To set up a company in Dubai it takes less than seven days and is also a very simple process. There are several consultants who help with company setup in Dubai. Dubai is one of the fastest growing cities economically in the world. Setting up a business in this fast-paced economy is a good decision, but there are a few things that you should keep in mind.
The company setup in Dubai procedure is very simple if you to do the right things. Dubai has created special economic areas like free zones to encourage foreign investors to set up their business in the city. They give a lot of sops and benefits for small and large businesses in the free zone. For Indian investors and entrepreneurs, this could be the perfect opening to expand to one of the most lucrative markets in the Middle East.
Here are some considerations for company setup in Dubai that you should be aware of:
- The nature of the business will determine the type of trade license that it requires. There are different categories like commercial, professional and industrial licenses. However, if you need to set up businesses related to food and beverages, jewellery, legal consultancy, and veterinary, you will need further approvals from the government. The department for economic development has a list of more than 2100 service types to choose from.
- If you want to have 100% ownership of the company, you can opt to set up in the free zone. There are many free zones in the UAE and out of them, nearly 40 of them are in Dubai. Each free zone supports unique business activities and there are several categories. So, making a choice is not difficult.
- The legal structure of Dubai is very liberal and accommodating. The location of the business will determine the jurisdiction that you come under for company setup in Dubai. The rules and regulations will vary accordingly depending on the location.
- The business or trade name is a very important factor of the legalities. The company name that you choose should describe the nature of the business.
- A minimum share capital is required for setting up a business in the UAE. The DED has clear rules mentioned about this feature. Once you have the legal procedures and forms in place you can decide on an office to rent in the preferred location.
- The DED also requires that you hire a local manager who runs the business in Dubai. You may also engage contractors to run your business.
The final words
Company setup in Dubai can be an easy and quick process if all of the above points are kept in mind. However, there are a few restrictions for certain types of companies and the nature of businesses. Services related to sex and adult business and anything else that is deemed illegal by the government are clearly not allowed. Also, the business should not have any religious interests or political interests.
The DED has a comprehensive list of types of business setups foreign nationals can look at. To make the entire process hassle-free, it is best to hire a consultant for company setup in Dubai. The consultants can guide you through the legalities in a quick and efficient manner so that you can easily expand your Indian business to Dubai or any other city in the UAE. it is a easy approach for brands, companies to set up a business in Dubai and we are at your door step to help with the company formation work.