company for which a commercial registry is to be issued. It requires legal procedures to enable the investor or entrepreneur to establish a company and operate legally.
Conditions for opening a commercial registry in Dubai for Saudis
- Among the requirements to open a commercial registry in Dubai, Determine the type of economic activity that will be practiced within the company (commercial activity, industrial activity, service activity, tourism activity).
- Opening a commercial registry requires choosing a commercial name that is suitable for the nature of the activity that is being carried out in the company. Choosing the name is in accordance with the regulations and laws of the Department of Economic Development in Dubai.
- The trade name chosen for the company should not be similar to the name of another company in Dubai.
- The trade name of the company must reflect the nature of the activity in which the company operates.
- The company’s trade name should not include the name of God or one of God’s most beautiful names.
- The company’s trade name does not contain the name of a government agency or political terminology.
- The trade name must not violate public taste or morals.
- It is not allowed to use icons and symbols in the trade name. Only letters and numbers are allowed.
- The company’s trade name must contain the first and last names of the owner of the company or one of the partners, and not the family name.
- Obtaining the initial approval regarding the trade name and the nature of the activity is one of the requirements for opening a commercial registry in Dubai.
- Renting an office space to work as a headquarters for the establishment of the company, with the submission of a contract notarized and certified by the Dubai Real Estate Regulatory Authority.
- The founder of the company should not possess more than one trade license and submit the licenses to the competent department in Dubai.
- One of the requirements for opening a commercial registry in Dubai is that the area of the workplace should not be less than 200 feet. In accordance with the nature of work activity.
- Obtaining additional approvals from government agencies concerned with the nature of the company’s activity in Dubai in order to complete the procedures.
- Paying the costs of the trade license is one of the requirements for opening a commercial registry in Dubai, using the available payment methods.
Places to obtain a commercial registration in Dubai for Saudis
Here are some examples of places available to obtain a commercial registration in Dubai for Saudis, As follows:
- Happiness Hall in the main economic building in Dubai.
- The authorized service center in Dubai Economy.
- Dubai Economic Center electronic application.
Costs of opening a commercial registry in Dubai for Saudis
After we discuss the conditions for opening a commercial registry in Dubai for Saudis, We now discuss the costs of opening a commercial registry in Dubai. It includes paying a set of fees in order to obtain the commercial registration.
In the following lines, we discuss the costs of obtaining a commercial registration in Dubai. It is worth noting that the costs of the commercial registration in Dubai are paid at the beginning of obtaining the register, and then the costs are paid annually for renewal. Here are the costs of obtaining and renewing a commercial registration in Dubai:
- Approximately 100 UAE dirhams as the registration fee in the commercial register.
- Approximately 50 AED annual registration renewal fees.
- 10 AED fees for obtaining an extract from the registration page in the Commercial Register.
Fine for late payment of commercial registration fees
One of the legal procedures related to the commercial registry is to renew the commercial registry in Dubai for Saudis on an annual basis and to pay the required fees on the specified dates for the continuation of the commercial work process in Dubai in a proper legal manner.
If the commercial registration fees are not paid on the dates set for annual renewal, A fine of about 200 dirhams will be paid. In the event of significant delay in paying the fees, the fine will be increased.
Types of companies in Dubai for Saudis
Speaking about the conditions for opening a commercial registry in Dubai for Saudis, we must address the types of companies that can be established in Dubai for Saudis. Where companies vary and differ according to several factors, Here are the types of companies such as:
- The limited partnership company is considered one of the most important types of companies in Dubai and consists of one or more joint partners or consists of one or more limited partners.
- A public shareholding company, which is one of the types of companies in Dubai that consists of five or more partners. The federal or local government or others can establish this type of company in Dubai.
- A private joint-stock company The number of partners in this type of company should not be less than two partners of different nationalities, not only the partners holding Emirati nationalities.
- Solidarity company, which is a company consisting of 2 or more partners, provided that all partners hold Emirati nationality.
- The limited liability company, and in this type of company in Dubai, the number of partners can be 2 or more, provided that there is one partner who holds the Emirati nationality.
The costs of establishing a company in Dubai for Saudis
Speaking of the conditions for opening a commercial registry in Dubai for Saudis, we must address the costs required to establish a company in Dubai for Saudis that are less than the costs in any other country.
The low costs are due to the advantages of the city of Dubai in terms of commercial laws, economic, political, cultural and other factors that attract investors to invest in Dubai.
In the following points, we discuss the costs of establishing a company in Dubai for Saudis:
- Provide the required minimum capital and deposit it in the company’s bank account in Dubai.
- Sponsorship expenses for employees and workers residing outside the UAE and will come to work under the name of the company in Dubai and need visas and residency papers.
- Customs fees necessary to import goods and materials necessary for the work of the company, in accordance with the laws and guidelines.
- The costs required to rent an office space in Dubai to make it the company’s headquarters.
- The cost of the company’s furniture, preparation of decoration, appliances for staff and other furniture costs.
For more information about the conditions for opening a commercial registry in Dubai for Saudis, see Contact us now to provide all requirements for establishing companies and businesses in Dubai and free zones for Saudis, Gulf nationals and foreigners. And if you want to obtain a commercial registration in Dubai for Saudis or a commercial license, contact us now.
Contact us today and get a free consultation to implement all your business plans!