Business Startup in Dubai – Why?
There are a variety of reasons to have a new business startup in Dubai. What are the reasons why entrepreneurs from all over the world choose a Business Startup in Dubai?
The strategic location of the UAE in the hub of the Middle East which makes it an ideal spot to conduct international trade. UAE is a collection of seven emirates each of which has its own companies and free zones. These attract foreign investors from all over the globe.
Based on the Ease of Doing Business Score released by the World Bank in 2020, Dubai was rated as a top 94.8 Based upon 10 factors and was ranked one of the top 20 most easy countries to start a new company. The “Invest Dubai” platform combines all the necessary information, data and procedure for starting your own Business Startup in Dubai. This latest initiative is another step in making Dubai the preferred destination for entrepreneurs from the world.
WBS Business Solutions team has the expertise to provide outstanding assistance to clients from 100 countries across the globe. We are proud to boast the highest rate of customer satisfaction to date and our aim to improve it is more satisfying. WBS is the perfect business partner.
Key points Of Business Startup in Dubai
Following are some key takeaways of starting a business in dubai. Hope this will convince you to open a business in dubai:
- UAE is a geographically important country for all business partners around the world.
- Invest Dubai is a platform for entrepreneurs seeking to launch a brand new company.
- The World Bank is ranking High business and industry in the UAE.
- Benefits of tax-free zone in the UAE
- The Trade free zones are useful for every business startup in dubai.
- Ease of starting businesses .
How To Open A Company In Dubai
How to start business in dubai? Follow these guidelines if you want to open a business in dubai
Initial Activity for the Business startup in dubai.
A first approval means that the UAE Government is in no way opposed to the company being established within the country. The investor is also able to move on to the next steps to set up the business. However, it does not confer the authority to conduct or carry out the business .It is a prerequisite to the issuance of a trade license by which the legal entity of the company, its business activities, and the licensing partners are established. The client can get it prior to or following the registration of the trade name.
- Applying for a commercial site lease agreement.
- Obtaining approvals from other entities related to the economic actions .
It is recommended to consult with a professional in the formation of your company before making this choice. These experts are knowledgeable about allowed activities and will be capable of suggesting activities which are most suitable for your company’s needs. So, trust WBS, the best advising company in the UAE.
Trade Names For New Companies.
It is a requirement by the customer in order to get an official government document that specifies the name of the trade project. It is also utilized in contracts and other official circumstances when companies make use of trade names to market their products or to promote items.
- The name of the trade you select will be transliterated in Arabic or English but will not be translated.
- Alphabets and numerals are acceptable however, you can’t make use of icons or other special characters.
- The trade names may contain the owner’s first and last name, but should not be the sole name, e.g. (Ahmed Al- Hariri Properties but is not Al-Hareri Properties)
- A trade name is not allowed to contain Allah’s name as well as all of its synonyms .
- Trade names can contain specific words such as Gulf abbreviations, or foreign terms considered to be a top trade name A category
- The name of the primary activity is added on top of the trade name but the trade name can’t be identical to the name of the activity
- The name of the business startup in dubai should be one of the names that do not include profane words and is not among the names that insult modesty or defy public order.
- It cannot use any names of nations, governments, capitals of countries other than with the consent of the embassy of the country.
- This trade name will be valid for the duration that is six months. If the certificate of trade name expires, the purchaser must secure the trade name in the future and pay any charges
- The company is granted the right to utilize a trade name of another company which provided it with the franchise rights in the process of submitting the franchise agreement for approval to the Department of Economic Development.
- The Department of Economic Development has the power to terminate or alter the name of the business startup in dubai if it is similar to an existing business name or does not meet the set guidelines and conditions.
- The fee for reservation of trade names is due within 72 hours after the issuance of the authorization to pay.
It is a requirement by the customer in order to obtain an official document that is approved by which he is able to begin carrying out legal business in the Emirate. In this process, the customer is able to issue an association memorandum or a service contract in accordance with the legal form already specified in the first approval.
Trade licenses are issued in a variety of forms:
The Normal License
Needs the existence of a Memorandum of Association (that can be obtained by hand or electronically) and the site lease agreement.
It’s granted in one simple step, and in just five minutes for groups of operations that do not require external approvals. There is also the option of issuing an association memorandum as well as an online site for the first year.
DED Trader License
It is a single establishment license which can be obtained by Dubai businesses that operate from home and have the name of trade. It is available through the “Invest in Dubai” platform and costs AED 1070 (license fees, knowledge and innovation charges) plus AED 300 (Dubai Chamber fees for membership).
MOA and LSA
Based on the legal structure of a company it is required to sign a completed Memorandum of Association (MoA) or an agreement between a local agent (LSA) that is signed by the company is required.
Choose A location For business startup in dubai
All companies operating in the UAE require an address for their business to function. The location and business premises must meet the standards set out by the respective emirates’ Department of Economic Development, and the regulations for land use of local municipalities.The agreement for the rental of warehouses and offices must be signed. Certain emirates require the agreement to be formally signed. In Dubai the agreement has to be signed by Ejari.
Additional Government Approvals.
In certain instances the organizations that oversee certain business operations are required. Here are some examples of the kinds of activities that are categorized according to the ministry:
Ministry of Interior.
The Ministry of Interior issues approvals for general transportation, driving schools as well as alarms, fire equipment and security systems, used car dealers automobile parts, used auto-parts and car rental.
Ministry of Justice
Legal services and legal advice
Local Municipal Department.
Engineering and architectural issues
Collect the Business license.
Once you have completed the steps above after which the investor will be able to collect the business license from the service centers of the departments of economics or via their websites.
Documents like these are necessary to obtain a license:
- Initial approval letter and all other documents previously submitted
- Copy of the lease agreement authenticated through RERA. Real Estate Regulatory Agency (RERA) in Dubai
- Affidavit of association (for all kinds of businesses)
- Approvals from the other government agencies in accordance with the requirements
- Validly attested Service agent agreement (for civil establishments and businesses that are owned 100% by non-GCC citizens) or the UAE includes an agent for local services.
One of the most important requirements for starting an enterprise is a UAE visa. The procedure to apply the visa for yourself as well as the visas of your employees is a particular one, yet simple. An expert in company formation in Dubai can assist you with this process.As the owner of an UAE license for business You can also be a sponsor for others’ visas, too. This could include a spouse or parent or even a domestic employee like a housekeeper.
The amount of visas that you can apply for will be contingent upon the scale of your business as well as the type of setup you have chosen and, in the case of dependent visas, the amount you earn personally.
Creating a Corporate Bank Account
The strict laws on money laundering make it difficult for foreign entrepreneurs to gain access to banks that are corporate. A professional in the field will result in an easier procedure.
Experts in the field of Business setup in UAE have fantastic connections to both local as well as international banks, and are able to connect you with the bank that is most suited to your requirements – and even scheduling face-to-face meetings, if needed.
If you’re looking for a company authorization to operate in Dubai, Dubai free zone visa, or even the cheapest business licenses for trade in the UAE. We can assist you.
Doing business in the United Arab Emirates is a dream for many people around the world. UAE is an amazing land for all types of businesses. Its trade free zones and pro business policies are beneficial to investors. We are always guiding our clients towards the right track, so this time again we suggest starting a business in Dubai with close collaboration of trusted business partner WBS.