5 Tips for Business Setup in Dubai: Get Your Dubai Trade Licence in No Time!– At times, it can be challenging to set up a business setup in Dubai and acquire a trade licence to legally operate it. However, the journey can be a lot easier if you know these 5 tips from experienced business setup consultants in Dubai, UAE.
Choosing the Right Jurisdiction
Consider factors that matter to your business, such as company ownership, business scalability, accessibility to ports, share capital requirement, and taxes while deciding on a business site. You also might want to take into account the pros and cons of selecting a particular zone.
Determining the Business Activities
DED approves 2000+ commercial and industrial activities that are eligible for 100% foreign ownership on mainland territory. You want to hand-pick the primary and related commercial activities that are covered by just one trade licence in Dubai.
Deciding the Legal Form of the Company
Business setup in Dubai is defined by the shareholding structure, which must be in cohesion with your business operation and preferred jurisdiction. You may select any of the following shareholding structures for your company formation in Dubai, UAE:
- Limited Liability Company
- Sole Proprietorship
- General Partnership
- Partnership in Commendams
- Public Shareholding
- Private Shareholding
- Joint Venture
- Shared Partnership
- SME Licence
- Representative Offices
- Branch Offices
- Limited Partnership
Naming the business in Dubai
The desired name of your company must be in line with the standards mentioned by the Department of Economic Development (DED). You want to associate the trade name with the licence type. It takes around three days to register a trade name. To avoid delays due to rejection, your list of proposed business titles must contain at least three unique, appropriate names. The trade name registration is valid for six months only.
Following the company registration and business licence procedures
The licencing authorities dispense the requested business licences in Dubai only after thoroughly reviewing the submitted documents. They might take 3-5 business days from the time you receive your initial approval to approve the licence if there are no discrepancies in the documentation provided. However, the duration may stretch if the intended business activity needs special approvals. Make sure you have the below-listed documents and certifications handy for Offshore Company Formation UAE efficiency without any delay.
- Licence Application
- Attested LLC agreement
- Governmental forms
- Name reservation certificate
- Initial approval certificate
- External departments approval
- Tenancy contract
- EJARI registration certificate
- Partners’ passport copies and NOC (if applicable)
- Dubai Chamber of Commerce and Industry Registration
- Endorsements from Governmental Agencies (For Gas & Oil Companies)
- UAE Central Bank Approval and License (For Financial Institutions)
- Finance and Industry Ministry Certification (For Manufacturing Companies)
- Economy and Commerce Ministry Certification (For Insurance Companies)
- Health Ministry Certification (For Medical & Pharmaceutical Firms)
Now, a Bonus (and most important) Tip… Consulting a Business Setup Advisor
The process of business setup in Dubai, without a doubt, is a time, money and energy-consuming process. And the paperwork involved is daunting if you are new to the city or the process. You want to make the most of the free consultancy provided by a host of reputed business setup advisors in Dubai. If their offerings and fees sound good to you, there is no better way to incorporate a company in Dubai or obtain a trade licence effortlessly and cost-effectively than working with a seasoned business formation expert. Not only they will help you make the right choices every step of the way but also save you from all the spadework including gathering various approvals from relevant authorities. A little service fee for expert business setup services in Dubai today can save you from huge jeopardies in the future. You may thank us later!