Industrial Zone in Abu Dhabi
Why Setup Business in Industrial Zone in Abu Dhabi
Industrial City of Abu Dhabi is the name that is being given to a real estate development located in the United Arab Emirates (the United Arab Emirates). It is also referred to as the “New Industrial City”. The city was designed and built as a “feeder zone” for those companies that had large production facilities and were looking for a place to store their excess stocks. This was done in a bid to make the operation of their businesses more efficient and cost effective. The reason why they are giving this area away for free is to attract new industries to this part of the world.
Many industries have started operating in this free zone of the country. Some of the major industries that have started operating here include cement manufacturers, chemical manufacturers, petroleum refineries, electrical companies, shipyards, sugar mills and oil drilling. All these industries have made the operation of their businesses more convenient and profitable. There is a huge demand for these products in the free zones all over the world.
These free zones have also attracted foreign direct investment. This is because many multinational companies are establishing base here. They have made the decision to build some of their biggest plants and factories in the region. As a result of this the economy of the region has become highly developed.
The free zone offers an ideal location for new establishments. This is because there are no compulsory charges imposed on the development of property here. This means that the price of real estate here is cheap and is in a competitive market. Therefore many people are attracted to buy property in this area. This is why many real estate developers are attracted to the area.
Abu Dhabi is the second largest freezone of the United Arab Emirates (the first is Dubai). This city has a thriving economy based on the oil industry. This industry accounts for about eighty percent of the economy and it is responsible for about two thirds of the city’s gross domestic product. This means that the city has a thriving economy based on a number of industries. Companies have been investing in the city for more than thirty years and they have seen that Abu Dhabi is one of the most stable destinations for their investments.
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 this emirate has made it a point to support the interests of its local businesses. The state of the economy is improving and the state has put forward several measures so that it can become a better place to do business. The city has made efforts to attract businesses and investors from all over the world by offering tax breaks and subsidies. If you want to invest your money in one of the industries in Abu Dhabi, you should consider this point – you have a lot of competition and you cannot afford to lose out to any one of them.