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Establishing a private company in Dubai

إنشاء شركة في المنطقة الحرة دبي

٠٧ أبريل Establishing a private company in Dubai

Establishing a private company in Dubai is a strategic step towards taking advantage of the thriving business environment that the emirate offers. Thanks to its unique geographical location and diverse economic facilities, Dubai has become a preferred destination for entrepreneurs and investors from all over the world. Dubai offers advanced infrastructure and a flexible legal framework that allows various businesses to grow and flourish. There are also several free zones that offer competitive advantages such as tax exemptions and 100% foreign ownership, making establishing a private company in Dubai an attractive option. Thus, Dubai is an ideal destination to achieve business ambitions and attract investment opportunities.

Establishing

Steps to establish a private company in Dubai

Establishing a company in Dubai requires following several basic steps to ensure compliance with local laws and facilitate the operation process. Here are the most important steps:

  1. Determine the business activity: The type of business activity that the company will carry out must be determined, whether commercial, industrial or service, as the type of license required depends on it.
  2. Choosing a Legal Structure: Determine the appropriate legal structure for your company, such as a limited liability company (LLC), a subsidiary, a sole proprietorship, etc.
  3. Choosing a business name: Choose a trade name that complies with Dubai’s trade name laws and should not include prohibited or offensive words.
  4. Obtaining initial approvals: After determining the activity and trade name, initial approvals must be obtained from the relevant authorities in Dubai, such as the Department of Economic Development (DED).
  5. Choosing a business location: A suitable office or business premises must be rented that meets the requirements of the business and is approved by the local authorities.
  6. Obtaining a commercial license: After completing the approvals and documents, an application is submitted to obtain a commercial license from the Department of Economic Development or the selected free zones.
  7. Company registration: The company is officially registered with the relevant authorities, and the necessary documents such as the articles of association and the partnership agreement are submitted.
  8. Obtaining residence visas: After the company is established, the company owners and employees can apply for residence visas linked to the company.
  9. Opening a Bank Account: Finally, a business bank account must be opened in one of the approved banks in Dubai to manage the company’s financial operations.

Following these steps carefully will help facilitate the process of establishing a company and ensure a legal and organized launch in Dubai.

Advantages of establishing a private company in Dubai

Establishing a company in Dubai has many advantages that make it a preferred destination for entrepreneurs and investors. The most prominent of these advantages are:

  1. Tax Exemptions: Dubai offers a favourable tax environment, with companies exempt from taxes on personal income and business profits in many cases, especially in free zones.
  2. Full Foreign Ownership: In many free zones, foreign investors are allowed to own their companies outright without the need for a local partner, giving them complete control over their business.
  3. Strategic Location: Dubai is located in the heart of the world, making it a commercial gateway between the East and the West. It has easy access to global markets thanks to its advanced infrastructure at ports and airports.
  4. Advanced Infrastructure: Dubai offers world-class infrastructure that supports various economic sectors, including transportation, communications, and logistics facilities, enhancing business efficiency.
  5. Flexible Business Environment: Dubai’s commercial laws are flexible and sophisticated, helping to facilitate business, including company formation and licensing procedures.
  6. Cultural and economic diversity: Dubai has a diverse international community that attracts skills and talent from all over the world, enhancing opportunities for collaboration and expansion.
  7. Political and Economic Stability: Dubai enjoys strong political and security stability, in addition to a strong and diversified economy, which provides a safe and sustainable environment for business.
  8. Multiple Free Zones: Dubai has several free zones that provide additional benefits to companies such as exemption from customs duties and facilitation of customs procedures.

Establishing a company in Dubai gives investors a strong competitive advantage and the opportunity to grow their business in a diverse and stable global market.

Documents required to establish a private company in Dubai

To establish a company in Dubai , you need to submit a set of necessary documents. The requirements vary slightly depending on the type of company and its legal structure, but in general, the required papers include the following:

  1. Establishment Application Form: The application form for establishing the company must be filled out, which can be obtained from the Department of Economic Development (DED) or the competent authorities in the free zones.
  2. Articles of Association: The company’s articles of association must be prepared, which include details about the partners, capital, and type of business activity.
  3. Copies of Passports: Copies of passports of partners and investors must be provided, and the passports must be valid.
  4. No Objection Certificates: If there is a local partner, you may need a No Objection Certificate from the local partner or from the relevant authorities.
  5. Approval from the relevant authorities: In some cases, you may need to obtain additional approvals from the relevant government authorities, such as the Ministry of Economy or regulatory authorities.
  6. Company Name Determination Documents: Documents proving the choice of company name must be submitted, which includes the registration of the trade name.
  7. Proof of office address: A document proving the existence of a physical place of business, such as an office lease or property ownership, must be provided.
  8. Letter from the bank : Some banks require an official letter or confirmation from the institution about opening a bank account for the company.
  9. Partner Certificates: You may be required to provide certificates or documents proving the qualifications or professional experience of partners, depending on the type of activity.

Be sure to check specific requirements with your local authorities or relevant agencies, as required paperwork may change or vary depending on the business and location.

Establishing

Etqan Company Services for Establishing a Private Company in Dubai

Itqan Company provides a variety of services to help clients establish private companies in Dubai , and is characterized by professionalism and commitment. Here are the most prominent services it provides:

  1. Itqan provides comprehensive legal advice on company formation requirements, including choosing the appropriate legal structure and compliance with local laws.
  2. It handles all company registration procedures and obtains the necessary licenses, which greatly facilitates the establishment process.
  3. The company assists in preparing all documents required to establish the company, including the articles of association, official forms, and other necessary documents.
  4. Itqan provides assistance in opening a corporate bank account, including directing clients to the appropriate banks and assisting them in completing the procedures.
  5. Itqan provides office rental options in strategic locations, helping startups start their operations quickly.
  6. Itqan provides services for obtaining residence visas and work visas for employees, facilitating the process of recruiting workers.
  7. Provides advice on the free zones available in Dubai, and helps clients choose the right area for their business.
  8. Itqan provides marketing services and business support to help companies expand and grow in the local market.
  9. Itqan provides ongoing support to clients after company formation, including accounting and tax compliance services.

Itqan is an ideal choice for investors and businessmen seeking to establish a private company in Dubai, as it provides comprehensive and professional services that contribute to facilitating the process and achieving success.

In conclusion, setting up a private company in Dubai is a strategic step towards achieving business goals and investment ambitions. With its favorable investment environment, tax exemptions, and advanced infrastructure, Dubai offers endless opportunities for investors and entrepreneurs. With specialized consulting services like those offered by Itqan, it becomes easy to overcome the challenges related to company formation and compliance with local laws. Embarking on the journey of setting up a private company in Dubai not only opens new doors for businesses, but also contributes to promoting growth and prosperity in a dynamic and multicultural market. Therefore, the time has never been better to take advantage of the opportunities available in this pioneering city.

Frequently asked questions about establishing a private company in Dubai