Interesting factors about business setup in Dubai
When starting a new business in Dubai, you need to understand the dynamics in different countries is very important to choose a mainland, or a free zone has never been accessible. Therefore, it is essential to understand all the laws for starting a business. Questions like where to choose Emirates? What is Islamic law? What are the registration rules and regulations? The business setup in Dubai is an outstanding consulting firm offering financial, taxation, establishment, accounting, legal compliance services, and other services.
What are the key steps to start a business in Dubai?
The steps for business setup in Dubai is given by,
Determine the type of legal entity: Determine the kind of legal entity your business will receive in the duty-free zone. You can set up your business in two types. They are given by,
- Free Zone Company (FZ Co.)
- Establishment of a Free Zone (FZE)
The difference lies in the number of shareholders and whether the shareholders are natural persons or legal entities. All free zones may not register both types of companies. You must check with each free zone authority regarding the kinds of companies.
Choose a trading name: You are deciding on the type of legal entity your business should use. You should choose a trading name. In most cases, you should check with the relevant Free Zone Authority or the Department of Economic Development.
Apply for a business license: The type of business license you will be applying for depends on the core activities of your business. It is one of the essential steps for starting the business.
Choose office space: You can buy or rent office space in the duty-free zone. Office requirements depend on the number of employees and the type of business activity in your company. In DMCC, you can choose flexible desks of 20-30 sq m, flexible offices of 200-265 sq m, or multi-story offices with a total floor area of up to 2000 sq m each.
Get pre-approved, register your business and get your license: Companies incorporated in a free zone are subject to the relevant free zone rules. You must apply with the required documents for approval. You need to submit the list of documents varies according to the type of business activity, Company type, and the authority’s requirements in the duty-free zone.
You can do any business in finance, education, retail, hospitality, and media, among others, and check with the relevant free zone authority for licensed companies in their premises.