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Setting up a business in Dubai Logistics City
The Dubai Logistics City can be considering the future of Dubai. This is because it has developed into a huge, well-developed and technologically advanced centre. The city has an excellent infrastructure consisting of some of the best facilities and services that have made it one of the most lucrative ventures for businesses. It is no surprise then that companies from across the globe are flocking to enter in and take advantage of the growing demand. Dubai’s legal requirements for doing business will make things easier for you, the prospective company owner.
If you are planning to set up a business in Dubai, then you need to complete the necessary documentation and prepare all the required documents for the licensing procedure. These legal requirements will depend on the nature of your business, the projects you wish to work on and the commercial activities you intend to engage in. There are several firms that can help you with these matters and take you through the process. The Dubai government also has its own departments that deal specifically with these matters, which you can contact for assistance or information.
For those considering entering into business with Dubai, there are a number of significant benefits, making it one of the preferred destinations for investors and entrepreneurs. The city’s legal system is recognized around the world, making it easy to do business and enjoy the benefits that come with it. The licensing procedures and the fees charged for them are considerably lower compared to other places in the region.
One of the main reasons why many people consider Dubai as their choice destination is its location. Located in the Middle East, Dubai lies in a convenient location for shipping, car rentals and air travel. The international business community refers to the city as a business centre with a lot of scope for expansion. With a strong economy and a bright future, this makes it a perfect place to invest.
- Another advantage is the tax free status of the Dubai authorities. This means you won’t have to pay any kind of taxes on your income or assets. This is another factor that encourages individuals to establish business in Dubai because they don’t have to worry about their personal finances during this time. The government further provides incentives to businesses in Dubai, offering significant discounts on property and business licenses. If you plan to import goods from other countries, you will also be eligible for rebates from the Dubai authorities.
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 legal system in Dubai is well developed and the quality of attorneys is known worldwide. The government provides several different types of legal aid, ranging from free legal advice to cheap but high quality legal services. This means if you want to start a business or conduct a business operation in Dubai, you need to contact a qualified attorney. They will provide you with guidance and assistance that are legally sound and advantageous to your interest. They can also help you obtain necessary licenses and registrations and give you other important information such as financial benefits, business tips and tricks and tips on how you can get the best deals in Dubai.
The market in Dubai is rapidly growing and people from all around the world are investing money in the city’s business sector. In order to cater to the needs of the international business market, several companies have set up shop in Dubai. When you are starting a business in Dubai, you can either start from scratch or expand an existing business. You may start with just a small family owned logistic operation and later on expand it when the market conditions allow. You have a choice between either owning a single store or several shops in different locations across Dubai.
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