How Can I Set Up a Company in Dubai?
Set Up a Company
Dubai has long attracted envious glances from entrepreneurs around the world, and it’s easy to see why: it’s a great place to do business, with a well-established infrastructure for trade, a wide range of industries that are open to foreign investment and a tax regime that puts it near the top of global rankings for ease of doing business. This means that the city is an increasingly attractive option for new business owners, and this guide will show you how to set up a company in Dubai.
You’ll find that the process of company set up in Dubai can vary depending on what type of business you want to establish and where in the UAE you would like to operate. This is because you can choose to register a business in mainland Dubai, or in one of the city’s free zones – and the steps involved will vary slightly depending on which option you go for.
The first step in establishing your business is to decide what kind of entity you would like to register. There are more than 2,000 different business activities that are permitted by the Department of Economic Development (DED) in Dubai, so you’ll have plenty of choice when it comes to finding your perfect fit.
How Can I Set Up a Company in Dubai?
Once you’ve selected your desired activity, you will need to submit a draft of your Memorandum of Association (MoA) to DED for approval. You should ensure that your MoA is drafted by an expert, as it will need to comply with the UAE’s legal requirements and should take into account your specific business objectives.
You will also need to submit a copy of your passport and proof of address to DED along with your application. In addition, you will need to submit a specimen signature form signed in the presence of a DED Member Service Executive or notarized in your home country. You will also need to pay a registration fee, which will be calculated by DED based on your previously submitted documents.
Once your MoA has been approved, you will receive an initial approval letter from DED that will allow you to move on with the rest of the process. This initial approval does not necessarily mean that your business will be granted a license to operate in the UAE, but it does indicate that you are on the right track and can proceed with forming your business.
Depending on the kind of business you are looking to establish, you may be required to obtain additional licensing and permits from other government and non-government agencies. This can include a commercial license, a financial services permit and other specialized licenses.
When selecting a name for your business, you must keep in mind that it cannot contain offensive or blasphemous language, or any reference to Allah or Islam. You can use an online tool provided by DED to help you with this, or ask a company formation specialist to make suggestions and check that your chosen name is available for registration.