How to do a New Company Setup in Dubai?

Incorporating a business in Dubai continues to open up a new universe of possibilities for investors from all over the world. If you’re looking for a new company set up in Dubai, now is the time to start working on the company establishment legalities.

You can remit 100% of your earnings and capital gains, have full foreign ownership, and benefit from the UAE’s tax-friendly policies. Starting a company in Dubai is easier than ever when you work with the business specialists at Shuraa. We handle all of the paperwork, licensing, and banking requirements for you.

How to Set Up a New Company in the UAE?

The new-age investors and budding entrepreneurs can follow the steps mentioned below to launch their dream venture in the UAE: 

1. Finalize the Legal Framework and Activities

Several legal structures exist in the UAE’s legal framework. You can form an LLC (limited liability company), a joint venture, an individual proprietorship, and so on in Dubai. A local service agent can assist you with numerous legal procedures without holding shares in your company.

After you’ve received authorization from the government, you’ll need to make a list of all the business activities you’ll be conducting in the UAE. The DED maintains a list of over 2000 business activities from which owners can select the ones that best suit their needs. 

2. Reservation of a Business Name

All corporations must have a registered business name in the Emirates. It’s a crucial step for a new company set up in Dubai because you’ll require the reservation receipt for a business license. You’ll have to pay an extra cost if you want to use a foreign trading name.

When finalizing your list of potential trading names, make sure to follow all of the naming standard principles. There should be no derogatory remarks or words in the name that offend someone’s feelings or religious views. 

3. Choose a Business Location

You must decide on your business location after examining all the business circumstances. You should research the benefits and drawbacks of each business zone in the Emirates. This will assist you in deciding whether you want to launch a business on the Dubai mainland, or in one of the free zones.

When you work with the company formation professionals at Shuraa, you won’t have to worry about any of these things. We assist you in forming a business in Dubai by handling all laws and business registration procedures. 

4. Secure Office Space

It’s critical to have an office space in Dubai because it serves as your formal communication address. This is the only address to which official papers and registration confirmation paperwork are delivered. Renting office space has many financial advantages that will reward you in the long run.

Entrepreneurs can apply for virtual office space in the UAE by engaging with Shuraa’s legal consultants. It’s an optimized solution for launching your business in Dubai remotely. Simply sign a sustainability agreement with us, and we’ll take care of the rest. 

5. Apply for a Business License

Once you’ve completed all the above steps, you can apply for the necessary business license. The type of license you should apply for is determined by your business activities. It could be one of the following: 

• Commercial License 
• Professional License 
• Industrial License 
• Tourism License

You must also renew your trading license regularly. All you have to do is fill the BR/1 form, verify your lease agreement, and pay using the transaction voucher. Furthermore, entrepreneurs can get additional approval for operations that aren’t addressed by the economic department. 

6. Acquire Visas

To guarantee your and your family’s residential security while in the UAE, you must manage all the visas. The number of visas you can get is determined by your company plan, investment strategy, and the size of your workplace.

Applicants need to contact the appropriate department to file a visa application. It’s a simple four-step process, and if your application is approved, you’ll receive your visa permits at the end. 

7. Open a Bank Account

The final step for a new company set up in Dubai is opening a corporate bank account. You’ll need this account to keep track of all the financial transactions you’ll be handling once your business is up and running.

Always go with a reputable bank that provides long-term benefits and superior banking services. When you interact with Shuraa’s banking advisors you won’t have to worry about it. Our host of business services in Dubai includes an in-depth assessment of your business requirements to identify the most suitable banks for your enterprise. 

The Advantages of Starting a New Business in Dubai 

Here are just a few of the many advantages of doing a new company set up in Dubai:

• 100% Foreign Ownership: investors with professional licenses benefit from 100 percent foreign ownership right away. Now, even foreigners can own 100% of their businesses on the mainland and in free zones, thanks to the recent revisions. You’ll need to work with a dependable LSA (local service agent) who’ll help you with documentation and other procedures.

• Lenient Taxation Reforms: you won’t have to pay any corporate taxes or surcharges when you set up a business in Dubai. The best thing is that the VAT rate is likewise set at 5% (among the world’s lowest).

• Diversified Business Opportunities: thanks to the supporting government regulations and modern business infrastructure, firms of all sizes and industries thrive in the UAE. You can select from a large number of allowed business operations and apply for the appropriate business license.

Get in Touch: How to Start a Business in Dubai Free Zone?

What Documents Do You Need to Start a New Business in Dubai? 

Dubai’s government has a robust documentation policy in place to protect expatriates and local investors from business dangers. Hence, you’ll need the following paperwork to start your business: 

• Payment receipt of trademark reservation 
• List of business activities 
• Passport copy of the shareholders 
• Entry stamp or visa page
• Passport size photograph as per the protocols (size, background color, etc.) 
• Initial approval receipt and documents submitted during the initial phases 
• Copy of the lease agreement signed by the Real Estate Regulatory Agency (RERA) in Dubai 
• Duly attested Memorandum of Association (MoA) for all types of companies 
• Approvals from other concerned government authorities 

Launch a New Company in Dubai!

Dubai’s vast commercial business opportunities make it a no-brainer for entrepreneurs to establish their businesses here. To start a business in Dubai, contact the business advisors at Shuraa. We do all the heavy lifting for you so you can take care of other aspects of your business’s growth.

To learn more about a new company set up in Dubai, book a free appointment with our specialists or contact +971 44081900. You can also contact us via WhatsApp at +971 50 777 5554. For email assistance, mail your query at info@shuraa.com.