Planning a Business in Dubai – Where to Start?

Dubai is fast becoming a hub of business for the world business community. The new work environment makes Dubai an excellent choice to start a business. Moreover, the selection of virtual offices in Dubai has further increased the expectation of the business community.

Here we will discuss what is required to start a business in Dubai.

Business Type

Be it is a professional, industrial or commercial business, the license of doing business in Dubai depends on the type of your business, hence it is important to first be sure what kind of business you are planning to start there.

Location

Find a location that is convenient and amicable for you, your employees and your customers. Also, look for places that have facilities like eateries, recreational centers, coffee shops, and bars.

Ownership

Dubai has two types of ownership for the businesses planning to settle there. Those apply for a license in any of the free trading zones in the city, will get 100% ownership of their business. Whereas, those wanting to form their business outside the free trading zone, they will have to find out a local partner (could be an individual or a company) in their business. However, the local partner need not invest or contribute to the business financially. In Dubai, the Department of Economic Development (DED) manages all license, that is also authorized to even restrict the ownership.

Visa Requirement

Resident Visa is important to start a business in Dubai. The number of visas that you get is based on the square feet of the office. For on-shore business, Emirati sponsor is needed for the visa. A sponsor should first apply for your visa as an investor in your business and then only you will be able to apply for visas of employees.

Registration

A memorandum of association (MOA) has to be arranged with the sponsor before submission of the same to the Department of Economic Development (DED) who are authorized to approve your registration. If you need any help in drafting your agreement and other things, you can take help of legal companies there. You will have to submit the MOA, the license application, the legal documents like passport copies director, general manager and individual shareholders, certificate of incorporation, and tenancy agreement. It takes just a week.

Conclusion

Be it any business or any size of the business, Dubai is leading the list of cities with ease of doing business across the world.