Before you start to register the company in Dubai, you will need to get the funds ready so that you can actually have a feasible and practical plan in place. Of course, there are so many ways for you to receive the capital – friends and next of kin, but perhaps the most trusted and wealthiest is the bank itself, where you can go and get the capital in its full amount. Of course, there are a variety of loans for different types of businesses, therefore you need to take the time out to find the business that suits your need.
Just gets this thing clear, registering a business means getting a licensing to run your business. Registering your business and getting licensed means the same thing. These are the steps that you must take before you become a fully registered business.
Step 1: This is to decide what sort of business you would want to engage in, and there over 2,000 different types of business activities available in Dubai, and depending upon the type of business activity that you select, you would require prior approval from govt. departments that are not the Department of Economic Development.
Step 2: The second step to register a company in Dubai is to have a legal form of business selected. The ‘legal form’ is not a form that you go and fill, but in which form will your business be represented as an entity- whether it will be a limited liability company, a private stockholder company, an offshore company etc.
When you finally make the decision to become a particular kind of form, you need to take into account the business type, the activities that are there, the nationality of those who own it and depending upon the type of activity, you won’t be able to choose from all of them.
Step 3: The third step in registering your business is to get a trade license name, and these trade licence names should be adhering to the rules and guidelines set by the government. You will be able to apply for a trade name online or you can do it by going through an authorised document clearing organisation.
Step 4: The fourth step to register a company in Dubai, is to have an initial approval certificate from the government of Dubai that states quite explicitly that there is an objection in you getting your business started and which allows you to go ahead with the company without any opposition. There are several ways in you can apply for the Initial Approval Certificate and it will depend upon the legal form the business has taken.
Step 5: The fifth step in getting certified is to prepare a memorandum of association (MOA). The memorandum will provide details about the duties that the companies’ officers and directors will be doing for their tenure in the company. The memorandum is a document that shows everything is set according to the rules of the company. Sometimes, you will need the help of a local service agent agreement made with a UAE National, who will be there to represent your business with regard to licensing and compliance.
Step 6: The sixth step to register a company in Dubai is to find the perfect location for your business to start with. Businesses that are set up in Dubai will require a physical location, and before you can finalise a particular location, you will need to get the location’s availability confirmed by the Dubai Municipality Planning Section, in addition to checking it’s compliance with public health and safety requirements.
Step 7: The seventh step to register a company in Dubai is to have the licensing approvals obtained from the government for those business activities which explicitly require licenses to operate. Some operations that are there such as hospitals will not be allowed to function until the correct license has been obtained from the authority which issues these licenses.
Step 8: The last step to register a company in Dubai is to get the documents from all of the above processes and then have it delivered to the DED counter. You will receive your license in with the first week itself or sooner depend on the size of your business.
