Let’s be honest, open company in Dubai is difficult and requires experience, specialization, and preparation of a solid business plan. All this is due to the high demand for business in Dubai in order to invest money and make a profit, this made competition among business owners intensifying and the infrastructure ceiling rising. So we offer you the five most essential steps to open company in Dubai .
There are five basic steps that you must to open company in Dubai as follows:
1. Determine the field of business
Firstly, In order to open company in Dubai you must choose the field of work that you want to start. There are many areas that you can choose from, but always remember to choose the field of work in which you have experience and specialization and above all, you like to work in it.
If you do not possess expertise or specialization in the chosen field, you should seek the assistance of those with expertise and specialization to assist you in making your business successful.
2. Choose a name for your new business
You are absolutely free to choose a name for your new company, but remember to choose a name that matches the nature of the company’s activity.
You have to keep in mind the strict legal rules of choosing the names of companies enacted by the UAE government, for example:
- The name must not be religious or the name of God.
- The company name is prohibited from referring to sectarian or political elements.
- If the name of the company is in the name of a person, then that person must be one of the partners in the company and his name must be used in full, meaning that the initials of his name can’t be used.
3. Obtaining initial approval
One of the most important steps to open company in Dubai is obtaining initial approval.
Initial approval includes both the names of the partners in the establishment of the company and the nationality of each of them, in addition to the main purpose for which the company was established.
After choosing the trade name and obtaining the initial approval to practice the activity, our team starts dealing with the UAE government agencies in order to obtain the required initial legal approvals and licenses.
4. conclusion the company contract
The contract must include the names of the partners and their nationalities, in addition to the trade name that will be used after approval, in addition to specifying the company director, the total paid-up capital, the share, and proportions of each partner in the capital.
5. Issuing the license to open company in Dubai
After completing all the previous steps, a new company establishment license must be issued by submitting the company headquarters lease contract and the company’s establishment contract and paying the relevant legal fees. Also, the trade name must be registered and the commercial registration of the company must be issued from the Department of Economic Development in the Emirate of Dubai
These are the basic steps to take for Business Setup in Dubai.
And for more information about open company in Dubai you can visit The Department of Economic Development (DED) website.