Steps and procedures for establishing a company in Dubai It is no secret to any of us that the UAE is a prominent investment destination for anyone wishing to invest in the Arab region and the Middle East region in general. Among the seven emirates, Dubai has the largest share of interest from tourists and investors due to its strategic location. And due to the richness of the investment market and its rapid development, In addition to providing many, many advantages and facilities to investors and business owners.
Thank you for reading this post, don't forget to subscribe!The company in Dubai is a legal entity registered with the Department of Economic Development in Dubai. Governed by the UAE Commercial Companies Law (Federal Law No. 2 of 2015)
It offers the investor many advantages. If you want to set up a company in Dubai, Whatever the size of a large company, small, Or medium, you need to do many procedures and steps.
Itqan helps you find all the information you need to start your own business in Dubai
such as the necessary procedures for establishing a project in Dubai, Investment opportunities in Dubai and many other details…
What are the steps to establish a company in Dubai?
Determine the nature of the work or the company’s activity
Initial approval
Choosing a company headquarters
Statements of the authorities concerned with the activity of the establishment
Trade name registration
Obtaining the license
Let’s move on to the details….
Steps to establish a company in Dubai
The UAE government offers many, many privileges and facilities to help investors when establishing an investment activity on its lands, but there are some steps that must be followed carefully to start your project correctly.
These procedures are divided into several stages…
Determine the nature of the business or the company’s activity
Companies are divided according to their commercial activity into 3 types:
· commercial
Professional
· Industrial
Determining the company’s activity, in turn, helps to identify several things. The most important of which is the type of company, its legal form, and the parties from which approval must be obtained. The following are the legal forms of companies and the activities that are permitted to be practiced in the UAE:
Determine the legal form of the company
You must determine the legal form of your company in order to determine its type in order to register your commercial activity with the concerned authorities such as the Economic Development Authority
Companies are divided according to their legal form into five types:
· A limited liability company.
· Solidarity Company.
Public shareholding company.
Civil Works Company.
A private joint stock company.
Initial approval
You can obtain the initial approval after completing the first steps in the process of establishing a company in Dubai to help you follow up to obtain the approval of all the authorities related to the activity when necessary, However, foreign investors must obtain the approval of the General Directorate of Residency and Foreigners Affairs before obtaining the initial approval.
Choosing a company headquarters
This step is one of the very basic and important steps in the process of establishing a company in Dubai. As all companies must have a physical and real address in Dubai, A lease contract certified by the Real Estate Regulatory Authority in the Emirate of Dubai must be presented to obtain the license. We at Itqan will help you complete all legal processes and find offices for rent in Dubai .
There are several other things to consider when choosing a location:
The owner of the new license or the local partner must be the same owner or partner in the existing license on the site
The total number of licenses owned by a citizen should not exceed 10 licenses subject to the system of multiple licenses on the same site.
The area of the company’s site should not be less than 200 square feet
The various activities of the company require approvals from the authorities concerned with the company’s activity. which you can inquire about at the Department of Economic Development, including:
Ministry of Economy for insurance activities
The Ministry of the Interior for works related to transportation
The Ministry of Justice for the activities concerned with providing legal advice
Civil Defense for the activity of selling firefighting equipment
Trade name registration
The company’s trade name plays a key role in determining the type of license granted to it. When choosing a trade name, there are several criteria and conditions that must be adhered to. The most important of them:
The name should not contain inappropriate words, Not to violate public morals
The name should not be repeated or used by another company
The name of the company should express its commercial activity
Obtaining the license
When you have completed all the previous steps, you can obtain the license after taking a few other simple steps. Which:
Attach the documents required for the previous steps and submit them to the Department of Economic Development
Pay the trade license fee
Membership registration in the Chamber of Commerce
To register membership in the Chamber of Commerce, the following requirements must be submitted:
- A copy of the license issued by the competent authority in the Emirate of Dubai.
- authorized signatures in the delegated signatures card, Provided that the cards of the signatories are obtained from any of the branches of the Dubai Chamber, With passport photos of all authorized signatories. (Delegation is accepted after the conclusion of a notarized agreement or power of attorney).
- A copy of the memorandum of association (foundation agreement), This applies to limited liability companies and branches of foreign companies.
- Submit a copy of the incorporation certificate (this applies to companies operating in the free zone) Pay the fees (if not paid along with the license issuance fees (Department of Economic Development).
Now that you have joined as a member of the Dubai Chamber of Commerce, you can launch your project and start practicing your commercial activity.
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If you encounter any difficulties at any stage of establishing your company, or have any legal or commercial inquiries, do not hesitate to contact us , as we are ready to provide advice at any time.
