Looking forward to starting a business in Dubai? The first step for this is to decide the type and place of business you are going to start. It is due to the fact that there are two types of business areas in Dubai. They are mainland and free zones. The rules and regulations in these two areas are different all over the United Arab Emirates irrespective of the emirates.
Steps for business set up in Dubai
Unlike earlier, now set up new business in UAE is not that complicated. With an expert opinion, you can start your new venture in Dubai. Here are some of the important steps for setting a business in Dubai
Nature of your business
Before going for further proceedings you should decide the business type because the free zones will not allow all types of business. For instance, some free zones allow health care and some other allows export and imports. If your business relies on medical, health care, and son on you should choose the freezone accordingly. The approval of your business is given by the authorities, but before submitting the documents you should be very clear in this area to avoid unnecessary delay.
Company name
In the United Arab Emirates, there are some restrictions for naming a business. It should not include any offensive languages. If you want to put a name before your business, that person should be the partner or owner of the venture and the full name of that person should be mentioned without any abbreviation or initials.
Finalize the paperwork
You should submit your application to the government authorities with the passport of all the shareholders. In case if you are under the sponsorship of some others they will ask you for additional documents such as No Objection Certificate stating that they do not have an objection to start another business in the UAE. It is better to seek expert advice before submitting the documents. The business consultants in Dubai will help you to go through the formalities to start the business regardless of whether it is in the mainland or freezone.
License approval
This is the easiest step in setting business in Dubai. Once you finished submitting all the relevant documents the government will issue a license. If you are going through a consultant they will inform you when it is ready to collect.
Opening a bank account
After getting the license you can go for the bank account. As you all know the UAE is home for so many local and international banks such as ADCB, Emirates NBD, and HSBC, etc. For opening an account you can go directly to the bank or approach your consultancy for a better opinion. They will guide you to choose the perfect bank for you.
Getting a visa
The final procedure for the business set up is the processing of visas. You can apply for your own and also your dependents. It is better to seek the opinion of an expert while taking a visa for your staff and dependents. They will guide you to check whether it is possible for your spouse, child or any others are eligible for applying for the visa. After getting over all these you have to go for the medical fitness test, emirates id registration. The number of visas you will get depends upon the freezone you are choosing.
At first glance you can feel that the procedures to set up new business in UAE are very simple. But if you are a fresher it is better to seek advice from experts. They will guide you properly to go through all the government formalities and further proceedings.
