How to start a business In Dubai?
Great business comes from great opportunities. The government of Dubai has always provided enterprises across the globe beneficial opportunities serving as an investor-friendly government. Different perks in investment and tax advantages have always motivated the investor to start a business in Dubai. But despite colossal business setup prospects, sometimes it becomes intricate for new business bodies to understand the process to start a business in Dubai. Below we will discuss the details for Business setup in Dubai.
- Nature of Business: The first step is to decide the type of business activity you want to do and check whether the type of business is allowed in the UAE or not. If you choose the Nature of business, then depending on it, you can then apply for a type of license and other consents required for that business.
- Selecting the name and shareholder structure: Conditions for choosing the name are that you cannot name your business that is offensive in language or any religion, e.g., the “Allah” word is not allowed to use in a business name. Business setup Dubai works on a shareholding structure to differentiate the legal type of your business. You can opt for anyone like Sole proprietorship, Joint venture, SME license, Limited partnership, and much more available for trade-in UAE.
- Registration the name: It is crucial to get your company name register with DED (Department of Economic Development) in Dubai. It will take 3 Days to get register and its validation period is of six months. DED accentuates your trade name depending on the license type.
- Lease business premises: Another essential requirement for Dubai business setup is physical appearance. Documents related to run business premises include Real Estate Regulation Authority (RERA), Tenancy agreement, and Ejari number, are require to be deposited.
- Initial approval from DED and Draft: After getting premises on rent, the next step is to get support from DED to submit all the necessary documents. After getting approvals, you can start your business and acquire a license from the license issuing authorities. You will also need to draft a Memorandum of Association to DED. The DED will process your business license once the companies registration process accomplish and you can then collect your business license to do business in Dubai. The business license is issue base on the type of the business.