Why Set Up a Company on the Mainland in Abu Dhabi?

Abu Dhabi is the capital of the United Arab Emirates. It has officially been named as the richest city in the world; and the 420,000 Emiratis who live in Abu Dhabi have been valued at $17 million each. Collectively, they hold more than $1 trillion in assets abroad. Abu Dhabi has a Gross Domestic Product of $249 billion and it is home to a population of 2.9 million, which is the second highest in the United Arab Emirates. Purchasing power is relatively high in Abu Dhabi, with an average annual income of $96,000

You can see why business setup in Abu Dhabi makes sense. Only 40.8% of Abu Dhabi’s GDP is made up by oil revenues. The rest comes from trade. About 97,874 business licenses are issued / renewed every year. The fact that Abu Dhabi is the capital city of the United Arab Emirates means that almost all Government-run companies have their headquarters here. For example, Abu Dhabi National Oil Company or ADNOC is a $60 billion company. Contracts with Government agencies are a highly lucrative affair.

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Abu Dhabi also has enough infrastructure of its own to support non-Government trade. It has two international airports, and four major seaports in the form of Port Khalifa, Port Zayed, Port Mussafah, and Free Port. The Abu Dhabi Investment Authority is the third-largest sovereign wealth fund worldwide. Many of the proceeds from oil are reinvested back into the economy, supporting infrastructure development projects as well as Emirati businessmen and businesswomen. So there is a lot of scope for trade here.

How to Open a Company on the Mainland in Abu Dhabi

The first step is to have a business plan that complies with the laws of Abu Dhabi. There are 1105 commercial and industrial activities permitted by the Abu Dhabi Department of Economic Development or ADDED. An experienced business setup consultant can help you figure out the right business activity / activities from the list and apply for a business license. If all the documentation is in order, you can expect to be issued a business license in a matter of a few working days.

List of Documents Required for Opening a Company in Abu Dhabi

These must be submitted for every individual shareholder in the company.

Before you apply for a business license, you need to establish your company. This is so that the Business License – also known as Trade License – can be issued in the name of the company.

A Company Setup in Abu Dhabi consultant can help you draw up the company formation documents which specify the name of the company, the name(s) of the owner(s), and the reason why it is being set up. These documents must also be notarized by a Notary Public so that they become legally valid in the United Arab Emirates.

There are strict rules pertaining to company nomenclature in the United Arab Emirates. For instance, you are not allowed to have religious terms or the names of countries / cities in the trade name of your company. However, nationalities and the names of geographical regions are permitted. A first name may be used only if it is the first name of one of the shareholders in the company. The name of the company cannot begin with terms like ‘Global’ or ‘International’ – these may be used elsewhere in the trade name.

Sometimes, additional approvals from various Government agencies may also be required. A business setup consultant will help you with Company Setup in Abu Dhabi and can help you with everything, which is why it is recommended that you have one in your corner. He/She will also help you find the right commercial space for your company, assisting you with everything related to the Lease Agreement. Furthermore, he/she will help you open a corporate bank account for your business, which is not an easy affair in the United Arab Emirates.

Why Choose an Experienced Company Formation Specialist?

FlyBiz is a Company Setup in Abu Dhabi that has offices throughout the United Arab Emirates.  They have years of experience helping establish companies on the mainland in Abu Dhabi. Their team of experienced professionals comprises of those with industry expertise in Business Consulting, Tax Advisory, Legal, and Corporate Finance. They have been of professional assistance to clients from 100 countries around the world so far. For more details, please call +971 55 113 4789 or email info@flybiz.ae