If you are thinking of starting a company in the UAE , Dubai is the right and ideal place as it has a thriving economic business environment that attracts investments. Establishing a company in Dubai has become easier and faster than ever before to help businessmen and investors establish a company in Dubai and expand their business.
Therefore, you must take a set of steps and procedures to obtain approvals from the Department of Economic Development as well as other government agencies. The following are the procedures for establishing a company in Dubai:
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ToggleDetermine the nature of the company’s activity and work
1- Determining the nature of the activity is the first step in the process of establishing a company in Dubai and determining the type of activity you want to practice, which are 3 main types:
1- Commercial 2- Industrial 3- Professional – There is also a tourist license
The company’s activity depends on the choice of the legal form of the company. The following are the legal forms of companies and the activities permitted to be practiced to establish a company in Dubai:
- Limited Liability Company: Includes any commercial, industrial or professional activity, with the exception of legal, auditing and consulting activities.
- Sole proprietorship: includes all industrial, commercial and professional activities.
- Solidarity company: includes industrial and commercial activities only.
- Public joint stock company: includes industrial, commercial and professional activities.
- Private joint stock company: includes any commercial or industrial activity.
- Civil business company: limited to professional activities only.
- Limited partnership: includes most industrial, commercial and professional activities.
- Branch of a local or Gulf company: Includes all activities listed in the parent company’s license.
- Branch of a foreign company: practicing professional activities, commercial representation office activities, and indirect commercial activities such as contracting.
- Branch of a company in the free zone: – Includes the industrial, commercial and professional activities licensed for the parent company within the United Arab Emirates.
2- The company’s trade name:
There are several important conditions that must be adhered to when determining and choosing the company’s trade name, as it is linked to the company’s activity, as follows:
- The name should not contain any inappropriate words.
- Not violating public taste.
- Do not duplicate the trade name or use the name of another company.
- The company name must clearly indicate its commercial activity.
- Do not use the names of countries or government agencies.
3- Initial approval of the company: –
After completing the registration of the company’s trade name, initial approval must be obtained for the company’s economic activity. Some activities require external approvals from entities related to the same activity.
Procedures for establishing a company in Dubai
After obtaining the trade name and initial approval, the company’s headquarters must be determined and selected to practice the company’s activity. The address of the actual office must be located in Dubai to obtain the license at the same office. The articles of association must include the following:
- Identify the names and nationalities of the partners.
- Determine the permissible legal form, whether an incorporation contract or a service agent agreement.
- Determine the name of the company, the purpose of its establishment, the company’s shares and the paid-up capital.
- Determine the percentage of partnership in capital and the percentage of profits and losses for the partners, then document it with a notary public.
These are all the details for the procedures for establishing a company in Dubai.
It is also possible to add several licenses to the same site, up to 10 licenses, provided that the owner or citizen partner is the owner or partner in the existing license for the same site.
After completing the trade name procedures, initial approval, writing the incorporation contract, choosing the location, and obtaining the lease contract.
Submit all documents, pay fees, and then issue the license that enables you to practice the activity.
It should be noted that some activities require external approvals from certain authorities such as Civil Defense, Ministry of Justice, Ministry of Economy, and Ministry of Interior.
After obtaining the license, the company’s membership is registered in the Chamber of Commerce to enable you to start your own economic activity.
After obtaining the license, you can apply and obtain residency in Dubai and the United Arab Emirates.