Dubai is one of the world’s leading business and investment destinations, providing an ideal economic environment for emerging and ambitious companies. Thanks to its strategic location, advanced infrastructure, and flexible legislation, Dubai has become a hub for attracting investors from all over the world. Establishing a private company in Dubai It provides business owners with many opportunities to grow and expand in a dynamic and evolving market. In cooperation with Itqan Company, you can get the necessary support to establish your company with ease and convenience. Itqan provides integrated services that include legal consultations, administrative procedures, and technical support, ensuring that your company is established correctly and quickly. Itqan makes it easy for you to overcome potential challenges and obstacles, allowing you to focus on developing your business and achieving your investment goals in Dubai, the city that knows no impossible.

Why start your business and company in Dubai?

Whatever your budget and financial capacity, you can start a business, trade or provide services in the Emirates due to the different living conditions, requirements and expenses, and the different costs of establishing companies between each emirate and between the types of companies available.

It is noticeable in the Emirates, especially Dubai, the high population density and the constant flow of people, whether they are capitalists, investors or skilled workers, which led to many needs for different projects and an increase in demand for products and services, so it is the best place to start your business or industry or provide your services in it, as users and the public are present. The Dubai government supports entrepreneurs and investors and facilitates all services and needs to start a business or activity in Dubai.

Steps to establish a private company in Dubai

Company formation in Dubai It requires following a number of important steps to ensure compliance with all local laws and regulations. Here are the basic steps to set up a private company in Dubai:

1. Specify the business activity: You must determine the type of business activity you wish to engage in, whether commercial, industrial or professional. Licenses and procedures vary depending on the chosen activity.
2. Choosing a trade name: You must choose a suitable trade name for your company and adhere to the terms and standards set by the Dubai Economic Development Department (DED). The name must be unique and not conflict with other trade names.
3. Determine the legal form of the company: You can choose the appropriate legal form for your company such as a limited liability company (LLC), a private joint stock company, a branch of a foreign company, etc.
4. Submit a license application: Submit an application for a commercial license from the Department of Economic Development (DED) or the competent authority in the free zone if your company will be located within a free zone.
5. Preparing the articles of association and bylaws: You must prepare the company’s articles of association and memorandum of association and notarize them with a notary public. The memorandum must include details of the partners, percentage of shares, rights and duties.
6. Obtaining initial approvals: You may need to obtain initial approvals from the relevant government authorities depending on the type of business activity.
7. Rent an office or workspace: You must rent an office or workspace suitable for your business. Authorities may require you to submit a lease agreement as part of your licensing requirements.
8. Open a bank account: Open a company bank account in one of the local banks in Dubai.
9. Submitting final documents: Submit all required documents and papers, including the lease contract, articles of association, and bylaws, to the Department of Economic Development or the competent authority to issue the final license.
10. Get a license: After reviewing all documents and papers, the competent authority will issue the commercial license, allowing you to officially start your business.

By following these steps, you can establish your own company in Dubai and take advantage of the promising investment opportunities in this thriving market.

Costs of establishing a private company in Dubai

Company formation in Dubai It requires taking a number of steps and meeting a set of requirements, which come with different costs depending on the type of business activity and the legal form of the company. In cooperation with Itqan Company, you can get the support and guidance necessary to establish your company easily and smoothly. Below is an overview of the costs that you may face during the establishment process:

1. Registration and licensing costs: The costs include submitting applications and obtaining the necessary licenses from the competent authorities such as the Department of Economic Development (DED) or the Free Zone Authority.
2. Trade name costs: Fees for registering the trade name and verifying that it does not conflict with other trade names.
3. Legal Contract Costs: The costs include preparing and documenting the company’s articles of association and memorandum of association, in addition to the notary’s fees.
4. Office rental costs: Fees for renting office or commercial space suitable for your business, which may vary based on location and space required.
5. Costs of opening a bank account: Bank account opening fees and other banking requirements may apply.
6. Government services costs: Includes fees for obtaining initial approvals from the relevant government authorities based on the type of business activity.
7. Insurance costs: Business insurance fees, which may be required for some businesses to ensure compliance with local laws.
8. Technical support and consulting costs: Fees for technical support services, legal and administrative consultations provided by Itqan Company to ensure that your company is established correctly and effectively.
9. Translation and documentation costs: Includes translation and notarization fees for official documents if required.
10. Additional costs: Additional costs may include membership fees to chambers of commerce or professional associations if required.

Itqan Company helps you estimate these costs and provides the necessary support to reduce obstacles and speed up the establishment process. By benefiting from their expertise, you can focus on growing and developing your business while the Itqan team handles the legal and administrative procedures and requirements.

Advantages of establishing a private company in Dubai

Company formation in Dubai It comes with many advantages that make it one of the best global destinations for business and investment. Here are some of the notable advantages of setting up a private company in Dubai:

• Strategic location: Located at the heart of the world, Dubai is a gateway between East and West. This unique geographical location facilitates access to global markets and offers great business opportunities.
• Advanced business environment: Dubai offers a fully integrated and advanced business environment that includes modern infrastructure, advanced logistics services, and world-class facilities, which contribute to enhancing the efficiency of business operations.
• Encouraging tax system: Dubai has a favourable tax regime that includes no personal income tax, low corporate tax, and no dividend or capital gains tax.
• Simplified establishment procedures: Dubai offers easy and fast procedures for establishing companies, in addition to government support and initiatives that make it easy for foreign investors to establish their businesses with flexibility and speed.
• Full ownership for foreigners: Dubai allows foreign investors to have full ownership of their companies in many free zones, giving them complete control over their business and profits.
• Economic diversity: Dubai is characterised by the diversity of its economic sectors, which provides wide opportunities for investment in areas such as trade, tourism, real estate, technology, and finance.
• Political and economic stability: Dubai enjoys strong political and economic stability, providing a safe and stable business environment and encouraging long-term investment.
• freedom of tradeDubai is a member of many international trade agreements and enjoys freedom of trade, making it easier for companies to access global markets and benefit from strong trade relationships.
• Advanced banking and financial services: Dubai offers a sophisticated banking and financial system that includes a wide range of financial and banking services that support business growth and help finance projects.
• Digital infrastructure: Dubai is investing heavily in developing digital infrastructure and information technology, making it a leading hub for innovation and technology.
• Accommodation opportunities: Establishing a company in Dubai provides opportunities for obtaining residency visas for investors and their families, making it easier for them to live and work in a safe and prosperous environment.

Establishing a private company in Dubai In cooperation with Itqan Company, you are guaranteed to benefit from these advantages and others, as Itqan provides the necessary support to overcome challenges and achieve success in the dynamic business environment in Dubai.

Papers to establish a company in Dubai

Establishing a private company in Dubai A set of papers and documents are required to ensure compliance with local laws and regulations. Below is a list of the documents typically required to set up a private company in Dubai:

• License application form: Filling out the license application form from the Department of Economic Development (DED) or the competent authority in the free zone.
• Copies of passports: Provide copies of passports for all partners, founders and directors.
• No Objection Certificate (NOC): If one of the partners or managers is a resident of the UAE, he may need a No Objection Certificate from the current sponsor.
• Copy of lease agreement: Certified lease contract for an office or commercial space from the Dubai Real Estate Regulatory Authority (RERA).
• workplan: Submit a detailed business plan that outlines the company’s activities, objectives and management structure.
• Articles of Association and Bylaws: Preparing and documenting the company’s articles of association and memorandum of association, which clarify the distribution of shares among partners, rights and duties.
• Initial approval: Obtaining initial approval from the relevant government authorities based on the type of business activity (some additional documents may be required depending on the activity).
• Photograph: Passport size photograph of all partners and directors.
• Experience Certificates: In some cases, you may need to provide certificates of professional experience related to the company’s activity.
• Financial documents: Provide some financial documents such as a bank statement or capital certificate if required.
• Documentation of papers: Some documents may require notarization by a notary public or the relevant government authorities.
• Power of attorney: If you are going to use an agent to establish the company on your behalf, a certified power of attorney must be provided.

Itqan can help you prepare and compile all these papers and documents, and ensure they are properly submitted to the relevant authorities to speed up the incorporation process. With the expertise and support that Itqan provides, you can be sure that your company will be ready to launch as soon as possible.

What are free zones and what are their advantages?

Dubai Free Zone In general, they are commercial zones created by countries with the aim of increasing trade movement and attracting domestic and foreign investments. The country offers great commercial incentives to investors, the possibility of owning land and many tax and customs exemptions with the aim of stimulating the movement of labor, establishing companies and attracting capital.

As for the UAE, it began establishing the first free zone in 1985 when it established the Jebel Ali area, which was the nucleus for setting the basic standards for establishing such areas in the UAE. On this basis, dozens of free zones have been established so far, and the UAE, and the Emirate of Dubai in particular, have become one of the most important leading cities in this field.

One of the most important advantages offered by the Emirate of Dubai in particular and the UAE in general is that it has become possible for foreign investors to own lands and companies in full, after it was previously required that an Emirati citizen own a total of 51% of the company.

The UAE also provides in the free zones the freedom to choose workers without being bound by the usual rules and laws of sponsorship and employment. Not only that, but investors in the UAE free zones have tax exemptions on exports and imports, and they have special tax treatment and various customs exemptions. Since the Jebel Ali Free Zone, distinct free zones have been established in Dubai and the UAE in general, and the fields in which the free zones were established have diversified to meet the needs of their development.

In conclusion, it represents Establishing a private company in Dubai A strategic step towards achieving success and growth in one of the fastest growing markets in the world. Dubai offers you a favorable business environment that combines a strategic location, advanced infrastructure, and a flexible legal framework, which contributes to enhancing the chances of success for your projects. Cooperating with Itqan Company can facilitate the establishment process by providing specialized consultations and technical support necessary to overcome challenges and legal and administrative procedures smoothly. By choosing Dubai as the headquarters of your private company, you will have laid a solid foundation for a bright and sustainable professional future, benefiting from the many advantages that this global city offers to investors and entrepreneurs.

Frequently asked questions about establishing a company in Dubai