If you are a Foreign National or an
Investor and want to know the legal procedure for starting a Company in Dubai
as per the UAE Authority, then you can follow the article to know every aspect
of the concerned legal procedure.
How to set up a Company in Dubai?
Every Company Registration aspirant,
and a native of India, the US, or Canada, must conform to the following
procedure detailed in the enlisted steps. Let us look at them one by one.
Choosing
the right Business Structure for your proposed Company
The Company registration aspirant
must decide the appropriate corporate structure for itself. He can adopt any of
the following legal structures as per the UAE Laws:
- Limited Liability Companies (LLCs)
- Branch Offices
- Joint Stock Companies (JSCs)
- Free Zone Companies (FZCs)
- Trade Representative Offices (TROs)
Some of the factors on which
selecting a suitable business structure depends are the following:
- Shareholders Capacity
- To-be- undertaken Commercial Activities
- Capital Requirements as per the UAE Laws
Choosing
a unique Business Name for the proposed Company
The next step for CompanyRegistration in Dubai is reserving a business name under which the proposed
Company will undertake its activities. Firstly, the applicant must confirm the
name's availability with the Department of Economic Affairs of the UAE
Corporate Authority.
For Free Zone areas, the concerned
Free Zone Authority must be consulted by the applicant. He must ensure that the
chosen name is in accordance with the relevant jurisdictional law. Other
registered companies must not take the same name.
UAE
Guidelines for naming your Company
The chosen name for the Company must
not do any of the following:
- Violate the public morale or disturb the peace within a
society, community, or nation
- Per the Legal Form of the Company
- Previously registered with the UAE's RoC
- In accordance with the activities undertaken by the
applicant
- The chosen name must not title any of the following:
- Religion/Faith/Cult
- Administrative Authorities
- External Body Logos
- Result in controversies or is derogatory or insulting
to someone
- Non-reflective to the person's name but their nickname
if they choose the entrepreneur's name as the Company's title
Applying
for the Company's License with the UAE Authority
After name reservation, the aspirant
must apply for the Company License per the activities he wishes to undertake in
the City. The Company License is a legal permit authorizing its holders to
conduct their business operations as per its licensing certificate.
Types
of Company Licenses
The UAE's Registrar of Companies
issues the following Company Licenses for business registration in Dubai:
- Commercial Business License is issued to entities wishing to engage in
commodity/service trading within the Gulf City
- Industrial Business License is issued to entities wishing to engage in the
activities of production/industrial operations
- Professional Business License is issued to entities wishing to offer professional
services, such as technicians or artisans
Registering
the Official Premises for the Company in Dubai
In Dubai, your office location can
be a game-changer for your business growth. Therefore, you must choose your
office space strategically. The applicant can buy or lease the office space
from the landowner. In Dubai, you can select an office space depending on the
following factors:
- Commercial Activity undertaken
- Employee Strength
- Budget for purchasing/renting Office Space
Different Free Zones of Dubai offer
sizes of office locations ranging from 20-30 sq. to 2000 sq. m. It can also go
beyond. So, according to his requirements, the applicant must take his pick.
Obtaining
the Business Licenses to run the Company
The jurisdictional laws govern the
new Companies at a designated place. Accordingly, the new incorporations must
apply with the appropriate documents to obtain the required licenses and
permits from the concerned Dubain Authorities, like:
- Business Pre-Approvals
- Corporate Registrations
- Appropriate Licenses
The required documentation for
business permit registration depends on the following:
- Business Activities
- Office Location
- Internal Structure of the Company
- Corporate Bank Account for the registered Company
Once the required approvals have
been obtained, the new incorporation must register for and maintain a Corporate
Bank Account. The Account must be in its reserved tradename. It will be further
used for receiving/sending funds in furtherance of the new Company's affairs.
For more on Company Registration, connect with the Incorporation Experts at Registrationwala.
Also read: Company Registration in Canada: Why must you opt for it?
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