Steps to establish a company in Dubai for Gulf citizens

With many Gulf Arabs investing in Dubai and establishing companies there, establishing companies in Dubai is considered an important strategic step. Many of them seek to take advantage of the thriving economic environment and broad opportunities the city offers. As the demand for these operations increases, companies such as “Itqan” play a vital role in guiding and assisting Gulf nationals in the steps of establishing a company in Dubai for Gulf nationals.

In our article, we will explore the basic steps for setting up a company in Dubai for Gulf Arabs, focusing on the role of Itqan in this context. The process begins with initial steps such as choosing the appropriate company type, whether a sole proprietorship or limited liability company, with a focus on the business activities permitted for Gulf nationals in Dubai. Itqan consultants help at this stage by guiding Gulf residents to choose the type that best suits their business and investment goals.

Then comes the official registration of the company and obtaining the necessary licenses, and here Itqan plays the role of providing support and assistance in all legal and administrative procedures related to registration and licenses. Itqan also helps Gulf nationals choose the ideal location for the company’s headquarters, while guiding them regarding strategic locations and vital areas for their business.

After that, comes securing employment and visa and residency procedures for Gulf employees, as Itqan provides support in this area by facilitating work, residency and visa procedures to ensure smooth work within the company.

Ultimately, Itqan’s presence, with its deep understanding of the UAE market and legal and administrative procedures, facilitates the establishment of a company in Dubai for Gulf citizens, making it a reliable and effective partner in the investment and establishment journey in the prosperous city.

Steps to establish a company in Dubai for Gulf citizens

Dubai is characterized by an encouraging business environment and flexible laws that make it an ideal destination for establishing companies. Gulf nationals can take advantage of this wonderful environment to achieve their business goals. Here are the steps for establishing a company in Dubai for Gulf citizens :

1. Determine the type of company: Determine the type of company you wish to establish, whether it is an individual company, a joint-stock company, or a partnership.
2. Choosing a trade name: Choose a name for the company and make sure that it is compatible with local laws and legislation in Dubai.
3. Arrangement of partners and shareholders: If there are other partners or shareholders, arrange the necessary agreements and contracts between the parties.
4. Determine the location of the company: Choose a suitable location for the company’s headquarters in Dubai, whether it is in a free zone, a commercial area, or a virtual office.
5. Obtaining the necessary licenses: Apply to obtain the necessary licenses from the competent government authorities in Dubai, depending on the type of company and its activity.
6. Submit necessary documents: Submit the required documents to local authorities, which may include passports, personal photos, contracts, and necessary permits.
7. Registration in the Commercial Registry: Once all conditions and licenses are met, register the company in the Dubai Commercial Registry.

Types of companies available to Gulf nationals

These are four common types of companies that Gulf nationals can establish in Dubai

Procedures for obtaining permits to establish a company in Dubai for Gulf nationals

For Gulf nationals wishing to establish a company in Dubai , they must follow specific procedures to obtain the necessary permits. Here are general steps you can follow:

1. Determine the type of company: Gulf citizens must determine the type of company they wish to establish, whether it is an individual company, a joint stock company, or a limited liability company, according to their needs and business goals.
2. Choosing a company name and ensuring its availability: Gulf nationals must choose a suitable name for the company and ensure that it is available and not similar to the names of other companies registered in Dubai.
3. Determine the commercial activity: Gulf nationals must determine the commercial activity they intend to practice within the framework of the company, and ensure the availability of the necessary licenses for this activity.
4. Determine the financial contribution and partnership: Gulf nationals must determine the financial contribution required to establish the company, as well as determine the partnership percentage if the company is owned by more than one person.
5. Preparing the required documents: Gulf nationals must prepare the necessary documents to establish the company, such as passports, personal photos, and personal data of shareholders.
6. Submitting the application and paying the fees: After preparing the required documents, Gulf nationals must submit the application to establish the company to the competent authority in Dubai, and pay the prescribed fees.
7. Waiting for approval and obtaining the permit: After submitting the application and paying the fees, it is reviewed by the competent authority, and after approval, the permit is granted to establish the company.

Advantages of establishing a company in Dubai for Gulf nationals

Establishing a company in Dubai for Gulf nationals provides many opportunities and advantages, and among the positives that Gulf nationals can benefit from when establishing a company in Dubai are:

1. Easy access to the Emirati and regional markets: Dubai is considered a gateway for trade in the region, and is characterized by advanced infrastructure and easy access to the Emirati and regional markets.
2. Flexible laws and supportive legislative environment: Dubai has flexible laws and a supportive legislative environment for business, which facilitates the procedures for establishing and operating companies.
3. Political and economic stability: Dubai has an environment of political and economic stability, making it a safe home for investment and business.
4. Advanced Infrastructure: Dubai has an advanced infrastructure that includes airports, ports, roads and logistics services, facilitating the transportation of goods and trade.
5. Economic Diversity: Dubai provides a diverse economic environment that includes many sectors such as real estate, tourism, and technology, which provides multiple investment opportunities.
6. Financial and tax facilities: Dubai provides a favorable investment environment that includes financial and tax facilities, such as not imposing personal income taxes and corporate taxes in some sectors.

Financial guarantees for establishing a company in Dubai as a Gulf Arab

When establishing a company in Dubai as a Gulf national , there are certain financial guarantees that can be required or useful to ensure the success of your business and its compliance with local laws and regulations. These guarantees depend on the type of company, the size of capital, and current laws. Here are some financial guarantees that may be required:

1. Capital: The capital needed to establish the company must be determined based on the type of company and local laws. This capital can be privately owned or contributed by Gulf investors.
2. Bank account: You may need to open a bank account in the name of the company and deposit part of the capital into it. This enhances financial transparency and facilitates payment and transfer processes for the company.
3. Additional financial guarantees: In some cases, you may be required to provide additional financial guarantees such as bank guarantees or financial insurance to ensure compliance with your financial obligations.
4. Payment of legal fees: The company establishment process may require payment of legal fees and registration costs that vary depending on the type of company and legal services required.
5. Compliance with Financial Controls: You must comply with all local financial and accounting controls applicable in Dubai and the UAE in general.
6. Legal Advice: Make sure to obtain professional legal advice to ensure that all required financial guarantees are met properly and effectively.

These are some of the common financial guarantees that can be required when establishing a company in Dubai as a GCC citizen. It is always advisable to speak with Itqan and ensure you comply with all local laws and regulations.

Opening a bank account to establish a company in Dubai as a Gulf citizen

Opening a bank account to establish a company in Dubai as a Gulf national is considered a basic and necessary step to start business in a legal and orderly manner. The basic steps for opening a bank account can be summarized as follows:

1. Choosing a bank: Search for local or international banks that offer corporate account opening services in Dubai. Check the bank’s reputation and rating to ensure it meets your company’s needs.
2. Preparing documents: Before visiting the bank, make sure to prepare all the required documents. These documents may include a passport, proof of address, approved company documents, and a company registration form.
3. Visit the bank: Visit the selected bank with all the required documents. You can arrange an appointment in advance if required.
4. Submitting the application: Fill out the bank account opening form and submit the required documents. You may be required to pay an account opening fee.
5. Approval and activation: After the bank studies your application and the documents provided, a decision will be issued to open the account. You should get account details such as account number and information needed to access it.
6. Capital Deposit: You may be asked to deposit part of the company’s required capital into the new bank account.
7. Credit Card and Additional Banking Services: After opening an account, you may also need to request a company credit card or additional banking services such as online banking.

Remember that the required documents and procedures can vary between banks according to their policies and the type of company you wish to establish. Therefore, it is necessary to check each bank’s requirements carefully before embarking on the account opening process.

Our service in establishing a company in Dubai as a Gulf

Itqan Services Company provides multiple services in establishing companies in Dubai, including legal, financial and administrative consulting services. These services can include:

1. Business and legal consulting: The company can provide advice on the company’s legal structure, necessary licensing and permit procedures, legal obligations and taxes.
2. Help in determining the type of company: It helps the company determine the appropriate type of company such as limited company, sole proprietorship, or partnership.
3. Registration and incorporation: The company provides registration and incorporation services, including preparing the necessary documents and submitting them to the relevant government agencies.
4. Assistance in opening a bank account: The company provides assistance in opening a bank account for the company, which facilitates work procedures and financial transactions.
5. Administrative and office services: The company provides administrative services such as office rental, address management, reception and communication services.

These are some of the services that an Itqan company may provide in establishing a company in Dubai, and you can contact them directly to get more details about the special services that they can provide to you.

Your company is in Dubai as a Gulf company

At the conclusion of our article on the steps to establish a company in Dubai for Gulf citizens, we find that the role of Itqan Company remains crucial and effective in guiding and assisting Gulf investors throughout the entire process. Itqan plays an important role in facilitating every step of establishing a company, from choosing the type of company to obtaining the necessary licenses and visas.

Itqan is distinguished by its extensive experience in the field of investments, legal and administrative affairs in Dubai, which makes it a reliable and specialized partner for Gulf nationals who wish to establish their companies in the city. Thanks to its strategic and knowledgeable guidance, Gulf investors can benefit from the broad opportunities that Dubai offers as an international investment center.

Therefore, the role of Itqan is not only limited to facilitating establishment procedures, but also extends to guiding Gulf citizens towards sound and sustainable investment decisions, and providing continuous support to ensure the success and prosperity of companies in the local market. Under the slogan of professionalism and quality, Itqan remains a strong and reliable partner in the investment and establishment journey in Dubai.

The most frequently asked questions about establishing a company in Dubai for Gulf nationals