How should I set up a business in Dubai?

 The first step is to determine which business activities you will be into. In Dubai, there are about 2100 commercial activities specified by the Department of Economic Development, Dubai. You could choose any one, two or several of them and get them all listed on your Business License. The reason why this step is important is because the requirements vary for each commercial activity. For instance, you need a separate area for the storage of cleaning chemicals when setting up a cleaning company in Dubai.

A business setup consultant experienced in matters of company formation in Dubai would be able to advise you better. So it is recommended that you get in touch with one. He/She will help you draw up the company formation documents that are a prerequisite to company registration. Before doing so, he/she will run a search to see if the name you have in mind for your company is available. If yes, he/she can reserve the trade name so that it will be granted exclusively to you and not anyone else.

A business setup consultant with experience in matters of company setup in Dubai can tell you that there are certain rules pertaining to company nomenclature. For starters, it cannot have religious terms or the names of countries / cities. However, nationalities and the names of geographical regions are permitted. The company’s trade name cannot begin with terms like ‘International’ or ‘Global’, and a first name may be used only if it is the first name of one of the shareholders in the company.

The company formation documents contain the name of the company, the name(s) of the owner(s), and the purpose for which it is being established. The business setup consultant you choose to have in your corner will get them notarized by a Notary Public so that the company formation documents have legal validity in the United Arab Emirates. He/She will also help you choose the right commercial space for your operations – an office cannot be used as a warehouse, according to the prevailing regulations.

You need to enter into a Tenancy Agreement with the owner of the premises and get it registered so that it becomes a legally binding Tenancy Contract. Your business setup consultant can help you out with this part as well. He/She then submits the company formation documents and the Tenancy Contract to the Department of Economic Development, Dubai. If all the documentation is in order, you are granted company registration and a Business License. You can proceed to commence operations immediately.

There is one more thing you need to do. It is recommended that you open a corporate bank account for your business so that you can make and receive payments with ease. Owing to strict anti-money laundering regulations in the United Arab Emirates, opening a bank account is not as easy as it sounds. But someone experienced in matters of business setup in UAE can see to it that the process takes only two hours instead of the whole day.

A&A Associate is a provider of corporate solutions that specializes in business setup in Dubai and rest of the United Arab Emirates. It has a team of experts that has been handpicked for their expertise in Business Consulting, Tax Advisory, Legal, and Corporate Finance. It has been of assistance to clients from 100 countries around the world and has an excellent client satisfaction rate so far. For more details, call +971 4 269 0673

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