Are you thinking of starting a new business in Dubai? Well, Dubai is one of the best Middle East cities that offers lucrative business opportunities to investors around the globe. The continuous population growth, low tax policies, and advanced infrastructure are some of the factors appealing to individuals to start their business in Dubai. When you have decided to start your business in Dubai, registering your new company is a must. Here are the vital steps you need to follow for successful registration. Let’s dive in!
Step 1: Decide the Structure of Your Business
First, you will have to finalize the structure of your company. When it comes to choosing an appropriate structure, several factors need to be kept in mind. It includes commercial activities, capital requirements, and the number of shareholders. Once you have clarity on these factors, choosing your business structure becomes easy. In terms of structure, the options available are a limited liability company (LLC), free zone company, joint stock company, branch office, and trade representative office. Select the structure that fits your specific business requirements.
Step 2: Finalize a Trade Name
Once you have decided on the business structure, you need to choose a trade name. Make sure the name you select is in line with the regulations of Dubai. Moreover, it should be different from the already existing company names. You need to suggest the selected name to the Free Zone Authority or the Dubai Economic Department to check availability. In case it is available, you can register the name and carry out your business operations under that name.
Select a name that resonates well with the activities of your business. Avoid names that can lead to controversies, violation of public morale, or insult.
Step 3: Apply for the Licence
After reservation of your company name, the next step is to apply for your business license in Dubai. You can choose between an industrial license, a professional license, and a commercial license. The Dubai Economic Department is in charge of issuing local company licenses.
Step 4: Decide the Location
To start a business, having a physical office space in Dubai is important. That is why you need to decide your location in the next step. Depending on the area, the infrastructure, taxes, and resource availability will vary. So, try to make your choice wisely. Consider factors like the number of employees, business activity, and budget to make the right choice.
Step 5: Open a Bank Account
After you are done with all the paper works, licenses, and important approvals, the final step is to open a bank account in Dubai. Choose a bank that fits the needs and demands of your business. Ensure that the bank offers appealing offers to lower the financial burden of your business and help you scale in the long run.
Now that you know the steps to follow to register a new business in Dubai, it is time to set up your company. Undoubtedly, Dubai has ample opportunities for businesses to grow and succeed. So, start your new business and get ready to enjoy great revenues.