Dubai’s GDP has witnessed a growth of 4.6% YoY in the first nine months of 2022, it’s a massive economic growth in the last couple of years. Known as the land of opportunities, Dubai has demonstrated how innovation and foresight can pave the path toward a better and brighter future. As a significant player in the global market, Dubai is well-positioned to lead the world’s digital future.
Therefore, it isn’t a surprise when investors and entrepreneurs from around the world are looking at Dubai as a viable possibility to set up a business or expand their existing one. That being said, it’s not as easy as it seems to register a company in Dubai for somebody who isn’t well-versed with the rules and regulations.
Several steps must be taken for setting up a new business in Dubai, and not knowing them would not only delay the process but also leave you with non-compliance penalties. Fortunately, you can avoid these problems by utilising our corporate services for new company formation in Dubai.
As industry leaders, our consultants provide expert guidance and assistance for business setup in Dubai. From legal formalities to setting up corporate bank accounts, we offer a comprehensive solution to clients who want to register a company in Dubai.
What are the Steps for a New Business Setup Company in Dubai?
Dubai is an excellent location to start a business or expand an existing one, but you need to follow a couple of elaborate steps to make it happen.
Here’s a glimpse of the steps involved in new company formation in Dubai –
#1 – Deciding Your Business Activity –
Your first step is to select a profitable business activity in Dubai. The Department of Economic Development lists thousands of approved business activities in Dubai. From agriculture to trading to manufacturing, you can go through them all to pick one that suits you the best.
#2 – Choosing a Strategic Location –
When you have a suitable business activity, the next step for a new business setup company in Dubai will involve looking for a convenient location to set up an office. You have to take several aspects into consideration before you can pick the ideal location, and this is where the guidance of our consultants will be exceptionally valuable to you.
#3 – Picking a Suitable Name –
The laws of Dubai are fixed regarding picking a company name.
It can be challenging to come up with a proper company name. However, our experts on business setup in Dubai can help you through shortlisting and picking out an ideal company name, thereby saving you time and effort.
#4 – Obtaining Your License –
When you have a proper company name, you must secure a license. The type of license will depend on the needs of your company. Our best business setup consultants in Dubai can help you with obtaining your license. Typically, it could require the following paperwork –
• License application form signed by the relevant authority
• Address proof
• Business plan
• Personal data sheet of shareholders
• Certificate of incorporation
• Passport copy with specimen signatures of shareholders, managers, and directors
• Details of the existing company (in case of business expansion)
#5 – Opening a Bank Account –
When you have obtained your license for a new business setup company in Dubai, the next step would require you to open a corporate bank account on behalf of your company. You need to approach a reputable bank as per your business needs, whether an international or local bank.
#6 – Applying for Visa –
The process of obtaining a Dubai visa is well-structured, from visa application submission to visa permit issuance. You could apply for multiple visas, including family, domestic helpers, and employees. You can expect TASC’s best business setup consultants in Dubai to assist you with your visa processing.
Where to Register Company in Dubai?
When planning to register company in Dubai, you can either set up a base on the mainland or a freezone. It is a critical decision you have to make based on your needs, mainly because the mainland and freezones have different rules and regulations.
You must make your decision based on whether you –
• Want 100% ownership of your company
• Can avail tax benefits
• Find a location that is economical and convenient
• Think the location meets your strategic goals
Perks of setting up a mainland business –
• You can trade freely throughout Dubai and the UAE
• You can trade globally and grow your presence worldwide
• You can expand your team and business
• You can expand your product line
• You can work with the governments of the GCC and the UAE
Perks of setting up a Freezone business –
• You will have 100% foreign ownership
• You will get 100% repatriation of capital ad profits
• You’ll be exempt from personal and corporate tax
• You’ll be exempt from import and export tariffs
Why Choose Us for New Company Formation in Dubai?
With the best business setup consultants in Dubai working at TASC, we would take a customised approach to take the necessary steps required to form your company. You can expect us to see through everything, right from the beginning till the end.
When you choose us for a new business setup company in Dubai, our highly skilled team of experts will help you with –
• Business incorporation and registration
• Local sponsorship
• Approval from municipal and health authorities
• Administrative, trade license, and visa management
• Accounting, staffing, and legal assistance
The process of starting a business is not easy and straightforward, which is why you need assistance & local knowledge from experts. With the right people by your side, you can seamlessly navigate the bureaucracy around new company formation in Dubai and get things done on time.
Having extensive knowledge of the changing laws and years of experience to our advantage, our business consultants are the right people who can guide and support you throughout the entire process of business setup in Dubai.
If you want to register company in Dubai and want to find out whether we’d be a good fit, get in touch with us today!