Getting your business up and running in Dubai shouldn’t take longer than a week after you have sorted all your legal paperwork. YABS can assist you with the entire process of setting up your business in Dubai.
The following steps will guide you through the process of forming a mainland company in Dubai, United Arab Emirates:
- Choose the business activity, trade name and location to operate your company. The business activity and trade name should be in accordance to Dubai Laws. You can either open a sole establishment or form an LLC, based on your business activity. Unlike an LLC, a sole establishment will ensure 100% shareholding, whereas an LLC will have 51% ownership by a local sponsor.
- Choose a local sponsor (Emirati national) for your business. Local sponsors are mandatory for an LLC company; however, Emirati nationals can act as local service agents for those with professional licenses. An NOC from the local service agent is required to commence your business ventures in Dubai.
- Prepare a Memorandum of Association (MOA) that clearly states the operational guidelines of your company, such as the purpose, capital involved, and share information.
- Obtain initial approval from DED (Department of Economic Development). DED notarizes the MOA and then issues initial approval.
- Register the company and trade name with DED. DED has the right to reject trade names if they do not conform to the rules.
- Rent office space. A registered office address is required for the issuance of trade licenses. As proof of a registered address, ownership agreements or tenancy agreements can be produced.
- Open a corporate bank account.
- Once all pre-requisites are met, you can apply for the establishment card, visas and get your business running within a week.
A company that’s new to Dubai or the United Arab Emirates may be unsure of how to have its business license formally issued, so it’s a good idea to hire an experienced business consultant. The team at YABS can assist you with the entire process associated with mainland business formation in Dubai.
You can always count on our advisors and consultants for assistance.