Ever wondered how Indian startups like Zomato have ventured outside India? Especially formed a business in Dubai and Abu Dhabi, places which give your business a great boost and a global flavor that takes it to new horizons.
You’re lucky because here’s a list of do’s and don’ts straight from the experts at Commitbiz!
- Be clear about the business activity you want to get into
- Get the right trade partner to help out on working with local authorities
- Identify early on which location you would want to be based out of – this would mean a huge difference with regard to whether you’d want to do things on your own or in partnership with an Emirati entity
- Find the right trade name for your business
- Select the right type of legal form relevant to your business from point 2
- Hesitate to get legal help while setting up your firm
- Skip checking out the latest laws of the land – these may change overnight and land you in a soup if you are not on top of things
- Get impatient and be discouraged from spending more time on things to be done – it’s part of the parcel
You need to follow all the advice mentioned above, and we will make things even more simple for you by being with you every step along the way and ensuring you take the right decisions and making a strong case for your success in UAE!
1. Why it is necessary to avail of professional aid in the UAE?
It is because even if you are aware of the company incorporation rules, going through the entire procedure single-handedly becomes challenging. So, it is advisable that you work under the guidance of an expert.
2. Which are the suitable locations for a UAE startup?
You can choose the mainland or the free zones according to your requirements.
3. What are the corporate structures available for a UAE mainland company?
You can choose from the following:
Public joint-stock company
Limited liability company
Private limited company
Branches, representative offices, and regional headquarters of foreign companies.
4. Can a trading name contain the owner’s initials or an abbreviation for a business in UAE?
You can use your full name, but no abbreviations are allowed. For example- ‘William Jones LLC’ is valid but ‘W. Jones LLC’ or ‘William J LLC’ or ‘Jones LLC’ is invalid.
5. Which authority issues a license for a startup business in UAE?
For the mainland, you must obtain a license from the Department of Economic Development and in the case of a free zone, you need to get the license from that respective free zone authority.