In the last decade, the UAE has witnessed rapid economic growth, making it one of the most attractive destinations for investors from around the world, including Saudi investors. With its evolving business environment and legal flexibility, the UAE is home to startups and global enterprises alike. Opening a commercial register in the UAE is a vital step for Saudi investors who want to exploit the available economic opportunities and achieve success in the thriving Middle East market. In this article, we will explore the many important aspects of opening a commercial registration in the UAE for Saudis, with a particular focus on Itqan’s role as a trusted partner in providing support and assistance during this vital process. By understanding the challenges and opportunities available, Saudi investors can make the most of the dynamic business environment in the UAE and build sustainable and prosperous projects.
Opening a commercial register in the Emirates for Saudis
Opening a commercial register in the Emirates for Saudis represents a strategic step towards taking advantage of the economic opportunities available in this country, which enjoys a developed commercial environment and legal flexibility. The UAE offers many opportunities for Saudi investors to establish a company and expand business in a diverse and thriving market. Here are basic steps to open a commercial register in the UAE:
- Choosing the appropriate type of company: Before starting the process of opening the commercial register, the Saudi investor must determine the appropriate type of company he wishes to establish, whether it is an individual company, a joint stock company, or a limited liability company.
- Determine the commercial activity: The investor must determine the type of commercial activity he wishes to practice, and ensure that it complies with the local laws and regulations in the Emirates.
- Identify a local partner: Under UAE laws, a Saudi investor must appoint an Emirati national partner who owns a certain percentage in the company, except in cases where 100% foreign ownership is permitted.
- Determine the location and headquarters: The investor must determine the location of the company’s headquarters in the Emirates and secure the necessary lease contract.
- Submitting documents and information: After completing the previous steps, the investor must submit a set of documents and documents required to the local authorities, such as a passport, articles of incorporation, and the necessary authorizations.
With Itqan Company as a reliable partner, Saudi investors can receive support and assistance during all stages of the process of opening a commercial register in the Emirates, ensuring ease and smoothness of the process and achieving business success.
Opening a commercial register
Types of commercial registration in the Emirates for Saudis
| Type of commercial registration | the description |
|---|---|
| Individual commercial register | It is owned by one person and that person is fully responsible for all obligations and debts related to the business. |
| Limited Liability Company (LLC) | It consists of partners who own shares in the company and have limited liability for debts and losses depending on the size of their share. |
| Shareholding company | Shareholders in this type of company own shares and are liable for debts and losses depending on the value of the shares they own. |
| Subsidiary | Be part of a parent company and act under its direction, retain certain rights and be independently financially and legally responsible. |
| Company | It represents a branch of a parent company in another country, operates under the control of the parent company and is subject to the country’s local laws and regulations. |
These are some of the types of commercial registration in the UAE that Saudi investors can look at when they are considering opening a commercial registration in the UAE.
Basic steps to open a commercial register as a Saudi
Opening a commercial register in the Emirates is a strategic step for Saudi investors who seek to benefit from the economic opportunities available in this country, which enjoys a developed commercial environment and legal flexibility.
- Choosing the type of company: First of all, determine the type of company you want to establish, whether it is a sole proprietorship, limited liability company, or other.
- Determine the business activity: Determine the business activity you wish to practice in the Emirates, and ensure that it is compatible with local laws and regulations.
- Identifying the local partner: Normally, the foreign investor must appoint a local Emirati partner who owns a certain percentage in the company according to local laws, unless there are special exceptions.
- Submitting the required documents: The required documents may vary based on the type of company and commercial activity, but usually include: passport, certificate of good conduct, articles of incorporation, and others.
- Obtaining licenses and approvals: After submitting the documents, they will be reviewed by the relevant authorities, and you will have to obtain the necessary licenses and approvals from the relevant authorities.
By consulting Itqan Company or a competent legal advisor, you can simplify these steps and ensure that all legal and procedural requirements are properly met.
Documents required to open a commercial register as a Saudi
To open a commercial register in the UAE as a Saudi investor, the required documents may vary slightly depending on the type of company and business activity chosen. However, here is a general list of documents you may need:
- a copy of the passport: The passport must be valid, and the copy submitted contains a personal data page.
- Certificate of good conduct: You may be required to obtain a certificate proving your good conduct from the relevant authorities in the Kingdom of Saudi Arabia.
- Articles of Association: You must prepare the company’s Articles of Association in accordance with the local laws and regulations of the UAE.
- Address confirmation document: You must provide a document proving the address of the proposed company headquarters in the UAE, such as a lease contract or an address confirmation letter from the property owner.
- Power of Attorney: In some cases, you may need to retain a lawyer or legal advisor to represent you in certain legal proceedings.
Before starting the process, you should check the exact requirements for opening a commercial registry in the UAE to ensure you have all the necessary documents and comply with local laws and regulations.
Read also: Establishing a company in Dubai
Expected fees for opening a commercial register in Saudi Arabia
Fees for opening a commercial register in the Emirates as a Saudi investor may vary depending on the type of company, commercial activity, and the emirate in which you open the commercial register. However, here is a general estimate of some expected fees:
- Consulting services fees: If you use the services of a consulting company such as Itqan to help you in the process of opening the commercial register, there may be additional consulting fees.
- Local Partner Fee: If the company requires a local partner, a partnership fee or annual commission may be charged.
- Legal advisors’ fees: There may be fees for legal advisors if you require their services in preparing legal documents and assisting with legal procedures.
Make sure to check the exact details of the expected fees and costs by communicating with the relevant authorities in the emirate in which you intend to open the commercial register, and do not hesitate to inquire about any additional fees that may be required.
Financial guarantees to open a business as a Saudi
To open a commercial register in the UAE as a Saudi investor, local authorities may require certain financial guarantees. Among these guarantees:
- Required capital: Some companies and commercial activities may require a specific amount of capital to be deposited in the company’s account. The amount of capital required usually depends on the type of company and business activity.
- Bank guarantee: The investor may be asked to provide a bank guarantee to ensure his ability to implement his financial obligations, by opening a bank account and providing a bank guarantee for the required amount.
- Signature of a local sponsor: In some cases, the foreign investor may be required to obtain a local sponsor (Emirati sponsor) who will bear responsibility for debts and financial obligations in the event that the company is unable to implement them.
- Providing a financial guarantee: The investor may be required to provide a financial guarantee as part of the procedures for opening the commercial register, in order to ensure compliance with the required financial obligations.
The financial guarantees required change based on the type of company, business activity and the emirate in which the transaction takes place. Saudi investors should review the exact requirements from the relevant authorities before starting the process of opening the commercial register.
A bank account for your commercial record as a Saudi
To open a commercial register in the UAE as a Saudi investor, you are usually required to open a bank account in the UAE. Here are the basic steps to open a bank account:
- Choosing a bank: Research and choose the bank that provides services that suit your needs and requirements, and that is compatible with the type of company you intend to establish.
- Submitting documents: Submit the documents required to open the account, which may include: passport, proof of address, your company documents, and others according to the bank’s requirements.
- Signing Forms: You will be asked to sign opening forms which set out the terms and conditions relating to your account.
- Pay the necessary fees: The account opening process may require paying an account opening fee or an annual fee, which may vary from one bank to another.
- Confirming your identity: You may be asked to prove your identity directly, either by appearing in person at the bank branch or by signing the required documents.
It is always recommended to speak with Itqan Company to ensure that all required documents are completed and that you understand all terms and conditions related to opening the bank account.
Commercial register for Saudis
Our service to open your commercial register as a Saudi
Itqan Company offers a comprehensive range of services to help Saudi investors open a commercial register in the Emirates, among these services:
- Company establishment consulting: Providing guidance and advice on the appropriate type of company to meet customer needs, in addition to providing advice on organizational structure and legal requirements.
- Preparation of documents and procedures: Assist in preparing and submitting all documents and documents necessary to open the commercial register, including articles of incorporation and other legal documents.
- Providing a local partner: Providing the local partner service required under UAE laws, which makes it easier for the Saudi investor to comply with local legislation.
- Assistance in site selection: Providing advice on choosing a suitable location for the company’s headquarters and assistance in property searches and acquisitions.
- Licensing and permits procedures: Assistance in completing administrative procedures and obtaining the necessary licenses and permits from the relevant authorities in the Emirates.
As a company with extensive experience and knowledge of the Emirati market, Itqan Company helps Saudi investors facilitate the process of opening a commercial register in the Emirates and achieve success as quickly as possible.
Your commercial registration as a Saudi
In conclusion, opening a commercial register in the Emirates for Saudis in general, and with the support of Itqan Company in particular, shows the enormous opportunities and huge potential available to investors in this country, which is considered a major center for business and trade in the region. The UAE provides an advanced investment environment and encourages innovation and economic growth, making it an ideal destination for ambitious Saudi investors.
Through Itqan Company Company , Saudi investors can obtain the necessary support and assistance to make the process of opening a commercial register in the UAE smooth and successful. Thanks to its extensive experience and knowledge of the business environment in the Emirates, Itqan Company ensures that it provides the necessary guidance and technical support to investors during all stages, ensuring the success of their projects and the prosperity of their business in this dynamic market.
In this way, Saudi investors can exploit promising opportunities, build a prosperous future in the Emirates, and achieve their economic and commercial goals with confidence and success.
Frequently asked questions about opening a commercial register in the UAE for Saudis
What are the basic steps to open a commercial register in the UAE?
The basic steps include: choosing the company type, defining the business activity, identifying the local partner (if necessary), submitting the required documents and documentation, obtaining approvals and licenses, and paying the required fees.
Do I, as a Saudi investor, have to have Emirati citizenship to open a commercial register?
not always. In some cases, a foreign investor can open a company with 100% ownership, but in other cases a local Emirati partner may be needed.
What are the documents required to open a commercial register in the UAE?
The required documents vary based on the type of company, but usually include: passport, good conduct certificate, business plan, articles of incorporation, address confirmation document, and others.
How long does it take to open a commercial register in the UAE?
The time to complete the commercial registration opening process can vary depending on the type, size and specific legal requirements, but generally can take a few weeks.
What are the expected fees for opening a commercial register in the UAE?
Fees vary based on the type of company and additional services required, but fees should include registration fees, licenses, and partnership fees if applicable.
