Wednesday 16 December 2015

How To Set Up A Business In Dubai?


Planning for a business setup in Dubai? Here is all the necessary information to get started.

Choose your business category
Your first step is to choose a business category from 2,000 business categories in Dubai as per DED- Department for Economic Development. In case your business does not categorize into any of the existing options, you can contact the DED. They will assign a business category post understanding your request.

Choose your legal form
Post selection of business category, you need to select your company legal form from different options like LLC (Limited Liability Company) or PSC (Private Shareholding Company). This will depend on your selected business activity and category.

Choose your trade name
Get your trade name online from DED website or through local law firms that’ll guide you with the process. Note that trade name feature Gulf or European requires a fee ranging from Dhs1, 000 to Dhs2, 000.

Prepare Your MOA & select business location
Depending on the legal form of your company, you and your business partners may need to draft and sign a Memorandum of Association (MOA). After that you need to finalize your business location after confirming the property’s availability and sustenance conditions from the Dubai Municipality Planning section. If you choose a an authorized business center, you won’t need to get location-related approvals from Dubai Municipality.

Conclusion-

Post completion of the above steps, submit the following documents to the DED to get your business license for business setup in Dubai-

· Initial Approval Certificate and form
· Trade Name Certificate
· Ejari registered Tenancy Contract
· Authorized approvals on your chosen business activity from
· MOA or copy of MOA, attested by UAE Ministry of Foreign Affairs, if required
· Local Service Agent agreement if required