Steps to set up a business in Dubai, United Arab Emirates
Investors flock to Dubai due to the lifestyle that the United Arab Emirates has to offer. Recently, it was surveyed that Dubai is the most open-minded city in the Middle East, and this has happened due to the leadership of the Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum.
Tourism, real estate investments, and open-trade across multiple sectors have led to many new business licenses being issued on a daily basis in Dubai. Hence, there are some protocols to be followed in order to establish a business in this wonderful city where you can find more than 120 nationalities staying next to each other.
Entrepreneurs and businessmen tend to settle down in Dubai, and the major reason for that is the ease of doing business in Dubai. The department of economic development or the mainland authority is not the only source of issuing your business license. In fact, you may also run a licensed organization under a free zone government entity that doesn’t require you to rent an office for your business, saving you thousands of Dirhams at the end of your fiscal year.
Below are the crucial steps to set up a free zone business in Dubai:
- The legality of the business
- Trade name reservation
- Application for the business license
Following the above steps you will be granted a pre-approval which will help you to proceed further and register your business as a licensed enterprise in Dubai, United Arab Emirates.
Mainland or DED licenses also do not require expats to have mandatory local partners on their licenses any longer. Which has helped many establishments reduce their expenses and to operate a business without a shared partnership.
There are numerous free zone authorities in Dubai that allow you to set up a business license in Dubai, United Arab Emirates, below are few of the most popular ones that startups have adapted:
- Dubai Internet City
- Dubai Media City
- Dubai Production City
- Dubai Studio City
- Dubai Outsource City
- Dubai Knowledge Park
- Dubai International Academic City
- Dubai Science Park
- Dubai Design District
A few details for specific free zones apart from the list above:
- You can register a free zone co. in Dubai Airport Free Zone Area (DAFZA) with a minimum share capital of AED 1000. AED 1000 should be the minimum denomination for each share.
- For a free zone company to be formed in DMCC, the minimum share capital is AED 50,000 per firm and AED 10,000 each shareholder. A corporation must have a minimum share capital of AED 1 million to be granted a general trading license.
- With a share capital of AED 150,000, you can form a free zone enterprise in Hamriya Free Zone.
If you’re looking forward to starting a business in Dubai, or setting up a branch office of your established company in Dubai, you would have to internationally move to Dubai for which you would need a professional, recognized, relocator or packer & mover. You may rely on Fusion Relocations, experts in conducting packing & moving processes across 120+ countries!
To get in touch with Fusion Relocations please call or email us. You may also reach us on 800-FUSION (387466) or email us on [email protected]