Company Formation Services

One of the biggest cities in the Middle East is Dubai. Company Formation in Dubai can provide a wide range of business opportunities for establishing various types of firms by international investors. To ensure that trade and business in the region continue to grow, this city has increased its opportunities. In addition, Dubai has diversified its economy so that less than 1% of its total GDP comes from oil output.

 

Advantages of Investing in the UAE

 

Top-Notch Infrastructure

One of the most progressive cities in Central Asia, Dubai has some of the best infrastructure on the planet. Its infrastructure constantly changes and provides first-rate terminals, telecommunication, and public transportation. Additionally, Dubai hosted Dubai Expo 2020, when the city's overall infrastructure significantly improved.

 

Ideal Location

Due to its strategic location at the intersection of the north, south, east, and west, Dubai enjoys many advantages. Its airports and seaports are among the busiest and most dynamic in the world, and its logistics infrastructure is among the best. One of the largest re-export hubs on the planet is there. It also takes pride in being one of the world's top tourist destinations.

 

Availability of More than 30 Free Zones

The Mainland and Free Zones are options for investors to establish their businesses. For entrepreneurs and investors, Dubai has more than 30 free zones to select from. The investor might own the business by establishing it in a free zone. Additionally, it allows the investor to work with other participants in the same sector.

 

Strong Governmental Rules

The Dubai government has quickly embraced technology for business startups in Dubai. Registering a corporation is quick and straightforward, taking only a few days. Less documentation is required, and the procedures are simple to follow.

 

Economic Freedom

A few changes were made to the UAE's Commercial Companies Law, enabling foreign investors to own 100% of their companies there. This permits more than 50% of Dubai's overall economic activity, allowing foreign investors to own 100% of the company.

 

Investment Incentives

The fact that the business does not have to pay taxes is one of the main advantages of company registration in Dubai. In Dubai, there are no business or individual taxes. However, small businesses must pay GCC VAT at a rate of just 5% on specific commercial operations.

 

Documents Required for Company Formation in Dubai

 

For Initial Approval

1. Application for initial license approval and name reservation

2. An excellent business plan

3. A copy of the current trade license or registration certificate (if the company already exists)

4. A board resolution and the corporate entity's audited financial records for the previous two years.

5. Documents corporate of the shareholder

6. Colored copies of the shareholders' passports and those of the newly appointed directors and managers

7. Examples of the management and directors of the new company, as well as the shareholders of the corporation

8. Information on the activities the firm NOC will do from the local sponsor Registry Identification Code (RIC) form for Directors and Managers (Original and notarized)

9. Name of the business (at least three options should be given)

10. Entry visa page or stamp

11. Copies of passports

12. Passport-sized pictures

 

For Registration of the Company

 

The next step is to pay the registration and license fees when the initial approval has been received.

The cost is based on the type of license needed and the business activity engaged in. Consequently, the following paperwork must be submitted.

 

1. Filled company registration application

2. Information about share capital

 

The following documents must be notarised and certified when applying for a company's registration.

 

1. Board Resolution for Designating the Director/Manager Articles of Association (Articles of Association) and Memorandum of Association (MoA) (AOA)

2. Power of attorney granted to the company's director or manager

3. Passport-size images of the director or manager

 

For licensing and Visa Processes

 

1. The authority prepares lease agreements.

2. A trade license is issued

3. Visa processing starts taking place

 

Key Steps to Company formation Dubai 

 

Selecting the Best Business Structure for the Organisation

 

The number of shareholders, the commercial operations carried out, and the amount of cash required by the company all play a role in choosing an appropriate business structure. This is a significant step in Dubai's company formation.

 

Choosing and Reserving a Name for the Company

 

The following action is to reserve a name for the business.

1. The corporation will conduct its business operations under this name. 

2. The applicant should check with the relevant Free Zone Authority or the Department of Economic Affairs of the UAE to see if the chosen name is available. 

3. The applicant must confirm that the name they have selected is available and has yet to be registered by another business.

 

Applying for A Business License

 

The applicant should apply for a business license for the commercial activities the company wishes to engage in Dubai after selecting and reserving the name with the relevant government. 

 

Commercial License

Companies that conduct business must obtain a commercial license.

 

Industrial License

Organizations that engage in manufacturing and other industrial operations must acquire an industrial license.

 

Professional License

Technicians, artists, and professionals that provide services should all have one.

 

Deciding the Jurisdiction / Location of the Company in Dubai

 

The choice you make about the office's location could completely alter the course of your company. As a result, the location of the company's office space must be carefully considered. The business owner might decide between purchasing the office space and leasing the land. Business Setup in Dubai and the budget earmarked for the same all influence the choice of office space.

 

Office sizes in Dubai's various free zones range from 20 to 30 square meters to more than 2000 square meters. Obtaining the necessary business licenses, registrations, and pre-approvals from the relevant authorities. Companies registered anywhere are subject to the laws of the respective jurisdictions in which they are situated.

 

To receive pre-approvals, business registration, and the proper business license from the relevant authorities, enterprises must apply with the appropriate paperwork. The documentation is based on the company's location, corporate structure, and the type of commercial activity it engages in.

 

Opening a Bank Account

 

The business must run a corporate bank account to receive and transfer money to continue its business endeavors, provided all necessary registrations and approvals have been received from the relevant authorities.

 

Cost of UAE Company Formation

 

The size, kind, and location of the company are just a few variables that affect how much it costs to register a business in Dubai. Necessary legal authorization significantly influences the expected expenditures.

 

In a Dubai-free zone, registering a business usually costs between AED 15,000 and AED 25,000. Usually, it takes AED 20,000 or more to start a mainland corporation.

Bizex has accomplished a lot in the area of business licensing. They have built a sizable clientele base and will help ease the company formation in Dubai.

 

Company Formation in UAE can result in diversification, and long-term economic growth has quickened. In the first half of 2022, the city issued 45,653 new business licenses, a number that is much greater than the 36,647 licenses that were issued the year before (2021), indicating a 25% increase in the number of companies registered. Business-friendly government policies and programs, tax structures, and infrastructure, to name a few, are the key drivers of the expansion.