6 STEPS INVOLVED IN COMPANY FORMATION!
Dubai is among the most profitable places in the world to start your small level-business. Around $70 billion was announced by the UAE government to stimulate the growth of small businesses. As a result, the percentage of starters in UAE is increasing rapidly. However, there’s an underlying level of confusion regarding the steps involved in business registration. And that gets me to the point of this blog; To help foreign investors like you to setup your business registration at a lower cost.Do note that important stages demand legal approvals and documents for entering into Dubai market.
Registering your business in Dubai for a small company
The first phase involves preparing your firm’s core team and each business member should obtain an Emirates Identity Card in order to become eligible for company registration in dubai. After locking down on the basics, entrepreneurs should hire a leading business consultancy company like ours for obtaining legal details of how to complete paperwork and to whom they will submit the documents.
The Dubai business sector scene is divided into two main areas, mainland, and Free Zone. Each one of them have some slightly different rules for foreign business associates; one must choose the land sensibly by ascertaining the budget and acquiring a license for a startup. After finishing the key procedures, here we shed some some light into the precise nature of the process to register your company in Dubai and side step any potential issue.
Quick Steps for Business Registration in Dubai
The following solutions are cost-effective and with the support of the right people, Entrepreneurs can get their business registered quickly without facing any trouble.
• Planning your business activity
Decide and finalize your business activity before finding clues to complete other steps. Your business activity can be linked with manufacturing or trading, which is done in Free Zone. Most of the entrepreneurs usually start with professional businesses, which can be opened in Mainland. After choosing your business plan, the next thing is to try and assemble all shareholders for creating MOA (Memorandum of Association).
Our business consultancy among other premier agencies in Dubai offer new business owners to create their company’s article of association. These documents do require some time to be fully completed, but an established consultancy company can clear the tangled path to initiate your firm’s identity in the Dubai market.
• Choose your unique Company Name
The crucial part of business registration in Dubai is the company’s trademark registration course, which must be approved to get a trading license application. The name of a fresh company must have a clean name and must not contain any blasphemous or offensive words that can permanently ban the business setup in Dubai registration progression. The consultancy team should possess full knowledge about the requirements for registering a company name and they can give a list of suggested names to save time.
• Applying for Legal Business License
The trading license is the cornerstone of this procedure because governmental departments will only allow the owner to start their business if they have a legally stamped permit. Small business entrepreneurs with limited sources can get a professional or commercial permit. The license application can be delivered to the Department of Economic Development (DED) or Dubai Chamber for attesting and entrepreneurs can receive them within days if they liaised with a consultancy company.
• Combining your Paperwork
Gathering all credentials for company registration in Dubai is a time consuming and hectic stage for entrepreneurs who are unfamiliar with the governmental system. If at this stage, you’re already linked with business consultants, they can send you company formation specialists who can guide and collect documents in order by excluding irrelevant papers for business registration in Dubai.
• Finding an office Space
A great number of enclosed office apartments in Dubai are built specifically for startups. Entrepreneurs are also provided with a Flexi desk or office for rent that can help to kickstart their business. Find an office space that suits your demands and shift your focus on the very last phase of business registration in Dubai: Your VISA application.
• Get your VISA and Bank Account
The final step to the registration process is opening a Bank account and VISA application. Our consultancy can help you get in touch with the right legal business advisors that can provide affordable packages for VISA for Dubai. Bank account will require some photocopies of business shareholders’ identity cards, passport size photos, a copy of the business permit, and six months transaction record details. When any entrepreneur upon completing these steps in Dubai, they become qualified to start their business.