Process of company setup in Dubai

Source: Company setup Dubai

Are you planning to start your own business and setup a new company in Dubai, UAE? Then it's time you know some of the amazing facts about UAE and how to setup a company in the UAE with the support and advice of best business setup consultants. 

Did you know that more than half of the businesses that setup their new company in Dubai are startups and they contribute largely, approximately 47% to the GDP of the country? Isn't it amazing that the country is open to business culture and the entrepreneurial mindset of people? It has systems and infrastructure that best facilitate business to grow and thrive in the country. That is the reason why entrepreneurs are moving to the Emirates to setup their business considering the ease of starting, executing, and growing your business. 

The UAE government also makes sure that the processes of setting up a business in easy to follow and is not a pain for existing or newbie entrepreneurs. But, one must seek the help of consultants in order to get the best advice and business setup solutions for their new venture. Only a business setup consultant can suggest different ways of incorporating your company in UAE that will be best suited and that are in tune with your business setup goals. 

Here is the breakdown of processes of company setup in Dubai

First and foremost, before setting up your business, you must decide on the activity or the business idea that you wish to start in Dubai. 

Secondly, identify under which type of license or category the business activity falls. There are mainly three types of business licenses in the UAE. They are:

• Professional license
• Industrial license
• Commercial license

Depending on your license, consultants can tell you whether you require to keep a local sponsor or local service agent for your business. 

Next, you must decide on the authority or jurisdiction you wish to start your business. That can also be three types, i.e mainland company formation, free zone company formation, or offshore company formation in the UAE. 

If you opt for a free zone, you do not have to sign up for a local sponsor, but for a mainland company, it is mandatory to have a local sponsor, yet, there are some exceptions to it which a business setup consultant can guide.

After selecting the jurisdiction to operate in you must decide on a company's legal structure. They can be a sole proprietorship, LLC, branch, subsidiary, holding company, etc.