Starting a business in Dubai has become easier and faster than ever before to help business owners launch and expand their businesses without the need for any arbitrary procedures for the business owner. We will explain how to open a commercial register in Dubai for Saudis and learn the steps for establishing businesses within Dubai.
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ToggleSteps to establish a company in Dubai
Determining the nature of the activity, which is the first step in the process of establishing your company and determining the type of activity you want to practice in Dubai. This will determine the parties associated with the activity and the permitted legal form. Economic activities can be classified into three types: professional/commercial/industrial.
The choice of activity depends on the type of company to establish it. The client must complete the steps shown:
- Determine the economic activity of your company.
- Determine the legal form and parties and determine the following points: the percentage of partnership in the capital and the percentage of profits and losses for the partners.
- Determine and reserve the new trade name in the following ways: Reserve a new trade name / use an automatic trade name, as the reservation number can be used as a trade name.
- Apply for initial approval certificate.
- Preparing the articles of association and service agent agreement.
- Choosing the company’s location and documenting the lease contract. The customer submits the initial approval certificate to one of the service delivery centers, in addition to the lease contract and other documents required by the Real Estate Regulatory Authority. After obtaining the certified lease contract, it is later submitted to the Department of Economic Development to complete the procedures for issuing the commercial license. It must be valid and the site area must not be less than 100 square feet.
- Obtaining approvals from the authorities regulating the activity. The client can learn about the list of economic activities and does not require obtaining any approvals from other government authorities.
- Receive the commercial license.
Opening a commercial register in Dubai for Saudis
After completing the previous steps, you can receive the activity license and open a commercial register in Dubai for Saudis after doing the following:
- Attach the required documents for each of the previous steps and submit them to the Department of Economic Development. Follow up on opening a commercial register in Dubai for Saudis.
- Payment of the commercial license fees within 30 days from the date of issuance of the payment authorization. If the commercial license fees are not paid within 6 months from the date of issuance of the payment authorization, the transaction will be automatically cancelled.
- Register as a member of the Chamber of Commerce: You will need to join the membership of the Chamber of Commerce in the relevant Emirates before you can start your own economic activity.
- When applying, you will be required to obtain an official business license and a lease agreement for the proposed location for your company.
- Add the capital value to the company’s commercial registry data, and the remaining fields will be filled in automatically.
- Issuance of a payment permit and payment of fees Only one payment permit is issued containing the fees for initial approval, trade name reservation, and license issuance fees.
- When applying for a commercial license, please take into account the required documents. The license issuance date is calculated from the date of issuance of the payment authorization.
If you want to own a company in Dubai, you must first open a commercial register in Dubai. It is known that Dubai has become one of the most important commercial centers in the world due to the abundance of fields in it, whether industrial or commercial.
The recent discovery of oil has led to a boom in the economy, and opened up many fields such as extracting and selling natural gas, in addition to building companies and real estate, which was the main reason for attracting investors and foreigners to open companies and invest their money in Dubai.
But in order to be able to set up their own business, they must first obtain a commercial license and open a commercial register.
Ways to establish a company in Dubai
In order to establish a company in Dubai, you must first take the steps imposed by the Dubai Economic Development Authority for anyone wishing to own a company or make an investment in the Emirate of Dubai, which are as follows:
- To determine the economic activity of the company he wishes to open.
- Identify all parties in the company, stating the percentage of profit and loss and the percentage of capital.
- Choosing a business name for your company.
- To apply for a preliminary approval certificate.
- To choose the company’s location and prepare the papers proving ownership of the place or if it has been rented.
- N extracts the commercial license so that you can practice your own activity.
Ways to open a commercial register in Dubai
In order to be able to open a commercial register in Dubai , you must take specific steps as in establishing companies in Dubai, and this is done through the following:
- First, you must attach the documents and papers that were previously extracted to apply for a commercial license and send them to the Dubai Economic Development Authority.
- Secondly, he must pay all fees related to the commercial license application.
- Thirdly, he must register with the Chamber of Commerce as an active member.
- Fourthly, he must add the capital value to the commercial register papers.
- Fifth and finally, he must receive the commercial register.
Reasons to invest in Dubai
Many people seek to establish a company in Dubai, or start investing in the Emirate of Dubai, for many reasons, which are as follows:
- Dubai is considered one of the countries that has different living conditions, which encourages investment in it, regardless of your budget and financial ability to start your own project, as the cost of establishing companies varies from one class to another.
- According to what was reported about the population density in Dubai, and that it is considered one of the countries with a high population density, this made it in constant need of more different projects that serve the community.
- The Dubai government’s support for investors and those wishing to start their own business in Dubai should be taken into consideration, by facilitating all services and requirements for establishing a business.
- Dubai is known for its many trade and industry events, including the largest event in the world, Expo 2021.
- Dubai cares about education and health, in addition to the availability of security, which made it one of the most suitable countries for investment, in addition to the continuous development in terms of developing services and means of transportation.
- The speed of providing government services makes establishing companies easy and fast. You can open a company within a week and obtain a commercial license within a day.
- Dubai gives you the opportunity to obtain residency, which gives you many advantages, including travel to European countries, entering the Gulf countries without the need for an entry visa, while establishing a company in Dubai gives you residency for 3 years.
If your activity is important and beneficial to the community, this makes your chances of obtaining permanent residence great.