Steps to start a company in Dubai

 What is the best time for a UAE company to be started? The answer is always! Aspiring entrepreneurs have always found Dubai a safe haven. Many business ideas have been nurtured and prospered by the emirates, which continues to provide a safe harbour for industrial services. Dubai's economics have fought a brave fight through the difficult times of pandemics and have done a great job in surviving the financial apocalypse.

If you are wondering if it is worth starting a business here, the answer is yes.

Dubai's impressive rise in budding entrepreneurs over the past decade has drawn businessmen from all parts of the globe to invest here. Dubai's legal and administrative framework makes it easy to set up a company. If you're familiar with the basics of company formation and company registration in Dubai, it is easy and straightforward. You can easily launch your business in Dubai with the help of business setup services.

Here are the steps for opening a new business in Dubai.

1. Select your business activity

The first step in company formation in Dubai is choosing the right business activity. Selecting your industry and venture is the first step. What type of business do you envision? Are you doing enough research on the UAE market feasibility? Is it viable? Are you using a well-known business idea or a new one? Before you can decide the type of business venture for your company, it is important to answer these questions.

2. Select your jurisdiction

You must first choose your jurisdiction to set up a company in UAE. Any of the four jurisdictions is open to you. Ie, offshore, free zone, and mainland. Each jurisdiction has its own regulations and rules for entrepreneurship. Foreign investors prefer free zones due to the many benefits they provide. The nature of your business activities in Dubai will determine the type of jurisdiction that you choose.

3. Create your company structure

Before you can proceed to the next steps, you must finalize your legal form. It is crucial to establish your company structure, as well as the nature and allocation of your resources. It is essential to create a business structure or company structure in order to plan your business. Once you have established the legal structure of your company, you can apply for a business licence. Your UAE company can be registered under limited liability company (LLC), solo enterprise, GCC Company or foreign company branch, civil company, local, or holding company.

4. Get approval

A company registration in Dubai requires approval from relevant sources. The concerned authorities must approve your company registration. In the case of Dubai it is the Department of Economic Development. DED must approve your company name, trade name, and business activity. You can only request a trade licence after your company name, trade name and business activity have been approved by DED.

5. Trade licence

Next, you will need to apply for a trade licence. A trade license can be applied for in any form you choose, depending on your business activity. If you're setting up a company on the mainland, you can choose one of these license types. Trade licenses in Dubai are granted under a slightly different system.

6. Registration and licensing

Once you have received the trade license, your company can be officially registered. To proceed, you will need to submit all required documents and obtain all approvals from the authorities. For company registration in Dubai, you will need to rely on the expertise of a business setup service. UBL Business Setup has assisted many entrepreneurs with setting up their Dubai company.

7. Locating a Sponsor

Foreign investors in Dubai require a local partner who holds at least half of the shares of a company. Finding a partner or sponsor can be difficult if you're new to Dubai's business environment. UBL business set-up can help you quickly find a reliable business sponsor. So that you don’t have to worry about finding one, our business consultants will connect you with reliable sponsors. Sponsorship can be found in many companies so that you get the full ownership.

8. Office space for rent

Whatever type of business you are involved with, you will require an office space to run your business. Your office space can also play a part in processing your DED visa. Our consultants will help you find the right office space for your business. We can help you select from a variety of affordable workspaces that will allow your business to run efficiently.

9. Submission of documents

Once you have submitted all required documents, your trade license can be obtained. For new entrepreneurs, document submission can be cumbersome. It is better to let your business consultant handle all your documentation needs. There is a lot of paperwork involved in starting a business here, which can be confusing. A business consultant with experience will be able to help the owner of the business deal with all this paperwork without creating unnecessary complications.

There is no better time to start a business in Dubai. This is the right time to launch your dream UAE business. With the help of business consultants, you don't have to worry about company registration. If you require assistance with your Dubai company setup, contact UBL business set-up. As a result, we have helped many new entrepreneurs start their dream businesses in Dubai.