The government of the United Arab Emirates (UAE) provides a number of advantages to entrepreneurs who want to establish their businesses in Dubai. One of the most significant advantages is that company incorporation is simple and rapid. How can foreigners start a business in Dubai? Moreover, for those who are uncertain about completing the procedure themselves, a broad range of company establishment services in Dubai are available.
You’ll need to apply for a Dubai visa before you can begin establishing up your company in the city. You will be able to enter the nation several times as a result of this.
You’ll need to go via the Immigration Department and provide them with the following documents:
- Visa application has been submitted in its whole.
- A collection of colour photos in various settings
- Passport and boarding pass information
- Your business strategy should include information about the objective of your visit.
- The amount of the security deposit
- statement from the bank
- It is possible that more information may be requested.
When it comes to forming a company, the following are the stages you must take:
- Select a legal business structure.
You will need to decide on the sort of company that you will be operating. Depending on your industry, you will need a certain form of company licence.
- Decide on a company name.
The nature of the business must be reflected in the company’s name.
- Identify a local business partner.
If you decide to establish your company on the Dubai mainland, you will need to obtain a local sponsor. Your firm will be controlled by the sponsor, who will own the majority of the stock. If you want to establish your firm in a Free Zone, you may be able to skip this stage.
- Obtain preliminary permission.
Send in your application along with any supporting documentation to get preliminary approval.
- Write the text of your Memorandum of Association (MoA).
In the case of a corporation, the Memorandum of Association (MOA) is a legal instrument that controls the company’s external actions. This will need to be notarized at a court of law in Dubai.
- Make the required payment.
A payment voucher will be sent to you after all of your documentation has been received. If you get a payment voucher, you must pay for your licence within 30 days after obtaining it.
- Register your company with the appropriate authorities.
The Dubai Chamber of Commerce and Industry is the place to register your company.
Keep in mind that, can foreigners start a business in Dubai, depending on your company’s activities, you may need to take extra measures.