How To Setup A Company In Dubai Silicon Oasis Free Zone?
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- How To Setup A Company In Dubai Silicon Oasis Free Zone?
Business Setup in Dubai has become a trend amongst many multinational companies looking forward to establishing their base in the city state. The country boasts of various benefits that can make it ideal for setting up a business. Dubai Silicon Oasis Free Zone is also one of the fastest developing economies in the world and so, makes it an ideal place for business entrepreneurs. In this article, we will look at some of the benefits that can be enjoyed by companies based in the freezing region of Dubai.
The cost of doing business in Dubai Silicon Oasis Free Zone is very attractive indeed. It is one of the lowest in the Middle East, making it an attractive proposition for companies. In addition, the business sector is largely free from all kinds of taxes and other indirect costs. So, easy money is available to start up companies and expand them into profitable ventures.
As far as the laws governing trading in the area are concerned, they are well in conformity with international standards. There is no need of licensing or registration of companies, which makes the market well protected for investors. It also helps the market to maintain a stable environment that is easy to operate in and makes it easy for companies to flourish. In addition, there are no heavy restrictions on property investments and there is no restriction on ownership of land.
- Companies that want to set up their operations in Dubai can benefit from the various government incentives that are available in the freezone. These include tax reductions, exemption on import and export duties, reduced rates at customs and various other financial benefits. There are also several business opportunities that can be taken advantage of in the area. If you wish to earn more, you can go ahead and set up a venture where you will invest your own capital. For those who want to earn from a more steady source, there are easy steps on how to set up a company in Dubai Silicon Oasis that anyone can follow.
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.
The government of Dubai allows foreign investors to set up an office in the freezone. The location of the office is of utmost importance as it influences the success of the company. The location should be easy to access by the public and it should be able to attract local and foreign investment. Taking all these into consideration, you can now see how easy it is for companies to set up their operations in the Oais free zone of Dubai. There are many steps on how to set up a company in Dubai Oasis Free zone and if you wish to know how to set up a company in Dubai, you just have to consult an attorney who can give you great tips and advice on the laws and regulations governing the free zone.
The market in Dubai is a vibrant one and there is always a rush of people looking to invest. It is an easy market for companies to earn a profit as it offers a wide array of business opportunities. There are no restrictions on using the laws and regulation as a weapon to get ahead in the market.
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