Open Your Company on the Mainland in Dubai, UAE
How to Open Your Company on the Mainland in Dubai
The first step is to identify the exact business activity / activities that you will be into. There are about 2100 different commercial activities listed by the Department of Economy and Tourism, Dubai. A Local Sponsor is not required for around 1200 of them.
The Local Sponsor, who will own 51% of the company, must be an Emirati (this is the term used to refer to citizens of the United Arab Emirates) male or female aged 21 years or above. Alternatively, the Local Sponsor could be a company incorporated in the United Arab Emirates that is 100% owned by Emiratis. The Local Sponsor represents your company before all Government agencies and takes a Local Sponsor Fee in return – he/she does not take home 51% of the profits or interfere in the running of your company.
We can also help you draw up the company formation documents that outline the name of the company, the name(s) of the owner(s), and the purpose it is being set up for. We will get these company formation documents duly notarized by a Notary Public so that they have legal validity in the United Arab Emirates. Prior to doing all this, we will run a search to see if the name you have in mind for your company is available or not, so that the process of drafting the company formation documents will not go in vain.
Dubai has strict rules pertaining to company nomenclature. The proposed name of the company – also referred to as trade name – must not contain any religious terms. A first name is permitted to be used only if it is the first name of one of the shareholders in the company. The names of countries and cities are not allowed, but nationalities and the names of geographical regions are. A term like ‘Global’ or ‘International’ cannot be the first part of the company’s name. A business setup consultant can provide more information.
The process of company registration in Dubai also requires a Tenancy Contract or Ejari, so that there can be a registered office address for the company. We will help you find the right commercial space in Dubai (keep in mind that there are strict regulations on usage, such as how an office cannot be used as a warehouse or vice-versa) and enter into a Tenancy Agreement with the owner of the premises. The Tenancy Agreement must subsequently be registered so that it becomes a legally binding Tenancy Contract.
We will also help you obtain all necessary approvals from various Government agencies. If all the paperwork is in order, a Business License is issued in a matter of 2-5 days. With that, you can officially commence operations. We will further assist you to open a corporate bank account in Dubai, so that you can make and receive payments with ease – owing to strict anti-money laundering regulations, opening a bank account in the United Arab Emirates is not as easy as it sounds.
Why Choose Us for Company Formation in Dubai, UAE?
At FlyBiz, we have years of experience helping open companies on the mainland in Dubai, United Arab Emirates. Our team of dedicated professionals speaks multiple languages. They have been handpicked for their expertise in Business Consulting, Tax Advisory, Legal, and Corporate Finance. We have been of assistance to clients from 100 countries across the globe, and we have an excellent client satisfaction rate so far. For more details, please call 055 113 4789 or email info@flybiz.ae