When looking for opportunities to establish a company in the UAE, there are many conditions and criteria that must be considered. The UAE is considered among the most attractive destinations for businessmen and investors due to its thriving economic environment and flexibility in commercial laws. The UAE provides a suitable environment for establishing various companies, whether local or international, thanks to its advanced and business-friendly legislation. The conditions for establishing a company in the UAE are diverse and differ according to the type of company and its place of establishment, whether in the Emirate of Dubai, Abu Dhabi, Sharjah, or any other emirate. These conditions usually include requirements such as having local shareholders for some types of companies, having a licensed commercial office, and submitting the necessary documents to the competent authorities. With the help of Itqan Company To establish companies in DubaiInvestors can explore the wide opportunities to establish their businesses in a modern and advanced business environment, with effective accompaniment and specialized legal support.

In this article, we will learn about the conditions for establishing a company in the Emirates. The United Arab Emirates is considered one of the most attractive destinations for investments and businesses in the region, as it provides a flexible and supportive economic environment for the growth of companies of all types and sizes. Establishing a company in the Emirates requires compliance with a set of conditions and requirements that ensure the work proceeds in accordance with local laws and help achieve success and sustainable growth.

Conditions for establishing your company in the Emirates

For citizens and foreign investors wishing to embark on the process Opening a company in the Emirates Through government departments, they must do the following:

Determine the nature of the company’s business or activity

This is the first step in opening a company in the United Arab Emirates, which is to determine the company’s economic activity and the nature of its business. The company’s economic activities are divided into six types, which are:

Commercial / Professional / Industrial / Agricultural / Crafts / Tourist

Determine the legal form

This condition depends mainly on the business requirements and the responsible party. It also determines the laws and regulations that must be adhered to and the activity that is permitted to be carried out, provided that the legal form of the company matches the economic activity carried out by the company. You can also choose one of the different legal forms within the Emirates according to the type of activity of your company.

Trade name reservation and registration

It is the name of the store or company that distinguishes the license from others in order to avoid the customer falling into suspicion between licenses. Several conditions must also be adhered to when choosing the company’s trade name, including:

– Do not use the names of government agencies or logos and names of external parties.

The trade name must be followed by the legal form of the company.

– Never use the name of God, such as “Allah” or “Lord,” or any of the other beautiful names of God.

– The name must not contain inappropriate words, and must not violate public taste.

– The company name should indicate its commercial activity.

– The name must not be duplicated or used by another company.

Initial approval

After completing the previous initial steps to establish your company in the Emirates, you can obtain initial approval. Foreign investors must obtain the approval of the General Administration of Residency and Foreigners Affairs before obtaining initial approval.

There are also some private activities that require obtaining approvals from government agencies related to the activity itself before applying for initial approval, such as:

1) Activities related to security agencies and the Securities and Commodities Authority.

2) Activities related to legal matters.

Articles of Association and Local Service Agent Agreement

It requires drafting and signing the articles of association of your company in the Emirates and in some cases concluding a local service agent or company agent agreement, depending on the legal form of the company.

Establishments and companies wholly owned by non-GCC residents require a local service agent from the United Arab Emirates, pursuant to a service agent contract authenticated by a notary public or court.

Choosing a company headquarters

Then comes the step of choosing the headquarters. All companies must have an actual address in the Emirates, and the entrepreneur must present a lease contract certified by the Real Estate Regulatory Authority in the Emirate to obtain the license.

Approvals of the authorities concerned with the company’s activity

There are various activities for companies that require approvals from the parties concerned with the company’s activity, and inquiries can be made about them at the Department of Economic Development in the country, such as the Ministry of Interior, the Ministry of Economy, and the Ministry of Justice, for example, but not limited to.

Issuance of commercial license

And here is the final stage after fulfilling all the previous conditions and documents. It is the turn to receive the commercial license from the service provision centers affiliated with the state’s economy, provided that some of the following documents are submitted for all commercial licenses:

– Approval of other government agencies for the activity if required.

– A duly certified contract appointing the service agent/company agent.

– Receipt of initial approval and all previously submitted documents.

– A copy of the lease contract documentation certificate.

– The articles of association duly certified.

Then, pay the company establishment fees upon issuing the payment receipt within a specific period of time (usually 30 days). We must draw your attention to a very important point, which is that failure to pay will result in the application being cancelled immediately. You can apply to establish your company in person by visiting one of the following offices:

– Service centers.

– On Time Government Services Offices.

– Legal services offices.

– Customer happiness centers affiliated with the economic development departments in all emirates of the country.

Facilitation offices.

Types of companies in the UAE

Establishing a company in the UAE is considered a strategic and important step for many entrepreneurs and investors, due to the thriving economic environment, clear legislation, and facilities provided by the government to new companies. The UAE is located in the heart of the Middle East and is considered a major financial and commercial center worldwide, making it an ideal destination for business and investment.

Establishing your company via the Internet

Working with Etqan to establish your company in Dubai through the Internet can be a smart and time-saving step. Through this cooperation, you can complete many steps online efficiently, such as submitting applications, providing necessary documents, and communicating with the relevant authorities.

Here are some of the services that Etqan may offer to help you set up your company in Dubai online:

• Company formation consulting: Providing advice on the steps required to establish a company, and determining the appropriate type of company and the optimal location.
• Document arrangement: Assisting you in arranging and preparing the documents required to establish the company, such as passports, legal documents, and agreements.
• Submitting applications and transactions: Submit applications for the necessary licenses and permits online, and follow up on the progress of transactions to obtain the necessary approvals.
• Communication with government agencies: Communicating with the relevant government agencies and representing you in the legal and administrative stages to facilitate the process of establishing the company.
• Help with choosing a location: Providing advice on choosing the appropriate location for company establishment, whether within free zones or on the mainland.
• Follow-up and support: Follow up on the progress of the process and provide the necessary support during all stages to ensure the success of the company establishment process.

Through this cooperation, you can benefit from the experience of Itqan Company in the field of Company formation in Dubai And exploit the full potential of the Internet to facilitate the process of establishing your company in an effective and easy way.

Business licenses in Dubai

There are several types of Business licenses in Dubaiand varies depending on the type of business activity and the company’s requirements. Here are some common types of business licenses in Dubai:

• Commercial Trade License: Allows companies to engage in any general, unspecified commercial activity, such as trade, distribution and services.
• Industrial License: It allows companies to manufacture and produce goods and products in industrial facilities.
• Wholesale Trade License: Allows companies to sell goods in bulk to retailers and distributors.
• Retail Trade License: Allows companies to sell goods directly to end customers in stores and malls.
• Professional Services License: Allows companies to provide specific professional services such as legal, medical or engineering advice.
• Free Zone License: It allows companies to establish and operate in specific free zones within Dubai, and enjoy specific tax, customs and financial privileges and facilities.

Direct investment in Dubai

Investing in Dubai It is the process of directing funds and resources to direct economic projects and activities within the Emirate of Dubai. Dubai is considered an important investment destination on the global level thanks to its advanced economic environment and the opportunities and advantages it provides that attract investors. Important aspects of direct investment in Dubai include:

• Strategic sectors: Dubai has investment opportunities in several economic sectors such as real estate, infrastructure, tourism, trade, technology and innovation.
• Suitable investment environment: Dubai provides a favorable investment environment thanks to the availability of advanced infrastructure, flexible laws and government support for investment projects.
• Facilities and incentives: The Dubai government offers facilities and incentives to investors such as tax exemptions, low fees, and assistance in obtaining licenses and permits.
• Distinguished geographical position: Dubai’s prime location on the world map and the presence of Dubai International Airport as a major transportation hub attracts companies and investors.
• Cultural and commercial diversity: Dubai has a cultural and commercial diversity that makes it a hub for international business and trade.
• Technology and Innovation: Dubai is focused on developing innovation and technology, creating new opportunities in areas such as fintech and artificial intelligence.

It is important to have careful study and good financial and legal support before embarking on direct investment in Dubai, and to benefit from local expertise and specialized advice to ensure the success of the project and its compliance with local laws and regulations.

To open a bank account to establish a company in Dubai in cooperation with Itqan Company and obtain security approval, the following steps can be followed:

1. Contact Itqan Company for advice and assistance in opening a bank account, as they can direct you to the appropriate banks and help you complete the necessary procedures.
2. Determine the right bank In cooperation with Itqan, select the right bank that meets your needs and requirements for opening a bank account for your company in Dubai.
3. Prepare and submit the required documents to open a bank account, such as passport, personal documents, company documents, and any other documents required as per the bank’s requirements.
4. After submitting the documents, the bank may require security approval from the relevant authorities in Dubai, and this process takes a certain time depending on the bank’s policy and legal regulations.
5. After obtaining security approval, your company’s bank account is opened at the specified bank, and you can then start managing your company’s finances with ease.

It is always advisable to contact directly with Itqan Company The specific bank for accurate and up-to-date guidance on the procedures and requirements for opening a bank account and obtaining security approvals in Dubai.

Frequently asked questions about establishing a company in the UAE