Company Formation in Dubai: Its Complete Process!!
UAE is one of the largest business destinations for foreign investors who are willing to open their company in Dubai, a city that offers a lot of business opportunities, including low taxation systems and many other free zones with different facilities and services. Company Formation in Dubai is not that tough if you contact local agents who are specialized in incorporating any type of business. The local agents all the more can help you pick the right type of entity that suits your business needs and demands.
In several cases, the Dubai Company Act requires a foreign investor to get the help of a local agent who will own the majority interest of the business. However, the only place where a foreign investor may fully incorporate a company in Dubai is the Dubai free zones. According to Dubai’s Company Law, foreign investors may set up the given types of companies in Dubai:
- Public and private joint stock companies
- Branch offices
- Liability companies
- Free zone establishments
- Free zone liability companies
For people who are seeking an easy form of Company Formation in Dubai, the sole proprietorship could be the best choice, however depending on the type of company and licensing requirements, the company formation process with the registration office will take a few days to get completed.
The process of company formation in Dubai
The company formation process in Dubai involves various stages that include:
1. Select your business activity
The type of business activity you choose can have a bearing on which free zones you should set up your business. For instance, some free zones also offer certain types of activities, including medical, media and transport.
2. Pick your company name
The UAE has a few strict naming conventions. Therefore, before you commit to any name, make sure it confirms all the norms and conditions. Names that have offensive languages and that refer to Him, Allah or any other religious or political groups are forbidden.
3. Finalize all the paperwork
Once you’ve selected your business type and the company’s name, you’ll be required to complete an application form for your chosen business name and activity. The form then needs to be submitted along with copies of shareholders’ passports to the relevant government offices.
4. Get your license notification and open your bank account
Once all your applications have been submitted and processed, the UAE government will then issue your company license. Upon receiving the license, you will also have all the documentation needed to open your business bank account.
5. Process for your visa
This is the final step of company formation in Dubai where you need to process for your own visa and also for your staffs and other dependents joining you in your business.
So, with these steps, you are surely good to go and set up your company in your chosen UAE free zone.