Minimal tax rates and highly developed infrastructure facilities make
UAE, especially Dubai, a very attractive company incorporation destination.
Although the tax regime is easy, company incorporation is not an easy task. The
compliance are not easy to obtain and generally involve complex procedures.
Fret not; this blog post will give you a clear heading towards business setup in Dubai, simple steps.
Step 1: Decide on the type of business and
activities: before company formation in Dubai, identify the business activity implies to 1) commercial 2)
professional or industrial. Depending on target markets decide on the type of
entity free zone company, LLC a branch office or a sole proprietorship.
Step: 2 open a bank
account to prove solvency and for financial transactions. Initial capital may
vary between $13,000 to $300,000. It can be immediately withdrawn.
Step 3: submit a
registering application with the respective authority, for business setup in
Dubai it is the Department of Economic Development (DED).
Step 4: get the MOA notarized:
hire a lawyer to explain clauses and complete the documentation.
Step 5 Obtain trade license and commercial
registration certificate from Dubai Chamber of Commerce and Industry by
submitting the following company documents:
The notarized
Memorandum of Association (from step 3);
·
company
name approval issued by DED(from step 2);
·
signed
legal contract between investor and UAE National who is the legal representative of the company;
·
original
company approval from DED;
·
Due
diligence of each partner.
Step 6:
obtain an office space in ftz virtual office will be good enough but in Dubai a
physical office is required in the name of company.
Step 7:
if you want to employ other people in your company you need to get them work
visas and an establishment card for company.
Step 8: Register the employees with the Ministry of Labour
and Social Affairs. For this the requirements are as follows:
·
employment
contract in triplicate;
·
employer's
passport copy;
·
UAE
residence visa
Other Blog Sources:
