The business process in Dubai is made up of some specific phrases that are compulsory for foreign investors to fulfill. The company registration in Dubai can become an easy procedure for freshers who are unfamiliar with the rules and regulations of UAE government policies.
The business consultancy agencies are available in Dubai which provides important details to their clients by resolving complex issues. The registration procedure is comprised of collecting, approving, and sending documents to government departments.
For registering a company in Dubai, you need to search and understand the importance of desired documents which are necessary to get attested by Dubai legal authorities.
Here are those steps which are essential to be fulfilled.
Types of sectors for company registration in Dubai
There are three major types of sectors for company formations in Dubai, you need to choose one of them to establish your business in Dubai.
- Free zone Company
In the free zone, you will have 100% ownership and no need for local agents or local sponsors to get extra approvals from them. The free zone has some interesting perks such as VISA for residence can be obtained easily, you only have to send them company size details and cost of free zone Dubai company registration is low compared to setup a Mainland company.
There are several free zones in the Dubai district but you need to elect that zone that suits your business type.
- Mainland Company
The mainland area is the most expensive place for registering a company in Dubai. The commercial and professional businesses are present in abundance but if you are not hiring the business consultancy firm then getting an office in the mainland becomes a tangled situation for you.
Mainland company requires maximum approvals from government departments or local sponsors ownership percentage but business consultants can clear the way for you as they can offer you services which can be helpful for your company registration process in Dubai.
- Offshore Company
These companies are doing their business policies outside Dubai boundaries. They are also known as a non-residency company but the registration procedure will be applicable for them.
The offshore companies have some perks like establishing a virtual office, getting tax exemption, approving documents online. The business formalities and cost of registering a company in Dubai is less compared to free zone and mainland sectors.
Choose your business type for company registration in Dubai
Another step for registration is to filter the company category.
- Sole proprietor company
Are you the only owner of your company? If that is the case then you are responsible for all financial statements and documents approval in Dubai.
- Partnership company
The company consists of one or more general partners required to collect their documents for governmental approvals and must be present when local sponsors are making a deal for company ownership.
- Professional company
Those companies which are working in Free zone or Mainland areas and have a complete team of employees are considered as a professional company. In Dubai, the majority of companies are professional enterprises and they are required to respect UAE norms to avoid any serious consequences.
Selecting business license for company registration in Dubai
If you filtered your business type and in which sector you will establish your company then the next step is to apply for a business license in Dubai.
- Commercial License
This license is for those companies who are selling or buying goods, DED (Department of Economic Development) will be the department you need to contact for acquiring this license.
- Industrial License
The free-zone region is perfect for industrial activities and if your enterprise dealing with natural resources extraction or selling them, you need an industrial license from DMCC (Dubai Multi Commodity Centre).
- Professional license
The DED or Dubai Chamber can only approve a professional license if you are planning to open electronics, health, auto shop.
Obligations for license approval
To get a legit permit from DED/DMCC these documents are compulsory to submit online or with a business consultancy firm’s help:
- Application form
This application form will be available online and you can enter/attach legal documents with personal business details.
The memorandum of association is vital for company registration in Dubai to define your business model and shareholders’ details.
- Get your employees registered with the Ministry of Labour
When you are asked to submit details about employees of your company, they must be registered with the Ministry of Labour which can be possible if they have UAE immigration cards and residential papers.
Making a deal with local sponsors
Local sponsors are half owners of your professional company in the mainland. Getting a trustworthy sponsor is extremely hectic work, the business consultants in Dubai can get you a free agent who will help you to complete your paperwork in minimum time.
Apply for UAE VISA
The company registration in Dubai can become more legal if you have UAE VISA. It is advisable to apply for Dubai VISA for yourself, company partners, and family if you are planning to spend more time in Dubai.
Creating a bank account
A bank account is important for your business transactions in Dubai, business consultants can assist you to get an authorized bank account that will seal your business registration process.
Documents Required for company registration in Dubai
Here is a brief detail about some significant documents that are required to attach with the company registration in Dubai form.
- Governmental stamped initial approval forms.
- Dubai Chamber of Commerce and Industry Registration approval letters.
- Company trademark certificate.
- Passport copies of business partners and employees.
Cost of company registration in Dubai
The company registration process in Dubai is slightly expensive if you are a foreign investor because you need to pay for a trade license, VISA processing, office for rent, application fee, bank account payment, and last but not least trademark fee. With the combination of all these requirements, you have to spend about AED 14,000 to AED 20,00.
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