With the fast-changing economic scenario in the UAE, Dubai has become a business hub for entrepreneurs all over the world. Be it real estate, tourism, trade, and finance industries, Dubai has been the most significant contributors to the GDP. Having a business environment that is very friendly and not unnecessarily restrictive, gives opportunities to business explorers grow in their field and nurture their potential in business. With most liberal business setup services, exemptions on tax, total privacy, asset protection, minimal liability help businessmen from all over the globe to flourish in every aspect.
For every start-up who is willing to foster in UAE, must be aware of the types of company formation in Dubai. There are three main types; Freezone Company, Onshore Company, and offshore company.
Freezone Company: This is the most sought after business setup in Dubai for businesses looking at an international location because it extends opportunities for direct investment, employment generation, and adherence to economic reforms. You get numerous benefits like 100% foreign ownership, customs privileges, get through to a large customer base and many more with a Freezone business setup service in Dubai.
Offshore Company Formation in Dubai: The income from an offshore company is also not taxable and easy licensing for franchises along with intellectual property rights like a trademark, patent and copyright make this business setup service another popular services in Dubai.
Onshore/Mainland business setup: Being under the commercial geographical areas with direct Emirates business registration Onshore or Mainland business setup services are also a sought after one among international businessmen.
Next comes the licensing part. The DED (Department of Economic Development), Dubai is the licensing authority which issues licenses for business activities in Dubai. There are three types of license that a startup owner has to procure before the start of the business.
Commercial License is one which includes all kinds of trading activity.
The industrial license would be necessary for those who want to set up an industrial or manufacturing unit as part or whole of their business activity.
Professional License is necessary for people who deal with art, crafts, and other such services.
There is a specified procedure that one needs to follow to set up a business in Dubai. And the commercial business setup services in Dubai supports you in a great way.
In the first step, you need to submit the business name along with the registration application to the DED.
The Memorandum of Association needs to be done in the next step with a due notary in the DED.
The Chamber of Commerce will issue the trade license only when the company documents are filed with the DED.
For getting the Establishment card done for your business set up the application needs to be submitted to the Ministry of Labour.
Further for pension and other social security, you have to register your business with the General Authority and the Ministry of Labour.
A company formation in Dubai takes from 3 to 10 days at max while if one goes for an offshore company option, then it can be set up within just 48 hours provided that right documentation and right resources are available. In this discourse, professional business setup services support a lot in the most organized way.
