Setting up an investment business in Dubai is not as difficult as you may think. It just needs time, patience, and a lot of capital for funding. The business set up in Dubai is comparatively easy and less complicated compared to those of other countries. So if you are looking to invest some money and start your own business, here are some tips that will help you.
What is the minimum necessary requirement for opening a business in Dubai? In order to open a business in Dubai, there is only a simple agreement that has to be signed between the investors and the company that wish to establish a business venture in Dubai. The individual investor can own 100% ownership to the whole company and its administration. But, a registered agent is also required for preparing the documents and legal agreements for the company’s active operation.
How do I register my company in Dubai? There are many different ways of getting registered in Dubai. First, you can hire an offshore company or an international business company (IBC). You will be provided with all the services needed such as offshore company formation, company registration, etc. These companies also offer professional services such as IBC trademark registration, limited liability company (LLC), etc.
Will an IBC really save me from the legal hassles involved in the process of establishing an international business in Dubai? In Dubai, starting an IBC is not that much different than starting a domestic one. In fact, it is simpler than establishing a local business because all that an IBC needs to do is get a Trade license and apply for an International Business number. Once granted these permits, the company is ready to do business in Dubai.
How can I save costs on business setup in Dubai? One of the best ways to reduce costs in establishing a company in Dubai is to adopt a “services as trade” model. This is a cost-effective option wherein the company formation fee is completely taken by the service provider. The company formation office will then take care of all the other legal formalities required in establishing a permanent business address and holding the copyright. Since the service provider assumes full responsibility for all activities conducted under the name of the client, there is very less likelihood of any legal issue arising during the course of business.
What is the procedure for getting a Trade license? To start off, the company formation office will request legal documentation related to the business operations in Dubai. Such documents include the Articles of Association, business license, property registration, copyright, etc. Once the documents are obtained, the service provider will then apply for the Trade license. The Dubai authorities would require certain requirements in order to grant the trade license including a certified translation of the original documents, the payment of administrative fees, and submission of annual reports on the type of activities conducted within the commercialized areas of Dubai.
What is the procedure of acquiring a Business Set up in Dubai from a UAE national? In order to obtain a business set up in Dubai from a UAE national, you will have to apply for the business license through the Dubai Company Registration Office. You can obtain your business license upon payment of the required fees. After obtaining the business license, all the formalities will be handled by the local sponsor. The local sponsor will handle all the legal matters associated with your business set up in Dubai.
How do I get a Trade visa? Before applying for a business visa, it is essential that you check with the nearest consulate of your country of citizenship to know whether they are accepting UAE expatriates’ visas. If you are eligible for the visa, the representative of the local sponsor will help you in getting a Trade visa. The local sponsor is an individual or a company that has made arrangements with the UAE authorities to provide assistance in establishing your business operations in Dubai. You will be provided with all the relevant information and once you have obtained the visa, you will be able to start trading in Dubai.