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Why Setup Business in Dubai Biotechnology & Research Park Dubiotech FreeZone?
Dubai has recently been chosen as one of the top destinations for establishing a new business in the fields of pharmaceuticals, nanotechnology and other new and emerging technologies. The chief reason behind this is the Dubai Biotechnology & Research Park (DBPRP). This city boasts of an excellent setting that can serve as a great hub for business. This will pave way for establishments to flourish as well as the establishment of the latest technologies that have great potentials. There are certain requirements that are necessary for successful company formation in Dubai.
Company Formation In order to establish a business in Dubai, you must be ready with all the legal formalities and official documents. You must be aware of the Dubai laws that are imposed for company registration. There are certain laws that are imposed for keeping the identity of the company a secret. Also, there are certain strict regulations that are imposed for the same. It is important to keep these requirements in mind when making any decision or preparing any document for a company registration in Dubai.
Companies may choose to establish their business in Dubai through either an Individual Business or Company Registration. There are several benefits of doing business through an individual rather than through a company. The company formation process is time consuming and expensive; the company has to maintain its secrecy for the protection of the identity of the company and the management of the finances also takes up a lot of time and money. However, in Dubai, there are several professional companies that offer administrative services in case of company formation or for individual matters.
The Dubai Biotechnology & Research Park (DBPRP) have attracted several pharmaceutical companies to establish their business here. The main aim of the government in Dubai is to promote the development of medical science and also to make sure that it becomes a hub for medical research. The city is well known for its many hospitals and medical institutions. Some of the well-known hospitals in Dubai are the King Khumani Medical Campus, Dubai Princess Al-Arab Hotel and Dubai University Hospital. These hospitals provide top quality medical treatment and healthcare at extremely low costs. The hospitals and medical institutions are well established and the local population is friendly and helpful towards foreign doctors and hospitals.
One of the largest companies in the market is Dubiotechnology. This company was established by a group of renowned scientists. The company was incorporated in 1996 and is located on the Middle East region. Dubiotechnology is focused towards developing the bio-tech products that will meet the growing demands of the medical world. The company uses traditional breeding methods along with advanced genetic engineering techniques for the development of various bio-tech products. Some of the products manufactured by Dubiotechnology include enzymes, protein fragments, cell cultures, genetic solutions and various pharmaceutical products.
- One of the largest companies in the market is Dubiotechnology. This company was established by a group of renowned scientists. The company was incorporated in 1996 and is located on the Middle East region. Dubiotechnology is focused towards developing the bio-tech products that will meet the growing demands of the medical world. The company uses traditional breeding methods along with advanced genetic engineering techniques for the development of various bio-tech products. Some of the products manufactured by Dubiotechnology include enzymes, protein fragments, cell cultures, genetic solutions and various pharmaceutical products.
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 Dubai Food and Beverage Company (FBC) are also located in Dubai. This company produces and sells food products for the people of the United Arab Emirates. The company’s products are sold in different restaurants and groceries throughout the United Arab Emirates.
Dubiotechnology and IDEA Biopharmaceuticals are only two of the many pharmaceutical companies located in Dubai. There are many more biotechnology and pharmaceutical establishments located here. Dubai has a thriving trading industry and has become a global leader in the fields of finance, infrastructure and technology. The main industries are retail trading, tourism, commercial fishing, construction and engineering.