High Level Consultancy is Important While While Establishing A UAE Business

Posted by Dubai Business Setup on September 10th, 2018

Since the latter half of the twentieth century, the UAE has become one of the world’s foremost financial and commercial centres. Immense development of the country’s infrastructure and a meteoric improvement in the existing facilities in the cities of Dubai, Abu Dhabi etc has led to the country becoming an attractive haven for businessmen and entrepreneurs.

What You Need To Know

UAE has also passed numerous legislation over the years designed to attract and simplify foreign investment and trade in the country. These legislative measures include the establishment of Free Trade Zones which are an important contributor to the lucrative nature of UAE as a place to establish a business in.

The Department of Economic Development (DED) of UAE has also set simple procedures and guidelines which simplify the process of company formation in Dubai to a large extent. You need legal assistance to establish a company to help you with the trade registration and other important formalities. The first step to do business setup in Dubai is registering your business with the DED.

Company formation in Dubai requires the legal and financial advice of trained business setup consultants. That is why there are some reasons why legal consultancy is so important for you and your business.

Types Of Businesses

Before you approach the DED for a registration and license, firmly establish what kind of business you want to operate under the guidance of your business setup consultants. Under the guidelines established by the Department of Economic Development, there are two thousand business activities which have been further divided into groups and subgroups.

It is very important to clearly state the kind of business activity you have in mind so that the DED knows what kind of business structure to delegate to you. So, please take the advice of your legal counsel. Under UAE law, there are two kinds of business structures present:

• Sole Establishment
• Limited Liability Company (LLC)

Trade Name Is Important

The next important step involves choosing a unique, attractive and original trade name under which your business will be established.

Legal Form For Your Business

After you have decided upon the correct business type with the help of your business setup consultants, the next step in company formation in Dubai is simple enough. You have to choose the legal form of your business. This legal form will contain the description of the type of business you are planning to do business setup in Dubai Mainland or the UAE in general.

While you choose a legal form for your business, please take the advice and consultation of your legal experts. The important factors that you must consider while you choose a legal form are the business type and business activities.

After you are done with these three steps, you can submit your registration request and your business will be geared for initial approval.