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Process and Key Steps for Company Setup for New Business

Process and Key Steps for Company Setup for New Business

Dubai is known to be one of the commercial hubs of UAE. It is a major attraction for the small entrepreneurs all over the world. It is a nesting place for leading companies that want to expand. You need to do a proper research before company setup in Dubai. It is important to get good results in future.

Common Steps for Business Formation in Dubai

Type of Business
The type of your business would determine what kind of license you need. Whether it is professional, industrial, or commercial, it would define the basis of your operations. Remember that a few activities such as jewellery trade, food trading, legal consultancy, etc. need further approvals from the other governmental departments. In Dubai, the Department of Economic Development (DED) has a list of over 2100 different activities you can choose from.

Ownership
Choose from a location and license in one of the free zones of Dubai to have 100 percent ownership as a foreign national. There are many types of activities that each free zone caters to.

Legal Form
There are a few rules about the make-up of your business that depends on your type and location of the business. You need to follow those rules to avoid any legal issue.

Trade Name
The trade name is an essential part of the legal procedure. The company must ideally indicate the nature of your business.

Premises
Once your forms and legal procedures ready to go, shortlist some offices with their costs and other necessary details. It would mean a clear path forward after you would be done with your legal formalities.

Employees
You need to hire managers to oversee operations according to most legal forms of DED. You might not be allowed to hire in other few cases.

Local Support
It is compulsory to have a local partner, sponsor, or agent and it is a great support for foreign nationals. Having a local contact might help to take your business forward effectively for free zones. However, this is not mandatory. Dubai as a business destination boasts simple and easy setup for all business people regardless of their nationality.

Apart from all the opportunities and encouragement, the company setup in Dubai might be tedious and complex. Thus, it is always better to hire the consultants. Goldman Consultancy offers well-experienced professionals and experts who assist you at every step of company formation. They offer you excellent services at a very reasonable cost. Please contact our consultants for Company Setup information in Dubai.