Are you looking to start a business in Dubai? If so, then there are a few things that should be considered. The company setup process is not as difficult as it sounds and should only take about an hour or two. However, there are a number of steps that need to be taken into consideration before registering your company. This article will provide you with the ultimate guidelines for setting up your business in Dubai!
As a first step, you should determine the business structure for your company. Business companies in Dubai can be classified into three main categories:
- Limited Liability Company
- Partnership Firm
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Sole Proprietorship
If you’re not sure which one is right for your business, then do some research and find out more information about each business type. In addition, you will need to choose a name for the company and register it with the Department of Economic Development. You can do so by visiting their site or going down to their offices..
The next step is to sign up your company at the tax department where they will provide you with a number that will act as your tax reference number. This is the number that will link you with all of your transactions and dealings with the government, which is necessary if you want to start a business in Dubai.
Afterward, you should register with the Emirates ID Authority for your company’s company bank account. Keep in mind that each group can only have one account. In addition, the names of the company owners will be printed on all checks issued from this account. Furthermore, it’s mandatory to have a bank account for each business entity you register with the government.
Finally, don’t forget to register your business at ACRA (the official commercial register). ACRA contains all information about companies including details about their legal status, capital details, business activities and more.
That’s it! These are the steps that need to be taken in order to start your business in Dubai. There is no better time than now to start a company in Dubai as there has never been a better time for small businesses to thrive. If you have any further questions about business setup in Dubai, contact a business advisor today. They will be happy to assist you with finding the right company type and registering your business correctly!
Conclusion:
Setting up a business in Dubai can be done with relative ease. It’s best to start by picking the type of company you will register, which is either limited or unlimited liability for shareholders. Next, choose your legal name and enter it into the application form on the DED website. After that, select an authorized representative who has their ID card details ready. The last step is completing all required fields in the online application form before submitting it! Don’t forget- once you have registered your company there are many other things to take care of such as getting permits from various government departments! We’re here to help make this process smooth sailing so let us know if you need any assistance setting up your new enterprise in Dubai!
