Dubai has always been an attractive hub for business investors as it is the most popular trading center in the Middle East. Both, the business opportunities and the facilities, make it an ideal location to start any kind of business. So, if you are interested and want to know how to register company in Dubai, then you need to take assistance of affordable, experienced and the best business setup consultants at Start Any Business that will assist you and guide you properly in entire procedure and make it very reliable, smooth and successful without any obstacle.
Company Registration in Dubai
Company registration in Dubai permits entrepreneurs and investors to experience the enormous business advantages provided by Dubai. It has become the favorite choice among foreign investors to establish a company in Dubai because of the 100% ownership, tax saving, ease of doing business, and increasing business opportunities, investors can choose from a wide range of company registration options available in the region. The best business consultants – Start Any Business (SAB) provide appropriate assistance to register a company in Dubai. Depending on your actual business requirements and the nature of the activity of your business, they will assist you with the right choice for registering a company in Dubai, UAE.
The jurisdiction for registering a company is categorized into three – Free zone, offshore, and mainland jurisdiction. The mainland company can now be registered as a 100% expats-owned entity in Dubai, UAE. However, depending on the activity of business and industrial sector there are certain rules to be accomplished by the investors.
Process of Company Registration in Dubai
If you are looking to setup your business in a city, then Dubai is the best place for you. Business setup in Dubai is a smooth and a simple process. Certain documents have to be verified and some approvals must be passed from the respective government authorities before an owner of the business can setup their business in Dubai.
Although the process for applying a business setup in Dubai is simple, an individual with little knowledge about how things work in Dubai cannot be able to complete the procedure.
The essential steps to register company in Dubai that you have to follow are:
- Find a reliable local sponsor. The local sponsor must be a UAE national. This need has to be carried compulsorily to satisfy the requirements related to Federal Commercial Companies Law. 51% ownership share has to be of the UAE citizen if you want to establish a company outside the DIFC (Dubai International Financial Centre).
- Go for the procedure of reserving the company name with the Department of Economic Development. To reserve the company name, you need to pay a mandatory fee.
- Get a No Objection Certificate (NOC) from the local sponsor.
- Make a Memorandum of Association and Article of Association of the company. The documents dealing with the MOA and AOA will be downloadable from the company registrar.
- Get the initial approval from the Department of Economic Development (DED)
- Once DED provides initial approval, the business has to be registered under a unique trade name. You need to make sure that the name you select doesn’t present the name of God, or religion.
- Arrange a suitable physical office space to conduct your business smoothly.
- Get a business license in Dubai. The business license you will choose depends on the nature of your business and the business activity.
- Once you receive a business license, the business will be setup within a week.
Documents Required for Company Registration in Dubai
The following documents will be needed to register a company in Dubai.
- Application form of the business
- Business plan
- Memorandum of Association and Article of Association
- Passport of the managers of the business
- Passport of the sponsor
- No Objection Certificate from the sponsor
- Bank reference letter for each stakeholder
Benefits of Company Registration in Dubai
The following are the advantages of company registration in Dubai:
- Regulatory Environment Offered : The Dubai courts comply with the common law system. Although, precedents from court cases are managed by lawyers in Dubai who have UK and US legal qualifications. There is a unique way of regulation in Dubai.
- 100% Foreign Ownership : The amount of overseas ownership permitted for a company registered in Dubai is 100%. Therefore, an overseas investor can have 100% equity company ownership.
- Less Tax Burden : The amount of direct tax imposed on an individual will be less than the amount of direct tax. An indirect tax like VAT is present in Dubai. This will be considered as VAT that is collected at a 5% rate on goods and services that are offered in Dubai.
Also read, How To Setup A Company In Dubai