Key Steps to Set-Up a New Business in Dubai
Posted by SEO Team on April 17th, 2019
Are you looking to start your business in Dubai? You will be able to start a business in the UAE almost a week after all your legal processes have been sorted. You can take help of the Company Incorporation Services, to have all necessary support. However, you need to take into account some elements in the process before you start legal formalities:
The type of license that you require shall be determined by your business type. These will define the basis of your operations, whether they be commercial or professional licenses. In choosing, however, remember to obtain additional approval from other governmental departments for some activities, such as food trade, jewellery, Veterinary and legal consultancy. Dubai has a list of over 2100 activities that you can choose from the Department of Economic Development (DED). You can contact the DED if you are not able to find your specific one there. Every Free Area has its own rules and formalities for approval. You may also need the support on Opening Bank Account in Dubai.
Key Elements to Incorporate
As a foreign national, you have to opt for a license and location in any of the many free zones of the UAE if you want 100 percent ownership of your company. There are certain types of activities that each free zone provides and Business clarity will help you to find the best option. In the UAE there are more than 45 free zones with different categories of operation. You have to obtain a license from the Department of Economic Development (DED), if you need a local license or need to operate locally. The DED license contains certain limits on foreign ownership based on the legal structures of the various DED systems.
The composition of your company depends on your location and type of business. When you plan a legal consulting firm, for example, it can only be done as a branch or as an individual company. This activity cannot be undertaken by a single owner. Each free zone has its own company structure restrictions and can be viewed on the area's official website.
A very important element of the legal proceedings is your trade name. In the case of a branch of another company, the company name should ideally indicate the nature of the business. The DED official website lists all the rules for trade names.
Thus, if you want to have International Incorporation in Dubai, you can follow the above mentioned steps and get your business established.
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