Know About Setting Up a Business in Dubai

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Know About Setting Up a Business in Dubai

Сообщение dubaibusinessadvise » 07 сен 2022, 20:46

Sure, your previous work experience as an employer or even an employee in your home country or anywhere else can be grist to your mill when it comes to business setup in Dubai. However, that is not enough! There are tons of things you should and a few things you must know before embarking on your entrepreneurial journey in the commercial capital of the United Arab Emirates. Five of the most important ones are outlined below.

1. The desired business activity must be as per Dubai standards. You might need to take various approvals/NOCs/consents from relevant authorities apart from the dubai trade licence before you could start your business in Dubai.

2. You are required to obtain the initial approval from DED by submitting all the required documents for a llc company formation in Dubai. You may continue with the process of acquiring your trade licence only if you have this accreditation from the authority.

3.Dubai, like other emirates of the UAE, is segregated into three jurisdictions or territories to boost the competence as well as productivity of a business - Mainland (onshore), Free Zone and Offshore. Dubai DED is responsible to decide, regulate, classify, allow and licence all economic activities in the Emirate. However, this is not applied to freezones and offshore business structures. Each zone comes with its own set of pros and cons from a business owner’s perspective. You must opt for the right jurisdiction, considering them.

4.The mandatory requirement of sharing your mainland business ownership with an Emirati national has been scraped off for 2000+ DED-approved commercial and industrial activities. Therefore, now you can enjoy complete ownership of your onshore company in Dubai.

5.The shareholding structure you select for your company in Dubai must be in line with your business operation and preferred jurisdiction.