Steps to establish a company in Dubai

Establishing a company in Dubai, as Dubai is distinguished by its strategic location, which makes it the focus of all investors, as Dubai has become a major center managed by many companies, and all the factors leading to the success of this business are available through the distinguished air, land, or sea transportation network. It connects it to all countries of the world, and the United Arab Emirates is generally distinguished by its dependence on oil in its economy, which made it one of the richest countries. Oil was a certain place among countries, and caused many investors to resort to it to invest their money in it. Since then, there are many services. The features that contribute to the success of the project or investment, but there are many procedures that must be completed before starting the project. It is necessary to create a company for this project as its headquarters. In this article, it will help you learn the steps to establish a company in Dubai .

Establishing a company in Dubai

Establishing a company in Dubai

Establishing a company in Dubai , there are some legal conditions and requirements that must be adhered to. Please note that this information is based on general practices and you should seek specific legal advice according to your individual situation. Establishing a company in Dubai requires compliance with several steps and legal requirements. First, you must determine the appropriate company type and create a unique name for the company. After that, an application must be submitted to obtain a company license from the Department of Economic Development in Dubai or the competent authority.

Documents such as contracts, agencies, details of partners or shareholders and required financial accounts must be submitted. Residence and work visas may also be required for shareholders and employees. The company must also comply with tax legislation and labor laws in Dubai. It is recommended to cooperate with a legal advisor or a local company incorporation firm to ensure full compliance with the legal requirements and administrative procedures for successfully establishing a company in Dubai.

Steps to establish a company in Dubai

Establishing a company in Dubai is a strategic and exciting investment step. Dubai features a thriving economic environment, supportive government and sophisticated legal structure, making it an ideal business destination. Here we present to you the steps to establish a company in Dubai in a detailed and practical way.

1. Research and Planning: Establishing a company in Dubai begins with research and planning. Study the job market, competition, and opportunities in the sector you want to invest in. Determine the type of company you want to create, whether it is a local company or a free company in one of the free zones.
2. Obtain a company license: After planning, obtain a company license from the competent authorities in Dubai. You will need to specify the type of company, whether it is a sole proprietorship, limited liability company, or joint stock company. You may also need to choose a company name, register it, and submit the required documents.
3. Find a local partner: In some cases, you may need a local partner (sponsor) to establish your company in Dubai. The local partner acts as a link between you and the government and helps with licensing and registration procedures. You can obtain a legal advisor to help you choose a local partner and prepare appropriate contracts.
4. Company formation and registration: After obtaining the license and reaching an agreement with the local partner (if necessary), you can establish your own company in Dubai. Submit the required documents, pay the fees related to the registration process, and obtain the final license to conduct business.
5. Other Considerations: After establishing the company, ensure compliance with local laws and regulations in Dubai. Register the company with tax authorities and financial institutions if necessary. Open a company bank account and obtain a value added tax (VAT) identification number if the company is subject to the tax. Also register and insure employees and adhere to labor regulations.

You should be aware that these steps are a general template and detailed requirements may vary depending on the type of company and sector in which you operate. It is best to consult Itqan’s experts and consultants for personalized advice and precise guidance based on your individual case and specific requirements. By complying with local procedures and respecting laws, you can build a successful and sustainable business in Dubai.

Determine the activity and commercial name of your company in Dubai

When establishing a company in Dubai, one of the steps to establishing a company in Dubai is to determine the company’s activity and choose a trade name that reflects the nature of the company’s work. Below are steps to determine the activity and trade name of your company in Dubai:

• Market Study: Conduct an extensive study of the labor market in Dubai and analyze the opportunities available in the sector in which you wish to invest. Research current needs and requirements in the market and check potential competition. This study will help you determine the activity you want to practice.
• Determine the activity: Based on the study you have done, determine the main activity of your company in Dubai. The activity can be in the field of production, trade, services, consulting, technology, hospitality, construction, real estate, medicine, tourism, transportation, or any other activity. Ensure that the activity you select is compliant with local laws and legislation in Dubai.
• Choosing a business name: After determining the activity, select the business name that will reflect the nature of your company’s work. The business name should be distinctive, attractive and easy to understand. You can consult a legal advisor or incorporation company for assistance in choosing the appropriate business name and ensuring it complies with local laws and regulations.
• Check the availability of the business name: Before establishing the company, check the availability of the business name you have chosen. You must check the database of companies registered in Dubai to ensure that the trade name is not already in use by another company. You can do this through the relevant authorities in Dubai such as the Department of Economic Development.
• Trade name registration: After verifying the availability of the trade name, register it for your company in Dubai. This requires submitting the registration application and required documents to the relevant authorities. There may be fees associated with this process, and you should check the specific requirements for registration in Dubai and follow the required procedures.

The cost of establishing a company in Dubai

The cost of establishing a company in Dubai varies based on several factors, including the type of company, its activity, its location, and the amount of capital needed. This cost includes:

• Company registration fees: These fees vary based on the type of company and the size of capital.
• Legal consultation costs : You may need legal advice to assist you in the incorporation process.
• Management consulting fees: If you require assistance with planning and preparing documents.
• Government services fees: Includes fees for licenses and licenses required from government agencies.
• Advertising and marketing costs: to promote the new company and increase awareness of it.
• Document preparation costs: These include the costs of preparing contracts and other legal documents.

Types of companies that can be established in Dubai

Several types of companies can be established in Dubai, according to UAE commercial law and Dubai legislation. Here are some common types of companies that can be established in Dubai:

• Limited Liability Company (LLC): LLC is a common company type in Dubai, as it usually consists of partners who have limited liability for the debts and financial obligations of the company. There must be a local Emirati partner who owns a share of no less than 51% of the capital.
• Joint Stock Company: A joint stock company allows holding capital that is divided into shares owned by shareholders. There must be local shareholders holding a stake of at least 51% of the capital.
• Public Joint Stock Company: A public joint stock company is a form of company that allows the general public to purchase its shares through the financial market.
• General Partnership Company: It consists of partners who have unlimited liability for the debts and financial obligations of the company. Profits and losses are divided between the partners according to the agreement reached.
• Limited Partnership Company: A limited partnership company is a form of company that combines the features of a joint-stock company and a general partnership company. Partners have limited liability for debts and financial obligations.

These are some of the common types of companies in Dubai, and it is important to note that there are specific requirements and conditions for setting up a company in Dubai. It is recommended to consult with Itqan Company to provide appropriate advice and help you choose the right type for your company and establish it in compliance with the laws and government regulations in Dubai.

Tips for the success of establishing a company in Dubai

Here are some tips that can help you successfully establish a company in Dubai:

1. Market study and research: Study the local market and understand its needs and requirements. Identify the opportunities and challenges you may face in your field of work and develop an effective competitive strategy.
2. Get legal advice: Hire a local legal advisor who specializes in business and corporate laws in Dubai. The consultant will help you understand the legal requirements, regulations and procedures necessary to establish a company.
3. Check the financial conditions: Make sure that sufficient funding is available to establish and operate the company. Prepare a sustainable financing plan and study the company’s financial needs in the short and medium term.
4. Find a local partner: If you are planning to set up a limited liability company or joint stock company in Dubai, you may need a local partner who owns a certain stake in the company. Look for a reliable partner who understands local laws and culture.
5. Network Building: Build a strong network in Dubai and the UAE. Participate in events, trade shows, and get involved in the local business community. Provide added value and benefit from opportunities for cooperation and partnership.
6. Marketing and Promotion: Develop a strong marketing strategy to attract customers and increase awareness of your company. Use social media, digital marketing and direct communication with potential customers.
7. Commitment to transparency and responsibility: Be sure to be transparent in your business and comply with local laws and regulations. Run the company in a responsible and ethical manner.
8. Continue to learn and develop: Be willing to continue to learn and develop your leadership and business skills. Stay abreast of changes in the market and innovate to meet customer needs.

Establishing a company in Dubai requires good planning and adherence to specific legal requirements and administrative procedures. By using these tips, you can increase your chances of successfully setting up a company in Dubai.

Itqan Company services for establishing a company in Dubai

Itqan Company provides comprehensive services for establishing a company in Dubai, including:

1. Business Consulting: Providing specialized consultations to help you choose the appropriate type of company, determine its structure, and provide the necessary advice for the success of your business.
2. Company Registration: Help you prepare and submit all necessary documents for company registration, including company incorporation, work permits, etc.
3. Arranging licenses and permits: Following up and arranging the necessary licenses and permits to establish the company and start commercial work.
4. Assistance in opening a bank account: Helping you open a bank account for the company to facilitate financial operations.
5. Tax guidance: Providing tax advice and assistance in understanding a company’s tax liabilities.
6. Legal consulting services: Providing the necessary legal support regarding all legal aspects of establishing the company.
7. Post-incorporation services: Providing ongoing support and advice after the company is established to ensure its continued success.
8. Providing financial solutions: Providing financial solutions appropriate to your company’s requirements, including payroll management, accounting, and financial reporting.

In conclusion, establishing a company in Dubai is a bold and exciting investment step, but it requires planning and specialized advice. In this article, we explored the opportunities of setting up a company in Dubai in collaboration with Itqan, which is the ideal partner to achieve success in this wonderful mission.

Itqan Company is a leading consulting company in the field of business establishment and development in Dubai. The company is distinguished by its extensive experience and deep knowledge of the business market in Dubai, and provides comprehensive services that help investors achieve their success.

Frequently asked questions about establishing a company in Dubai