Company Registration and Incorporation Service in Dubai: A Step-By-Step Guideby Tony Wilson Employee at Acuvat
Dubai is one of the ideal places for upcoming entrepreneurs to set up their business. It is a boon for foreign investors who are involved in import and export activities. So, if you are one of those entrepreneurs who are desperately willing to start a business in Dubai, then you should know the company registration and incorporation process. Moreover, you can also ease up your work by availing company registration and incorporation service in Dubai.
Steps Involved in Company Incorporation Service in Dubai:
Regardless of the nature of the business, you need to go through the following steps:
Step 1: Identify the Nature of Your Business
At the initial stage, you should identify the type of business you want to set up. Then only you will realize the type of license you should apply for. Moreover, you will require further approvals from various government departments for conducting specialized activities like jewelry, legal, veterinary, consultancy, etc. The regulations for company registration and incorporation vary from one free zone to another in Dubai.
Step 2: Ownership and Legal Structure of Your Entity
Decide whether you want to establish a sole proprietorship or partnership form of business. Both the form of ownership enjoy certain privileges and thus, you can choose the one that seems more profitable for your entity. After finalizing the ownership, check out the legal restrictions before choosing a particular free zone in Dubai.
Step 3: Choose Your Company Name
Choose such a name that highlights the nature of your business along with its vision and mission. Try not to include any offensive languages, religion, or political parties in your company name. You can use a person’s name only when he is a part of your company. Use the full name as an abbreviation is not preferable for a company name in Dubai.
Step 4: Share Capital
Follow the minimum amount of capital specified by UAE to decide upon your company’s capital structure. Make a note to mention the share capital in the Memorandum of Association prepared for your company.
Step 5: Finalize All Paperwork
After selecting the ownership, legal structure, company name, and share capital, you need to submit them in application to the Department of Economic Development. Also, submit the necessary documents for approving the stated elements.
Step 6: Choose Company Premises
Analyze the cost and related factors to shortlist the name of premises for your company. Make a comparative analysis and choose the premise that seems to be the best one in every aspect. Proximity to the airport or port is the basic deciding factor for selecting a premise for imports and exports services.
Step 7: Receive the License Notification
The UAE government scrutinizes your application and issues the registration license if everything is correct. Then, you will get the license for incorporation and commencement of your business.
Step 8: Open a Bank Account
You can personally approach a nearby bank for opening the bank account or hiring an agent for the same. Submit the documents necessary for opening a bank account and apply for Visa if you and your business partners stay out of Dubai.
If you have carefully gone through the above steps, then it would be easier for you to register and incorporate your company in Dubai. In fact, you won’t have to approach a company registration or company incorporation service in Dubai.
Created on Jul 10th 2019 05:05. Viewed 284 times.