Dubai Industrial City DIC
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Why setup business in a Dubai Industrial City DIC FreeZone?
Dubai Industrial City has emerged as a very hot tourist destination with several corporate houses establishing their headquarters here. The city has been successful in bringing more companies to showcase their products. Therefore, if you too want to establish an office in Dubai or wish to start a new company in the city, you will have a lot of options to choose from.
One of the main reasons for Dubai becoming a popular business destination is because of its legal requirements for company formation. Unlike other countries, where a business can be established without any legal requirements, all the formalities are handled by the Dubai government. It has one of the most elaborate business registry system in the world. You may start up your business even without a license but it will require one before you can start trading. So, this is one of the major reasons why Dubai has become so popular among both local and international businesses.
The second reason for Dubai being so exciting is that they have some of the most efficient and inexpensive administrative systems in the world. They have also developed excellent policies for keeping records and ensuring that the privacy and protection of the workers are maintained at all times. They have a very efficient and reliable court system with many advantages. If you wish to file a case in Dubai or to get your case settled, you can do so through the courts and get good results. You will also find a lot of property and real estate properties available for purchase in Dubai.
With regards to setting up an office in Dubai, there are several factors which need to be kept in mind. First of all, you should decide whether you want to open a small office or a large commercial building. This decision will have a great impact on your business setup. For instance, if you want to set up a small office, you will require a license from the Dubai authorities. Similarly, if you wish to establish a big company in Dubai, it will be necessary to obtain a DEO or D Sustainable Company registration.
Once you are done with the decision regarding the size of your office and the type of business that you want to set up, you should look into the legal requirements for establishing a business in Dubai. Depending on what you are starting up, you will have different legal prerequisites. However, if you have intentions of starting a business which involves manufacturing, you will have to abide by the manufacturing laws of the Dubai laws. Similarly, if you are looking to develop a hotel, you will require a license from the Dubai Civil Aviation Authority.
After completing the legal setup, you can now register your company. However, before doing so, you should get an opinion from a Dubai business attorney. This opinion will help you find out the exact legal requirements for your company. The next step entails getting your registration certificate and an enterprise license from the Dubai Industrial and Commercial Zone (DICZ). These are issued by the Dubai Interior Ministry. Furthermore, your company will also need to get a registration card from the Dubai Presidency.
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 business setup in Dubai is highly conducive. Therefore, entrepreneurs should not hesitate to venture into new businesses. In addition, there are many government incentives available for investors who want to establish a business in Dubai. For instance, tax benefits and exemption on income, employment, purchases and sales are provided to businessmen who register with the Dubai SCC.