Steps to Start your Business in Dubai Mainland

by commitbizadmin 16, Jul 2020

Steps to Start your Business in Dubai Mainland

Dubai is said to be the business city of the Middle East region, and this is the only city in the UAE which is equipped with world-class infrastructure. It is known as the ‘City of Gold’ and provides enormous business opportunities and innovative-based commercial modules for enterprises around the world. The transnational exposure, the economic upsurge, the inventiveness of commercial prospects, and the investor-friendly government are some of the factors that have motivated businesspersons from around the globe to open a business in Dubai.

There are many aspects to be taken into consideration before opening a business in mainland Dubai. And, regardless of a welcoming approach and easy-to-understand business registration procedures, it could be difficult for a foreign entity to understand the procedure of incorporating a business in Dubai. That is where we come into the picture. We at Commitbiz can help you right from business incorporation to providing office space.

How to Setup a Company in Dubai Mainland?

The Department of Economic Development (DED) in Dubai is the regulatory authority that takes care of business registration activities. Here are the steps to start your Dubai mainland business.

1. Choose a Business Activity

Understanding the business, you would like to start, and imposing the required knowledge for the same is vital. Businesspersons are generally confident about the business activity they would practice; however, consultants at Commitbiz can help you to comprehend the practicability of your business in Dubai.

2. Choose a Business Entity

Determining the corporate entity of the company is also an important task. You may opt for a Dubai LLC, get into a partnership in commendams, general partnership, joint venture, public shareholding, private shareholding, or shared partnership, whatever you choose, it must be unified to your business operation and opted jurisdiction.

3. Get a Local Sponsor

It is essential to appoint a local sponsor for your business in the mainland. The local sponsor will own 51%, i.e., the maximum number of shares in the business, and the remaining 49% will be owned by the businessperson.

4.Trade Name and Business Activity Approval

The authority needs to approve of the name and activity of your business. In terms of Dubai, the Department of Economic Development (DED) provides approvals. You must also choose the type of business activity for your company, which will help in getting your business license.

5.Draft a Memorandum of Association (MOA)

Memorandum of Association (MOA) is yet another vital document that specifies the share of limitations and liberty every partner with the company is subjected to. Memorandum of Association must be drafted because they are mutually expected by all the partners in the presence of a legal expert.

6. Get External Approvals

To start a business in Dubai, it is also essential to get approval, certifications, and documentation done through non-governmental as well as semi-governmental bodies. Also, the Department of Economic Development in Dubai (DED) demands external approvals to process the company registration as well as to generate a business trade license for the company.

7. Get an Office Space

Having a physical office is mandatory for establishing a company in the Emirate, and the tenancy agreement needs to be documented and submitted with the DED in advance. As per the governmental requirements, Commitbiz aids with the best places to rent an office in Dubai; drafts the agreement, the tenancy contract as well as gets the needed documents notarized.

8.Obtain your Business License

The Dubai business registration and business licensing is a parallel procedure. Once the company is registered by the DED or the noted Dubai free zone authority, the business license will be processed and could be collected duly.

Regardless of this process, several documents may require depending on the business shareholding structure and the activity the company is set to perform.

The documents required to register your business in Dubai are –

  • Draft the Memorandum of Association
  • Completed license application
  • Attested LLC agreement and the governmental forms
  • Name reservation certificate
  • Initial approval certificate
  • External departments approval
  • Tenancy contract
  • EJARI registration certificate
  • Passport copies partners and NOC for partners (if any)
  • Dubai Chamber of Commerce and Industry Registration

We at Commitbiz can help you with your business registration process in the UAE. Our consultants have years of experience in this field and can make the process hassle-free. Contact us today for more information.