CONNECTOR.AE 46 CONNECTOR.AE 47 Lifestyle Lifestyle Your Guide To Setting Up Business In Dubai Dubai, known for its opulence and luxury, is a dream destination for many worldwide. Its status as a tax-free, dynamic city and a melting pot of cultures makes it attractive for both job seekers and aspiring entrepreneurs. If you are planning to start a business in the emirate, Connector is here to help you understand the basics of setting up a business in Dubai. The first and most essential step is to decide where to establish your business and what form it will take. You can set up a company either in mainland Dubai or in one of its 20plus free zones, depending on your needs and requirements. Setting Up Business In Mainland Dubai Companies established on the mainland, outside of free zones, can operate across various sectors and trade with entities within Dubai, the UAE, and internationally. Benefits include the ability to conduct business anywhere in the UAE, access to diverse business visas, and a broader choice of commercial activities. Most mainland companies can retain 100% foreign ownership, though some sectors like oil Documents Needed To register your company, you need to gather essential documents, including copies of the licensee’s passport or Emirates ID and residence permit/visa. Other documents you need include: • The company’s articles of association (not applicable for a one-person limited liability company) • For public shareholding companies and private joint-stock companies, you also need a feasibility study of the project. • For branches of companies based in other emirates, you also need the parent company’s board resolution to open a branch in Dubai, a letter of authorisation from the managing director, a copy of the parent company’s commercial registration certificate and a copy of the parent company’s memorandum of association. Registration Process Obtaining a business licence in Dubai involves three key steps. First is the initial approval, where the Dubai Department of Economy and Tourism (DET) reviews your trade licence application and documents, giving initial approval for your business to be established. This approval allows you to proceed with securing business premises. The second step is to reserve your trade name, business activity, and company structure, following Dubai’s specific rules for exploration, security, banking, insurance, and medical retail may require an Emirati partner. In terms of areas, mainland areas include Business Bay, Sheikh Zayed Road, Bur Dubai, and Deira, among others. Mainland Business Licence And Service Centres Every mainland company requires a license to operate, with five main types available: Industrial, Commercial, Professional, E-Trader, and Dual Licences. Once you choose your licence, you can apply online or through service centres across Dubai. Next, select a legal form that aligns with your business activities, such as General Partnership, Limited Partnership, Limited Liability Company, Private Joint Stock Company, Public Joint Stock Company, Civil Company, or Sole Proprietorship. Some business activities or company types require additional approvals from other government departments. Ensure you can obtain these approvals and meet any conditions they require before setting up your company. You can visit the Department of Dubai Economic Development’s website to find out more about this. Capital Required Setting up a business involves significant upfront investment for office space, licence fees, employee visas, and so on. The capital required varies depending on the business type and legal formation, with the initial capital amount mentioned in the memorandum of association.
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