Dubai is the most attractive destination for investments and startups in the region. With its business-friendly environment and attractive incentives, Dubai is the ideal choice for those looking to establish a new company and grow their business. However, setting up a company in Dubai may seem complicated to some due to the different regulations and requirements.

This is where hiring a trusted consulting firm like Itqan comes in to simplify the incorporation process and ensure full compliance with local regulations. In this article, we’ll explore the key steps. To establish a company in Dubai In collaboration with the specialized team of Etqan, including choosing the appropriate legal form, obtaining the necessary licenses, and managing operational requirements. We will also provide an overview of the incentives and benefits offered by the Dubai government to foreign investors and startups.

How to establish a company in Dubai

Dubai is the preferred destination for many entrepreneurs and startups thanks to its attractive business environment and generous government incentives. However, Company formation in Dubai It may seem complicated due to the many regulatory requirements and formalities required. This is where working with a reliable consulting firm like ours comes in to simplify the process. Here are the main steps to set up a company in Dubai:

Choosing the legal form of the company:

1. You may choose a limited liability company (LLC), a public joint stock company (PLC), or other options.
2. You should seek advice from experts to determine the most appropriate structure for your business.

Determine the required capital:

1. Capital requirements vary depending on the type of company.
2. There is the possibility of obtaining funding from local institutions if necessary.
3. The company’s location should be carefully chosen to suit the nature of your business.
4. Dubai’s free zones may be an attractive option for foreign companies.

Complete registration procedures and obtain licenses:

1. Itqan team will assist you in obtaining all necessary licenses and approvals.
2. This process can be complex, so seeking the help of experts is essential.
3. Itqan will provide you with the necessary services such as human resources, accounting and administration.
4. This will allow you to focus on growing your business without worrying about administrative tasks.
5. With Etqan, you will be able to set up a company in Dubai easily and in the shortest possible time. Their team will provide you with the expertise and support needed to ensure full compliance with local regulations and launch your business successfully.

Licenses required to establish a company in Dubai

There are several basic licenses required to establish a company in Dubai:

Business License:

1. This license is the basis for operating a company in Dubai.
2. Issued by the Department of Economic Development in Dubai.
3. It must be obtained before starting any business.

Activity License:

1. This license defines the nature and scope of the company’s activities.
2. Issued by the competent government agency according to the type of activity.
3. For example, a professional, industrial or commercial license.

Additional licenses depending on the activity:

1. Some businesses may require additional licenses.
2. Such as import/export licenses or environmental licensing.
3. These requirements depend on the nature of the company’s business.

Location License:

1. If your company is based in a free zone, you will need a license from the free zone authority.
2. If the headquarters is in an area outside the free zones, you will need approval from the municipality.
3. The company may require licenses for some employees, such as regulated occupation licenses.
4. This depends on the nature of the jobs and activities in the company.
5. The Etqan team can assist in obtaining all these licenses smoothly and in the shortest possible time. They will ensure that the company is fully compliant with the regulations and laws of Dubai.

Documents required to establish a company in Dubai

To establish a company in DubaiThe documents required usually vary slightly between different types of companies and between local and foreign clients. However, there is a general list of documents that are usually required when setting up a company in Dubai:

1. Copy of the passport of the shareholders and directors: A copy of the passports of all shareholders and directors concerned with the company must be submitted.
2. Photocopy of proof of residence: A photocopy of valid proof of residence for all relevant shareholders and directors must be provided. This could be an Emirates ID or passport with proof of residence.
3. A copy of the company’s articles of association: A copy of the company’s articles of association or memorandum of understanding must be submitted. The articles must include basic information about the type of company, its objectives, shareholdings and details of the directors.
4. Power of attorney: If there are agents acting on behalf of the shareholders or directors in the incorporation proceedings, a legal power of attorney certified by an authorized attorney may be required.
5. Company Address: A valid business address must be provided for the company. This can be a virtual office address or a physical office address in an approved business district in Dubai.
6. Additional Business Information: You may be asked to provide some additional business information such as a business plan, projected financial reports, a description of the company’s activity, and other information related to the company.
   It should be noted that this is a general list and requirements may vary depending on the type and legal nature of the company and Dubai legislation. Therefore, it is advisable to check the current requirements for company formation in Dubai with Itqan Specialists before starting the process.

Types of companies in Dubai

There are several types of companies that can be formed in Dubai. Below is a table showing some of the common types of companies that can be formed in Dubai and general information about each type:

It should be noted that these are just some of the common types of companies in Dubai, and there may be other types available as well. Before deciding on the type of company you want to set up in Dubai, it is recommended that you consult with Itqan Company for accurate guidance according to your individual circumstances and business requirements.

How to open a bank account in Dubai

Research and explore to find out which banks in Dubai suit your needs. Compare banking services offered, requirements, and banking fees. To open a bank account in DubaiYou can follow these steps:

• Collect the required documents: Contact your chosen bank and inquire about the documents required to open a bank account. Personal documents usually include a passport, a copy of proof of residence, and a bank account application form.
• Fill out the form and submit the documents: Fill out the bank account opening application form and submit it to the bank along with the required documents. You can submit the application in person at a bank branch or online, depending on the bank’s policy.
• Personal meeting: The bank may require a personal meeting with you to verify your identity and learn more about your proposed banking activities.
• Bank deposits: After your account opening request is approved, you will need to deposit the necessary funds into the new account. The minimum deposits are determined by the bank’s policy.
• Receiving ATM card and checkbook: After making the deposits, you will receive an ATM card and checkbook from the bank, which will be used for future banking transactions.
  It should be noted that these steps may vary slightly from one bank to another, and additional documents may be required depending on the internal policy of each bank. Therefore, it is advisable to contact the specific bank with which you wish to open a bank account and inquire about the exact requirements and procedures required.

Tips for starting a company in Dubai

First, do your research and analysis well before starting the process. Company formation in Dubai. Research the local market, feasibility studies, economic trends, and competition in the sector you want to invest in. Create a detailed business plan and identify the goals and needs necessary for the company to succeed. Here are some tips that can help you set up a company in Dubai:

Consult local specialists:

It is advisable to work with local legal and financial advisors to get appropriate advice. They will help you understand local laws and regulations, administrative procedures, and best practices for establishing and operating the company.

Choosing the right legal structure:

Determine the appropriate legal structure for your company in Dubai. You can choose between a Local Company, a Free Zone Company or an Offshore Company, depending on your business needs and requirements.

Obtaining the necessary licenses:

Check the licenses and permits required to operate your business in Dubai. You may need licenses such as a company license, a building license (if you are planning to build), health and safety licenses, and tax and customs licenses.
Also, set up a strong and regular accounting system for the company and ensure compliance with local accounting and tax laws. You may need to hire a professional accountant or use external accounting services to help manage financial and tax affairs.

Employment and employment:

If you plan to hire local or foreign employees, you need to comply with local laws and regulations regarding labor and immigration. Make sure that all necessary procedures for legal employment are completed and that qualifications are balanced with practical needs. You may need to establish a professional and multidisciplinary team to ensure the smooth and efficient operation of the company.

Communication with government agencies:

Communicate directly with relevant government agencies, such as the Department of Economic Development, the Ministry of Commerce and Industry, and the General Tax Authority. Inquire about requirements, procedures, and deadlines, and ensure compliance with all local standards.
Dubai also has advanced infrastructure and modern facilities that facilitate business operations. Take advantage of these advantages and explore the opportunities available to businesses, such as free zones and special commercial zones.

Building a network:

Build a strong network of business contacts in Dubai. Attend industry exhibitions and conferences, participate in trade events and community activities. Network with local and international business people and benefit from their expertise and knowledge.

In conclusion of this article, we can say that Company formation in Dubai It represents an exciting opportunity for investment and success. However, it requires good planning and knowledge of local laws and regulations. You must be prepared to face challenges and work hard to achieve your goals.

Dubai offers advanced infrastructure and modern facilities, as well as a strong and diverse market that offers promising business opportunities. Take advantage of the advantages of free zones and investment-friendly government policies to facilitate the success of your company.

Don’t forget the importance of local consultation and communication with relevant government agencies. Take advantage of the expertise of local advisors and consult them regarding local laws, procedures and requirements. This can help you avoid potential problems and achieve full compliance with legal procedures.

Frequently asked questions about establishing a company in Dubai