Several advantages are now available to Indian entrepreneurs as well as new-age investors who want to setup business in the UAE. Now, for mainland company establishment, you don’t require a UAE local shareholding partner. Also, the government is proactively implementing several business-friendly measures.
Connect with expert business setup consultants from Make My Firm to assist with the procedure of company setup in Dubai, UAE. We provide cost-effective business formation options without sacrificing the quality of our services.
Steps Involved In Company Registration In The UAE
- Deciding On The Business Activities And Structure
You can determine the business model of your company by its day-to-day activities. Particular activities also require specific permissions and approvals. You must identify these activities and append them to the appropriate authorities.
If you are looking forward to establishing a company in a specialized economic business zone, then you should go for a free zone business setup. On the other hand, if you wish to mainland business setup, you can register as a sole proprietor or an LLC.
- Choosing A Trade Name
The registration of a trading name is another critical step in forming a company. Remember that your company’s name enhances your company’s prominence in the market. Therefore, such trade names must be chosen that identify your business venture’s nature.
In addition, you need to fulfill the trade name reservation laws. Do take care to refrain from using obscene names and phrases that disturb people’s religious sentiments. Adhere to the prescribed regulations relating to serving a company’s name.
- Select an Ideal Business Location
A lot depends on where your business is located. Furthermore, exposure to different markets, available resources, infrastructure, tax legislation, and other factors varies from one place to the next. Make My Firm’s business setup highlights the benefits and drawbacks of all the business zones suitable for forming a business in the UAE.
We offer complete business support and can aid you in making informed decisions. Once you get the Ejari or tenancy contract, you can easily secure an office space at your desired business location. - Create the MoA and the LSA
To establish a business on the mainland, you must cooperate with a credible local sponsor and execute the LSA (Local Sponsor Agreement). Furthermore, now on the mainland, there is no longer requirement for a businesses to give a UAE national 51 percent ownership of the company.
You can also operate with Make My Firm, and we’ll take care of the paperwork. As a result, you’ll have total operational and legal authority over your company. Then, on the basis of the structure of your company as well as the business plan, you must draft and sign the MoA (Memorandum of Association). - Obtain a Business License
Once you have adhered to all the steps up to now, the next step involves obtaining a business license. If you are establishing a mainland company, then you need to submit the application for a business license to the DED. Free zone companies, on the other hand, have to make an application to their respective authorities. In addition, if necessary, you must get external permission from other regulatory authorities. - Open A Corporate Bank Account
The next step involves opening a corporate bank account for your company. So, pick a bank that best fulfills your company’s needs and offers considerable perks and concessions that can help you save money.
How much does it cost to register a company in the UAE?
The UAE’s business registration costs are not one-size-fits-all. This is due to the fact that a variety of different factors play an important role in determination of the cost of business registration. These factors include the type of license, location of the company, size of the office, visa requirements, and much more.
When working with Make My Firm, Indian businesses can form a company in the UAE in the most cost-effective manner. At extremely low fees, we can walk you through the business registration procedure step-by-step. Our company registration experts also provide post-incorporation legal support.
Documents Requirement
- Passport size photo of the business registration applicant
- Application Form
- Copies of the passports of all the lawful participants for the purpose of verification
- Local sponsor’s Emirati ID or the copy of the Local Sponsor Agreement
- Notarized and attested MoA and LSA paperwork
- The company registration applicant’s tourist visa
- Ejari or tenancy contract
- External approvals (if applicable)
Advantages of Starting a Business in the UAE
- Low taxation
Because of the low taxation policies in the UAE, you can efficiently operate your business without spending much on taxes. Additionally, the UAE’s VAT rates are one of the lowest globally. - Investment Safety
The UAE government’s laws are just, impartial, and supportive to new-generation investors. Moreover, there are no additional surcharges or levies. As a result, you can establish your business in the UAE with confidence.
- Rise In Population
Because of its rising population and highly dynamic economy, the UAE is a magnet for new entrepreneurs. Additionally, Indians, as well as other foreign investors, keep finding a place in the UAE for their businesses. As a result, your company wouldn’t ever run out of customers. - Visa Management Without Hassles
You can easily get visas for company shareholders, workers, family members, and so forth. For that, you just have to submit an application to the appropriate government authority. Furthermore, the regulations for extra visas are well-defined. You just have to adhere to a simple legal process.
Setup Your Company in the UAE!
In the past few years, the United Arab Emirates has emerged as a new investment haven. Global businesses are increasingly showing interest in establishing a strong foothold there. It is because of the forward-thinking governments’ economic reforms. So, your decision to register your business in the UAE is correct.
Make My Firm can assist you in locating the ideal area for launching your dream business in the UAE, as well as help you with the necessary paperwork.
Our team of professional business consultants has so far helped numerous businesses succeed. To establish a new business in the UAE, contact us today!
