8 Basic Steps to Set Up a Business in Dubai

Starting a business in Dubai will not take more than a week. Before you start a business in Dubai you should know some essential information.

Type of business

Regardless of whether you have a commercial, professional, or industrial license, the type of license you need for your business defines your job baseline. However, remember that some business activities, such as food business, jewelry trading, veterinary activities, and legal advisers, require more approval from other government departments during the selection process.

Ownership

If you want to own 100% ownership of a company as a foreign company, you must place a license in many free areas of the UAE. Each free zone has a definite type of activity that must be followed at the first stage and helps to find the best option for clarity. The UAE has no choice, as there are more than 45 free zones in different categories of operating zones.

If you need a local license or need to work locally, you must obtain a license from the Department of Economic Development (DED). Based on DD's separate legal framework, DD licenses have some restrictions on ownership interests in foreigners.

legal aid

Depending on your location and industry, you may only be able to perform as a company's branch office or a single company if your company has established rules, such as planning a legal advisory company. Single owners cannot do this activity. Each free zone has its own limitations regarding the structure of the company and can be found on the official website of the region.

Brand name

Business names are a very important part of the legal process. If the company name is not a branch office of another company, it is ideal to represent the essence of the business. All regulations regarding the trade name D.D. You can see it on the official website.

Share capital

The minimum capital is usually stated in the company's memorandum of understanding that you propose. In most cases, you will not need to pay a minimum amount of money during setup.

Premises

After you have prepared legal procedures and forms, it is best to list some office costs and other details. That is, once legal action is taken, a clear path is taken. The Free Zone helps you find electricity, the Internet, water and other facilities and finds the right venue for your needs.

Employees

In most legal forms of the DED, you need to hire a manager to oversee operations and have him ready to be on board before your registration is approved. But in other cases, you may not be allowed to hire at all. For example, Intelex license holders (license for home-based Emirati business owners) are not allowed to hire staff, but can engage contractors. Details can be seen here. For free zones, each zone has its own specific regulations regarding the structure of business.

Local support

For DED licenses, it is mandatory to have a local agent, partner or sponsor and this is a great support for foreign nationals. For free zones, having a local contact can help take the business forward effectively. However, this is not mandatory and Dubai as a business destination boasts easy set-up for all businessmen regardless of nationality.

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