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Setting up a company in Dubai involves navigating through specific legal requirements and procedures. Whether you’re a local entrepreneur or an international investor looking to establish a business in this thriving metropolis, understanding these legal aspects is crucial for a smooth setup process.
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The first step in establishing a company in Dubai is deciding on the most suitable business structure. Options include:
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Choosing a unique and appropriate trade name is essential. It should comply with the guidelines set by the Department of Economic Development (DED) in Dubai. The name should not violate the public morals or the names of well-known organizations.
For LLCs, drafting the Memorandum of Association (MOA) is mandatory. This document outlines the company’s shareholding structure, business activities, and operational framework. The MOA must be notarized at the DED or through a public notary in Dubai.
Before proceeding further, obtaining initial approval from the DED or the relevant free zone authority is necessary. This approval confirms that your business activities align with Dubai’s legal framework and regulations.
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A physical office space is required for most business setups in Dubai. The location and size of the office must comply with the regulations stipulated by the DED or the respective free zone authority.
Prepare and submit all required documents, including the MOA, lease agreement, initial approval certificate, passport copies of shareholders and managers, and other specific documents depending on your business type. Pay the applicable fees for registration and licensing.
Once your documents are processed and fees paid, you will receive your business license from the DED or the free zone authority. Additional approvals may be required from regulatory bodies depending on your business activities (e.g., healthcare, education).
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If applicable, register your company for Value Added Tax (VAT) with the Federal Tax Authority (FTA) and other relevant taxes as per UAE tax regulations.
To operate legally, open a corporate bank account in Dubai. Banks may require specific documents, including your business license and lease agreement.
Facilitate visa applications for shareholders, employees, and dependents through the General Directorate of Residency and Foreigners Affairs (GDRFA) or the respective free zone authority.
Establishing a company in Dubai involves navigating through a series of legal steps and requirements. Engaging with business setup consultant or legal advisor can streamline the process and ensure compliance with UAE laws. By adhering to these legal requirements, you can set a solid foundation for your business endeavors in Dubai’s dynamic market.