Company Formation Dubai
Seamless & Quick Company Formation in Dubai
With the significant benefits businesses get from government policies, Dubai becomes a one-stop place to establish your business. It gets better as Dubai allows foreigners to establish their business in Dubai. Almost in the first half of 2022, there were 45,653 new business licenses issued.
How Do I Form A Company In Dubai?
Procedure For New Company Incorporation In Dubai
1. Create A Legal Structure For The Company
To create the company's legal structure, you must select the type of company you will open. According to your business requirements, it could be a joint stock company, an LLC, or any other. For more in-depth details, you can contact us for any assistance.
2. Selecting A Trademark Of The Company
Trademark is generally the name of the company under which your company will conduct business. Before you select any name, you must ensure that it's morally appropriate and not previously taken by anyone.
3. Applying For Licence
Commercial, Industrial and Professional are the three licenses from which you will have to get one according to your business. To apply, you will have to contact the concerned authorities or hire us to do it for you. We ensure that our clients don’t have to face complications while doing any of these procedures by making most of their tasks simple.
4. Selecting Company’s Location In Dubai
Choosing the location thoroughly with proper research is crucial for your business growth. While selecting the location of the office space, you will have to choose if you are going to buy the property or lease it.
5. Getting Pre-Approved Business License From Concerned Authorities
Depending on the laws of the location your business is situated in, you will have to apply for pre-approval with the correct documents for obtaining the license from concerned authorities.
6. Opening Company’s Corporate Bank Account
For conducting any payments of business, you will require to create a corporate account. This account will be used for most of your business money-sending or receiving process. The formation process of the company in Dubai won’t be on your list of worries once we take over the wheel and handle all of the processes thoroughly for you.
Documents Required
Registration documents:
- Complete the registration application form
- Information on share capital
- Power Of Attorney given to the Director/Manager of the company
- Board Resolution for appointing the Director/ Manager
- Articles of Association (AOA) and Memorandum of Association (MoA)
- Photographs of the Manager/Director passport-sized
Visa or License documents:
- Lease agreements prepared by authorities
- Visa processing takes place
- Trade license is issued
Documents For Initial Approval
- Well drafted business plan in a PDF
- Form for company’s name and license approval
- Trade license or registration certificate copy (if you already have a company existing)
- Shareholders' corporate documents.
- Copies of passports of shareholders and directors appointed
- Financial reports of the last two years of corporate entity
- Specimen signatures of shareholders and directors appointed
- Business related details
- NOC provided by the local sponsor
- Visa page or Entry stamp
- At least 3 options for naming the company
- Registration Identification Code from the Director/ manager.
- Passport size photographs
- Copy of passport
Business Eligibility For Company Setup In Dubai
Even though anyone with the minimum capital requirement can establish a business with us at Co-Hub, there are still a few criteria that need to be taken care of, such as the type of business you are going to open. For example, the activity your business conducts should be the ones that Dubai allows foreigners to do. Below are the eligible business structures which are suitable to incorporate in Dubai:
Joint Stock Company
Those companies which are collectively owned by their investors are known as Joint Stock Companies. In Dubai, there are over 2-15 directors elected from UAE for this type of company within the span of 3 years.
Limited Liability Company (LLC)
To establish a Limited Liability Company in Dubai, you either have to get sponsored by the nationals of Dubai or the companies in Dubai that are entirely owned by nationals.
Free Zone Companies
Free zones are the areas where special laws are applicable for established businesses. You can settle two types of companies in Free Zones: an “LLC” owned by multiple shareholders and an “Establishment” owned by a single owner.
Branch Office
As the name suggests, branch offices are a sort of extension of the parental company. You can establish your business extensions or branches of a company.
Trade Representative Office
Trade representative offices are those that are allowed to conduct limited functions. These are also an extension of parental companies. To establish this company, you will require to hire a UAE national agent.
Dual License Branch Office
To establish an extension of your Free Zone companies, you will require to build a Dual License branch office. Unlike other companies, Dual License Branch Offices have their own individual license other than the free zone one.
Advantages / Benefits Of Company Formation In Dubai
Starting a business in Dubai is nothing bizarre or different than starting it in your own country.Lately, Dubai and UAE government have made it an extremely lucrative place for people to start there businesses here by providing many substantial benefits to budding entrepreneurs.But what really are the policies and advantages offered? For that, Let’s take a look at a few of the primary benefits that overall businesses get in Dubai:
100% Foreign Ownership
In 2021 the Commercial Companies Law in UAE saw some extensive changes in foreign business ownership. Foreigners get to have 100% ownership of their business. In addition, you can start your business in Dubai and own 100% of itnon your name without the government taking any part in it.
Infrastructural & Geographical Advantage
Dubai's infrastructure is phenomenal as its crossroads connect north, east, south, and west with each other. Transportation or exports is going to be one of the main advantages that companies would get. Dubai’s overall infrastructure is ever-evolving and has great telecommunication, terminals, etc.
Taxation Benefits
Undeniably, this is one of the benefits that can’t be overseen by foreigners who want to start their business in Dubai. Registering a company in Dubai will make you eligible to be free from paying any taxes, whether corporate or personal. However, some specific businesses have to pay GCC VAT on certain activities.
Multiple Free Zones
Free zones are areas where establishing a business will allow you to have 100% of its ownership. By establishing your business in a free zone, you will get to keep 100% of its earnings. There are over 30 free zones where establishing a business can be a game changer.
Business Supporting Environment
Registering the company is way more convenient and faster in Dubai. You will not have to do much of the paperwork, and each step for registration is easy to follow.
Dubai Company Formation Cost
Generally, the lowest cost for setting up a business start from anywhere near AED 5000 going up to thousands cause of the different things that business have to do for setting up. The cost can be registration fees, license fees, office/ company premises fees, and more. In some businesses, the share capital is a requirement, meaning the company should have a share capital of AED1000 to AED1,000,000 according to their business.
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