Building Your Company in Dubai
In recent years, Dubai has transformed itself as one of the premier international business hubs in the world. The main catalyst for its astounding growth is the numerous incentives it offers businesses. If you wish to be one of the business people who have tried their luck in Dubai, here is a quick and practical guide for your reference.
Taking the first few steps in setting up a company in Dubai
1) Identify Your Business
There are three types of trade licenses available in Dubai: commercial, industrial, and professional. The type of license that will be issued to you depends on the nature and activities of your business.
- Commercial License – It is issued to companies/businesses that will be involved in any kind of trading.
- Industrial License – This license is for companies/businesses that will manufacture or produce a product.
- Professional License – This license is granted to professionals, service providers, artisans, and craftsmen.
- uae sms marketing
- bulk sms dubai
- certified translation dubai
- german english translation dubai
Note, however, that some business types have stricter requirements; these include businesses involved in the food industry, jewellery, and legal consultancy.
2) Determine Nature of Ownership
For foreign nationals who wish to have 100 percent ownership of their business, it is ideal to set up your business in a Free Zone in the UAE. On the other hand, those who prefer to set up a business outside the Free Zones need to have a local business partner or sponsor, which could be an individual or a corporation. The partner, by law, needs to hold at least 51 percent share of the company. The terms of remuneration are subject to the agreement between the partners.
Here are some of the key Free Zones in Dubai you might want to consider:
- Dubai Airport Free Zone
- Dubai Cars and Automotive Zone, or simply Dubai Auto Zone
- Dubai Healthcare City
- Dubai Internet City
- Dubai International Financial Centre
- Dubai Biotechnology & Research Park
- Dubai Knowledge Village
- Dubai Media City
- Dubai Studio City
- Dubai Gold and Diamond Park
- Dubai Flower Centre
- Dubai Multi Commodities Centre (DMCC)
- Dubai Silicon Oasis (DSO)
- International Media Production Zone
- Jebel Ali Free Zone
- Jumeirah Lakes Towers (JLT) Free Zone
- Dubai World Central Business Park
- Dubai Production City
3) Secure a Trade Name
Choose a trade name for your business. However, keep in mind that the trade name is crucial in the legal proceedings for your business. The trade name should, ideally, clearly represent the nature of your business.
To help you smoothly and efficiently establish a company in Dubai, it is best to get the expert services of business set-up specialists in the city.