Business Setup in Dubai, UAE
When it comes to business setup in Dubai, the first thing that you need to decide is whether your company will be located on the mainland or in a free zone. If it is intended to be set up as an onshore or mainland company, you may need a Local Sponsor. This is mandatory in all matters of company formation in UAE, and a good business setup consultant can help you out with this part.
There are around 2,100 different commercial activities listed by the Department of Economy and Tourism, and a Local Sponsor is not needed for about 1,200 of them.
The Local Sponsor needs to be an Emirati (this is the term used to address an UAE national, someone who is a citizen of the United Arab Emirates) who has attained the age of 21. It could also be a company incorporated in the United Arab Emirates that is 100% owned by Emiratis. According to UAE law, the Local Sponsor (also referred to as Local Partner) must own 51% of the shares in the company. He/She will legally represent the company before all Government agencies.
So you need someone with experience in company registration in UAE. A company formation expert who has specific experience in business setup in Dubai can put you in touch with the right Local Sponsor for your business. It is to be noted that the Local Partner owning 51% of the shares in the company does not mean he/she will take home 51% of the profits. Things work differently in the UAE. The Local Partner could be compensated for his/her services on a monthly / quarterly/ half-yearly / annual basis, or he/she could take a percentage of the sales.
Alternatively, you could set up your company in a free zone. Free zones are established with specific objectives in mind, and have dedicated infrastructure for the same purpose.
Company Registration in Dubai
If you are a solo entrepreneur (in other words, there is only one business owner), the company has to be incorporated as a Sole Establishment. This is the same as a Proprietorship Firm. If you have a business partner, or more than one, it is recommended that you set up your company as a Limited Liability Company or LLC. The minimum number of owners required for a Limited Liability Company is two and the maximum number is 50. If there are more than 50 shareholders, then you have to register the company as a Private Limited Company.
Only limited liability company structures are allowed in free zones. Not all business activities can be undertaken in free zones, so a consultant specializing in business setup in UAE can help you determine which location – the mainland or a free zone – can be best for your business, as well as advise you on the right company structure for your business.
Need Professional Assistance with Company Registration in Dubai?
The team of experts at FlyBiz have years of experience in company formation in UAE. They can be expected to lend their expertise to everything connected to business setup in UAE. They come from an array of diverse backgrounds such as Legal, Financial, and Management; and so willingly advise you on the right course of approach for company setup in Dubai. For new business setup in Dubai, they can be counted on to assist you all the documentation and the filing process, so that your company registration in Dubai happens smoothly.
If you are looking at options for low cost business setup in Dubai, then FlyBiz is the right business setup company in Dubai for you. They can help you with business formation in Dubai. So for all your needs pertaining to new company setup in Dubai, FlyBiz can ensure that company formation in Dubai is a hassle-free affair. You need not think of any other business setup consultant for availing of business setup services in Dubai.