There are broadly three main business establishment types in Dubai, UAE.
· Mainland Business Setup in Dubai
· Freezone Business Setup in Dubai
· Offshore Business Setup in Dubai
Also, there are three main business licenses for company registration in Dubai, UAE.
· Commerical License
· Industrial License
· Professional License
What are the steps involved in the Company Registration Process in Dubai?
1. Choosing the right business activity
Choosing the right business activity is a very critical step in the business setup process. The chosen business activity determines future business sustainability and growth prospects. Also, based on the business activity, the business location is chosen and the total cost of business setup varies accordingly.
2. Finalizing the company name
Ensure the tradename passes all the regulatory requirements. UAE is strict on certain trade names that hurt public sentiments.
3. Submit all documents
All documents related to the new company formation in Dubai is to be prepared correctly and submitted to the government authority along with the fees for each service.
4. Receive License notification
if the documents submitted are complying with the regulations, the authorities will issue the trade license.
5. Open a bank account
Once you receive the trade license. A corporate bank account can be opened. The required paperwork varies according to the chosen bank.
6. Visa Processing and Immigration
At this stage, you can proceed with the visa processing as per the allowed quota. Medical fitness, preparing labour contracts, immigration clearance, etc.
7. Visa stamping- The visa stamping in the stakeholder passports is the last step. Now the business is a legal entity and can start operation in the UAE complying to the business policies and guidelines.
The company registration process requires to obtain various clearances from the Freezone Authorities, Chamber of Commerce, Labour & immigration, banks, etc.
Hence, based on business activity, Freezone jurisdictions, other regulatory authorities, paperwork, the company registration process becomes tedious.
The role of Business Consultants becomes vital at these stages. For an inexperienced applicant, the business registration process would seem like a never-ending process.
Business Setup experts such as Aurion Business Consultants with their 12+ years of track record are experts in liaising with the Government authorities and are well aware of the documentation requirements when it comes new company registration in Dubai, UAE.
Stay tuned for more such interesting content on Company Registration in UAE.