Company Registration In Dubai
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Company Registration in Dubai is one of the most sought after business moves of the Middle East. The impressive growth of the east points towards the potential of Dubai as a business destination. Companies from all over the world are searching for the appropriate steps to take to register their companies in Dubai.
Process of Company Registration In Dubai
A step by step guide for company registration in Dubai can be considered as an essential document for all those who are planning to establish an online business or a limited liability company. This is a comprehensive overview of the procedure followed by the government for registration of companies. It gives a clear idea of the kind of services offered by the government and its procedures for registration. Companies registered in Dubai have the benefit of exemption from certain taxes including corporate income tax and property tax. This is another reason why the emirate has become a preferred location for corporate registration.
Companies that are not registered have to pay the appropriate customs and other administrative charges and this is another thing covered in this comprehensive guide. All the relevant information such as the name of the business, the objective and nature of the business, its office address, the directors and key employees and the shareholders are covered under this guide. There are several types of businesses that need this type of guide. They include gaming and entertainment industries, money transfer services, car leasing, investment companies, estate agents and corporate entities. The guide helps to select the right type of business to register with the appropriate authorities and it also helps in minimizing the formalities.
Companies that are registered in Dubai need to file their status report annually against the turnover and revenue generated in the previous year. This step is required by all companies that wish to remain registered in the country. Companies also have to submit the necessary documents to the registrar. One of the most important documents that need to be submitted is the Articles of Association of the company along with the Memorandum and the Conditions of Registration. The Articles of Association of a company help to describe the nature of business of the company and also ensures that the company is not a sham or a fake.
Companies that wish to become members of Dubai Investment Company (DIAC) must take a step by step guide for company registration in Dubai. This is because almost all the government departments and other bodies have their own regulations and their own set of rules and regulations regarding company registration. The Companies House is responsible for collecting all the details about companies and once these documents are ready, they are posted on the website of the Companies House. Therefore, it becomes essential for a person planning to start a business to get all the details about the same and follow the steps accordingly.
Benefits Of Company Registration In Dubai, UAE
Companies registered in Dubai enjoy several Benefits.
- Companies registered in Dubai enjoy tax free status and this has helped the emirate attract more investment opportunities.
- Companies resident in Dubai have no problems when it comes to government policies, rules and regulations related to foreign investments. The only requirement for companies resident in Dubai is to pay the necessary fees as set by the government, which is a part of the country’s revenue.
Top 3 categories of licenses issued in Dubai to register a company
Depending on the nature of the activity a business entity plans to undertake, license in one of these categories will be issued:
1. Commercial License – is issued to a company who will engage in any kind of trading activity.
2. Industrial License – is issued to a company who will engage in manufacturing or any industrial activity.
3. Professional License – is issued to service providers, professionals, artisans, and craftsmen.
The Dubai Economic Department for Business Development in Dubai is the government agency who is responsible for issuing Dubai company/Business licenses. This department operates from several locations to deliver licensing services in Duabi, UAE.
- The very first step in the process of incorporating a company in Dubai is getting an effective legal name for the business entity. One can choose any name for the company including the name of the company, its address, the name of its director and the management team, and many more. The legal name of the company must comply with the laws of the country where it is incorporated. An expert firm will help you choose the name of the company accordingly. Another factor that you need to take care of is that the name of the company should not be confusing.
- Once you have selected the name of the company, you have to get the ownership of the business. If you are not aware of how do I start an LLC in Dubai, this aspect is the responsibility of the firm that you have chosen to do the task for you. As far as the ownership of the business is concerned, you need to get in touch with an experienced business lawyer who will help you carry out the procedure legally. Once you are done with the process of incorporating the company in Dubai, you need to register it at the Companies Registry. You will have to provide all the details about the nature of the business, the owners and the type of trade that you undertake. All these details are mandatory and you need to submit them along with the application form in the database maintained by the Registry.
- After getting the registration of the company, you need to register the company. This process can be done online or by visiting the Companies Registry office in the city. You need to pay a nominal fee for the registration and you need to provide the latest contact information of the directors to the registry authorities. If you are still wondering how do I start an LLC in Dubai? then you need to know that all this entire process can be completed within three months from the time of filing the first set of forms.
- Now, you need to decide about the capitalization of the business. This decision depends on your requirements and the profit margins that you can get from the business. For instance, if you are running a small retail business, then you can start a limited liability company with a capital of only a few thousand dollars. However, if you are planning to set up a manufacturing business, then you need to have a business plan that will include figures regarding the investments, profits, losses, etc. That is the reason why it is necessary to have a well-written business plan before starting the business.
- The next step in the process of how do I start an LLC in Dubai is to find a name for your company. It is not mandatory to choose the name of the company when you apply for its registration. But, if you are going to establish a limited liability company, then you have to use the name of your company or brand. Again, you have to select a trademark that will be able to represent your company and its products. For instance, if you are dealing in the manufacturing of sports equipment, then you can choose the name of the brand or you can even purchase a trademark from the trademark department of the United States Patent and Trademark Office.
- After you have chosen the name of your company and trademark, you need to register the name. This is done by filing the appropriate paperwork with the concerned office. However, you must remember that even if your company name is already registered, it does not mean that the name cannot be changed anytime in the future. Therefore, you have to keep this factor in mind. Even if you have registered your company’s name, you should still check on it once in a while so that you can make the necessary changes as and when necessary.
- One important point that you have to consider when you want to set up an LLC in Dubai is the formation procedure. You will have to complete the set of procedures and formalities required to get a legal registered company up and running. In addition, you will also have to abide by certain laws, regulations and rules in order to become functional as a business unit. In order to deal with these requirements, it would be better if you seek help from a company that specializes in establishing a limited liability company in Dubai. You can discuss the details of the company’s formation with this company and you can also take a look at the services that they are offering to get the ball rolling.
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